Genaro Official Designated Platform

Project Overview

Crowd-founding Starting Time: 9 pm, Nov 17, 2017

Crowd-founding Ending Time: 9 pm, Nov 30, 2017

Project Description:

Please read the purchasing agreement of GNX token before buying.

(see https://genaro.network/en/documentation/agreement)

Genaro aims to create a decentralized storage network and a complete chain of the one-stop blockchain technology, creating a blockchain 3.0 storage ecosystem that builds an underlying platform for DAPP developers. In the era of blockchain 1.0, Bitcoin created a decentralized storage ledger. In the era of blockchain 2.0, Ethereum constructed the decentralized execution smart contracts. And in blockchain 3.0, the decentralized storage of big data will be created. With blockchain 3.0, user data can be divided, encrypted and randomly distributed to different nodes for multiple backups, and it is only using private key can the user data be unlocked, which improves the storage security and avoids theft and loss. What is more, multi-node storage enables data to be recalled at any time. And nearby storage guarantees the transmission speed, making it more efficient. Also, competitive storage market reduces storage costs. Genaro is safer, more efficient and more economical compared to traditional centralized cloud storage. Blockchain can truly achieve a wide range of application only when the blockchain is capable of handling the vast amount of data in the real world.

I. Market Analysis

Overview:

In recent years, along with the explosive growth of Internet technology and global information, cloud computing technology has been emerging. In 2016, the scale of global public cloud service market was about $ 210 billion, achieving a 20 percent increase compared to 175 billion in 2015. The market size in 2017 is expected to reach $ 250 billion, of which IaaS (Infrastructure as a Service) is the fastest growing one. In 2016, the total revenue of Amazon Web Services (AWS) has reached $12.2 billion, and the revenue from Alibaba Cloud’s IaaS business has reached $588 million. With the advent of the era of big data, cloud storage, as a major component of IaaS, is in increasing demand, and the industry is in a period of rapid growth.

Market Pain Points:

1. Safety

Although cloud-based storage has become a major trend, there are still many companies and individuals who have misgivings about it, and security has always been their primary concern. For centralized storage solutions, security risks not only come from external attack, but also from the service providers, for they have free access to your data and information. Some service providers claim that they provide encryption services, but we should know that the key is still held by them. Although encrypting data by yourself and then uploading it to the cloud can effectively enhance the security of data, there are certain technical barriers, and it is too time-consuming and laborious. And even if you are not afraid of the hard manual encryption, there are still possibilities that the storage service were shut down due to administrative orders.

Decentralized storage can effectively solve the security problems. Since all data is divided, encrypted and randomly assigned to different nodes for multiple backups, and without your private key, no one can read or rewrite your data, which basically eliminates the possibility of confidential data being hacked. There is no central server, and the private key is master by yourself, so there is no possibility that the service providers would steal the data. With the combination of distributed storage and multiple backups, not even the government agencies can shut down the server to destroy data.

2. Efficiency

The characteristic of cloud storage is that it can quickly retrieve data anytime, anywhere, which largely improves efficiency. According to Genaro’s solution, multi-node and multi-backup storage can ensure that data can be retrieved and downloaded at any time, and also, Genaro will automatically search for the closest node to store data, which guarantees the transmission efficiency. However, it should be noted that the White Paper does not address how to determine the number of backups so as to ensure the permanent availability of data, nor does it provide any actual evidence that the efficiency of uploading and downloading would go beyond traditional centralized storage.

3. Economy

Genaro has pioneered a decentralized storage market that allows perfect competition, in which everyone can earn rewards by sharing unused storage space, which far surpasses the total capacity of cloud services companies like Google Drive, Dropbox and Alibaba Cloud. Therefore, a lower storage price will be possible.

Most of the existing decentralized storage projects, for instance, Sia, Storj, IPFS, etc., do not have their own public chain, which means they can only be used by the users to store space, but can not be developed directly on smart contracts. However, Genaro offers a one-stop solution which helps the developer to save time, making the storage of the public chain more efficient.

For a long time, the focus of the development of decentralized storage will still be exploring the ways to improve performance so as to seize the centralized storage market. In addition, Genaro is determined to create an underlying platform for DAPP developers to solve the problem that the existing blockchain is unable to process big data, and then to create a blockchain 3.0 storage ecosystem. However, with the current hardware and software capabilities, long-time technology research and development as well as accumulation are needed to make big data on chain.

summary:

Genaro aims to create a decentralized storage network based on blockchain technology. Compared to the centralized storage, using blockchain technology can effectively solve the issue of data storage security. And compared to the similar existing decentralized storage projects (Sia, Storj and IPFS, etc.), Genaro provides a one-stop solution, which can be used both for storage as well as for contract development, leading to greater efficiency, preferred proximity nodes, and higher read efficiency.

