Hacken & Achain Reviews
In the following article I am presenting my smaller reviews of $HKN and $ACT — they were too short to feature them in a solo post. Since the write-up was done already some time ago, be aware not all points might be as valid as they were during the time of creating those reviews. As always please DYOR on the projects before reading to fully understand the points I will be making. Enjoy!
Hacken
We are starting with Hacken, a cybersecurity marketplace — https://coinmarketcap.com/currencies/hacken/
Pros:
- Cyber security is a hot topic, especially with a lot of attacks on recent ICOs. That kind of service is a growing need not only in crypto.
-Not much crypto competition yet — Quantstamp does only the smart contract auditing part and PolySwarm can be working alongside Hacken.
-They are already working with some partners (SingularityNET or Legolas as some of the examples, over 16 overall) and the list is growing quickly. Good adoption among the crypto scene - The company is growing rapidly, hiring new people and showcasing revenue. And that’s outside of overall solid team with a lot of background experience in security industry.
- Partnerships with exchanges can put HKN token in front of the line to getting listed
- There isn’t much hype about the project — which is good since it’s already on the market and allows you to snatch it before it picks up more traction
- Low marketcap and supply
Meh:
- The platform is heavily focused around HKN Token and it makes it work, but outside of the burning program, the whole marketplace could’ve been working on any other currency and it wouldn’t change a thing.
- Success will highly depend on their ability to attract users on the platform — I couldn’t find details how they are planning to solve their marketing
Cons:
- They are really trying to do a lot of different stuff (penetration testing, audit, anti phishing, accelerator program, HackIT, analytics center etc) and they didn’t reach their target in the ICO. Some parts of their ecosystem are close to being done but overall view on their development map is still long-term and remains very ambitious.
- A lot of processes, even including HackenProof are centralized and directly involve the team doing the work. That raises a regular question of scalability of the project in all of its created areas and puts it on direct competition with non-blockchain companies (with a lot more money and more stable foundations available).
Verdict:
I will be trying to snatch some of it, especially that I’m hearing crypto goldenboy Suppoman is about to shill it (unfortunately). I am not sold out completely on them realizing all their goals, as that whole ecosystem would be ridiculous (ridiculously good), and the main innovation is the marketplace — I feel there is another USP lacking here to secure their top position with undoubtedly more projects incoming into this market in the future. But yes, it is undervalued as of right now.
Achain
AChain $ACT — https://coinmarketcap.com/currencies/achain/
Basically it’s a NEO/ETH competitor, also from China, that has been somewhat under the radar for some time now. It’s in development since 2015, going nicely with their road-map, team is filled with developers. There are no huge personalities in there but they provide constant updates, team is well diversified and well, they have a working platform already that grows, so I can put my money on their plans going forward.
Very important thing — it’s definetely a long-term hold and not a swing trade. It’s mostly due to their forking network (more on this later) and current development stage — they are pretty far, it’s not a project that will grow on speculation but on now recognition and further development alone. Steady growth.
300M circulating supply and 125M marketcap — even catching up to NEO would take this up to 6000% of growth — but I wouldn’t count on it. I wouldn’t generally count on similar projects to chase the biggest players just because they offer same stuff. There must a big innovation in order to close that gap.
The tech is good — 1000 TPS (same as NEO) and supports, outside of Lua language, Java and C++. More languages are planned for the future. Their main USP is forking network — basically they are offering others a chance to fork their blockchain with all the forks being connected by VEP (Value Exchange Protocol) creating a whole ecosystem that anables cross-chain communication. In simpler words — forked project do not live their own life but are part of the bigger network which can interact between each other. What should be important for investors in this is that everytime a fork is being done, the holders of $ACT are getting free coins off the forked project, so basically free money. It would be vulnerable to pumps&dumps with bigger projects coming up ($NXY, $ETC cases) but for longterm holders that got $ACT at the low price it’s a very attractive opportunity.
They currently have 10 Dapps and 30 contracts overall on the platform, including popular lately PundiX. Generally they are no way not on par with their main competitors of NEO and ETH in that regards (which builded a whole ecosystem already) but with growing exposure it might attract bigger players willing to create on their platform.
Chart is surprisingly cool during current shitstorm. It had a very smooth first run-up with retracement to 0.786 fib and is now consolidating at stable levels. BB squeezing, everything looks prime to start going up when other KuCoin stuff also wakes up.
I can see how it’s easy to like this project as the value it offers is not much behind its current competitors (speaking only about the tech), but I can’t see how can it really become a significant player with projects like $MAN coming into the space, providing much better and innovative USP than forking network. With NEO as the Chinese competitor and much better ecosystem created in there already (which means instant partnerships as 1 opportunity) I can’t see this having an upper hand being behind business-wise. It’s still a good project, undervalued for what it currently offers, but I wouldn’t call it NEO killer or the next 100x. It’s a quality that will probably be appreciated by the market but not FOMOed.
So as the final verdict — carefully good longterm hold.
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