Sparkster ICO — Review

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Sparkster provides a platform that makes it easy to develop software — with no programming skills required. In simple English, code should be written, which then runs on the remote cloud as smart software, with 10 million transactions per second.

The vision is to drive innovation and give ideas an opportunity that would otherwise have failed due to financial or technical barriers.

Token, Tokenprice and Presale

SPARK is an ERC20 standard token that can be purchased in crowdsale for $ 0.15. There was a presale, but it has already expired. Minimum investment was 20 ETH — only the bonus tokens (bonus is 30%) are subject to a restriction and are not transferable for one month (‘locked’). Presale spent 250 million tokens.

Token distribution and Marketcap

67% of the SPARK tokens go to the investors. As stated above, 250 million were earmarked for the presale and another 38 million are to be sold in crowdsale. The hardcap to be reached is $ 30 million, the total market cap is in the end at about $ 65 million. Both values ​​are in a good range and allow for further growth.

Most of the funds raised (70%) are spent on research & development and marketing & sales.

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The picture above also shows which parties will keep SPARK tokens for which part. Praiseworthy is that the majority of the tokens are distributed to investors and the team will hold only 10%. The control over the offer is thus not only concentrated at one point.

Particularities

The team has decided not to run the ICO quite conventionally. To reward people who are not only financially but also emotionally invested in the project, the tokens are distributed as follows: (1) Proof of Love — 75% of tokens, (2) Lottery — 25% of tokens. In summary, this means that (1) you are participating in the rewards system and performing various tasks, such as those known from the Airdrops. The more Rewards you collect, the more tokens you can claim for yourself in Crowdsale. In (2) is a normal lottery.

Sparkster project details

Idea

Sparkster enables decentralized execution of software in a cloud. So-called ‘miner’ provide compute-intensive services of their mobile devices (mobile phone, tablet, laptop, etc.) at a self-determined price for the cloud. Companies can then run their software over it. The SPARK token serves as the currency in this transaction. Be built, the software to be executed can easily on the Sparkster platform. It should give every user — especially those without programming knowledge — the opportunity to realize their own ideas. So here we are talking about a kind of modular system for software development. The same software should also be sold on the Sparkster marketplace and bring the developer also monetary added value.

The goal is to clean up problems such as (i) outdated software, (ii) slow development, and (iii) lack of human capital. For example, today’s software offers little support for interactions with IoT devices, AI or smart contracts. The entire development cycle and its adjustments (Software Development Lifecycle) is too slow and the talent required for it virtually does not exist. Here Sparkster wants to counteract with its easy-to-use platform and the decentralized cloud.

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Another advantage is the targeted cost reduction. Fewer hours of work mean fewer expenses, and the developer no longer needs to be highly skilled, and the decentralized cloud eliminates the need to buy expensive hardware.

Market and competition

The market for cloud computing is approximately $ 246 billion. The competition consists of companies such as Oracle, SAP or even Microsoft. In addition, Sparkster has the opportunity to tap shares in other markets, such as in the field of IoT, AI or smart contracts. As a direct competitor to Blockchain with a focus on the cloud and dApps, iExec comes to mind. The company also focuses on a decentralized cloud that developers can use to run their own software. The RLC token is already traded on exchanges such as Bittrex and Binance, the market cap is approximately $ 92 million with a fully functional product.

So if you take into account that we at Sparkster expect a market cap of $ 65 million, the project will still have nearly a third up. Moreover, it can stand out due to the easy operation of iExec.

Project development and roadmap

The Sparkster platform is already functional and can be tried through a website. The team has emphasized that it would like to offer a finished product before the token sale and has achieved that goal. Q4 2018 will be followed by the decentralized cloud (Alpha Stadium), which is currently in beta.

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So far, the roadmap has only been worked out until 2019, which unfortunately is very short-term and raises questions about how the project will continue beyond that. At least there are several, even smaller milestones for the next few quarters, which should illustrate and record the progress of the project.

Sparkster Team

The Sparkster team consists of 25 employees. 4 of them are active in the management and 21 in development. One person is responsible for marketing. They are supported by 2 consultants.

Sajjad Daya (Founder & CEO) has 15 years of experience in building and managing multimillion-dollar companies ($ 50+ million), according to his LinkedIn profile. He has more experience as a CEO at Printerpix; He also worked for CISCO as a Technical Support Engineer. With only around 280 contacts, his network at LinkedIn only moves in the lower range.

Amit Kumar (VP Technology) has 20+ years experience in the IT sector across industries, including healthcare and eCommerce. He was a senior development manager at Wipro Technologies (the company has a workforce of over 160k). He also has experience in the development of SaaS.

Also Shabeer Kirmani and Dayanie Rajeev are part of the management team, but are mostly being subordinate in this case. Dayanie is responsible for human resources and has already worked for companies such as IBM, citi bank and accenture. Shabeer has worked with Fortune 100 companies including AT & T, Pfizer, and NBCUniversal, with experience in finance, telecommunications, pharmacy, computing, consulting, and data science. He is also more or less responsible for marketing as a tech evangelist and wants to generate more attention for Sparkster through conferences.

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The major disadvantage of the team is that, according to the information available, both CEO and VP Technology have no experience with the Blockchain technology. Mitigating circumstances brings Amit Kumar, who has at least experience in SaaS and can contribute positively to the project. Although all of them worked in well-known companies, the contacts on LinkedIn do not reflect good networking: Dayanie currently has 117 contacts, Amit Kumar 101 and Sajjad 280 contacts; only Shabeer stands out with 500+ contacts.

Sparkster consultant

Gary Leavens and Juan Albelo are the project’s two consultants. Mr. Leavens holds the Chair of Computer Science from the University of Central Florida and has extensive experience in research and programming languages. In 1989 he received his Ph.D. made at the MIT. Mr. Albelo works as SAP’s Head of HCM Sales and has gained additional sales and marketing experience from companies such as Oracle, PeopleSoft, SuccessFactors, SunGard, and PeopleFluent. They also lack Blockchain experience.

Sparkster ICO rating — conclusion

Sparkster wants to serve a billion dollar market and be among the ranks of successful companies like SAP, Microsoft and Oracle. Even if the idea of ​​the decentralized cloud is not new, the implementation of the platform in the sense of a modular system is unique and at the present time offers a unique selling proposition. A finished product is already available and the end of 2018 should follow the alpha version of the cloud. Other pluses are the targeted 10 million transactions per second and the evolution to ‘smart software’, which offers everyone the opportunity to work out including Smart Contracts in plain English and without programming knowledge. All in all, the entry into the market for users who are not necessarily from IT,

The optimism dampened the too short-termed roadmap and the unfortunately missing experience of the team with the Blockchain technology.

For a short-term flipping speaks the good hype and the external reviews, especially those of Ian Balina. As a result, the ICO already secured excellent publicity at the beginning, as evidenced by the sell-off of the presale.

Sparkster ICO — data

· Project name: Sparkster

· Symbol: SPARK

· ICO start: TBD

· Token Price: 0.15 USD

· Presale: 250 million SPARK, bonus: 30%

· White Paper

· Hard Cap: $ 30,000,000

· Token distribution: 67% for investors

· website

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