In this article I will cover Ink Protocol, a project which is combining reputation with blockchain to bring trust to the buyers and sellers on any market place.
So, what is Ink Protocol?
Ink Protocol is a decentralized reputation and payment protocol, which is using the XNK token to bring trust and decentralization to any market place.
IDEA
The idea of having a decentralized peer-to-peer market place governed by a cryptocurrency on the blockchain is very good and can increase the trust in this space, which could also make the market more efficient.
Grade: 4,5/5
TOKEN METRICS
The circulating supply is in the sweet spot of 100.000.000 - 250.000.000 tokens, which is very good and also what I like a lot is the low price per token of 0,054 $. The market cap is very low, which is attractive from an investor point of view, but could also prove to be very risky if the team will not be able to deliver on all their promises.
Grade: 4,5/5
ROADMAP
The roadmap is full of releases short term but also long term, which is very good for the further development of the project and increases the investors confidence long term.
Grade: 5/5
TEAM
The team is quite big and has all the necessary departments covered for it to succeed, but what it stands out are the advisers, one of them being Quantstamp, a smart contract auditing platform, which could really help Ink Protocol integrate into any peer-to-peer marketplace without any security flaws.
Grade: 3,5/5
PROTOTYPE
The Ink Pay app will be launched in Q2, but the Ink Protocol is already integrated on the Listia marketplace as the primary virtual currency for all transactions.
Grade: 4,5/5
TOKEN UTILITY
The XNK token is an ERC20 token using the Ethereum blockchain. XNK is the currency powering all Ink Protocol transactions using the proof of payment shown on the blockchain. Mediators can also earn XNK by solving any disputes between buyers and sellers on the Ink Protocol market place.
Grade: 4/5
COMPETITION
There is quite a few competition on this niche within the blockchain space, but it seems that Ink Protocol already has a few established connections, which could help it get a lot of the market share from its competitors.
Grade: 3/5
HYPE
Their Telegram channel has 10.700 members and their Twitter has around 4.800 followers, which shows a strong community support and interest around the project. The presence on other social media is also decent, but there is definitely more room to grow in this area.
Grade: 3/5
Overall conclusion
Ink Protocol is a low market cap project, with a long and detailed roadmap and a strong community support. I think it has a lot of potential to obtain a large piece of the market share from its competitors, if the team can deliver on their promises.
Final grade: 4,00/5 (good)
As usual, please make sure you do your own research before investing in any ICO / token and if you liked the article, don't forget to up-vote / comment / re-steem it and check my other ICO reviews as well.
Thank you.
Useful links:
- Website https://paywithink.com
- Telegram https://t.me/paywithink