ALT Coin Discussion #1: KardiaChain
KardiaChain: A New Crypto With Massive Hype
Kardiachain seems to be gathering a lot of attention among crypto enthusiasts and investors. In this article today, I am going to go over important details anyone might want to know about the company. I will also briefly talk about my own opinion on KardiaChain’s approach to blockchain technology.
Finally, if you’re looking to read an article which has done a detailed metric analysis of KardiaChain, please see the link I’ve posted in the conclusion at the bottom.
Please keep in mind the intention of this article is not for giving financial advice. This is purely a collection of my own conclusions based on the research I’ve done on KardiaChain. Please do you own research, and draw your own conclusions. All products shared in this article are only for the intention of providing information, and I am not selling anything. Thanks for reading!
Quick Overview
KardiaChain was born in the summer of 2019 when they issued their native token (KAI). They were then subsequently issued on the ERC-20 Standard Token making KardiaChain tokens compatible with popular online hot wallets such as Trust Wallet and hardware wallets such as Nano Ledger.
Throughout the price history of the coin in conversion to the dollar, it has had an all time low of $0.0004 and an all time high of $0.047.
And it has certainly has been the focus point of much hype recently as the Mainnet Launch was recently announced for December 29th.
But what exactly is KardiaChain? Perhaps the best way to answer this is for them to tell us. In the company whitepaper they say,
“The ultimate goal of KardiaChain is to create a unified ecosystem where developers can easily create smart contracts that can run on multiple blockchains, in order to to optimise costs, avoid congestion, and allow communication with smart contracts on other chains in a trustless and secure manner.”
This blockchain ecosystem defined by them means blockchains which work together as opposed to the current approach where as they say chains are built to make others obsolete. We’ll dive into my thoughts on this type of technology later.
For now, let’s take a look at some notable figures from the KardiaChain team.
Key Figures
Huy Nguyen
Huy is an alumni of the University of California, Berkely where he graduated with high honors. He is also a highly seasoned tech veteran. He managed teams on many “high profile” projects including Google Access Wireless Platform and Google Fiber Network Infrastructure(Google’s fiber optic-based broadband internet service). Below you can see some of his past employment history. Currently, Huy is serving as the Cheif Technology Officer of KardiaChain.
Tri Pham
Tri Pham is currently serving as the Cheif Executive Officer for KardiaChain. According to his Linkedin profile, he has ten years of experience across many fields including finance, and mobile app development. His general business goals are to bring “cutting-edge technologies to the masses.”
While he was director assistant at Know One, Teach one, a Vietnamise based not-for-profit social enterprise, he helped manage a three million dollar fund. Before his role as a co-founder at KardiaChain he was a co-founder for another company called AppFluke where he lead the team’s research and development. AppFluke was a, “startup focused on brining cutting-edge technology to everyday consumers.” He resigned in 2017 to move on to KardiaChain.
Below you can see his full work & employment history from Linkedin
Anthony Vo
Anthony is now serving as the Chief Financial officer for KardiaChain. He has a long history working in banking and finance. According to his Linkedin profile, while serving as the first vice president for the Bank of Hope, the largest Korean American bank, he lead a “quantitative” team “to assist various business units with financial modeling.” Anthony has also held a handful of other positions of leadership in work and internships most notably at KPMG, a U.S. based audit and tax advisory firm, where he managed, “pricing stratgies, capital planning, etc. to help clients with business decision improving process controls, and to reduce risk exposures.” Below I’ve copied and pasted his work and education history from Linkedin.
Why KardiaChain Is Attracting Online Attention
Their team appears to be very serious. They all either have extensive experience in the software and/or business sectors. Furthermore, on Twitter KardiaChain has done an impressive job with their social media engagement according to a report from altcointradershandbook.com. Nik Patel, the writer, concludes that while engagement has declined a small amount, he observed that their rate of engagement is currently 18x higher than that of other crypto-currency projects.
They’ve also had a slight increase in Facebook followers. Here, Nik reports that their Facebook engagement level is exceptional.
