P2PS: ICO Review

What is P2PS?

P2PS is a blockchain project that plans to encrypt user’s cloud storage data. The current problem the cloud service industry faces is security. For instance, users can store their data on a Google Drive or a Dropbox, but all of their data will remain lost if the system is hacked.

p2ps icoAdditionally, these centralized systems charge a high premium for users to fully utilize their services. While this is a great option for some, users that are on a low budget are left out. These high fees can lead to the users having a opt for other services.

With P2PS, they plan on solving these problems by creating the first peer-to-peer digital communications platform that helps users exchange and store data such as: personal data, medical history records, government sensitive data, and banking data. This is nonexistent in today’s servers making it hard for users to keep their important information secure.

Aspects

P2PS Token: The P2PS token is designed to be used by members participating in the P2PS platform. It assists in the transactions of the server and is rewarded for users who successfully share their data. Since it’s an ERC 20 token, it can be integrated into exchanges and easily transferable between platforms and users who hold ETC 20 wallets.

Reasonable Prices: Since it’s on Ethereum’s blockchain, there are no intermediaries or third party users attempting help the platform move forward. Because of this, users will have to pay a few PS2Ps tokens in order to operate on the network.

Rewards System: With the goal of integrating multiple applications in a decentralized ecosystem, P2PS uses economic incentives to reward their users. Everytime that your data is stored or shared, the ICO rewards you for doing so.

Token Metrics

  • Website: View
  • Whitepaper: Read
  • Fundraising Goal: $750,000 (Soft cap) – $50,000,000 (Hard cap)
  • Token Sale Date: April 2, 2018 – August 31, 2018
  • Acceptable Currencies: BTC, ETH, LTC, BCH

Bounty0x profile: @jeremycole

Positives
  • Information Storage: P2PS has a great way of keeping your information secure. For example, once a user uploads their data onto their platform, that information is stored, divided and scattered.
  • Decentralized Storage: There is no limit as to how much data you plan to upload as P2PS has no limitations in that regard. For example, you’ll be able to save up 2TB worth of data without having to way about paying extra for the extended service.
  • Promising Roadmap: All of the information about this ICO’s roadmap is clear, concise and is realistic. If they follow all of their goals presented on their roadmap, then their project will reach its success and potentially surpass their competition.

Negatives
  • No MVP: While this is a great project, P2PS needs to have an MVP so that users can actually use their service. This might turn some investors away until a fully developed app is completed.
  • Token Pricing: For some, paying 0.06 BTC for 300 P2PS coins can be expensive for some users. If the project lowers some of their token prices, they might increase the chance of obtaining their soft cap and hard cap goals.

P2PS
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Summary

When it comes to decentralized cloud services, P2PS is the first project that’s heading towards that direction. Once it’s complete, it will make sending data more secure and easier for users to keep their assets safe. Thus, we hope to see this project complete its roadmap in the near future.

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Adam Cole has been a crypto enthusiast for years. First getting involved in Bitcoin mining in late 2010, he has now diversified his portfolio and dug deeper into the alternative coins of the space. As new and exciting ideas arise in cryptocurrency, Jeremy is always looking for the next big thing and a coin which not only appreciates in value but also has a steady increase in use and demand. Jeremy has seen the rise of coins such as Ethereum and by studying the technical and fundamental side of ETH, he has learnt how to find similar coins that are likely to have a bright future.

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