Scoring Parameters for the Market:

Overall Score: 100 points Effective Score: 89 points

II. Team Analysis

Larry Liu CEO
Waylon Wu CTO
Andrea Liu COO
Jason Inch Strategic Director

Overview:

Larry Liu: CEO, Co-founder of Sendbloom, a Silicon Valley technology company that independently developed blockchain-based cross-border wallet in 2015; former HP rsecurity engineer.

Waylon Wu: CTO, co-founded Rum Tech, a trading technology company at Silicon Valley in 2015, and worked for the Ethereum DAPP development in the same year .

Andrea Liu: COO, Co-founder of Lehms, a social enterprise, and ICT Learning, an business consulting company.

Jason Inch: Strategic Director, having been an executive and entrepreneur in the tech industry for 20 years, who has his own opinions on the Chinese economy and has published books on China’s economy.

summary:

The technical ability of the team is rather comprehensive. Most of the technical team members are from Google, who have certain development experience in blockchain, and equipped with big data and cloud storage technology background.

In addition, numerous social promotion staff joined in the operation team this time, who have rich experience in the blockchain industry and the digital industry. What’s more, investors, including well-known distributed capital institutions, also contribute to increase the popularity of the project.

Scoring Parameters for the Team:

Overall score: 100 points Effective score: 81 points

III. Technology Analysis

The Genaro Network consists of three projects: Genaro, Genaro Storage, Genaro Incubator and Accelerator.

To support the development of Genaro ecosystem, Genaro will establish incubators around the world to help organizations and individuals build Genaro-based applications. Genaro’s goal is to move cloud services to the blockchain and transform “cloud storage” into “chain storage.”

Genaro Decentralized Storage Network :

Genaro is a storage space based on blockchain technology, aiming to build a reliable, decentralized storage network based on blockchain technology that allows Genaro to be used as an efficient and cost-effective private, persistent cloud storage.

Compared to the central server, the Genaro network is a more private, efficient and economical permanent storage space. Here, data is divided, encrypted, and randomly assigned to different nodes for multiple backups, and without the user’s private key, no one can read or rewrite the data.

PoR Technology:

The use of PoR technology is mentioned in the official white paper, it can detect if a file is damaged or lost in the premise that the file has not been downloaded by the user. In PoR, the verifier represents the network node that requested the file, and the prover represents the network node that provided the file.

Using the PoR protocol to encrypt files and randomly embed a set of random value check blocks called “Guard” The verifier challenges the prover by specifying the location of the “Guard” and requiring the prover to return the associated “Guard” value. If the prover modifies or removes most of the files, it is likely to suppress some of the “Guard”. Therefore, it is unlikely that the verifier will be responded properly.

Genaro Public Chain:

The Genaro network is the first public chain that that supports decentralized storage, who provides contractual deployment and one-stop solution for storage. In the Genaro network, every block is created by storage activity, and the miners are called Receipt Maker, who are selected by the node to generate receipts for storage activities. And Receipt Prover provides the web with the power to prove that the the validity of storage in order to receive rewards.

Summary:

Genaro’s goal is to create a decentralized storage ecosystem. The system includes Genaro public chain and a decentralized storage network, and it also supports the release of contract and large amounts of data storage. As a network focusing on storage, the status of the contract seems a bit insignificant in Genaro. Moreover, the current performance issue of Ethereum also exists in Genaro public chain, but there is no detailed description in the White Paper.

Scoring Parameters for the Techonogy:

Overall Score: 100 points Effective Score: 68 points

IV. Funds Supervision Analysis

Overview:

The funds allocation plan has been disclosed in the White Paper, and the foundation has been registered in Singapore for the overall management framework.

Scoring Parameters for Funds Supervision:

Total score: 100 points Effective score: 45 points

V. Profit Model Analysis

All proceed comes from the cost that storage users paid for the space, Genaro token acts as the medium of exchange in this process. As the size of the transaction continues to increase, the value of token may increase. Therefore, the profitability of investors are closely related to the operation and promotion of the project .

Scoring Parameters for Profit Model:

Total Score: 100 points Effective Score: 70 points

Total Score: 100 points

Effective Score: 74.0

Statement

1. The score is rated referring to the rating rules, and acts as a reference before making investment decisions.

2. This rating is based on the information provided or officially announced by the rating object. The rating object is responsible for the legitimacy, authenticity, completeness and accuracy of the relevant information.

3. The analysis and conclusion of this report can only be used for relevant reference and decision-making, and this report does not act as any investment advice such as buying or selling. Therefore, ICORoot does not take any consequences of the investors’ loss caused by operating in light of this report.

4. The copyright of this report belongs to the ICORoot. Any organizations or individuals may not copy, reprint, sell or publish without authorization. If citing or publishing, the source shall be clearly marked and shall not be distorted or altered.

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