Gath3r GTH Blockfyre Report

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1. SENTIVATE REPORT BY BLOCKFYRE | PAGE ‹#› BLOCKFYRE
2. Executive Summary • Targeting a large, ever-growing market with a decent product • Merged mining in combination with staking can provide high returns with little computational power • Gath3r makes it easy for enterprises to issue their own side chains, eventually resulting in a bigger ecosystem with interoperability • Several revenue streams and GTH utilities • IEO on a Top Tier exchange coming Highlights Risk & Concerns • It remains to be seen if web mining can gain mass acceptance despite the sceptisim of the people • Coinhive, the biggest competitor and main representative for this market, recently shut its doors, the specific reasons for that remain unclear for now • Web mining has been affected by cryptojacking malware softwares, making use of the victims’ computational power for crypto-mining Ticker GTH Price not tradable yet prospective IEO price $0.02 USD Initial Market Cap* $1.37 Million USD Initial Circ. Supply* 68.5 Million Total Supply 400 Million Token Type ERC20 Mainnet No Website gath3r.io Gath3r is a new web mining solution, that combines merged mining with staking. Through the support of auxiliary chains, they are providing a much more secure and interoperable option of web mining. According to the team, an IEO on a Top Tier exchange is going to come for GTH. Overview * Initial: at listing date, marketcap was calculated with IEO price, however depends on the opening price Source: Blockfyre Research | Gath3r Whitepaper
3. What problem does it solve? Monetizing websites has many drawbacks x • As of today, most websites still remain dependent on advertising revenue, such as premium postings, banner spaces, pop-up and sidebar ads. These ads generate revenue through comission from sales and are often sold on an impression or click model (referred to as CPM and CPC). Being the main revenue stream for many, it is often the case that these websites just flood the user interface with ads. As a result, the website quality commonly suffers, while making it an intrusive user experience for their customers, which consequently ends up in higher bounce and drop out rates. • With the start of ad-blockers this became even worse. Not only do less advertisements reach the customers, also the ad-quality dropped significantly with the attempt of circumventing this. • In 2017, the Blockchain hype and its various applications arising provided a new potential solution for website owners: in-browser mining of cryptocurrencies. The principal of removing advertisments and using the computing capacity of the website’s customers for crypto- mining seems brilliant at the first glance. However, so far most of the solutions are highly inefficient, requiring too much computing power and expensive data-processing centers. Remarkably, the susceptibility of this model to “cryptojacking” as evidenced by the recent 51% attack suffered by Verge, makes it a malicious threat as well. Cryptojacking Source: Blockfyre Research | Gath3r Whitepaper, Hackernoon
4. Online advertising market x The internet sector heavily relies on ad revenue • Companies like Google, Yahoo, Facebook and Baidu are highly dependent on advertising as revenue stream. • Google and Facebook earn more than half of all advertising revenue = centralization • Advertising within traditional print media like magazine etc has dramatically fallen with the rise of the Internet. As a result, premium postings, banner spaces, pop-up and sidebar ads became the most popular advertising option as of today The online adverstising market keeps growing • In 2014, PWC released a report about the growth of online advertising revenue. They found that the market keeps constantly growing with a rate of over 15% each year. • Another reseach report by eMarketer.com has compared ad spending behavior in the US in 2018, giving an additional outlook until 2021. It’s striking to see how traditional media ad revenue will constantly keep decreasing from year to year, while the digital ad market will keep growing significantly. Consequently, digital ad spending market size is expected to be more than $172 Billion in 2021. Source: Blockfyre Research | Gath3r Whitepaper, eMarketer.com
5. Market Situation x • With the exponential emergence of blockchain technology in combination with cryptocurrencies in 2017, many took advantage and realized its potential applications. As a consequence, various in- browser web mining solutions emerged as well, as combining this idea with the concept of cryptocurrencies was obvious Web mining is adopted by over 50.000 websites already, with famous representatives such as Unicef and Piratebay Web mining market Concerns • Current web mining solutions have often been affected by an emerging type of malware called cryptojacking, using one’s computers ressources for hidden crypto mining without knowing • Recently, the most dominant representative Coinhive was shut down, however the question remains whether it was due to the bear market or web mining itself Source: Blockfyre Research | Gath3r Whitepaper
