Internet Node Token – A mess with high potential
February 2, 2018 BY Sebastian Ifversen
First, let us figure out what Internet Node Token (INT) is all about.
Internet Node Token aims to create a new generation of the IoT (Internet of Things) system to improve the interconnection within the whole network. They will build a framework for machines and devices, and create a token, which will be used to facilitate the resource exchange between nodes and heterogeneous links (A heterogeneous network is a network connecting computers and other devices with different operating systems and/or protocols).
“For example, a node may make a request and pay corresponding tokens to request other nodes (or links) to provide power, network, data, service and other possible resources. In addition, through zero knowledge proof (specific improvement as necessary), optional masking may be conducted to protect user privacy and improve security.” (https://intchain.io/whitepaper/INT-whitepaper-release-EN.pdf)
Internet Node Token will use the Ethereum blockchain to provide a reliable data source for IoT applications.
Now we have an idea of what they are trying to do, so let’s dive into the good and the bad.
They recently improved their website from being a total mess to representable. First, when you go to the front page, you will see that they have a whitepaper, which is great until you actually read it. You will then stumble on to the team section, where you will realize that they have a small, but the very experienced team, with people from Huawei, Microsoft, and Eastcom, and that is very impressive. When you scroll down even further, you will see that they saved the real ‘kicker’ for last;
According to the INT-team, they have partnerships with IBM, Huawei, IMECAS, RUFF, Microsoft Research (MSRA), JIC Capital, Zhejiang University and SCEE.
BUT, the partnerships with IBM, Huawei and Microsoft are NOT CONFIRMED, which makes this picture from their website very misleading.
Another concern is the whitepaper. Like mentioned earlier, the whitepaper is really bad and with very few details (8 pages long). The circulating supply is 250.000.000INT (CoinMarketCap is not updated) and the total supply is 1.000.000.000INT. That means only 25% of the total supply is in circulation, and that is definitely something to keep in mind before investing. The whitepaper poorly explains what will happen to the remaining 650.000.000INT, only that they will gradually be released over a period of 5 years. This is a concern. The whitepaper also has a roadmap section, but when you read it, you will quickly realize that it is not a roadmap, just a description of what they hope to achieve, no dates, no timeframe, no roadmap.
Alright, let us now look at the good things, because it is not all bad. As the IoT industry expands, there will be high demand for projects like INT. They also confirmed partnerships with Ruff and Zhejiang. Currently, IoTA is having some issues, which could make investors consider INT as an alternative.
Let’s sum up
Internet Node Token aims to improve the interconnection within the whole network, and because Internet of Things is expanding rapidly, there will be a high demand for projects like INT, and with INT being very similar to IoTA (6.4b MarketCap) proves that statement. However, there are a lot of competitors to INT, and because the whitepaper, partnerships and with the information currently being very limited for non-mandarin speaking, investors might favor the competitors.
This is not professional financial advice. The above references an opinion and is for information purposes only. It is very important to do your own due diligence before investing.