Team & Advisors – 8/10
Roadmap – 9/10
Token Metrics – 8.5/10
Verdict
Why should you get hyped?
Already working and useful product which has cool user interface integrated with lots of other platforms!
They will have Masternodes!
Ran Neuner just became advisor for the project!He launched first televised cryptocurrency show “Crypto Trader” on CNBC! (https://medium.com/essentia_one/essentia-welcomes-ran-neu-ner-to-our-advisory-board-c4d71e2a7164)
Government deals/backings are always good sign! This is actually good for all crypto world since it helps mass adoption of blockchain technology.
Overall, we like both the flipping and long-term potential of the ICO. Our thoughts on buying the tokens for flipping and investing for the long term are as follows:
For flipping
Good. There are very few blockchain projects with a functioning product on the Ethereum mainnet. Partly because of this reason, the project was able to complete the presale and raise $23.5 million in around one week. There will be $2 million available in the crowdsale. As such, this project should have plenty of unmet demand.
For long-term holding
Good. Should dApps become mainstream, we believe Essentia will be one of the major platforms to benefit from the trend.
In addition, the masternode mechanism encourages token holders to stake ESS tokens, reducing the velocity of the tokens which in turn increase the scarcity of it.
Advantages.
1. Identity management data management framework, which is actually MVP. The roadmap is fast.
2. It has complied with European GDPR certification standards and has contracts with the Finnish and Dutch national authorities.
3. The hard cap is not very large. A project involving kenetic.
A complementary point
1. It is a project that belongs to the Red Ocean. Nobody knows who will be the last winner. Large companies are also entering this field.
2. It is still MOU with the customer and a definite agreement should be observed.
3. It's a project that has not been publicized yet.
● Essentia is a masternoded multi-chained set of protocols connecting centralized and decentralized resources to create new powerful interactions and experiences. Essentia automates your crypto life by connecting your apps, dApps, assets and devices together, performing efficient interoperations between them to save you time and money.
● Essentia will implement masternodes with a total block reward corresponding to 15% of the total supply of tokens ever existing to be PoS mined over the course of the next 7 years, plus the fees for each block.
● Each masternode will require 100,000 (one hundred thousands tokens) to be locked in.
● You can sign in with a unique ID on multiple platforms, such as regaining ownership of your data and sharing selectively with different parties. Today, some major blockchain projects have been incorporated into Essentia. Projects such as Gnosis, Ethereum, EtherDelta, Status, IPFS, Storj and Aragon, for example, all have built-in Essentia.
● Essentia to Become First Blockchain Based Solution from Finnish Government
● Rumors of Bitfinex investing.
● Matteo Gianpietro Zago (Project Lead) - creating his first project with a budget of 10€ turned into a real scalable business working now with Fortune 500 companies such as Uber, Alphabet, Facebook, Tencent. He began the journey alone from a small desk in his apartment and finalized it now by having 110 new team members join the team last year, located in 5 offices over 3 different countries. He's the creator of the most commented item in the Web 2.0 history, author of the Facebook Bible and the Twitter Marketing Guide, both best selling books on Amazon.
Summary
Essentia has good intentions and solid software. However, they fail to appeal to the general user. Their whitepaper will go straight over the head of the average person who they want to market to. As a result, their user base might not be able to expand the way that they intend it to. This is a hard ICO to judge. Their technology is great, and they genuinely seek to solve real-world problems, but they lack the ease-of-access and understandability for widespread adoption. Essentia is a real toss-up. You probably won’t make great money on the ICO, but if you’re looking for quality technology to invest in, then these guys are trying to make a change.
Positives
Decentralized: By using Essentia, you can fully decentralize your personal data. Each user has full control of how they share their data.
Non-Profit: Essentia operates as a non-profit company based out of Amsterdam, and is planning on providing all of their services for free.
Customizable: The Essentia framework is easy to customizable for whichever user or machine is using it.
Negatives
Marketing: Essentia hasn’t made any headlines and hasn’t pushed marketing for their service. As a result, they are relatively unknown.
Confusing Tech: Essentia provides a great framework to keep one’s identity secure, but it can be very confusing for the layman. Their whitepaper is geared to be understood by IT professionals.
Restricted: US, Chinese, and Korean citizens are restricted from ICO investment.
Strengths: an MVP is available. The pre-sale is a sold out. Several projects are already integrated with Essentia, including Aragon, Flyp.Me and others. Very solid team and board of advisors; members have varied backgrounds and experiences at world-known companies. The WP has an extensive list of product applications and use cases.
Weaknesses: the WP is in draft version (from January 2018); business and tokenization models are presented in separate documents - the WP should be compiled into one comprehensive document, according to analysts from Expert-Coin Rating. The WP focuses on technology and architecture of the project, while key business components are missing. There is no financial plan; no end date for ICO.
It is the scope of this project which makes it an interesting one. Full product roll-out cannot be expected before end of Q4 2019.
If the token sale is to be a successful one, the project team will need to work on communicating a clearer message for the project’s overall remit.