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Iagon – ICO Review

"IAGON has devised a way to use blockchain technology in order to build a distributed cloud computing ecosystem using otherwise underutilized hardware in exchange for tokens."

One of the largest segments of the tech world today is cloud computing and storage. Google, Oracle and Amazon are some of the biggest players in this space and each is a titanic company with interests in dozens or hundreds of markets. This breadth of business creates conflict of interest when charged with hosting the files or processes of competitors or potential competitors. Centralized cloud services also require huge investments in datacenter and bandwidth in order to be feasible. Due to these investments, the costs associated with cloud hosting are not small.

Iagon Vision

IAGON has devised a way to use blockchain technology in order to build a distributed cloud computing ecosystem using otherwise underutilized hardware in exchange for tokens. This eliminates the possibility for conflicts of interest as no centralized company will own the hardware or bandwidth and be able to interdict data or impose additional costs or other throttling techniques. It also allows for the avoidance of the tremendous investments in data centers and bandwidth, as this comes from users of the system itself and is paid for directly by the consumers of the data or services via tokens.

In essence, this is a combination of technology originated by SETI, distributed data mining of large datasets and the blockchain based technology introduced with Bitcoin. Combining these two allow for a secure, distributed data mining and processing system where users can purchase time on unused hardware simply and easily without understanding or being aware of where that hardware actually sits. Privacy and reliability are two of the largest challenges for distributed storage and processing systems and IAGON is built to support both of these aspects. Security and privacy are supported by IAGON’s Secure Lake technology, built on the blockchain encryption protocols, file slicing, and storage of small, anonymous portions of file slices. Aside from those with the key, no one can read, edit, or delete the file slices, or even associate them with other, related file slices. This technology decouples the security of the supporting hardware or software from that of the data storage mechanism.

IAGON is built to integrate into currently existing IT architecture without costing hundreds of thousands of dollars to deploy. It sits as middleware in both server-database or frontend-backend architecture. It works with SQL and NoSQL structures that currently exist and doesn’t require a large data migration project. This reduction of the barrier to entry for corporations or pre-existing IT architectures is one of the more enticing aspects of the project, as the easier IAGON is to integrate, the more successful it will be.

ICO Details

Symbol: IAG

Tokens Available: 700,000,000 IAG

Presale: May 20 – June 20, 2018

Crowdsale: July 7 – August or September 7, 2018

Soft Cap: 5,000,000 USD

Hard Cap: 50,000,000 USD

Presale Pricing Structure:

  • 0.06 USD / IAG token – for > 25 ETH
  • 0.07 USD / IAG token – for > 10 ETH
  • 0.08 USD / IAG token – for > 5 ETH
  • 0.09 USD / IAG token – for > 0.1 ETH

Crowdsale Price: 0.12 USD / IAG Token

Token Allocation:

  • 70% – Presale and Crowsale
  • 10% – IAGON Team
  • 10% – Advisors and Bounty
  • 10% – Development

Conclusion

This is a fascinating attempt to take on some tremendously powerful competitors in the cloud processing and storage space. The market is huge and controlled by a relatively small group of companies and might well be ripe for disruption from an agile, blockchain powered competitor. Distributed cloud processing and storage has several upsides from the current paradigm of using a single company to service these needs. Aside from the competition and conflict of interest concepts, this brings the power back to the user instead of with the hosting company. A secure, robust platform would allow for smaller companies who cannot use or choose not to use one of the larger providers to have the opportunity to run their businesses without interference from the big players in the market. Further, small businesses and individuals can buy exactly what they need without being locked into large contracts or simply being priced out of the market.

The technological underpinnings of the system as presented seem to be very solid and they seem well prepared for the technological hurdles they’ll face in this process. The combination of technologies they’ve chosen make sense and seem to integrate well. It’s a very good sign that they have put as much thought into integration and installation as they have, as reducing the barrier to entry as much as possible is going to be critical to their success. Getting as close to plug and play as possible is most definitely in their best interest.

As far as token allocation, it’s good to see that they’re not holding a tremendous amount back for advisors, and that the vast majority is going to the crowdsale and presale. Unfortunately, no information on their fund distribution was presented, so that is one small area of concern. However, given their information on technical aspects, this still appears to be well worth considering for investment despite this missing piece of information.

Overall, IAGON appears to be an extremely well thought out project offering to power a new entrant into a market that may well be ready for an alternative from the monolithic blocs of offerings currently available.

Links

Website
Whitepaper

Summary
IAGON seems well positioned to be able to take on some very large competitors with a new method of powering cloud based storage and processing that will compare favorably with the offerings from Amazon, Oracle, et al. Investing early in IAGON may give a large return, as the market is extremely large, with more and more organizations moving from on site or managed storage to cloud storage with the use of cloud processing becoming more and more common. This large market, possibly on the cusp of a revolution from centralized to distributed technology may be the right time and right place for a big win for an aggressive competitor who enters the market with the right mix of technology and moxie.
Good
  • Iagon has the potential to disrupt central cloud storage players with a unique, blockchain based solution
  • Good team
  • Fair ICO
Bad
  • Heavy competition from established players
8
Great
Potential Impact - 8
Team Experience - 8
Legitimacy - 8
Written by
George is an avid market analyst, reviewer, veteran ICO investor and Hearthstone player. BitCoinTalk profile: JainaVsUther

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