Strength, Weakness, Opportunities and Threat (SWOT) Analysis of Sparkster

Sparkster Decentralized Cloud: It would facilitate the execution of Smart Software in the Sparkster no code Platform, disrupting a $246 billion-dollar cloud computing industry and going to distribute a significant proportion of revenue to the participants of the sparkster decentralized cloud through Spark token.

Sparkster Smart Software: It’s an environment in which software can be designed in a drag and drop fashion by defining business logic in plain English. It is composed of Flows which assembles other core components such as Functions, Documents, Devices, Integration, Gateway, AI etc. Flows constitute the definition of software. Functions are single building blocks that performs a unit of work. Documents are the basic data storage entity. Devices are physical device in the real world. Integrations are interface to the outside world. Gateway represents a group of devices that are connected to the one gateway which share one internet connection and reduce deployment cost.

• Prototype: Sparkster Platform and Sparkster Decentralized Cloud beta has already been released whereas Sparkster Platform has already been tested.

• Transactions per Second: Would run operation at Sparkster platform to build Smart Software at over 10 Million Transactions per Second. Currently which is 52,963 TPS.

• True Decentralized Oracles: Can integrate anything with plain English such as AI (Artificial intelligence), IOT (Internet of Things), Smart Contracts, API, etc.

• Unique idea: A platform which empowers general public to build software in plain English, without any coding knowledge, as more than 90% of the general public doesn’t know software coding. With such empowerment, anyone can make/sell their ideas into reality in a sustainable way.

• Integration to existing business process: Existing software (SAP, Oracle, Microsoft) are incapable of interfacing with future technologies (IOT, AI, Smart Contracts) to integrate into existing business process. Also, majority of software developers lack technical knowledge of AI, IOT AND Smart Contracts. As such inaccessibility of technology is the bar to the innovation of new ideas and many start-ups. Sparkster offers the solution by facilitating existing business process integration with blockchain technology through its platform.

• Unique Performance: It can achieve building software 100x faster, cheaper and easier than any alternative with simple dragging and dropping a block without knowledge of coding.

• Privacy and security: ‘Natural Isolation Boundaries’ has been used to distribute data across the network, never synchronized which is nothing like SHARDING rather is ‘SHARED ARCHITECTURE NOTHING’ to protect privacy of data. Implemented and integrated AES 256 encryption and OAUTH 2.0 with enterprise ready Sparkster platform to ensure security.

• Cost saving through achieving ‘Economies of Scale’: The average cost per operation in Traditional cloud computing, (offered by companies like Amazon, Microsoft, Google, IBM) remains constant irrespective of number of nodes added to the network. Whereas in Sparkster Decentralized Cloud, the cost per operation in the network decreases with the increased number of inexpensive nodes (such as cell phones of general users). The more the participants, the less the computing costs.

• Existing Strategic Partnership: Official partnership with ARM (One of the world’s largest computer chip designers) and Libelium (an industrial sensor and gateway distributor). Which would facilitate not only sharing ideas and creating solutions but also in increasing customer base and accessing market leading specialists.

• Strong, experienced, dedicated and motivated team: All experienced in different world renowned companies such as CISCO, ACCENTURE, HSBC, IBM, CITI, THE TIMES, SNAP DEAL etc.

• Strategic Advisors: Professor Gary Leavens (Chair in the Department of Computer Science at the University of Central Florida) and Juan Albelo (Senior Vice President of SAP)

• ICO Advisor: Sparkster’s ICO advisor is Ian Balina who is an influencial Blockchain and Cryptocurrency Investor, Advisor and Evangelist; who had appeared in Wall Street Journals, Forbes, CNBC, Huffington Post, The Street, INC, and Entrepreneur Magazines for his work in analytics, cryptocurrencies and entrepreneurships. He has massive community follower (153K+ in Twitter, 30K+ in Telegram, 123K+ YouTube subscribers). Sparkster ICO has been massively hyped since his involvement with the project has been announced.

• Business strategy: Sparkster Platform would be free to a certain number of transactions for individuals. Commercial capacity would be subject to ongoing fees in the form of license, still would be much lower than traditional cloud computing.

• Marketing Strategy for mass adoption: Sparkster Platform would be free to a certain number of transactions for individuals and the limit would be lifted if refer new user. This ‘Word of Mouth’ marketing strategy would facilitate mass adoption by community.

• Reduction of CO2 Emission: Traditional Cloud computing is predicted to consume 1,963 billion kilowatt hours by 2020 and the anticipated CO2 emission would be 1,034 Mega Tonnes, which is unsustainable. Whereas decentralized cloud computing would use cheap devices such as cell phones for mining unused phone capacity, which would drastically reduce CO2 emission.

• Competition: AI, IOT, Etherium Smart Contracts, IOTA Smart transactions can be built without a single line of code and hence has tremendous competitive advantage as being pioneer in the market.

• Patent: Sparkster has engaged in the process of Patent application for reserving their technology and innovative ideas in an aim to create barriers of entry to potential competitors in the market.

• Revenue strategy: Companies pay for transactions using SPARK token and miners make their devices available as resources to the Sparkster Decentralized cloud in exchange of SPARK Token.

• Multi Chain Interoperability: Sparkster decentralized Cloud has native integration with Etherium and IOTA.

• AI (Artificial Intelligence) : Currently facial recognition supported.

• Micropayments: The Spark token facilitates micropayments in its platform that is completely negligible compared to the credit card transactions fees and its minimal charges in existing market.

