Korona Coin review - decentralized market place using the Raiden Network

in #korona • 6 years ago

In this article I will cover Korona, a project which aims to create a decentralized market place, by using the Ethereum blockchain and the Raiden Network to be able process friction-less transactions.

So, what is Korona?

Korona is a decentralized market place, which aims to connect businesses and customers all around the world in a trusted way by using blockchain technology. The Korona Ecosystem will be built around the Korona token and will consist in a wallet (mobile/business), an API for secure payment integration, a Cryptobank with fiat guarantee exchange, a market place and also a volatility tempering mechanism to counter the high short term volatility of the cryptocurrency market.

IDEA

The idea of having a decentralized 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. The challenges that current blockchains face are the high number of transactions slowing down the network, but Korona is solving this problem by using the Raiden Network protocol to make transactions within the Korona ecosystem almost instantaneous.

Grade: 5/5

TOKEN METRICS


The hard cap is pretty high, considering current market conditions, but the unsold tokens will be burned, so there will be increased value for investors if they don't sell out during the token sale. The total supply will be around 300.000.000 tokens, which is in the sweet spot for short term price volatility. If the price of Ethereum will fall, it may be a good opportunity to buy some tokens, since token price is pegged to Ethereum.

Grade: 3/5

ROADMAP

The roadmap is long term orientated and full of developments, which could potentially lead to an increase in token price due to speculation. The payment framework will be released as a beta version in Q2/2018, which is before the token sale is finished, but the Korona Ecosystem will be finished around Q3/2019.

Grade: 5/5

TEAM

They have a very high skilled team which covers all areas needed for the project to succeed. However, I couldn't find any advisors on their team, but assuming how many partnerships they already have, I guess they are able to handle the project without any advisors.

Grade: 4/5

PROTOTYPE

According to their website, during the ICO you will be already able to purchase some goods in three EU Member States, which is awesome. Also the initial version of the payment framework will be ready before the token sale is finished, so they will have a working prototype by then.

Grade: 4,5/5

TOKEN UTILITY

The Korona token is an ERC20 token using the Ethereum blockchain and it is mainly used to enable transactions of a wide range, as a medium of exchange and as a store of value. Korona will also be used to purchase goods / services within the Korona Ecosystem.

Grade: 4,5/5

COMPETITION

There is quite a few competition on this niche within the blockchain space, but it seems that Korona already has a few established partnerships, which could help it establish itself in a good position in the market.

Grade: 3,5/5

HYPE

Their Telegram channel has almost 5k members and their Twitter has around 9k followers, which shows that the project is starting to gain some traction. The presence on other social media is also decent, but there is definitely more room to grow in this area and I am sure the hype will increase as we proceed with the token sale.

Grade: 3/5

Overall conclusion

Korona is an ambitious project, with a long term orientated roadmap full of good releases, a strong team and a lot of already established partnerships, which could help the project grow further and develop to being one of the future market leaders.

Final grade: 4,06/5 (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.

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#raiden #ico #review #cryptocurrency
6 years ago in #korona by
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     6 years ago 

    At first glance, the project is quite good, you need to understand it. Perhaps it has a development perspective. From myself I would advise the perspective project of Tokengo, where I already understood and was completely satisfied with this platform.

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