What is Modulum?
This is the first modular IoT devices that runs strictly on Blockchains. They claim to interface the realworld with virtual blockchains. The company is said to be a miniaturized and modular IoT device that natively works with blockchains.
How Does Modulum Work?
Although funding has ceased as of now and there is a refund being issued, Modulum’s idea was a good one. Here’s how it works:
Have an Awesome Idea
The IoT is designed to give you the freedom of expression in your devices or applications. There will be no need to use proprietary technologies, restrictive software or to worry about development costs.
Customize Your Modulum
You’ll be able to create the modulum to fit your needs. You can change its processing power, communication protocol, sensors and even the power supply as well as design. The modules used can then be added to or removed from your modulum any time. It’s all based to help you suit it to your exact needs and evolution of your application.
Develop Your Application
You can then code the most innovative aspects of your application based on various scripting languages through their API. They use embedded software that promises to take care of everything for you. It will take care of sensor data, blockchain transactions and there is no limit except for your imagination.
Use it or Market It
It will give you the opportunity to sell various products and services or simply use it in house to keep it simple. They claim to support your company from the emergence of your idea to its massive production level.
At it’s core, there is Hardware Modularity:
They have different models for use, Modulum Light and Modulum Full, both of which will respectively be used for different blockchains.
You can pick the communication protocol that is best for your needs. There is Sigfox, LoRa, GSM, WiFi, BLE, Z-Wave, ZigBee, LiFi and many others not mentioned. You can also choose which combination of them you want to choose.
There are a large variety of different sensors to choose from. They make for a truly unique application. Choose aspects like motion light, temperature, infrared, sound, geolocation, air light. They claim to be constantly releasing new sensors to the support their users.
They offer different mains, so you don’t have to let your power source dictate what device you decide to choose. You can either use your own or pick a battery from your own catalog.
You can use the platform as a standalone or mount it PCB-on-PCB. You can then pick a standard case from your catalog and have the housing built custom to your needs.
What is the Modulum Ico?
At this point, the company has chosen to cancel their ICO and relaunch their funding efforts for the platform sometime in the future. This looks shady and fishy. For a company to halt its funding efforts for it’s ICO shows there is potential problem occurring within the company.
Once the project is completed, they will be able to give their investors a package that is completed according to them. They claim it will be attractive from a technological aspect and for the financial benefits that will be possible. At that time they are said to relaunch their platform for funding.
They have given thanks for everyone’s support and say things like thank you for support and understanding and patience. And hope that everyone involved will do well. Also, anyone who invested into the Modulum ICO is going to be completely refunded on December 13th. The smart contract is said to be sent via email. It’s likely that this is the last we will see of Modulum.
Modulum ICO Conclusion
While Modulum seemed to be a great idea, where you could join a pre-existing network, build your own or use it strictly for web services, the Modulum ICO has been halted. As of now there isn’t much of a point in talking about the current state of Modulum or where it will go.
As long as funding has ceased, then the company is basically dead in the water. Especially since they are actually going to refund everyone who has already invested into the company. It’s a sad thing, but something all to common in this emerging market.
There are dozens of cryptocurrency and blockchain based platforms being released every day. It just gives one more reason to be careful before investing into any new system or platform that is claiming to be the best.