After looking at 44 token announcements, we’re picking One Ledger as our ICO of the Day. One Ledger is a Cross-Blockchain Protocol.
Premise
4.5/5
Currently there are many cryptocurrencies on the market, but many of them have scaling issues, and they also have different purposes – for instance Bitcoin is targeted more towards payment and Ethereum towards Dapps and Smart Contracts.
One Ledger is a high-throughput cross-blockchain blockchain with built-in sharding. It has its own Byzantine Fault-tolerant consensus scheme which allows for both permissioned and permissionless blockchains. Organizations can use One Ledger to create and interact with public blockchains or create their own private sidechains.
One Ledger aims to solve scaling issues, as well as linking blockchains to allow organizations to easily take advantage of the benefits of each cryptocurrency. Organizations will be able to leverage blockchain technology through the One Ledger API.
Team
5/5 All-Star
The team behind One Ledger is quite solid, based out of Canada with very strong engineering and development talent.
This is a very technical project, so it’s good to see that the core team consists of 3 people with the word “engineer” in their title, as well as a CTA (Chief Technical Architect). Even the managing director went to University of Waterloo(top engineering school in Canada) and has worked as a blockchain engineer before, while the lead engineer has worked at Morgan Stanley and as a consultant for Deutsche Bank.
The CEO has worked in enterprise software, which is the target customer for this product.
The Advisors are pretty strong as well, including the CEO of Polymath and an advisor to Factom.
Token
3/5 Decent
The OLT token is used for transaction fees on the network.
35% of tokens will be sold, with a hard cap of $15 million. There is a vesting period of 24 months for the team and 12 months for the advisors. This is definitely not a scam.
These token metrics are ok, though not stellar. In particular we would have liked to see a fund distribution chart.
Risks
4/5 Low Risk
One Ledger is going up against ICON, a very hyped and successful Korean project doing pretty much the same thing.
One thing we have noticed is that Korean businesses tend to be solid but are not very international. Since One Ledger is Canada-based, we see a lot of opportunity for regional differentiation. One Ledger could foreseeably target the North American and European markets while ICON targets Asia.
Summary
One Ledger is a solid project with a very solid team – in fact this is the first time we’ve seen a team this strong. Their project scope and their experience and skillset are extremely well-aligned.
The biggest challenge they will face is getting businesses to adopt blockchain – but with the growth and hype around blockchain at this point – that may not be as hard as it seems. We think this one is a winner.
Whitepaper | Website | Telegram | Twitter
Excellent
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