Hi folks,
It's me Vinh. I'm back with another review article. And regarding that, there is only a limited number of active blockchain projects that I have written about, today I present to you Seele - The Blockchain Gen 4.0

Coin Economics

Current price: $0.204836
Total Supply: 1,000,000,000 SEELE
Exchanges:

• HADAX - Its first official exchange listing which took place last month.
• Hotbit
• IDEX
• CoinBene
• DDEX

The market

Blockchain is a disruptive technology allowing us to come up with innovative solutions solving concerning issues in our life, especially the digital ones. Throughout the last decade, blockchain has evolved from the very first novel idea of a public ledger recording all the transactions for good to further advancements, each gen can be summarized with the notable features and accordingly representatives as below:

• Blockchain 1.0: Ledger of transactions -> Bitcoin
• Blockchain 2.0: Smart contracts -> Ethereum
• Blockchain 3.0: High performance + Advanced governance + Improved consensus algorithms + Large-scale applications + Cross chains -> EOS, DFinity, Cosmos,...

The problem

Unfortunately, even though there have been different generations in the revolution path of blockchain technology, there are still some major problems that are yet to be resolved once and for all:

1. Inability to scale up

Along with the rapid increase in the number of blockchain transactions, blockchains are rising swiftly in size, leading to slow transaction times. The reason is that the number of transactions one blockchain can deliver never exceeds that of any of the network’s nodes. Apparently, blockchains become more heavy and tedious as more nodes are added due to the logarithmical increase in inter-node latency once each node is added. As a result, we witness the blockchains' inability to scale up to process more transactions, which is a critical issue when it comes to competitions with the conventional rivals like Visa or Paypal regarding the transactions time, which might require the performance of million of multi-transactions processing every day.

This has always been the first and foremost issue that many blockchain networks want to solve, resulting in many proposed approaches to handle network consensus following the PoW from Ethereum:

• NEO claims to deliver thousands of transactions per second on its network. But the fact that there are only 13 nodes on the whole network is sketchy and the nodes themselves are centrally controlled since the team decides who has the right to run one.

• Cardano and EOS all use modified PoS algorithms but those need centralized control of the nodes to accommodate the transaction scalability as well.

• Off-chain solutions like Trinity Network Credit or Raiden Network are also raised but they are not widely accepted and recognized.

2. Failure to adapt and support diverse business scenarios

The above-mentioned issue is about the nature - the performance of the blockchain networks themselves. Now, regarding the business adoption - the usage. Who cares how good your product is when it can't be used in practice? And that is, well, the state of most of the blockchain projects right now. Many cryptocurrencies are issued to solve the problem of conventional markets, specifically eliminating the roles of intermediaries, but they lack the necessary adaptability to be in mass adoption, which is partly because of the inability to scale up described as above.

3. Lack of interoperability across different blockchain networks

Another problem caused by the hype of blockchain technology is that project teams from around the globe try to launch their own products aiming to solve certain problems without noticing the power we can obtain when going together, resulting in thousands of blockchain projects separately try to make the world a better place. And that is such a waste, as there is currently no link between different networks, the data which can be utilized to offer better services is locked up in some online infrastructures.

The solution

Led by international blockchain laboratories, Seele is a disruptive innovation offering new solutions to fulfill practical industry demand with unparalleled features:

Neural Consensus Algorithm

Neural Consensus Algorithm is proposed by the Seele team to take the place of existing options like PoS, PoW, DPoS and Hashgraph, etc. after studying the good and bad characteristics of them and then utilizing the necessary ones to come up with the best consensus algorithm.

I think of it as the best robot has been made after tons of previous failures. (you would be familiar with this if you are in the Artificial Intelligence field)

Specifically, even when each network connection's proportion of the system is less than 50%, it can still operate normally because the newly proposed ε-differential agreement (EDA) based on "micro-real numbers" has turned the consensus problem into an asynchronous request. An asynchronous request means that the events would not exist or happen at the same time and that request processes as well as sorts of data in large-scale environment, and has a very strong robustness network connectivity.

The remarkable attributes of this consensus algorithm include its ability to scale up linearly, meaning that as the node increase times in size, the network's capability rises up accordingly. In other words, the larger the node size, the better performance. Therefore, 1 million TPS is totally achievable.

Besides, continuous voting in consensus process instead of discrete voting allow better flexibility while
Adjustable and efficient parameters can be changed to be the best fit for a variety of environments and compatible with different networks - cross-chain communication.

The Heterogeneous Forest Network

The Heterogeneous Forest Network is comparable to existing blockchain or blockchain structures. Their blockchain and a complex multi-level structure and interconnected parts, however, each section has a separate function. This reinforces the belief that each such structure can meet the needs of the real world and can fully support multi-level business processes.

