Root Blockchain provides blockchain as a service for enterprise and retail customers. Find out how it works today in our review.
What Is Root Blockchain?
Root Blockchain, found online at RootBlockchain.io, provides blockchain as a service, or BaaS, using a hybrid blockchain for both enterprise and retail customers.
The platform sees itself as the “future of blockchain”. One of the unique things about Root Blockchain is that it’s entirely API driven, which means businesses can enjoy the benefits of blockchain technology without developing blockchain technology themselves. They can focus on API development: just connect the existing business to the Root API and you’re good to go.
The ICO for Root Blockchain tokens began on March 1. The company has not launched a beta platform, nor have they provided any technical details of their BaaS platform and how it works. Despite the complete lack of information about the project, the company is seeking minimum $200 investments during its ICO in exchange for “RootCoin” tokens.
What Problems Does Root Blockchain Seek To Solve?
Obviously, there are a number of companies currently offering blockchain as a service. What distinguishes Root Blockchain from the competition? What problems does the platform seek to solve? Some of the identified problems include:
Blockchain technology has clear benefits for businesses. However, it’s too complex for many businesses to ingrate into their existing systems. Some companies are simply too small to devote adequate resources to blockchain development. Even companies that have adequate resources will still struggle with blockchain technology because of its complexity and the difficulty of hiring certified blockchain experts.
Large Blockchain Size:
Today, blockchains like bitcoin are nearly 200GB in size, making it increasingly difficult and expensive to run a node.
Large Transaction Data Size:
Increasing transaction data sizes will lead to increased blockchain costs over time.
How Does Root Blockchain As A Service Investment Token Work?
Root Blockchain is an API-driven blockchain as a service (BaaS) that aims to offer flexible options for enterprise and retail customers.
The platform is actively in development. However, a beta version has not yet been introduced to the public.
Despite the lack of a public release, Root Blockchain is already holding its ICO – which seems a bit unusual.
Right now, the Root Blockchain website and whitepaper feature hardly any information about how the platform works. The whitepaper is just 8 pages long – which seems odd for a BaaS platform.
The website and whitepaper feature a basic view of the organization of the Root Blockchain. There’s a picture of the Root Public Blockchain connected to the Root Engine, for example. That Root Engine provides digital notarization, HR verification, and copyright services. Other blockchains, including the Ethereum blockchain, consortium blockchains, and private blockchains, are also connected to the Root Engine.
Aside from this basic overview, we know nothing about how Root Blockchain works and what unique features it has over other BaaS platforms.
Root Blockchain ICO Details
The Root Blockchain ICO is selling tokens for $0.01 USD apiece with a minimum investment of $200.
The Root Blockchain ICO is going through three phases from March to May, 2018:
- Phase 1: March 1 to March 31
- Phase 2: April 1 to April 30
- Phase 3: May 1 to May 31
As mentioned above, the company is holding an ICO despite a complete lack of any information about the project or how it works. You’re being asked to send money to a team that has launched a basic 8 page whitepaper explaining their project.
In any case, 50% of the total funds raised from the token sale are being reserved for development and implementation. Remaining funds are dedicated to post ICO marketing and sales (25%), operational overhead (18%), and a reserve fund (7%).
Of the total supply of tokens, 72% is being distributed during the public crowdsale. Remaining tokens are allocated to the team (14%), initial investors (10%), and bounties (4%).
Who’s Behind Root Blockchain?
Root Blockchain is in development by a New Delhi-based team. Key members of the team include Girish Kumar (Co-Founder) and Neeraj Tiwari (Co-Founder).
Kumar’s previous experience includes work as co-founder of Loginology, a New Delhi-based tech company, and work as a tech lead and product specialist at Indian tech companies dating back to 2007.
Tiwari, meanwhile, has 11 years of experiencing developing software for various IoT, web, and blockchain projects.
Other listed members of the team include Ray Naicker (VP of Marketing), Ken Taylor (COO), and Animesh Sharma (Communications Lead).
Root Blockchain Conclusion
Root Blockchain is asking you to pay $200 for its “RootCoin” tokens today. Your minimum $200 investment will get you 20,000 RootCoin tokens at a price of $0.01 apiece.
There’s an overall lack of information about Root Blockchain available online. There’s no information about the technical architecture of the company’s blockchain as a service (BaaS) platform, for example. The whitepaper is just 8 pages long and provides no specific details about the project or its goals. The team vaguely mentions focusing on “enterprise and retail customers”, but it’s unclear how they plan to differentiate themselves from other BaaS providers in that space.
In any case, you can decide if Root Blockchain is worth an investment today by visiting the company online at RootBlockchain.io.