6. Web mining as new revenue stream x • Web mining turned out to be one of the most profitable revenue stream alternatives to advertisements, especially with the emergence of ad blockers. • If one chooses web mining as their main revenue stream, advertisements could be fully removed and hence the user experience would be improved dramatically, which could eventually end up in a positive feedback loop with more customers. Also the reader retention and time spent on-site would be improved, which would in turn then increase the web mining revenue again. • We believe it’s important to mention that the web mining option would be always announced to the website’s visitors for the purpose of full transparency. Hence every visitor of the website would have the choice of allowing this or not. • Web mining removes intrusive ads, while not interferring with the design or user experience of a website. Besides, also it does respect user’s privacy, while trackers ad’s don’t. Eventually, both, customers and website hosters, benefit from web mining by monetization, while improving the user experience as well. What problem does it solve? Source: Blockfyre Research | Gath3r Whitepaper
7. • Once the website submits the correct hash, the new block would be mined and the website publisher earns the reward for that in the respective cryptocurrency • To further strengthen the ecosystem and to reduce operational costs, a combinational PoS mechansim will be employed • Gath3r’s solution provides mulitple benefits, such as transparency, better user experience and an enhanced user loyalty. This is enabled by the design of the whole ecosystem around the Gath3r blockchain. Gath3r’s solution Gath3r at a first glance • Gath3er is not just another in-browser miner, but a its own blockchain with a whole ecosystem surrounding it. • In general, website owners join small, medium or big mining pools, depending on their hashrate. Once the embedded Gath3r’s code on their website, website visitors will have the opt-in choice of providing their excess GPU or CPU power, while they are browsing through the website. x Source: Blockfyre Research | Gath3r Whitepaper
8. • All coins earned can be automatically sent to the staking wallet • Stakers will earn interest on their coins while having a higher power of validating transactions Gath3r’s ecosystem x Web / Mobile Wallet Based Staking • Litenodes are introduced to leave heavy data for Masternodes • Lower barriers of entry by order of magnitute, enabling faster consensus Masternodes & Litenodes • Enables unifications of blockchains • Every auxiliary chain forking of the Gath3r chain will inherit Gath3r’s smart contract capabilities, ultimately allowing for interoperability Smart Contracts • Auxiliary chains allow for merged mining of more than just one cryptocurrency • More profitable with less centralization • No additional work is required for the parent chain Merged Mining & Auxiliary Chains • Governing body • Awards grants to developers / projects building on the GTH chain • Custodian that deploy funds for the ecosystem development if needed Gath3r Foundation • Providing companies with a one-stop shop for all related crypto issuance needs • This includes chain launch, development, and mining Enterprise Sales Source: Blockfyre Research | Gath3r Whitepaper
9. x Source: Blockfyre Research | Revenue streams for Gath3r Economics & Governance Governance Gath3r’s chain voting system will be split into four different groups • Fixed charges for forking new coins • Subscription rates • Smart Contract charges • Network Interaction charges • Charges for creating new intermediary chains • Enterprise charges for launching & developing products Benefits of Gath3r • Transparency • Enhanced user experience • Loyalty program • Interoperability • According to the cryptronics.io audit of the Gath3r contracts, they are of good quality Source: Blockfyre Research | Gath3r Whitepaper
10. Competitor analysis x • Gath3r stands out to its competitors in many ways. Not just that Masternodes support and merged mining are completely unique compared to its competitors, also they are fully transparent and let users choose if they want to support web mining during browsing. Also the security factor through Auxiliary chain support is striking to us, as many other web mining solutions have been victims to cryptojacking. • Furthermore, Coinhive was shut down just recently, which has been the main representative in the market. Gath3r Coinhive JSECoin Source: Blockfyre Research | Gath3r Whitepaper
11. Tokenomics - GTH GTH utility GTH specifics x • GTH was issued as an ERC20 standard for crowdsale purposes. Once the Gath3r blockchain is fully launched to mainnet, ERC20 tokens will be swapped to the native GTH coin at a ration of 1:1 • The Gath3r blockchain will start with an unlimited supply, but will later on switch to a limited supply model, depending on several factors. - Sustained volume over time - Sustained hash rate over time - Number of participants / publishers - Number of active forks of a particular chain size • Once the chain moves to limited supply, only 1,314,000 new blocks will be made, which is approximately 60,000,000 coins which takes about 5 years to mine. • Payment for smart contracts • Payment for merged mining • Payouts for loyalty programs • Payment for paywall program • Staking • Masternodes Gath3r block specifics • Blocktime 120 seconds • Block reward 160 GTH • Halfing rate 600.000 blocks • Blocksize is adjustable • Difficulty adjustment algorithm : D601 Source: Blockfyre Research | Gath3r Whitepaper