• As miners make cell phones and IOT devices unused capacity as resources, there is no shortage of spaces and no limitations in the number of cells to perform transactions in Sparkster decentralized cloud.

• There is no limitation of data storage as its going to use the unused capacity of IOT devices and cell phones.

• There is no limit of TPS. The more the cell, the more the TPS.

• The cost would be negligible as the more nodes added, the lower the cost would be.

• Mass adoption is inevitable as the platform would be free for individuals with referral bounty.

• Micropayments facilitated to replace expensive credit card processing fees and charges.

• Software development would be done in days rather than in years due to its unique facility of drag and drop interface in building new software.

• Barriers to entry by new competitors as Patent application is on process.

• Inadequate TPS and limited number of software developers that are skilled in blockchain technology hinders the mass adoption of blockchain technology which Sparkster offers to solve by offering +10 million TPS and coding with plain English on its platform.

• Would facilitate decentralized execution of software built on Sparkster platform. Participants, on whose devices the functions would be executed, would be compensated with SPARK Token.

• IOT (Internet of Things) market industry represents $20 trillion by 2025. Existing ERP systems are unable to handle unscheduled machinery maintenance automatically. Sparkster’s primary focus is to make IOT devices fully integrated and adapted for smooth implementations in its platform.

• SMART Contracts would facilitate future interaction with Neo, Cardano, Steller, Ripple among others as currently only Etherium Smart Contracts and IOTA Flash transactions can be executed and generated in Sparkster Platform.

• Incentives would be put in place to increase number of miners who would be independently determine the charge for the use of their resources.

• The two inherent limitations associated with Steller Consensus Protocol (SCL) would be resolved by creating a self-governing network (an additional layer) with incentives to keep all actors honest, and give a decentralized cloud for the execution of software.

• Using Zero Knowledge proof (ZKP) and encryption of all data on the Sparkster Decentralized cloud would protect the privacy of data.

• Using anti-tamper and tamper detection approaches, as outlined in the whitepaper (page-33), the security of the client’s private data would be ensured.

• Sparkster aim to add support for other blockchains in the future namely Neo, Cardano and Stellar.

• Native language processing, speech recognition are some of the future Artificial intelligence that Sparkster aims to introduce in its platform.

• Software development without coding still sounds a bit vague and needs to be further proven by adoption of more companies to be successful.

• Neither of the team members has blockchain development experience.

• The number of users needs to increase day by day to drive the cost down and ensure economies of scale because of the scaling relationship between the nodes and operating costs on the platform.

• The Compliance Issue in cross border line may propose a challenge to businesses.

• GDPR (General Data Protection Regulation) can limit Storage nodes by restricting the non-European IP address to prevent sensitive data transfer outside of its jurisdiction. Sparkster decentralized cloud offer encryption and strong barriers in accessibility of data to solve this problem.

• Concept isn’t easy for a newcomer. Hence, need good education for mass adoption.

• The Business logic needs to be defined clearly before coding in plain English which might be too broad and vogue for beginners to understand and adopt before coding in Sparkster Platform.

• More strategic partnership needed alongside Arm and Libelium.

• Currently only Etherium Smart Contracts and IOTA Flash transactions can be executed and generated in Sparkster Platform not others ( NEO , Cardano, Steller, Ripple etc.)

• The number of mining participants is the crucial factor to reduce cost and increase cells to increase TPS.

• There are two inherent limitations associated with Steller Consensus Protocol (SCL) to arrive consensus amongst trustless parties. Lack of intrinsic incentives for good behavior and lack of formal methodology to determine whom to trust when forming consensus.

• Legal restrictions, and ensuring data privacy and security is the major considerations that need to emphasize upon to encourage adoption of public blockchain.

• Sparkster decentralized Cloud doesn’t execute payments natively. Hence, needed to integrate with other blockchains and virtual currencies to facilitate payment. Currently Sparkster platform has native integration with only Etherium and IOTA.

• Sparkster yet need to prove that their platform is ‘bug free’ as claimed in their whitepaper.

• Blockchain technology is still in its infancy.

• Business models changes over time but blockchain’s doesn’t.

• There are legal issues that need to be taken care of before the technology's cross-border application.

• Tax issues and money laundering issues in cross-border application would hinder its mass adoption.

• There is always the possibility of mining attacks, and hacks.

• Many more Government can follow the footsteps of USA and Chain in imposing regulations on Blockchain.

• Patent application of Sparkster is yet to be filed which is due in Q2 2018, anyone can come up with the same idea as Sparkster have before that time period (Q2 2018).

• Users might reject the idea of allowing their devices to be used as resources for Sparkster platform in fear of compromising their private data and security.

Conclusion:

From the above analysis, it is agreeable that the project is unique and has lots of future opportunities as it has a working product with high transaction speed where every person can create their own application. However, there are inherent limitations and threats which is associated with every blockchain projects (not only with Sparkster) that is the government regulation and Data Protection Act ; which might hinder Sparkster’s massive adoption.

Disclaimer:

This is not a financial advice and I am not a financial advisor. Information is provided on the basis of Sparkster Whitepaper, website and best effort which is subject to change without prior notice. Do your own research at your own discretion and be sure to verify.

Official Sparkster Links -
Website: https://sparkster.me/
Telegram: https://t.me/SparksterICO
Twitter: https://twitter.com/Sparkster_Me
Facebook: https://www.facebook.com/Sparkster-499767290423980/
Whitepaper:https://drive.google.com/file/d/1_341kbDEDc9PWn4lbsCGpAmcqDqcggUq/view

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