Hey guys, I’m back for another review. For this one I chose Sharder [SS].
Financial Disclaimer: I did not receive any sort of payment for making this review. This is purely done out of my own interest to share my thoughts and educate people about Sharder. I do personally hold Sharder Storage (SS) tokens however, so I am biased. My investments are my own and in no way should they be seen as financial advice. Alright let’s get into it!
I’ll start with a quick overview:
Sharder is a Multi-Chain Storage & Validation Network. What does this mean? Well, basically Sharder is building a decentralized cloud data storage network.
They have designed SharderChain to be interoperable so it’s compatible with any Public or Private chain that wishes to deploy Sharder protocol.
Sharder created a distributed P2P storage sharing network where users can share their extra storage space to the network and get rewarded for it.
Got a device laying around with way too much storage space than you need? Well why not dedicate some of it to the Sharder network and get paid for it? ;)
Security
You may think: But how is this secure? If my data is being stored on someone else’s device won’t they be able to access it?
Not at all, the way it works is like this: Before data gets uploaded to the Sharder network it becomes encrypted. That data then gets shredded (Sharded) into small pieces. These small pieces (Shards)get distributed over the whole network. This makes it so that there is no single point of failure. There is simply no way for anyone to get access to your data. Ahh, the beauty of Decentralisation…
Data is the new oil… But where do you store the oil?
Is the product needed? Well as our society evolves, we are turning into a Data-driven world. The amount of data we produce every day is truly mind-boggling. There are 2.5 quintillion bytes of data created each day at our current pace and that pace is only accelerating with the growth of the Internet of Things (IoT). 90% of all Data in the world right now was generated in the last 2 years! Read that again and let it sink in.
While the creation of data grows at an extremely rapid pace,the growth in storage capacity lags far behind. The demand for storage is far from being quenched, on the other hand, there is a great amount of storage space of individuals and enterprises that lies idle and causes great waste of resources. Additionally, there are many pain points in current centralized storage systems like Amazon cloud or iCloud etc., such as being un-encrypted, prone to data breach and abuse, alterable, impermanent, and costly.
This proves enough that there is a MASSIVE market out there for Sharder.
Decentralized Storage is not the only thing Sharder provides, let’s talk products.
Hardware
One really cool thing that I absolutely love about Sharder is the fact that they developed their very own hardware.
400 hubs have already been sold with the next batch planned for release in Q3.
These dedicated devices allow you to become a poweruser for the network.
The Sharder boxes are going to be a real revenue generator for Sharder because of the groundbreaking fact that they will be programmed to mine other PoS, Dpos coins while simultaneously storing data and mining for Sharder. For example: You’ll even be able to use it for ETH2.0 etc…
This will open the door to partnerships with many other projectss and further reduce the SS supply, as every box will have an establishment transaction fee which will be burnt. Exact number of SS is still TBA in Q3.
Software
Since Sharder built their own blockchain, a myriad of applications can be developed to run on top of it.
Signease is one of the original dAPP’s built within the Sharder Ecosystem. Signease’s services emphasize data storage, certification, and security platform which serves peer to peer finance, small loans, consumer finance, e-commerce and ERP systems. Signease’s technology enables businesses, enterprises, organizations and governments to store various types of data within the dAPP: e-contracts, payment documents and investment records are recorded on-chain which perpetuates immutability and transparency. Signease also provides notarized security certificates and legal evidence records for the data stored on Signease based on blockchain’s traceable and immutable features.
Now Signease really excites me as it is already being used by over 125 institutional clients including the Hangzou Court of the internet which is really impressive.
Signease also brings with it a lot of demand for the SS token as every contract stored on Signease is validated by Sharder at a fee of 10 SS.
Right now Signease runs on the testnet, but once the mainnet launches in Q4 the 10 SS fee will be implemented instantly. Resulting in constant buy pressure on the exchanges.
Signease can also be implemented on other blockchains,which was already done recently by Elastos: https://www.reddit.com/r/Elastos/comments/emzb8z/ama_with_signease_hosted_by_enter_elastos/
Recently Sharder has been approached by Stellar Lumens involving Signease as well, it’s still to see if something will come from this but it’s exciting for sure to see such a large player show interest in Sharder’s tech.
ISLAND
Sharder is being paid by ISLAND to develop this app. Know anyone who has sensitive photos, videos or documents on their phone that they want access to but don’t trust who has access to their phone’s gallery, icloud or google cloud? ISLAND is the solution.
The app will compete with other hidden / secret photo apps but goes 10 steps further, you can store data behind the app, so its not in your gallery but still uses your phone storage for instant access. Or you can upload / download to Sharder Network so no records are on your phone until you retrieve it with Sharder Chain.
Island will be a blockchain storage app for your mobile phone to store sensitive photos, videos, documents and notes without utilizing your phones storage. It is an ideal solution for anyone concerned about who has access to their phone / cloud storage. The App which will be released on the App Store and Google Play. ISLAND will require SS to pay for storage costs and upload bandwidth.
It is forecast, at current market rates that ISLAND will require to purchase 66 SS per user / per month. They are forecasting 100,000 users by March 2021. 66 SS * 100,000 Users = 6,6 million $SS / per month!
Yet another source of constant buy pressure for the SS token like with Signease.
Blockdrop
Blockdrop is a new app they are developing as a blockchain alternative to the world-famous DropBox. As you probably know, China has always been agressive in promoting their own products over western competitors. That’s why in China you have Weibo being much larger than Twitter, even though it’s essentialy the same product. This makes me think Blockdrop might really take off there. More info on this app will come in Q4.
Tokenomics
Now this is where it gets exciting. The total supply is 500 million SS. However, this supply will be ever decreasing as Sharder implements a 10% burn on all transaction fees.
Circulating supply as of now: 350 million SS
Non Circulating:150.5 million =
-Reserved for Mining Rewards: 88.5 million (This will take over 10 years)
-Foundation Reserve: 29 million
-Team Tokens: 33 million (15 million locked until March 2021)
With the launch of the mainnet staking will also be introduced and further reduce the circulating supply.
There has already been a test phase for staking on the Testnet which resulted in over 37M SS staked. Mainnet staking is forecast to be at least 4 times that, which would mean 150 million+ staked SS, thus removed from the circulating supply.
Market cap potential
Now I’m really bullish on Sharder’s potential marketcap growth and here’s why:
Right now Sharder’s market cap stands at about $1.5m.
Even if all tokens were to be unlocked right now the market cap would still only amount to about $2.5million! This would be with all 500 million tokens in circulation. However, it is never going to come to that since mining rewards will still take over 10 years and by the time team tokens unlock plenty of SS will already have been burnt because of the 10% burn system.
One of Sharder’s closest competitors, Siacoin, stands at a market cap of $150 million. That’s 100x the mcap of Sharder! Now realise that Siacoin has an unlimited supply and no burns at all.
With Sharder already having working, revenue generating products like Signease and soon ISLAND. I can only but imagine how much the marketcap will grow due to the constant buy pressure + 10% burns.
Exchanges:
Sharder is on a couple exchanges but the only one I can recommend right now are IDEX and Uniswap.
https://uniswap.info/token/0xbbff862d906e348e9946bfb2132ecb157da3d4b4
They are working on a Kyber listing as of now and a top tier CEX is planned for Q4.
So here ends my review, hope you guys enjoyed reading through it and understand a little more about Sharder and what they do ;) Thanks for reading!
Sharderchain telegram: https://t.me/sharder_talk
