Source: Doter official account
Original link: https://mp.weixin.qq.com/s/Baq18n-JUqrRfkkH-QYNAw
Recently, the Polkadot ecological project has been on fire, and some projects have been bluffing and defrauding with the words Polkadot Ecology and conducting so-called private placements. Brother Duck, as a slightly famous KOL in the Polkadot community, cannot allow such things to happen. I think it is time to teach everyone how to select projects.
Lets define first: what is Polkadot ecology? On Ethereum, deploying a DAPP and issuing a Token can be called the Ethereum ecology, but on Polkadot, issuing a chain through Substrate with one click, and issuing a chain, cannot be said to be Polkadot ecology.
Because on Polkadot, you must pass the parachain slot auction and officially become a parachain of it to become a part of its ecology.
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1. The value of DOT
Many people do not understand where the value of DOT is reflected.
Polkadot is not a public chain, and it cannot be used to deploy smart contracts and develop Dapps. What is the role of DOT besides mortgage and governance?
The main role of DOT is to participate in parachain auctions! Because Polkadot can achieve shared security, cross-chain and other functions, some projects will obtain these Polkadot resources by leasing parallel chain slots, and DOT is the main value storage method for auctions.
Therefore, the value of DOT depends on how many projects there are and how much they are willing to spend to buy DOT and auction slots.
If you are a DOT holder, you should support high-quality Polkadot parachain projects - the more projects based on Substrate, the more projects will participate in the auction, and the DOT will be more valuable.
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2. Look at the plate track
Lets take a look at a picture first:
The picture above is Polkadots plate. Some are bridges, some are Defi, some are smart contracts, and a hundred flowers are blooming. So what do you think of Phalas privacy section?
Is it the infrastructure of many projects.For example, smart contracts are an essential function of all blockchains. For example, oracle machines are the infrastructure of many DeFi projects. In the article, Duck Brother once said that the logic of LINK’s skyrocketing growth is precisely because of the oracle machine sector. The privacy section, Brother Duck believes that it is the infrastructure of many application blockchains, such as the well-known social field.
Does it overlap with other sections.Phala is designed as a data transaction infrastructure under the Web3.0 model, providing private data collection, hosting, analysis and transactions through Phalas confidential smart contract capabilities.
The collection of private data, such as the Internet products we use now, private data is exposed to the platform, and they use your data without permission and free of charge, but in the future Web3.0, when third parties need personal private data , requires payment and your authorization. For example, if an e-commerce company needs to recommend milk powder advertisements for families with babies, they need to pay PHA, and then accurately obtain those users who need it on the chain to push.
From this point of view, Phala is not only a privacy sector, it should also belong to the data sector.
Pick items that have a clear head inside the plate.mdnice editor
3. Look at the support of Web3
The Web3 Foundation is an independent official foundation of Polkadot. It specializes in investing and sponsoring Polkadots ecological projects. It is a major benefit for the project to be affirmed by the Web3 Foundation!
From the perspective of Web3 Foundation and Parity’s support for ecology, Polkadot’s core team is the most supportive of “native projects”!
What is a native project? It is this project that was developed in Polkadot from the very beginning, instead of going to Polkadot to gain popularity after issuing a coin. This also talks about an inside story, which projects are actually written in the Polkadot white paper that Polkadot supports the most:
This is a list of Polkadot white papers, including the well-known Acala, Laminar, Phala, ChainX, Darwinia, etc. The project that can be written into the Polkadot white paper, Brother Duck tells you that this is the wealth code!
Do you understand? This is the same as your relationship with your friends. You will definitely cherish the good friends who never leave when you are poor, rather than the friends who come to post relationships after getting rich.
These teams are projects that Polkadot started to develop in the early days. They are not only loyal, but also have a good official relationship with Polkadot. They have received a lot of support in slot auctions and ecological resources. Phala has received a lot of official support from Polkadot, such as:
Two Web3 Foundation grants
Kusama council grant support
Members of Web3 Training Camp
Member of the Substrate Developer Program
Was invited to the Sub0 Summit in Berlin last year, etc.
