Digital Asset Research Publishes In-Depth Analysis of Ontology (ONT)

FOR IMMEDIATE RELEASE (July 2, 2018)

Matthew Gertler

Digital Asset Research, Inc.

info@digitalassetresearch.com

 

Digital Asset Research Publishes In-Depth Analysis of Ontology (ONT)

New York, New York: Digital Asset Research, Inc. (“DAR”, “the Company”, or “we”), the world’s leading provider of cryptocurrency research and data for institutional investors, has published a 30-page analysis of the Ontology network and ONT digital asset. Ontology is a project that is building a platform to make it easy to launch hosted blockchains and decentralized applications. It had its mainnet launch on June 30. The report includes an overview of Ontology’s technology stack, an examination of the project’s history, and economic considerations.

Most of Ontology’s technology is forked directly from NEO, including NEO’s consensus algorithm, compiler, and virtual machine. It also largely repurposes NEO’s Go-lang client and adds a set of core protocols focused around identity management and data storage to provide a foundational layer to build trusted applications. Gregory Cipolaro, CEO at DAR, said: “Other than OntID, which is Ontology’s identity management system, and the addition of a verifiable random function to NEO’s consensus algorithm, we have not identified significant technical innovations made by the Ontology team.”

The current ownership of ONT is the highest concentrated ownership of any token that DAR has examined. Moreover, DAR discovered that the project has released 19.1M more tokens to institutional partners than what the project has previously reported. Still, only 120.1M ONT has been distributed to the community, far less than the 538M tokens that have been unlocked.

There is debate within the cryptocurrency community regarding the measurement and definition of the circulating supply of ONT tokens. Our research shows that how this supply is defined and measured is inconsistent across public sources and ranges from 151M ONT to 538M ONT. Cipolaro said: “Publicly sources give the crypto community, including our firm, a lot of utility. Unfortunately, the quality of their data often falls short of what is required by institutional investors, which is why we created Digital Asset Research.”

 

If you would like to find out more about Digital Asset Research’s services, please submit a request for information here.

If you would like to sign up for the Digital Asset Research newsletter, please sign up here.

 

About Digital Asset Research, Inc.

Digital Asset Research is a collection of technologists, developers, traditional investment analysts, legal scholars, and economists. The Company was formed in response to meet the growing need for institutional quality research in the nascent digital token space. It is the Company’s objective to provide unbiased research, analysis, and insights for hedge funds, family offices, venture capitalists, and traditional asset managers. For more information, please visit https://www.digitalassetresearch.com/

Digital Asset Research Publishes In-Depth Analysis of VeChain (VEN)

FOR IMMEDIATE RELEASE (June 26, 2018)

Matthew Gertler

Digital Asset Research, Inc.

info@digitalassetresearch.com

 

Digital Asset Research Publishes In-Depth Analysis of VeChain (VEN)

New York, New York: Digital Asset Research, Inc. (“DAR” or “the Company”), the world’s leading provider of cryptocurrency research and data for institutional investors, has published a 26-page analysis of the VeChain network and VEN digital asset. VeChain is a project that attempts to use the immutability of blockchains to store supply chain data and is set to launch its mainnet on June 30. The report includes an overview of VeChain’s software and system architecture, an examination of the project’s history, and an analysis of risks facing the project.

The VeChain client, “Thor Core,” is largely based on Geth, the Go implementation of the Ethereum protocol, but with changes to support a consensus algorithm called “Proof-of-Authority.” Common criticisms of Proof-of-Authority structures are that there is no collateral forfeiture other than loss of reputation or ability to participate in the network, and such structures often lead to high levels of centralization. Gregory Cipolaro, CEO at DAR, said: “Whether decentralization is required for what the project is trying to accomplish comes down to one’s philosophical beliefs about decentralization and the value of censorship-resistance.”

Other key risks identified in the report include exchange risk, since about 84% of VEN trading volume occurs on two exchanges and the technical issue that has been referred to as “blockchain bloating,” a potentially unmanageable increase in the size of the blockchain. Lucas Nuzzi, Director of Technology at DAR, said, “An archival Ethereum Geth node requires nearly 1TB of space. Because storage requirements for supply chain management systems are arguably more onerous than the average Ethereum smart contract, it would not be unreasonable to expect that VeChain might also be susceptible to blockchain bloating.”

 

DAR has published some of its findings on Medium here.

If you would like to find out more about Digital Asset Research’s services, please submit a request for information here.

If you would like to sign up for the Digital Asset Research newsletter, please sign up here.

 

About Digital Asset Research, Inc.

Digital Asset Research is a collection of technologists, developers, traditional investment analysts, legal scholars, and economists. The Company was formed in response to meet the growing need for institutional quality research in the nascent digital token space. It is the Company’s objective to provide unbiased research, analysis, and insights for hedge funds, family offices, venture capitalists, and traditional asset managers. For more information, please visit https://www.digitalassetresearch.com/

Digital Asset Research Publishes In-Depth Analysis of TRON (TRX)

FOR IMMEDIATE RELEASE (June 18, 2018)

Matthew Gertler

Digital Asset Research, Inc.

