Exscudo is a mixture of legacy and cryptocurrency-based financial instruments for international finance. Currently, early investors receive a 10\% incentive and can invest for about .0002 each EON. Exscudo stands for “exchange” and “escudo,” that was the currency of the great Portuguese empire.
“We’ve combined the best practices from the centralized and decentralized strategies,” Exscudo CTO Alex Sitnikov says in a video debut of the platform. According to him along with his group, the centralized exchange constructed into the Exscudo platform isn’t a red flag for cryptocurrency fans, but instead a “supply of liquidity.” However, all exchanges are sources of money, are they not? And would not the point of becoming “open and harmonious” be to supply a dumb pipe for trades to travel down, without the requirement of the token’s developers — whatsoever?
The general public face of Exscudo is exceptionally well polished. A dense 47-page whitepaper summarizes the project. Within this document, Exscudo purports not to be a rival of Bitcoin, Ethereum, or anybody else — rather, their objective is to provide “flexibility” that these platforms do not. This begs prompt questions, because the statement “existing blockchain systems couldn’t provide us enough flexibility, independence and functionality out of third parties” requires substantial eligibility to ring true. In what way, for example, does developing a brand new third party platform solve the issue of reliance on third-party programs? Users are just now relying on this untested third-party.
The whitepaper is not dishonest, however. It notes the EON blockchain isn’t particularly better — the reason behind producing it was a matter of independence.
… it empowers Exscudo to be separate and launch new functions when it’s necessary.
These things might not be a whole project killer, though, since the job appears to have an assortment of goals. Let us go over them.
1. Enable simple transactions for consumers without much technical experience.
That this marketplace is becoming more crowded isn’t always a drawback, however, novelty is important if it comes to driving value toward one factor. A similar goal of the project is to provide fiat debit cards to users, something that took several years for additional new world currencies to develop.
2. Make it simple for miners to get from mining to cashing out.
Exscudo delivers a massive range of cryptocurrency pairs to trade compared with the mainstream crypto-currencies and fiats.
It appears that a version of proof-of-stake is used to mint cubes, with users being required to put up capital in order to process transactions.
3. Give an API for retailers.
Merchant APIs continue to be a rarity from the Bitcoin world, with just a few principal players including Bitpay. Having this from the beginning as a core-developed project is a worth. The Exscudo merchant API would enable the approval of Bitcoin and other cryptocurrencies in the Exscudo ecosystem.
4. Provide trusted trading platforms for international private traders in addition to associations.
5. Provide a secure messaging program.
Others could presumably constructed in competition with it. Channels could grow to be a investor’s Signal app, and may rightly be the only valuable offering here.
Who’s Behind Exscudo
With this article, we’ll focus on the figureheads. As stated before, the stage has a very polished look and texture, which can be attributed to the front group. In our era, this does not necessarily imply anything at all. Good web developers are increasingly common, to the point that the business is moving into a self-service version by and large.
With over 18 decades of expertise in IT technology and their integration into the real sector of economy he’s worked on managerial positions for more than 8 decades now. He is a consulting expert on DAPPS Ethereum and consults major Russian financial market players on cryptocurrencies trading. Andrew is a specialist on blockchain technology and decentralized cryptographic data transport networks.
Based on LinkedIn, Andrew Zimine is Estonian, an alumni of Vyatka State University, and has functioned almost exclusively in executive abilities during this career. It’s difficult to reconcile the promises of his public-facing bio with his LinkedIn resume.
Next up, we have Alex Sitnikov, from the movie. Sitnikov functioned for Big Blue (IBM) from 2007-2010. That really is a big plus in terms of his comprehension of how large organizations operate and use money. He’s eloquent in his saying of the project, and if the job takes off, will be a valuable asset in terms of specialist communication.
Then there are several lead developers, presumably in charge of hiring others who do not make the listing. To credit for the amazing web design is one Aliaksandr Zahatski, who previously had an executive role at a “major e-commerce company.” Some research shows that this company was VZV.su, a clear Eastern European answer to Zappos, but only for sneakers. From that side of the pond, it is difficult to determine the validity of the usage of the expression “major,” but one thing is for certain: that fellow knows how to make clean sites that are appealing to customers.
It is not looking good for Exscudo. Maybe the writer is salty, having covered dozens of scams and failed cryptocurrency jobs over the past few years, however, there are some seriously serious drawbacks to Exscudo that are not satisfactorily addressed. Let us discuss them in detail prior to pronouncing a security score with this ICO.
Among the very important things about cryptocurrency and cryptography generally is the code is available for inspection by safety researchers around the world. Much of the Exscudo platform, and the Eon blockchain product, are likely to be closed source. According to these, this really is to get security. This alone is guaranteed to earn it poor reviews out of cryptographers and cryptocurrency experts, in addition to programmers who may otherwise have been interested in building products for the ecosystem. This isn’t 1996. If it is not available, there needs to be a great reason, and “because safety” doesn’t pass the bar. But for People Who want to be forgiving with this score, the whitepaper does notice:
We’ll publish the source code regarding consensus principles, coin emission and prevent verification on GitHub. The description of the mathematical model is available in the EON whitepaper on the site eontechnology.org.
Hacked readers already understand that this is not the first “incorporate all of the coins” solution, and certainly not the past. Exscudo needs to have some serious ventures, on the scale of BBVA or the World Bank, to be able to actually set itself apart. Unfortunately, it is not boasting such.
Murky team. So you say, “Satoshi Nakamoto was anonymous. What does it matter who’s building these projects?” Typically, on this score, you would be right. But Exscudo needs to understand your identity to be able to use the platform fully (which could be regarded as a plus for regulatory issues), so you also should need to find out more about its own backers. They claim to get around $6 million spent of their own money, but that begs the question of why not just sell the coins in an on-going basis, instead of using the ICO version? There are a whole lot of unknowns in their group portfolio, and this might cause scaring off prospective other investors apart from yourself.
Enormous pre-mine. 35 percent of the total coin supply will stay with the Excsudo team. That is absurd and almost begs the question of why create a currency at all. If 35\% of the US dollar were at the hands of over 10 individuals, would it be thought of as a currency? We might have a situation where most of the “riches” is controlled by some, yet this wealth amounts to far more than simply their money. By that metric, Exscudo is a lot more extreme: 35 percent of the currency as well as the entirety of its liquidity is controlled. Are they sure they’re utilizing decentralization appropriately?
These factors are very serious. They do not necessarily spell out a scam, but the thing could easily go that way! These variables combined, while comparing Exscudo to competing plays (like Humaniq), create its monetary safety rating very hard to update beyond a 3.9.
The writer could be erroneous, and you might get lucky, but what we are looking at here is something that most conventional investors could decide they don’t need and any cryptocurrency specialist would run off from. The thought could be noble: make it easier for traditional investors to get into cryptocurrency, but we’ve got such deals on the table or in progress through ETFs and professional-grade trading platforms such as Gemini or even Bitfinex.
Again, the writer could be incorrect. As always, this is only 1 person’s view. Other viewpoints so far seem to be overwhelmingly favorable, but one must keep in mind how easily a few “journalists” are purchased off in this day and age. The writer didn’t pollute this informative article with someinput from the Exscudo team themselves, but purely graded it on its apparent merits (or lack thereof.)
As mentioned, 35\% of the coins will remain with the Exscudo people. Some more will be issued to those who are answering bounties — doing things for your project that haven’t previously been done, including evangelizing (which can be fishy, because it should not be something users need incentive.