Crypto & Blockchain Quarterly Market Update
Phoenix Paradigm Indicator
Dear participants of the Phoenix Paradigm Indicator and fans of Phoenix Decentralized Solutions; we hereby would like to present to you our quarterly report of the third quarter of 2018. A lot has happened in the blockchain sphere. In this update, we’ll share with you the things that stood out to us, as well as informing you about the performance of the Phoenix Paradigm Indicator.
PPI Quarterly Stats
The third quarter of 2018 is behind us, it has been a roller-coaster ride on the markets. July started off with a hopeful rally, increasing the PPI up towards $0.58 dollar. After that we saw a lot of selling pressure across the markets, most notably in Ether, which pulled the value of the PPI down to an all time low of $0.27 cents. The market is at a very important crossroad right now. The sentiment seems to be divided. It is yet to be seen what direction we will go from here.
Overall the PPI declined 40.73% during Q3.
PPI Restructuring & Rebalancing
This quarter we have a number of changes to the structure of the Phoenix Paradigm Indicator. They are listed and motivated below.
1. SingularDTV SNGLS from 2.5% to 0% (Removed from the PPI).
We suggested the complete removal of the SNGLS token out of the PPI. We can’t get a clear picture of the direction SingularDTV is heading. Our vision about decentralization is not in line anymore with how SingularDTV runs its business. We find a lack of community building and clear efforts toward the greater Ethereum ecosystem, which we think is a key factor for success.
2. BitcoinCash BCH from 5% to 2.5%. (decrease)
BitcoinCash’ main advocate Roger Ver is not a voice in the blockchain ecosystem which we associate ourselves with. His tactics often revolve on creating sharp contrasts with others instead of looking for innovative solutions together. Furthermore, the amount of BCH that BitMain has, is problematic for the future. We think that as the Bitcoin network develops with innovations as Lightning network, BitcoinCash might lose appeal.
3. ICONOMI ICN from 5% to 2.5%. (decrease)
After careful review we have decided to lower weighting of ICN in the PPI. The ICN token is currently going through a transition from ICN to eICN which can be considered traditional equity share of ICONOMI as a company. Although we are excited about this development we do however have to determine in what sense this specific structure contributes to a decentralized future and in what way the eICN will behave. With these uncertainties we think we owe it to our investors to reduce risk and exposure to the ICN token.
4. Dash DASH from 5% to 7.5%. (increase)
We have been monitoring DASH closely and we’re getting ever more exiting about its future. The past months we have been telling you about the new road map to DASH evolution and mass adoption taking place in South America. We think the DASH network, with its Proof of Work/Proof of stake mechanism already in place for years, is still the leading crypto currency after Bitcoin. And soon to be a platform.
5. Stellar Lumen XLM, from 0% to 2,5% (NEW in the PPI).
We have suggested to add Stellar Lumen to the PPI. Stellar is an fork of Ripple and advocates to be a ‘…a platform that connects banks, payments systems, and people. Integrate to move money quickly, reliably, and at almost no cost.’ Stellar has since the very beginning a clear focus on underdeveloped countries and the Stellar Consensus Protocol allows the network to be extremely decentralized. For more information see:
6. Waves WAVES from 2.5% to 5%. (increase)
Waves has recently upgraded the network to allow for Smart Contract capability. As they are one of the first after Ethereum, we applaud this upgrade and hope to see increased competition on the blockchain ecosystem when it comes to handling smart contracts.
Together with this Restructuring, we also suggested to ICONOMI.net a rebalancing of the PPI. We expect this to be executed by ICONOMI.net anytime.
Please note: the PPI is a product of ICONOMI.net. ICONOMI.net is in full control over the PPI and does the actual managing of the DAA. We do not have any insight or access to personal data of people participating in the Phoenix Paradigm Indicator. See our disclaimer at the bottom of this update for more information.
We will look back at some of the highlights on assets in the PPI that we discussed during this 3 months.
The DigixDAO community has been called to vote for the first time. It is laying the base for its use of the Decentralized Autonomous Organization.
TenX’s product can contribute to the adoption of the Blockchain technology in a profound way. It will provide more freedom, equality and autonomy for users, since they can freely spent virtual currencies anytime, anywhere.
Constantinople is the second phase of the greater Metropolis upgrade on the Ethereum protocol and has the promise to make Ethereum ready for the enterprise level.
Evolution will include the DAP architecture which will allow for dApps to be build on top of Dash. This is likely to be a game changer for Dash as it is growing out of its digital money phase.
With this upgrade it will be able to offer its users Multi signature Wallets, the ability to perform Atomic Swaps and Token Freezes and will open the way for developers to build Decentralized Applications on the Waves blockchain.
This is just a selection of the many updates we try to give you every week through our weekly news letters.
Weekend read — The Meaning of Decentralization
This weekend we encourage everyone interested in decentralization to read up on this analysis of Vitalik Buterin himself. He has an excellent write up about the meaning of decentralization. Dissecting the concept into multiple parts like ‘political decentralization’ and ‘logical decentralization’, many small differences in the concept of ‘decentralization’ now begin to make sense. Increase your knowledge and understanding of the revolution and read on!
Enjoy, and have a great weekend!
So you found our update, but you’re still standing on the side? We invite you to join our vision for a better world through blockchain and decentralization. Visit our website, join the Phoenix Paradigm Indicator DAA or reach out if you have any question or remark. We are here to help and make it easy for you.
We hope to have informed you to your satisfaction. If there remain any questions, feel free to contact us.
Best regards and happy paradigm shifting,
Disclaimer: The content and information published in this update do not constitute a financial, investment, tax, legal or any other professional advice, nor shall they be deemed as a recommendation to buy or to trade with any or all of the aforementioned product units or other services. The information published in this update shall not be interpreted as an offer to issue or sell, or any invitation to an offer to buy or to trade with any financial instruments, but is intended solely to provide investors with information. Retail clients should seek assistance of an independent financial or tax advisor prior to making any investment decision.
Is the PPI a product of Phoenix Decentralized Solutions?
No, the Phoenix Paradigm Indicator is a product on the ICONOMI.net platform. If you decide you want to join the PPI, you sign-up with ICONOMI and agree to the terms&conditions of ICONOMI. We do not have any access to your personal details. Our role is to explain what the PPI is and we can help you set up your ICONOMI account by providing tutorials, personal support and guidance. If you have any questions about your participation, please contact ICONOMI.