Heterogeneous Forest Network is a combination of different subnets with the placement of each as a hierarchical partition tree. Unlike the currently available single blockchain structure which is nearly impossible to support multiple business services due to the various scenarios in the real world, or multiple blockchains structure which is still flawed in terms of flexibility and customization, the Heterogeneous Forest Network has a much more sustainable and adaptive structure:

• On the top of the tree chain is a global service chain, called "Meta chain", in charge of global configuration and scheduling service.
• From top to bottom, it is a chain of various business forms. It is divided according to business scenarios, isolation mechanisms, and performance costs. The upper layer provides addressing and scheduling services to the lower layers. Each layer can be set independent governance mechanisms, such as access rights, flow control, security mechanisms, each layer formed a plurality of independent small ecology. The combination of the various small ecologies constitutes a complete large ecosystem.

It is undeniable that heterogeneous forest network architecture is the key to blockchain technology mass adoption because the definition, storage, transfer and transformation of resources and assets on the Value Internet is now empowered by it to promote Value Internet services integrations with conventional digital business. Especially when Seele is particularly designed for establishing the practical blockchain-powered digital economy.

Moreover, Seele has a quite interesting and novel feature called Academic focus which literrally focuses on research and study on the limitations of the current blockchain network, from which they solve the puzzle and build up the sustainable on from the bottom. Once a block is coded, it would be assigned to the Assembly Experts who would review before integration to the main system.

Team

The Seele team consists of experienced talented people with concrete achievements in their fields. Their CEO - Dr. Maolin Zheng is famous for his scientific contributions while their outstanding scientist - Dr. Wei Bi has proven himself as the perfect fit in the team with 8 patents related to blockchain technology and being the Secretary of China Blockchain Innovation.

Their development team is assembled from giant tech firms such as Tencent, Baidu and Microsoft, is responsible for the establishment of Blockchain and big data in the Seele project. Especially, there are 8 scientists are teaching at universities/masters and PhD scientific and technological researches.

And of course, they have a solid team to be in charge of their business operation and development activities to make the project a reality.

Regarding the advisory board, Professor Donald Lawrence, University College London, and Professor John Fox, Oxford University, are their technology advisors.

Social Media Presence

They have quite a lot of media footprints on various networks, which is great in term of coverage since it increases the brand recognition as well as the professionalism in the community's assessment.

Yet when we take a deeper analysis on their online community performances, they actually have good and bad sides:

• Good side: they have acquired quite a lot of audiences on nearly-30k-member Telegram chat channel as well as the Announcement one, which is great since this social media network is the hottest one when it comes to the information exchanging scope in cryptocurrency projects and interacting between the project team and the community. Another achievement is their Twitter account which has attracted more than 14.4 thousand followers.
  
  
• Still, there are some areas that need to be improved:
  
  For example, their Bitcointalk ANN thread is not really active and well-updated, which I highly suggest them to improve since this channel is one of the most general sources of information that ones in cryptocurrency world might come to acquire knowledge when they research on any blockchain project.

The other platforms have the same performance. So Seele's marketing team should definitely have a special strategy on this aspect.

Physical Presence

They have increased their physical presence quite well around the world in strategical spots in attracting continents like Singapore, London and San Francisco, which could be a huge advantage since they could have access to different supporting partners from various places, making the project even more practical.

Roadmap

They have been working well with their roadmap. In the very near future, they would complete their testnet and introduce it to the public to showcase their technology advancement, attracting more supporters contributing to this giant project.

My thought

In term of making impacts on the society, Seele is a practical project. It is meant to make mass adoption of blockchain technology around the world a reality, proven by the features it provide us with - those are tools set for building applicable projects implementing in all aspects.

Regarding the business angle, this is a lucrative project giving quite an ROI rate for early supporters. Specifically, its ICO price was 1 SEELE = 0.0324 USD (Equivalent to 0.00008000 ETH at that time), meanwhile, despite the current awful bear market which is heavily affecting the whole cryptocurrency world, its current price is $0.204836 USD - that is like 6.5 times return in USD and 6 times in ETH (7.87 times in BTC) - which reveals the concrete value of the project's potential as well as recognition from the community.

Project links:

Website
Whitepaper
Bitcointalk ANN
Telegram
Announcement
Medium
Facebook
Twitter
LinkedIn
Reddit
Github
Instagram

Author: Bitcointalk username: rueisnax (a.k.a. Vincentle — Le Huu Quang Vinh)
Profile link

Disclaimer: Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.

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