Yggdrash

Trust-based multi-dimensional blockchains

[Short general description]: YGGDRASH aka a world tree, is a channel connecting all blockchains. The purpose of YGGDRASH project is to connect all blockchains using a Trust-based Multi-dimensional blockchain, and hopes to redesign all services on the Internet into a blockchain platform. 

 

Yggdrash’s main-net is called STEM, and its cryptocurrency is YEED. It is a trust-based blockchain ecosystem where each branch is governed by reputation to ensure integrity.

 

[Main problems tackled]:

1) Transaction processing performance, abusive, self-interest driven competition between block verification nodes, and sync speed of blockchain - optimized performance of main chain processing

2) Independence and processing performance of each blockchain is guaranteed -  solving selfish mining competition system

3) Solving selfish mining competition and ensuring trust or reputation based economic incentives - YGGDRASH will resolve the selfish competition problem by applying DPOA. The verifier of YGGDRASH blockchain has the authority to determine the policies of our YGGDRASH network, rather than receiving incentives of cryptocurrency through PoW and PoS. 

4) Interoperability, scalability between block chains are guaranteed - YGGDRASH is a blockchain platform that can connect different blockchains which satisfy business needs of users, and the stem chain and branch chain serve those roles. The stem chain contains address information of all branch chains connected to the YGGDRASH network as if using domain services when we search on 18 Google. In order to connect to other branch chains, the branch chain selects the service of other branch chains needed to its business using the information contained in stem chain. 

 

[Main contribution proposal]:

 

1) YGGDRASH consists of Stem chain and Branch chain; the Stem chain provides the blockchain ecosystem where all the Branch chains communicate and be fused. 

2) Advantages of YGGDRASH - the smart contract data capacity issue is resolved, improvement of processing performance through blockchain network sharding, Akashic system –improvement in node sync speed by applying BRA (Block Reassembling Algorithm)

3) The File Sharing on P2P Network - Solving the issue of storage capacity

4) Blockchain Starter & Smart Kit - provides blockchain development toolkits for independent blockchain developers. Each toolkit is customized for blockchain development that satisfies the schedule, flexibility and applicability, and convenience of development depending on business requirement and strategy. 

 

[Innovation]:

 

1) Governance in YGGDRASH - Consensus Algorithm - YGGDRASH will develop DPOA (Delegated Proof of Authority), a self-consensus algorithm, to ensure faster performance than any other consensus algorithms by selecting the node with the highest reputation score as a representative through the reputation evaluation chain. 

2) Governance of Representative - the representative nominee is selected through the YGGDRASH’s reputation evaluation chain and the representative is finally elected by the committee of YGGDRASH representatives, attending more than 3/4 of members and agreed by more than half of those attendees. 

3) Incentive for Representative - Base on a multidimensional blockchain characteristic, there is no direct monetary compensation policy for those representatives in YGGDRASH network. However, YGGDRASH honors a representative and benefits creating immunity chain without consuming YEED and paying less or no fee in YGGDRASH network.

ICO Rating Analysis
Team Evaluation
5.00 / 5.00
Product
4.00 / 5.00
Token Economics
4.00 / 5.00
Business Evaluation
3.60 / 5.00
Hype and media presence
3.00 / 5.00

