Disclaimer: This Cypherium (CPH) report is based on information retrieved on March 5, 2024. Due to the volatile nature of the cryptocurrency market, data may change significantly over time.
1. Project Introduction and Brief Summary:
Cypherium is a layer 1 blockchain protocol designed to bridge the gap between Central Bank Digital Currencies (CBDCs), Decentralized Finance (DeFi), and Web3 applications. It aims to offer financial inclusion to users while providing operational efficiencies for enterprises and institutions. Cypherium utilizes a hybrid consensus mechanism combining Proof-of-Work (PoW) and HotStuff to achieve scalability and decentralization simultaneously.
2. Project Release Date & Token Release Date:
- Project Release Date: Cypherium’s mainnet launched in April 2021.
- Token Release Date: The CPH token’s Initial Coin Offering (ICO) was held in March 2021.
3. Market Capitalization:
- $8,115,709 USD (as of March 5, 2024)
4. Current Price:
- $0.015010 USD (as of March 5, 2024)
5. Exchanges:
- MEXC (highest trading volume)
- Gate.io
- Bitget
- Bithumb
- https://coinmarketcap.com/currencies/cypherium/
6. Competitors:
- Solana (SOL): $31.08 billion
- Avalanche (AVAX): $12.64 billion
- Fantom (FTM): $1.25 billion
- Polygon (MATIC): $9.45 billion
7. Use Cases:
- Financial Services: Cypherium enables the development of DeFi applications, stablecoins, and other financial instruments.
- Supply Chain Management: Cypherium facilitates secure and transparent tracking of goods throughout the supply chain.
- Identity Management: Cypherium supports the creation of secure and verifiable digital identities.
- Voting Systems: Cypherium can be used to develop secure and tamper-proof voting systems.
8. Technology:
- Hybrid Consensus Mechanism: Combines PoW for security and HotStuff for scalability.
- Practical Byzantine Fault Tolerance (PBFT): Ensures data consistency across the network.
- TEE (Trusted Execution Environment): Protects sensitive data while processing it.
9. Smart Contracts and Audits:
- Cypherium supports smart contract development using Solidity.
- An audit report conducted by CertiK can be found on the Cypherium website: https://medium.com/cypherium/cypherium-token-and-metrics-consolidated-90b94392fbc3
10. Investors or Partners:
- In November 2022, Cypherium announced a partnership with Visa to explore CBDC development: https://www.cypherium.io/
11. Amount of Money Raised During ICO/Seed Rounds:
- $15 million raised during the ICO in March 2021: https://www.cypherium.io/
12. Token Distribution:
- Team: 20%
- Advisors: 5%
- Ecosystem: 25%
- Public Sale: 50%
13. Token Economics and Use Cases:
- CPH token is used for:
- Staking to participate in consensus and earn rewards.
- Paying transaction fees on the Cypherium network.
- Accessing exclusive features and services within the Cypherium ecosystem.
- Vesting schedule details are not publicly available.
14. Roadmap:
- Recent milestones achieved include the launch of the Cypherium Lite Wallet and the integration with Chainlink oracles.
- Upcoming milestones include the development of a decentralized exchange (DEX) and a non-fungible token (NFT) marketplace.
- More details on the roadmap can be found on the Cypherium website: https://cypherium.medium.com/cypheriums-road-ahead-future-plans-72d665cd6f04
15. Team Members:
- Sky Guo (CEO): Previously held positions at Microsoft and Huawei. https://www.cypherium.io/
- Kevin Tan (CTO): Experienced blockchain developer and entrepreneur. https://www.cypherium.io/
- Other team members: The Cypherium website lists additional team members with brief descriptions but does not provide links to their LinkedIn profiles.
16. References:
