ICO Analysis: Dispatch Labs ICO Review

Dispatch Labs ICO Review: A comprehensive review and analysis on Dispatch Labs ICO, which aims to create enterprise-grade blockchain solutions.

This represents the writer’s personal opinions and does not – in any way- constitute a recommendation of an investment or financial advice. Please assume caution when investing in cryptocurrencies and do so at your own risk, as it is extremely volatile and you can lose your money.

Overview

Dispatch Labs is creating a decentralized blockchain that supports smart contract functionality and utilizes an off-chain distributed storage network. This is similar to a traditional ‘Software-as-a-Service’ (SaaS) architecture; but instead of being managed and controlled by a central entity, smart contracts will be programmed to govern data access.

Dispatch Labs is built on 3 core features:

Scalability: Dispatch allows firms to set up data-intensive business logic on a public ledger without sacrificing speed or security, which is an inherent trade-off issue that blockchains face today. The Dispatch ledger has the capacity to facilitate 10,000 Transacations Per Second (TPS) under normal conditions.

Massive Data Capabilities: Allows smart contracts to access big data off-chain (known as ‘artifacts’)

Backward Compatibility: Dispatch Lab’s protocol is backwards compatible with Ethereum smart contracts since it is a modification of the Ethereum Virtual Machine (EVM), and is additionally built to support access to off-chain artifacts

(Read more: Guide To Cryptocurrency Valuation: A Look into On-Chain Data)

Interview with Founders

We had the opportunity to engage in a high-level interview with Dispatch Lab’s CEO (Matt) and CTO (Zane). We asked several important questions about Dispatch Labs according to several metrics. Have a look at the interview below:

Application

There are 2 main components of Dispacth Lab’s solution: 1) The Dispatch Ledger &3px) 100vw, 1713px”/>

As stated by the founders in the interview, Dispatch has garnered huge interests from private and institutional investors. Unlike many other private projects that does not open up public allocation if private funding is adequate, Dispatch will allocate a certain portion towards the public sale. This is a positive approach since Dispatch recognizes the importance of the wider community in ensuring its success.

Token Utility

The Dispatch ledger will have its own native tokens called DAN, which will be the main currency in the Dispatch network. Dispatch’s native token will have similar functionality and utility of Ether (ETH), which is to serve as the medium for virtual machine computation. However, instead of gas being consumed in Ethereum’s case, the Dispatch scenario will feature bandwidth being utilized. An added utility of the DAN is that stakeholders that seek to utilize or participate in the off-chain storage network facility – called the Dispatch Artifact Network – will transact in DAN tokens.

Therefore, the value of DAN tokens will increase proportionally with the usage and traction of the Dispatch network. Given the partnerships that have been established and the infrastructural support afforded to developers, the utility of DAN looks solid in the long-term.

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Strengths

First Mover’s Advantage: Dispatch is the first bloc)cryptocurkchain protocol to leverage on-chain smart contracts to manage distributed storage of application data off-chain, and its novel architecture enables for scalability for enterprise usage. This is a huge opportunity for large-scale adoption in the cryptocurrency space.
Credible Partnership Network: Even though the mainnet has yet to be launched, Dispatch already has 9 businesses developing on the Dispatch blockchain and close to 30 companies signaling commitment. For a relatively new project, Dispatch is proving to offer a viable, real-world solution for businesses wanting to leverage on blockchain technology. The fact that Dispatch has already secured business partnerships is testament to their appeal as a strong technological solution for businesses.
Novel Consensus Mechanism: Dispatch’s blockchain utilizes Delegated Asynchronous Proof-of-Stake (DAPoS), a new consensus mechanism that allows for much higher transaction throughput and incur significantly reduced fee as compared to other blockchains. The layer of elected learners is a novel way to dissipate the degree of ‘centralization’ of elected delegates (which has often been a key issue in a POS/DPOS structure.
Strong Team: Dispatch boasts an experienced and technical team that has expertise over a wide-range of industries.
Infrastructural Support: Dispatch plans to support education, community and financial support around the new ecosystem by creating online and offline curriculum, certifications for businesses and developers, open source documentation and tools, as well as a direct communication line between the core team and interested parties. This will undoubtedly foster greater participation and easier onboarding for businesses or projects seeking to develop on Dispatch’s solution

Weaknesses

Scalability Tradeoff: Using an off-chain solution compromises the fully decentralized nature of blockchains, since data not stored on the blockchain is less resistant to censorship. However, Dispatch focuses on the feasibility aspect of a blockchain solution since it is geared towards business use-cases. A positive note is that the addition of elected learners under the DAPoS consensus mechanism ensures that delegates will face greater accountability.
Lacking Token Details: The token metrics and economics aren’t touched upon in any of Dispatch’s official documents and channels, which make it hard to value its tokens.

Summary

Dispatch Labs is leading the way in building enterprise-level blockchain solutions that could bring massive adoption from the institutional/business side, which is often overlooked in the cryptocurrency industry. Focusing on fine-tuning their technology and creating partnerships with real businesses, Dispatch already has one foot in this lucrative market. By enabling business applications to conveniently migrate to distributed ledgers without having to worry about scalability issues, businesses can look forward to a plethora of benefits afforded by blockchain technology to streamline and improve their traditional processes

Verdict: Excellent Project

(Read also: Evolution of Cryptocurrency: Replacing Modern Cash)

Beneficial Resources To Get You Started

If you’re starting your journey into the complex world of cryptocurrencies, here’s a list of useful resources and guides that will get you on your way:

Trading & Exchange

Wallets

Read also: Guide on Privacy Coins: Comparison of Anonymous Cryptocurrencies and Guide To Cryptocurrency Trading Basics: Do Charts & Technical Analysis Really Work?

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I’m Aziz, a seasoned cryptocurrency trader who’s really passionate about 2 things; #1) the awesome-revolutionary blockchain technology underlying crypto and #2) helping make bitcoin great ‘again’!

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