Why did Icn receive such a high evaluation? What is unique in this project that claims to sabotage AWS?
There is great news in the DePin path recently that is underestimated! Impossible_cloud (ICN) recently received strategic investments from NGP Capital, and its evaluation increased to $ 470 million. As you know, NGP Capital is an early helium and Xiaomi. The question is, how ICN got such a high evaluation? What is unique in this project that claims to sabotage AWS? This article will be dissected by technical business logic in all aspects:
1) The traditional cloud computing market by AWS, Azure and Google Cloud is emerging, where “new centralization” – data, computing and network resources are all controlled by some companies. This leads directly to many problems:
1. The platform tax is rising and higher: the giants increase service prices in general, and institutions are forced to accept the costs of the growing cloud;
2. Locking the seller increases in depth and deeper: Once the company works on a specific cloud, the cost of deportation is high and users cannot go out;
3. Data sovereignty is no longer belonging to the institution: your data is actually stored on another person’s server, privacy and safety are completely dependent on the statute.
Simply put, ICN tries to create a decentralized cloud infrastructure network to allow institutions to restore data sovereignty, reduce costs and avoid the seller lock. This is also a proposal for the basic value of DePin – using Blockchain technology structure and features of features to rebuild traditional physical infrastructure and restore control of central domination.
2) How do you do that specifically? ICN technical engineering looks complicated at first glance, but in terms of Layman, the division of traditional integrated cloud service into “checks and balances” consisting of three layers:
1. Devices layer: Equal “infrastructure workers” for cloud services, global equipment (HPS) equipment of devices at the institution level, instead of regular computers or inact computing power. This is very important because institutional agents will not put their basic work on unstable devices at the consumer level. This ICN model allows to collect computing power more in theory than the infrastructure that has accumulated by AWS and Google over the past 15-20 years, just like the impact of the participation economy on the hotel industry;
2. Service layer: What is equivalent to “applications” for cloud services, service providers (SPS) builds many cloud products at the top of devices resources. Using LEGO’s borrowing, this layer emphasizes the ability to agree, which reorganizes infrastructure such as building blocks to generate more innovative services;
3. The Monitoring Layer: The “independent judgment” of cloud services is equivalent, the SLA ORACLE (SLA-on) contract is responsible for monitoring and verifying the quality of service. This layer directly solves the problem of “villain verification” that DePin projects are facing commonly – how to make sure that the device already provides the demand for it? The traditional DePin depends mainly on “confidence”, while ICN provides an verified proof mechanism.
The three layers are coordinated through the ICN (ICNP) protocol, with market -based pricing and automatic implementation of penalties and bonuses, which constitutes an environmental system that regulates self -regulating.
Compared to storage -based DePins such as Filecoin and Arweave, which generally depends on “confidence” to solve verification problems, decentralized architecture consisting of three levels of ICN is equivalent to installing “anti -jamming system” on cloud services, which can solve the DEPIN’s pain points.
3) Unlike many Blockchain projects that issue the first coins and then implement the road map, ICN stumbled in the other direction and chose to implement business first and increase revenues. According to the statistics revealed by the project party, the project has already has more than 1,000 European and American companies, where annual revenues exceed $ 5 million and a growth rate of 2000 %, and ARR contractor is expected to reach $ 32.7 million by the end of 2025.
ICN’s business strategy is also very smart. “Storage” is used as a starting point and focuses on the B2B Customer Customer Service. Why storage? Because once the company’s data is on a specific platform, it will naturally form “data attractiveness”, and computing services and subsequent networks will be deported.
This approach, which targets customers of companies who want to pay the actual demand for payment and stable demand, enables from ICN to create a stable cash flow rather than relying on investor money to survive.
4) What is worth noting is that the symbol is the advantages that perfectly fits the logic of its business and it seems that it is relatively pragmatic.
1. 3. The reward tool: Oracle Nodes and ICNT ICNT are received for their contributions.
This design makes the “blood” icons the network instead of the speculative tool, and its value comes from the actual scope of business instead of noise.
Unlike most DePin projects that depend on continuous high inflation subsidies to attract participants, TOKENICS ICN follow the growth growth and will not fall into the vicious cycle “for mining sales breach”. It should be said that this sustainability has a reference importance to the entire DEPIN path.
Finally, I would like to add that the ICN team has a very strong European and American background:
Participating founder Dr. Kaiwawrzinek founded the foundations and studios of the Goodgame indirectly listed on the Nasdaq Stock Exchange; The main members of the team enjoy the fields of games and cloud storage, and CTO has patents related to storage; The project received $ 18 million in financing, and investors extend to Web3 and traditional fields.
As an early investor in Helium and Xiaomi, NGP Capital, a Best Bank supported and managed by 1.6 billion US dollars, has entered the market, which is a strong approval of the ICN development prospects.
above.
According to the market expectations, the global cloud infrastructure market amounts to annual revenues of about $ 313 billion, and is expected to reach 837.97 billion dollars by 2034. ICN goal is to become “AWS of Web3”, and even if you get only a small part of the market.
However, in my opinion, ICN represents the settlement focus to penetrate the web3 technology in the basic information technology systems of institutions. What is meaningful is that ICN, a project that practically integrates the features of the Web2 and Web3, opens a more feasible path to apply the Blockchain level at the institution level.
