Republic Protocol is a decentralized dark pool for atomic, cross-chain trading.
Learn more: https://crushcrypto.com/republic-protocol-ico-review/
Project website: https://republicprotocol.com/
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Note: This is not a paid review. We do not offer promotional or advertising services. Our content is based on our own research, analysis and personal opinion.
What does the company/project do?
Republic Protocol is a decentralized dark pool for atomic, cross-chain trading. This means that individuals, or, more likely, institutional investors can trade in any size of volume without having those details divulged.
The primary function of this network is to provide trustless and anonymous cross-chain trades.
What are the tokens used for and how can token holders make money?
The REN token will be used as an incentive token for the running of nodes by miners. Traders need to stake and pay REN tokens in order to use the protocol. There isn’t a mentioned practical minimum fee, but similar to the Ethereum network, the higher a fee you offer, the higher priority your trade with have for those running nodes.
REN tokens will also be used as a bond for those running nodes and traders alike to punish any bad actors in the space. This will work in two ways:
First, traders will have to create a bonded identity on the network (which will be entirely refunded when they leave the network), and if they were to act maliciously, for example, create a false account in attempt to acquire order information, the bond would be lost.
Secondly, to run a node, there will also be a required bond, and should a given node try to falsify any information about a trade, it will be unable to provide evidence of truthful computation, and would lose their bond.
This token should appreciate in value as there are more users on the network, which will thus drive up demand for both traders who wish to utilize the network, and the nodes that will do the computational work. As there are more traders, running a node becomes more profitable, and the more nodes there are, the more secure and appealing the network is.
- Following the rapid growth in cryptocurrency, there is now significantly more funding coming from institutional investors, who perform large transactions and very much value the service of a dark pool. Republic Protocol would be able to serve the demand from this trend.
- Currently, there are firms offering dark pool services, but none of them are established household names. A lot of trust is required to use their services because significant amount of money is involved. With Republic Protocol, there is no need for trusted intermediary.
- Cross-chain atomic swaps is a big theme for blockchain this year. It is one of the ways to solve the blockchain scaling issue. If successful, the potential for this project is substantial.
- The advisors of the project can help open doors in cooperating with other blockchain projects. We believe Kyber’s guaranteed liquidity asset swap platform would complement very well with Republic Protocol.
- The project is at a very early stage, with GitHub activity starting only from December 2017. An early internal prototype with the Testnet for Bitcoin/Ethereum-based assets is scheduled to come out in 2018 Q2. Therefore, Republic Protocol is essentially a white paper project.
- Aside from the CTO, the developers of the team are all fairly inexperienced with less than a year of working experience. We are unsure whether the team can solve the challenging issues encountered by the project, including automatic swap, a trustless trading system with hidden order book, and computations that are verified through zero-knowledge proofs.
The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don't invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.