Analysis

Team - Founders:
Are the founders known? Do they have relevant experience and connections?
5
  • 1. Unknown people. No serious background information available.
  • 2. Partial information available, no relevant experience.
  • 3. Background information available, no relevant experience.
  • 4. Solid, relevant background and connections available.
  • 5. Solid, well known, experienced and well connected founders.
Team - Advisors:
What level of commitment, experience and connections do the advisers bring?
5
  • 1. No reputable advisors with relevant experience.
  • 2. Few advisors with little to no relevant experience.
  • 3. Advisers with relevant experience.
  • 4. Reputable advisors with relevant experience and connections.
  • 5. High profile highly experienced, well connected and committed advisors.
Product - Technology Layer:
Is the product innovative? Does it contribute to the blockchain ecosystem?
5
  • 1. No, the product is just a clone with no contribution.
  • 2. The product is a dapp with minimal interest and little contribution to the ecosystem.
  • 3. The product is a dapp, exchange or protocol addressing a real problem or need.
  • 4. Innovative product offering a solution to a high interest problem.
  • 5. Innovative protocol tackling critical problems of highest interest.
Product - Proof of concept:
Is the proof of concept comprehensive? Does it address a real problem or need?
5
  • 1. No, incoherent concept or no need for it.
  • 2. Difficult concept to understand, hardly any need or problem to solve.
  • 3. Clear concept which addresses a real problem.
  • 4. Clear, well thought concept which addresses a real problem of high interest.
  • 5. Exceptional proof of concept addressing a critical problem.
Product - MVP:
Has the concept been tested? Is there an MVP? How far is the launch?
2
  • 1. Untested concept.
  • 2. Initial tests, no MVP.
  • 3. MVP ready, Alpha launch.
  • 4. MVP ready, Beta launch.
  • 5. Fully working initial product.
Token Economics - Token utility:
Does the token have any utility? Is it a core function to the network?
4
  • 1. No, the token has no utility.
  • 2. Token has a limited, unclear utility.
  • 3. The token has some added, but not inherent value.
  • 4. The token is embedded in the network and has inherent value.
  • 5. The token has both inherent and added value and is embedded at the core of the network.
Token Economics - Network effect:
Are strong network effects built into the system? Are incentives aligned to encourage the growth of the network?
4
  • 1. No network effects built in.
  • 2. Minimal network effects, unclear incentives.
  • 3. Network effects and incentives present.
  • 4. Solid network effects with clear incentives due to inherent utility.
  • 5. Strong network effects, aligned incentives and high utility value.
Business Evaluation - Valuation:
Is the valuation reasonable ? Sufficient but not too high for the scope of the project?
3
  • 1. No, the valuation is ludicrous, the project could do with 1/10 of the sum.
  • 2. Valuation is higher than the project would need. Likely a money grab.
  • 3. Valuation is reasonable for the scope of the project.
  • 4. Valuation is modest for the caliber of the project.
  • 5. Valuation is impressively modest relative to the high caliber of the project.
Business Evaluation - Market potential:
What is the market potential? Does the project look like it could penetrate the market and conquer the world?
5
  • 1. No clear market potential.
  • 2. Limited market potential.
  • 3. Reasonable market and growth potential.
  • 4. Solid market and growth potential.
  • 5. Exceptional market and growth potential.
Business Evaluation - Competition:
Does the project have competition? How strong does it look relative to its competition?
3
  • 1. Awful position competing with many strong players.
  • 2. Weak position facing strong competition.
  • 3. Reasonable position facing strong competition.
  • 4. Solid position facing weak competition.
  • 5. Exceptional position, facing almost no competition.
Business Evaluation - Supply sold:
Does the team distribute a reasonable amount of the tokens so as to encourage create strong incentives and network effects?
4
  • 1. Negligible supply, greedy team.
  • 2. Small supply, poor incentives.
  • 3. Modest supply, weak incentives.
  • 4. Reasonable supply, responsible team.
  • 5. Large supply, solid inventive, committed team.
Business Evaluation - Vesting:
Does the team have a sufficient stake to have aligned incentives? Do they have a vesting schedule implemented?
3
  • 1. Large stake, no vesting.
  • 2. Small stakes, no vesting.
  • 3. Modest stakes, no vesting.
  • 4. Reasonable stakes, modest vesting.
  • 5. Solid stake, healthy vesting.
Hype and media presence:
Is the project present on social media and chats? Is there interest for it?
3
  • 1. No presence, negative image.
  • 2. Modest exposure and no interest.
  • 3. Reasonable exposure and modest interest.
  • 4. Solid exposure and high interest.
  • 5. Exceptional exposure, high interest and considerable hype.
Final Score
4.19

Team

Member
David (Dongwook) Seo
CEO and Co-Founder
Peter (DongOk) Ryu
CTO and Co-Founder
Joonhyuk Seo
CFO
Ayden Kim
Blockchain Analyst
Min Seop Hong
Blockchain Engineer
Luke (Jeong-wook) Hwang
Blockchain Engineer
Stevie (Chansoo) An
Global Sales Manager
Won-Kyung Cho
Financial Product PM
Amy (Youngmi) Song
Art Director
Ryan Moon
UX/UI Designer
Richard Kim
PR & Strategy Analyst
Elon (Jinyong) Kim
PR & Strategy Analyst

Advisors

Taejin Kang
Vice President at Hyundai Card/Capital/Life
Andrew (Yeon Jin) Chu
CEO at Lately Korea, Inc.
Nakhoon Choi
CSO at Balaan
Steve Song
Paxdaq CTO and Co-Founder
Patrick Linden
Managing Partner at RVP Venture Group
Yoonho Kim
CEO at ByBlock Inc.
Ken Lee
CEO at Lee Kim Alliance Pte. Ltd

Updates

Title
Published at
For your information
7 months ago
Yggdrash News
7 months ago
Contribution Guidelines : YGGDRASH token distribution via Website (Step-by-Step)
7 months ago