The risk of Polkadot itself. The parachain is only in the testing stage at present, and there is still a long time before the actual launch. No one can guarantee that Polkadots parachain will go smoothly.
The probability of success for the project to run for the parachain. For projects without a consensus mechanism, failing to run for a parachain is equivalent to zeroing out. Phala has an independent consensus mechanism, and the success rate of projects supported by Web3 is not bad for running for a parachain, so the risk for Phala is relatively safe. control.
Project mainnet online planning. Many projects are limited by their overly ambitious goals, and the main network has been unable to land for a long time. This should be evaluated in conjunction with the strength of the project party itself.
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4. Look at the teams contribution to the Polkadot community
Before Brother Duck investigated Phala, he actually didnt understand privacy computing and infrastructure. But I turned to an article written by the founder of Phala last yearFrom Berlin to Parallel Worlds—Sub0.1 Experience, let Brother Duck know at once that this is a die-hard supporter of Polkadot.
First, this article was written when Polkadot was questioned by many people last year. It shows that this team started researching and doing things in the early stage of Polkadot ecology. Second, this team went to the Polkadot headquarters in Berlin last year to exchange technology, which shows that they are very serious about technology iteration. Third, the article is very detailed, and it has given a lot of first-hand information and knowledge points to the domestic community. This kind of contribution is only willing to make by long-term supporters.
As a Polkadot privacy project, Phala not only provides a lot of open source code for the Polkadot ecosystem, but also participates in many contribution activities of the Kusama community. Duck took a special look at Phalas code situation, and had to sigh that it was indeed powerful.
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5. Look at the scale of project development
Assessing the value of a project depends on its current development, such as community, node size, etc. Let’s take Phala as an example.
First, Phala insists on airdropping to the Polkadot community.
1. Many Polkadot projects, such as Edgeware and Plasm, are airdropped with ETH as the target. But Phala chose Kusama. I asked Marvin why. He said that when designing in March, he only wanted to give the Polkadot community its own currency, but DOT has not yet been launched! Therefore, we can only choose KSM, and the KSM holders who participated in the Phala event later enjoyed a 5-10 times increase.
2. The activity of the airdrop Kusama community is astonishing. According to statistics, there are nearly 2 million KSM mortgaged on the nodes of the Phala airdrop event! 2 million, which is one-fifth of the total Kusama. This shows that PHA has the support of many Polkadot community fans.
Second, the number of nodes in the Phala test network is large and persistent.
Phala ended the test activity of Rorschach Testnet last month, and Brother Duck was very impressed! Because when Brother Duck opened the node graph, the web page was stuck—there were too many nodes.
Phala had more than 1,000 nodes at that time, and it persisted for more than 20 days. This shows that many developers are optimistic about Phala, so they will run nodes.
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6. Look at Token distribution
Brother Duck has a very sharp point of view here. Brother Duck believes that when investing in Polkadot projects, it must be determined whether the Token allocation has reserved a share for participating in parachain auctions in the future. If a project does not even have a plan to participate in the parachain auction, then it must not be a Polkadot parachain in the future, let alone a Polkadot ecological project.
Phala’s Token allocation is as follows: 80% of the coins are community and miners, and the team only has 5%. This also leads to a high proportion of private equity investment unlocking in the early stage, and the team’s part is too small. This is also everyone’s concern place. But the Phala team told me that most of the private equity unlocks are because they, as investors, have confidence in Phala and are optimistic about long-term holdings.
Secondly, they hope to open lower, because PHA is currently an ERC20 currency, and they hope that the mainnet launch will become the biggest driving force. After the mainnet is launched, it is estimated that 50% of the mortgage rate and 30% of the coins will be mined in TEE. The influx of TEE miners will really revitalize the vitality of this mining coin.
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Seven, look at risk factors
Any investment is risky. What risks should be paid attention to in the Polkadot ecological project?
The return on investment comes from poor cognition, and a decision can only be made after careful research on a project. Writing this article today is to hope that more people can have their own judgment standards. Only when they have enough knowledge, will they not become leeks that are harvested in this circle.
