Premise
3.5/5 – Not bad
The cloud services market is worth $45 million/year and increasing with Google Cloud, IBM, AWS, and Microsoft dominating the industry. The services they provide may not be 100% trusted and secure, but because of their reputation, they can afford to raise the bar and feature really high price ranges.
New market entrants don’t stand a chance among the four. They invest a lot in data centers, storage facilities, and servers, which gives them leverage. Interestingly enough, there’s been a growing demand for storage and computational processing capabilities; the latest trends threatening to disrupt the cloud services market are AI and Big Data.
Processes based on artificial intelligence demand vast amounts of computation because they also soak up significant GPU and CPU processing power. The demand for processing power and storage is anticipated to increase now that AI apps in different industries are gaining recognition.
New Blockchain-based project Iagon, is looking to revolutionize the web and cloud services markets with its decentralized processing and storage grid. The aim is to tap into the unused storage capacity of personal computers and servers and their processing power, Iagon’s mission is to develop a super data center and supercomputer to compete with the 4 main cloud computing giants.
A world with a computational grid that’s stronger and more powerful than any other supercomputer out there could be profitable for everyone. By joining the Iagon processing and storage platform, data breaches will no longer be a threat because of the use of Blockchain technology. Users are ensured their data is secure and they’ll be able to leverage AI to obtain and produce powerful insights.
With Iagon, you can share resources from your computer, both CPU power or storage, and if you choose to be a mining node you can execute code, store data, or can run DApps. By sharing resources you earn IAGON tokens. Based on the Ethereum network, the platform will eventually have its own private Blockchain.
Team
3.5/5 – Not bad
Although the Iagon team is not made of all-stars, the project is backed up by skilled academics with high levels of education. The CTO worked for 9 years at IEEE Smart grid, whereas the COO is an AI and machine learning specialist, former researcher and lecturer in industrial engineering. Iagon has a really good team of advisors and partners backing up the project. Some of them are professional in Blockchain technology, cybersecurity, and cloud computing.
Token
2/5 – Poor
Based on data center, computer and server owners joining the processing and storage power grids, the Iagon token-based economy may not seem that powerful. From the very beginning they have a very high hardcap of $77 million for 70%. Although they mention that unsold tokens are distributed among the contributors through the mining process.
Risks
3/5 – Moderate Risk
The Iagon project does show potential. They’re trying to combine multiple coin functionalities and develop an ecosystem where people’s computers are used to store and secure data. However, the initial concept is not new. The interesting aspect is the AI integration onto the platform, as well as the hype. Thus far, there are over 26,000 people on Telegram appreciating the project.
Summary
Iagon shows potential especially because they’re trying to create a private DAG Blockchain, and they’re shown a viable MVP. In the initial phase of the project, the global supercomputer powered by Blockchain and AI will run on Ethereum. In the future, the plan is to come up with their own private Blockchain.
Not bad
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