Analysis of ICO Quanta
Quanta is a hybrid decentralized cryptocurrency exchange (DEX). Users of DEX platform manage their data themselves. Users’ information is not retained by platform developers who are not able to make or modify trades and withdrawals on behalf of a user. Operations are conducted on a decentralized network, agreed by consensus on a set quorum and written into an immutable blockchain. Past operations can’t be altered by any entity. Other core features of Quanta include:
- Token model - history of coin balances is kept as a token model
- Low latency - the network is based on Byzantine consensus
- Anonymity of trading history
- Scalability - the exchange will scale up as more nodes will be added
- Signature verification before committing transaction to the ledger.
The public launch of the exchange is planned in September 2018.
There is no detailed business plan, monetization model is also missing.
All tradable assets are represented as tokens. Users will have accounts (User Wallet) with pre-generated addresses to send coins. Exchange Trust Wallet holds on the money, then issues a credit into the Quanta blockchain. When Quanta tokens are deposited back to the exchange, Trust will transmit the money back. There are two requirements: transaction should be signed by the user and it should contain the memo of the receiving external account.
The team plans to develop a community-driven DEX and achieve full autonomy eventually. Quanta Foundation - a non-profit organization - will be established to develop and promote DEX. DEX beta will be launched under a private blockchain to minimize costs. After ICO, public blockchain will be developed thus allowing anyone to become a user.
An internal utility token - QNT - will be issued and used for:
- Fees payment
- Bonuses (holders will have reduced fees)
- As a reward for signing up/referrals/platform promotion.
55% of funds raised will be allocated to build Quanta platform and to perform upgrades to the system, 20% will be kept as a reserve for emergency situations.
There is no marketing strategy in the WP. 25% of funds raised will be allocated to branding, marketing and legal. Promotion will include educational activities via relevant industry mediums. The project has Facebook, Twitter and Telegram accounts. Social media activities should be more intense.
It is stated on the website that the team is Silicon Valley-based, with members and advisors from Google, Netflix, eBay, PayPal and Investor Business Daily. Several names are disclosed, their backgrounds are in engineering, marketing, Big Data, cloud services and computer science.
The Vision of the Market
The WP has brief, but clear crypto exchange market overview. The main problem of the industry is security and increased number of hacking incidents. The reason behind this is that crypto exchanges are centralized and are managed by traditional databases. DEX came as a logical solution, but there are limitations too. Quanta platform offers solutions to these real-life issues.
Understanding of the Target Audience
There is no target audience segmentation aside from general buyers and sellers target groups. Further desalination is required since crypto exchange market is competitive and it’s vital to target the right group.
There is a brief overview of competitors. Crypto exchange market is dominated by Bitfinex, Bittrex, Binance and others. DEX companies are starting to emerge, Wavex and OX among them. Quanta DEX advantage is that it will offer trading in multiple coins while competitors limits trading to their own tokens. Another advantage is fast trading with 4.5M orders/second.
The idea has high potential and vision is good, but information about the project should be more extensive, according to analysts from Expert-Coin Rating. The mystery behind team members and advisors is confusing.
Strengths: beta was launched in Q2 2018 (open to beta testers). The project is registered on CrunchBase.
Weaknesses: there are no financial plan and marketing strategy. The WP is very short and misses key components (like team members profiles). As of May 2018, no ICO dates were announced. Team members and advisors details are not complete; it is stated that “more will be announced soon”.