818-427-1206

info@digitalassetresearch.com

 

Digital Asset Research Publishes In-Depth Analysis of TRON (TRX)

 New York, New York: Digital Asset Research, Inc. (“DAR” or “the Company”), the world’s leading provider of cryptocurrency research and data for institutional investors, has published a 23-page analysis of the TRON network and TRX digital asset. The report includes an overview of TRON’s technology stack, an examination of the project’s history, and a breakdown of TRX ownership.

During preparation of the report, DAR discovered several instances of code that was copied verbatim or slightly modified in non-material ways from Ethereum without appropriate reference to Ethereum’s GNU Lesser General Public License v3.0. Gregory Cipolaro, CEO of DAR, said: “While copying code without attribution opens the project up to some legal risks, they pale in comparison to the technical risks that the project faces.”

These technical risks include that: (1) TRON’s only client, Java-Tron, is derived from EthereumJ, which is one of the first Ethereum libraries and known to be unreliable; (2) the TRON Virtual Machine is a direct copy of the Ethereum Virtual Machine, but with changes that may increase the network’s attack surface; and (3) TRON’s consensus algorithm is based on Delegated Proof-of-Stake and may suffer from the same issues currently faced by EOS.

Lucas Nuzzi, Director of Technology at DAR, said, “By combining technologies originally developed for different system architectures, the TRON network will likely be exposed to unique technical risks in the months following its network launch. It is puzzling that TRON is pursuing a single client approach, especially one that is almost entirely based on an unreliable and arguably outdated implementation of the Ethereum protocol.”

DAR has published some of its findings on Medium here.

If you would like to find out more about Digital Asset Research’s services, please submit a request for information here.

If you would like to sign up for the Digital Asset Research newsletter, please sign up here.

 

About Digital Asset Research, Inc.

Digital Asset Research is a collection of technologists, developers, traditional investment analysts, legal scholars, and economists. The Company was formed in response to meet the growing need for institutional quality research in the nascent digital token space. It is the Company’s objective to provide unbiased research, analysis, and insights for hedge funds, family offices, venture capitalists, and traditional asset managers. For more information, please visit https://www.digitalassetresearch.com/

Digital Asset Research Publishes 64-Page In-Depth Analysis of Ripple (XRP)

FOR IMMEDIATE RELEASE (June 6, 2018)

Matthew Gertler

Digital Asset Research, Inc.

info@digitalassetresearch.com

 

Digital Asset Research Publishes 64-Page In-Depth Analysis of Ripple (XRP)

Digital Asset Research, Inc. (“DAR” or “the Company”), the world’s leading provider of cryptocurrency research and data for institutional investors, has published a 64-page analysis of the Ripple protocol and the XRP digital asset. The report includes a technical overview of Ripple’s software products, an economic and valuation analysis of XRP, an examination of the project’s competition and history, and a breakdown of Ripple Labs’ ongoing lawsuits. Ripple is one of the oldest cryptocurrency projects and largest in terms of network value, trailing only Bitcoin and Ethereum. 

Gregory Cipolaro, CEO of DAR, said: “We think it is helpful to think of Ripple Labs as an enterprise software company that has developed interfaces and APIs for financial institutions that in some, but not all cases, use XRP.” Its current product offerings include xCurrent, a financial institution messaging system like SWIFT, xRapid, a real-time payment platform that uses the XRP digital asset, and xVia, an upcoming payments interface that targets emerging markets.

During preparation of the report, DAR discovered several instances of incorrect information from public sources. Cipolaro said: “Publicly available data sources and aggregation services give the crypto community, including our firm, a lot of utility. Unfortunately, the quality of their data often falls short of what is required by institutional investors, which is why we created Digital Asset Research.”

If you would like to find out more about Digital Asset Research’s services, please submit a request for information here.

About Digital Asset Research, Inc.

Digital Asset Research is a collection of technologists, developers, traditional investment analysts, legal scholars, and economists. The Company was formed in response to meet the growing need for institutional quality research in the nascent digital token space. It is the Company’s objective to provide unbiased research, analysis, and insights for hedge funds, family offices, venture capitalists, and traditional asset managers. For more information, please visit https://www.digitalassetresearch.com/

Digital Asset Research Launches Blockchain Data and Market Intelligence Products, Develops New Estimated Transaction Volume Methodology

FOR IMMEDIATE RELEASE (April 25, 2018)

Matthew Gertler

Digital Asset Research, Inc.

info@digitalassetresearch.com

 

Digital Asset Research Launches Blockchain Data and Market Intelligence Products, Develops New Estimated Transaction Volume Methodology

New York, New York: Digital Asset Research, Inc. (“DAR” or “the Company”), the world’s leading provider of cryptocurrency research and data for institutional investors, has launched cryptocurrency data feeds for its institutional and service provider clients. These data feeds include blockchain data and market intelligence information.

The blockchain data includes information like “estimated transaction value” or “ETV”, which is often used as a foundation of economic and valuation measurements.