Strong social media engagement means more than likely the project members are serious about having a long future in store for KardiaChain.
KardiaChain also has been entering partnerships with many big names including VNDC Stablecoin. VNDC is the largest crypto exchange market in Vietnam. The VNDC exchange service issues, “direct bank transfers to the largest bank in Vietnam”, VietinBank. This has lately been the cause of lots of hype on Twitter and Telegram. Still, it is a good sign that they’re working with well established people. So why is this partnership significant? An article from medium.com reads,
“VNDC is a stablecoin and cryptocurrency exchange operated by blockchain and backed by the legal currency of Vietnam Dong (VND). It is our strong strategic partner with nearly 1 million users — the largest crypto community in Vietnam.”
These are pleasant signs for a possible flourishing future for KardiaChain. But this brings us to the next topic now.
Warning Signs For Potential Investors
Like in any form of trading, especially with AltCoins, there are risks investing in KardiaChain. See the excerpt below in which Nik Patel points out some issues with in his metric analysis in his article at altcointradershandbook.com.
This is the third time Nik has found Kardiachain has declined in buy side liquidity. He concludes that it doesn’t make sense that buy side liquidity is dropping while the price for trading KardiaChain has lowered. For those of you like myself who are nearly illiterate in trading analysis, I’ve attached an example below from cointelegraph, a well known publication for cryptocurrency, to explain why low liquidity is troubling.
Hype
There is easily observable hype all over social media platforms for KardiaChain right now. With less than two weeks before Mainnet launch on December 29th 2020, KardiaChain is continuing to establish new firm partnerships in the business and financial sectors. This causes many enthusiasts to jump the gun and say KardiaChain is going on a bull run to the moon. While these are all good signs; anyone who has a little wisdom will recognize that there is no certainty in the world of trading.
Just yesterday Cryptodiffer.com, a popular source for blockchain and crypto news, announced KardiaChain ranked number one on a list created by LunarCrush Galaxy Score. This list is they say, “constantly meauring crypto against itself with respect to community metrics.” Check out the illustration below.
One of the most fascinating things I found was the title of the KardiaChain whitepaper as you’ll see below.
This “Interoperability” is part of much hype on the twitter community. Crypto investor CryptoKit said on twitter:
In the context of the blockchain technology, interoperability can be loosely defined as blockchains having access to other blockchains. This is just as KardiaChain defines it in their whitepaper, “public/permissionless” access. KardiaChain defines this collaboration of blockchains as the, “smart ecosystem.”
Furthermore, the KardiaChain team has invented a new type of blockchain technology called the dual node sensor. The dual node sensor will play a key role in the smart ecosystem. The KardiaChain team writes in their company whitepaper, “the current approaches to achieve this(decentralization and transparency) either are built to make others obsolete, or requires a significant change on the part of the participating chains.” Take a look at the illustration below to learn more about the dual node sensor.
Whether or not the dual node sensor and their smart ecosystem will actually revolutionize blockchain technology has yet to be proven. Nonetheless, there is certainly truth to the fact that KardiaChain is making impressive new partnerships, and the project is moving with rapid momentum. Only time will tell.
My Concerns with KardiaChain and the future of Blockchain
To my own understanding, interoperability in block chain technology is not the direction we should be heading. The real exciting idea about blockchain technology is restrictless privacy.
Therefore, blockchain technology is a threat to the central bankers and owners of financial institutions. They know this provides the opportunity for them to lose all of their control. People and institutions in positions of power have a vested interest in stopping this as illustrated in the below excerpt.
So, my takeaway is that I am concerned by this movement in blockchain technology, and I hope that people will recognize the potential danger that lies ahead here with interoperability.
Conclusion
This covers all the topics for this segment of my Alt Coin Discussion series.
KardiaChain is a serious project with a team of tech and business experts. For a thorough metric analysis please check out this article by Nik Patel, Coin Report #72: KardiaChain.
Also, please see their Twitter profile and KardiaChain website to learn more if you desire to do so. Thanks for reading!
Webiste: https://kardiachain.io/
Twitter: https://twitter.com/KardiaChain
