Tolar ICO Review | High-Throughput Cryptocurrency & DApp Platform

Name: Tolar ICO Review
Item: Tolar ICO Review | High-Throughput Cryptocurrency & DApp Platform
Rating: 7.7
Author: Coindrift Team

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Coindrift Team

June 7, 2018

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Tolar HASHnet Token Metrics & Key Info

Total Supply: 1,000,000,000
Available in Sale: 35% of total supply
Hard Cap: $35 million
Market Cap: $100 million
Token Type: ERC-20 before mainnet launch
Ticker: TOL
Pre-Sale: Yes, but now closed
Whitelist: Yes, see website for updates
Public Sale Live: ~last week of August
Weekly Bonuses: N/A
Volume Bonuses: 20% in private sale with 50 ETH minimum, 10% in pre-sale
Token Distribution Date: TBA
Website: https://tolar.io/

7.7 Total Score

Tolar ICO Review

Tolar is a 'beyond blockchain' project that is trying to solve the scalability issue faced by many blockchains through utilizing a novel directed acyclic graph (DAG) architecture called HASHnet that they claim can scale to 200,000 tps. The team aim to achieve this through an asynchronous consensus protocol called Redundancy Reduced Gossip, which has efficiency advantages over structure-based group communication algorithms. The network will use Proof-of-Stake and masternodes to reach a distributed consensus, which require a minimum of 500,000 TOL to run. Tokens can also be used for voting in the community governance system called Magnus Consilium, where network development proposals called Tenders can be submitted and users can vote to pass or reject them.

Market Size

Team

Token Utility

Product Development

Social Signals

PROS

Full nodes can be run on a mobile device, which makes Tolar way more accessible and versatile.
The team plan to implement the Ethereum Virtual Machine (EVM) into Tolar HASHnet, which means that any DApp built on top of the Ethereum protocol can migrate seamlessly to Tolar.
Large team of 24 total members with wide range of experience in research, founding tech companies, business development and marketing should help Tolar to achieve its goals. Founder Josip Maricevic was a core developer at cross-blockchain project Blocknet, though we struggled to find much more blockchain specific experience on the team.
Community governance is a nice feature as it enables the project to serve the community and prevent malicious actors from taking control of development.
Anyone with enough TOL tokens can run a masternode, which makes Tolar HASHnet more decentralized compared with competitors like Hedera Hashgraph, who are handing out their 39 nodes to only companies they select. The only downside is that a masternode costs roughly $50,000 at ICO token price to run, which prices many out.
Blockchain infrastructure projects are very popular right now, so the Tolar ICO fits the trend and could make a good short term flip if the project generates enough hype.

CONS

The actual content of the whitepaper is only 9 pages, there is no GitHub MVP or prototype and the website consists of only 1 page. For a project with such hefty goals, there is minimal evidence or information to substantiate the claims of 200,000 tps. A live demonstration showing 100,000 tps is due to be scheduled for the end of June, so we will update this article if/when this occurs.
Blockchain infrastructure projects are very popular at the moment, with every other ICO claiming to have solved the scalability problem with 'X' tps e.g. Quarkchain, Hedera Hashgraph, Fantom etc. However, it doesn't mean anything if no one is using the network, so without any partnerships or DApps built on the platform, they are essentially worthless. Yes DApps could migrate to Tolar through the EVM or build directly on the platform in the future, but there is no guarantee of this and without confirmed partnerships it makes the Tolar ICO highly speculative.
Not only is the ICO space for infrastructure projects highly competitive, but Tolar will also be competing with established platforms like Ethereum for developers to build DApps on the platform. Other than speed, we so no real reasons why developers would move to Tolar over established and trusted alternatives. It also assumes Ethereum will not manage to scale in the future.
Token metrics are not very appealing. A fully diluted market cap of $100 million is a big valuation for a project with no product.
Social aspect is quite weak at the moment, with no Reddit and only ~1000 Twitter followers. Telegram is better with 7000+ members.

User Rating: 5 (1 votes)