Gregory Cipolaro, CEO of DAR, said: “Blockchain.info has been a high-quality source of free information on the Bitcoin network for years, including their calculation of Bitcoin ETV.  We have identified shortcomings of the company’s methodology, and developed our own methodology that improves in areas of new address types and the writing of data into the Bitcoin blockchain, which we think more accurately reflects actual Bitcoin ETV. Our methodology can be applied to all other UTXO blockchains, like Litecoin, Dash, and Bitcoin Cash, and we believe this can be a source of alpha.”

The market intelligence information includes information like the number of tokens being sent to and from exchanges and social networking statistic comparisons of projects.

Cipolaro said: “Much of the market intelligence we gather comes from conversations with our clients who ask for information that is not available in the market. We have a strong track record of obtaining complicated and other information that is thought to be unavailable.”

About Digital Asset Research, Inc.

Digital Asset Research is a collection of technologists, developers, traditional investment analysts, legal scholars, and economists. The Company was formed in response to meet the growing need for institutional quality research in the nascent digital token space. It is the Company’s objective to provide unbiased research, analysis, and insights for hedge funds, family offices, venture capitalists, and traditional asset managers. For more information, please visit https://www.digitalassetresearch.com/

 

DAR Publishes In-Depth Report On Stellar

Digital Asset Research has published a 51 page, in-depth analysis on Stellar. Stellar is a high-profile project from Jed McCaleb, founder of Ripple & Mt. Gox. It is a payments rail designed for remittances, micropayments, and low cost financial services. The protocol employs a novel consensus mechanism called the Stellar Consensus Protocol (SCP), which provides low latency for transactions regardless of the amount being transacted. SCP also allows trust ratings to be assigned to the nodes that validate transactions, thereby making validation power proportionate to a quantitative metric representing trust. Some of our takeaways: 

  • Stellar has programmable payment features and a platform to trade real world or cryptocurrency assets, which depends on “anchors”, who issue credit on the network.
  • Users can trade bitcoin, fiat, or any other asset through this credit system. Our data shows that 585 unique credits have traded at least once on the network. 
  • Anchors improve the flexibility and ability of the Stellar network to support almost any asset. However, they pose counterparty, leverage, and centralization risks that are not present in most other networks.
  • Stellar features an extensive and well documented RESTful API called Horizon, which can be used by developers for interactions between external applications and the Stellar Core client. All our interactions with Horizon were positive.
  • XLM supports numerous programming languages, which is important for community development.

To find out how to get access to our report, please fill out a request for information form here

Cats, Mice and ASICs

In March 2018, mining manufacturer Bitmain announced that it had developed an ASIC for mining Monero and Bytecoin. Both tokens are derived from the CryptoNote protocol, which was designed to be an ASIC-resistant consensus algorithm. The announcement came only a month after Bitmain launched an ASIC for Siacoin, a move regarded by some as a hostile takeover. Bitmain is also behind Antpool, one of the largest miners in the world. Considering this, critics argue that Bitmain’s rapid development of ASICs, which is reflective of its enormous R&D budget, poses unique centralization risks to the future supply of certain cryptocurrencies. Others say that mining specialization is inevitable and a natural step in a cryptocurrency’s lifecycle. What seems to be different today is the speed at which ASICs are being developed and deployed. Last week, it was rumored that Ethereum was Bitmain’s next target, which caused the price of Ether to crash. On Monday, Bitmain confirmed the release of Antminer E3, the first Ethash ASIC.

To find out how to get access to our report, please fill out a request for information form here

DAR CEO Greg Cipolaro Speaks at Blockchain for Impact

On March 12, 2018, Digital Asset Research CEO Greg Cipolaro educated attendees of the Blockchain for Impact: Family Office and Institutional Investor Bootcamp on how the blockchain works and how it has started to transform the world we live in. Other speakers touched on the role of the United Nations in facilitating the propagation of blockchain across the world, streamlining the trucking and logistics industries, reducing government corruption by tracking funds on a blockchain, and using crypto as a payment system in the developing world.

TALES FROM THE DARKSIDE: 1Q18 SECURITY UPDATE

One of the explicit tradeoffs of decentralization is that once a private key has been compromised, there is no mechanism for individual users to revert transactions and recover stolen funds. The current state of cryptocurrencies is that they defy Silicon Valley’s user-centric philosophy, where thoughtfully designed interfaces thrive despite backend constraints. Instead, the brilliant backend infrastructure put forth by Satoshi Nakamoto is still met with under-tested, ad hoc, front-end interfaces, which at times enable hackers to steal funds of inexperienced users.

Given this new paradigm in finance combined with the irrevocability and immutability of the technology, we thought it would be of value to explore offensive penetration mechanisms employed by black hat hackers in their attempt to steal funds. We are not security experts, but we have experience with cryptocurrencies and we monitor reported incidences within the community as well as darknet forums which are the source of many of these exploits. The purpose of this report is to share some of our findings, as well as challenge some of the assumptions prevalent in the cryptocurrency community when it comes to security best practices. The following is an overview of exploits under current development and recommendations on best practices to ensure the security of your assets and private keys.

To find out how to get access to our report, please fill out a request for information form here