12. GTH crowdsale details Token Information Symbol GTH Decimals 18 Contract Address 0xb8736ea3262a5210ee321f7a7389dda243c24acc Type ERC20 Network Ethereum Crowdsale details x ESOP Gath3r Foundatiom Marketing & Network Advisors Team Tokens For Sale Seed Round • Gath3r conducted an IEO on coineal.com, which took place from 27th-28th of May • During the IEO, the price was pegged to 0.00008547 ETH / GTH • However, participants that invested during this time were refunded by the team • The team told us, that the reason for that is that they are going to relaunch it on a Top Tier exchange, as they are currently in advanced talks with several exchanges • Seed tokens are vested, with 20% unlocked at the listing date • Team tokens are fully locked for 6 months and vested over 2 years • Advisor tokens are vested 3-6 months Token distribution According to the team, IEO on Top Tier exchange coming Source: Blockfyre Research | Gath3r Whitepaper, Coineal
13. Fund allocation Allocation of IEO funds x Legal Costs Product & Technology Development (includes salaries) 43% 25% 12% 10% 10% Already quite some remarkable marketing efforts have been made by the team Business Development Administration & Operations Marketing & Communication Source: Blockfyre Research | Gath3r Whitepaper
14. Raghav Reggie Jerath • Founder & CEO • Bachelor of Business Administration, University of Huddersfield • Master of Science in Strategic Projectmanagement, Heriot-Watt University • Strong background in Media & Advertising • Already founded a logistics company called Jaadu Inc • Business interests in Strategy and Strategic Management, Research and Analytics, EPC and Supply Chain, Vendor Management, Business Development x Team Farrukh Shaikh • Co-Founder & CFO • Studied at the Universtiy of Alberta and the Insitute of Chartered Accountants in England & Wales • Skilled in International Financial Reporting Standards (IFRS), Assurance, External Audits and Accounting • Several years of working experience at KPMG, before he became a full-time crypto-trader and co-founded Gath3r Ashesh Koul • CTO • Bachelor’s degree, University of Kashmir • Almost 20 years of strong technological working experience • Director of a Software & IT consulting firm • Remarkably, Ashesh worked 12 years in Senior positions for NCR corporate, one of the Top 10 renowned tech companies in the world Comments • In total the website shows 10 team members in total, of which 6 have a strong technological background • Additionally, Gath3r has an advisory board of 7 advisors • Amongst the advisors, Narendra Nag is worth to be highlighted, as he has been Director and Vice President of Publicis / MSL group, a French PR company with almost 21B € annual revenue • As none of the team members shows any extraordinary career path and they just started working together, it remains to be seen how capable they are to deliver on their vision Source: Blockfyre Research | Gath3r Whitepaper
15. 10 Projects provided grants Gath3r Foundation Formation • FIAT payout • Paywall Program Enabled • Loyalty Programs Roadmap Q1 18 - Q1 19 Q2 19 • Seed round • POC • MVP • Web Miner Platform Launch • Beta Testing • Gath3r Blockchain Testnet • Masternodes • Web Staking Wallet x Q4 19 Q3 19 • Token Swap • Mainnet Launch 2020 Over 25 child chains & 100k + publishers Source: Blockfyre Research | Gath3r Whitepaper
16. Conclusion Unique selling point Upside potential Gath3r provides an interesting concept to revolutionize the web mining market. Not just the fact that website publishers could create a much more convenient user experience on their sites, but also the combinational approach of merged mining and staking could be an interesting and lucrative alternative for online advertisements as a revenue stream. x ! Given the small initial market cap (based on the initial circulating supply) and the fact that they are tackling an emerging and still ever-growing market which is valued in the hundreds of billions, a significant upside potential is definitely existing for Gath3r, even if they will just get a tiny share of the overall market size. Combined with an IEO on a Top Tier exchange the upside potential is definitely there. Short / Long Term Investment Gath3r has potential both, in the short and in the long-term. Due to the thorough marketing efforts of the team, Gath3r was recently covered by many well known crypto media, such as but not limited to Blockchain Brad, Michael Nye and DailyChain. Once GTH launched on a solid exchange, we believe the big exposure could create some significant awareness and price appreciation. But also in the long-term we believe GTH could constantly grow, if they deliver on their promises. Risks & Concerns Just recently, Coinhive, the most dominant representative of this market paying rewards in XMR, has shut down its services. It remains unclear if this has been due to Monero’s fork, the heavy bear market per se, or the dubiousness of web mining in general. Besides, in-browser mining solutions have often been victims to cryptojacking malware, hence often seen sceptical by the public. However, if Gath3r can tackle these concerns and prove otherwise, we believe it’s an excellent opportunity for Gath3r to take over this market with the biggest competitor exiting the game.
17. Gath3r Rating Product 13/15 Community 10/12 Traction 5/9 Trading 11/12 Network 7/15 Whitepaper Competition Speed Value Roadmap Website Communication Advisors Influencers Development Status Number of txs Partnerships Profit (1 month) Profit (1 year) Exchanges Token distribution Google Trends News Mentions Twitter Follower Telegram Follower Reddit Follower Total score: 46 / 63 = good investment opportunity Please note that the Trading section is based on our personal opinion instead of actual data as GTH is not tradable yet x
18. Blockfyre Jonathan Habicht Simon Dedic Disclaimer We have been compensated in GTH. We have been in contact with the team If you like this review, dont forget to share it! Follow Blockfyre x