Cryptocurrency review 5: Datum
Welcome everyone to crypto review.
Here you can read about various cryptocurrencies, learn about them in depth. What they're trying to do, team, development etc.
The purpose of this post is to help every crypto enthusiast with investing.
Today we will be reviewing "Datum" , we will take a look at what they aim to do, team behind it, roadmap, general crypto info etc.
General Cryptocurrency information:
Name: Datum (DAT)
Metrics (Block size, algorithm, fork, supply etc.):
Fork/Platform: Ethereum (ERC20)
Algorithm: Etash (ETH is used as gas for transactions)
(It was an ICO, here is some Token info from their white paper)
Token Distribution:
Public: 51%
Datum Core Dev: 20%
Reserve Fund: 29%
The amount that Datum raises for their project will be used as follows:
Operations: 15%
Legal: 5%
Security: 5%
Marketing: 15%
Development: 60%
Market cap: Market Cap: $21,296,832 USD (at the moment of writing this post)
Circulation Supply: 904,066,878 DAT
Total Supply: 2,653,841,598 DAT
Daily volume (as of now): $176,044 USD
30 Day avg. volume: $23,441,904 USD
Rank on Coinmarketcap: #337 (as the moment of writing this post)
All time high: $0.135 USD | 957 Satoshis
Vision/Problem it solves:
Datum is concerned about the data that the companies have about us, the individuals. And we should be too. That's why they're creating a platform where we can store & sell our own data (name, address, interests etc.) as we seem fit. On their website you can see how much your data costs to various different platforms, and how much they sell your data for.
Such as: Google, Facebook, Twitter, Yahoo, WordPress etc.
What's Datum platform?
The Datum network allows anyone to store structured data securely in a decentralized way on a smart contract Blockchain. The DAT smart token enables optional selling and buying of stored data while enforcing data usage rules as set by the data owner
How will it work?
Let's assume that there's a company who wants to buy some data for research purposes. Our friend here, John is willing to give up his personal information in exchange for some DAT tokens. By using Datum's platform, these 2 parties can execute a smart contract, which will be set by the company and John. Let's say John and the company agrees that for his name, address and 3 hobbies he gets 5$ (for the sake of the argument). A smart contract will be executed, the company will receive John's data and John will get 5$ in DAT tokens. John can also share it with everyone if he pleases, or not.
Partnerships:
I couldn't find any specific partnerships, because no specific names were announced (Thanks CM from telegram). They wrote in their Medium Q1 review, that they have 8 new partners who are distributing over 530K+ DAT tokens to the community.
Around this time (soon) they will distribute around 1.6 million (yes million) DAT tokens to two new partners. This should give every Datum token holder a boost, because what this means is that slowly but surely companies are starting to see that Blockchain is the new technology that will dominate our eco-systems soon. Remember, first ones to join the revolution, will be the ones who will benefit from it the most.
Social Media:
This is kind of... weird. One day, let's say on 4th of June, they will Tweet like 3-5 Tweets. And then just don't Tweet anymore for couple of days. Then, on 8th of June or something along those lines, they Tweet 3-5 Tweets again. I don't think that this is a good thing. It's better if you spread it out, 1-2 Tweets a day, instead of just multiple Tweets once a week or so. On Medium they also only post once a week. Not a lot of activity in my opinion.
BUT, there's a but they're going all around the world (team) to present their project. Which brings me to a conclusion that they don't care about the price action of the DAT token, they're first trying to sell the vision. Which, is the correct direction to go to.
Team:
I value experience more than degrees. Meaning, someone who has 4 PHDs in business, imo is less valuable than a person who has working experience in business for 10+ years (not talking about the bad education system yet😑). Because that person knows what it's like to be a business person. Why am I telling this, well they got a big team. 16 members in their team, not counting advisers (which then makes it 21). We can see that the team members have a lot of experience in different fields, but I don't know them. I'm very familiar with businessmen/women, and these people have never heard of them. Yes their team is big, yes they have experience and are professionals but they're not known (but then again, Steve jobs would take all the credit, think about how many people's credit he stole🤔). At the end, I think they're capable of achieving the goal!
Product:
There's an Alpha release which you can already download it (both on IOS (as Web app) and Android.)
I have looked over their Q1 review, and a lot of updates, new partnerships coming up (they say) a lot of new team members.
Their main net launch of the Datum platform is scheduled to be at the end of August. (in 2 months from writing this review).
"At this point (August) the Datum Network will consist of the decentralized Storage Layer, the Datum App, Open API's to submit and consume data and a full fledged trading system".
Every Datum investor should be excited for this!
Exchanges:
Rating:
Total 10/10 (2 each)
Product 2/2
Alpha released for couple of months now, new features added each month and their main Datum network launch is in 10 days with 2 new partners coming in with big amount of $$$.
Datum is available on Android and on IOS (As a Web App). The normal IOS app is in working (I assume because with Android they got more people on it, Android dominates the industry).
Team 1.5/2
They're going to conferences/summits and selling the idea of Datum platform, which is great and all. But you also need to be connected to your community. Which i think Datum team fails to do.
Maybe weekly livestreams would be good where community members can ask questions or just hang around, discuss news (like Adbank CMO does).
Because of that, I think 1.5 is fair.
Social Media 0.5/2
I don't think that pumping out multiple Tweets in 1 day and then for couple of days not being active is not that good of a strategy. You don't need to Tweet and write blogs on Medium like a crazy person, no no that's also bad. You need to find the balance between these 2, and I think Datum also fails at doing this.
When they Tweet 3 times in 1 day, maybe Tweet one on the first day, and 2 on the next day. Same goes for Medium. Instead of Q-updates, maybe try small updates each month, this way you can entertain the community a bit more and they will have better insight about what is going on with the project.
Partnerships 2/2
Not much to say about this. They haven't announced any specific partnerships, it's all secret until NDAs are cleared and they're ready to be announced officially.
But, because they said 1.6 DAT tokens were given to 2 new partners and that 8 partners already distributed about 530K+ DAT tokens to the community, gives me hope that there are BIG news coming up.
Exchanges 2/2
Huobi, Kucoin, OKEx, COSS (and DEX) they're all great! Only OKEx and Huobi is enough for 2/2. Because these are really, really big exchanges.
(With OKEx on the 1st place with volume and Huobi on the 3rd)
And they're also working on getting on as many exchanges as they can, which of course is a good thing. Because many people from different parts of the world can go onto their 'native exchange' (based in their country) and exchange it there safely.
Total: 8/10
If you liked my review, please give it a thumbs up and drop a follow! Also, comment down below what you think about Datum, their vision, team. Are you invested in it?
Have a great day everyone!
You have a minor misspelling in the following sentence:
It should be remember instead of remeber.:D
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