Seele ICO: Neural Consensus Algorithm Blockchain Scam?
The introduction of bitcoin gave us a whole new transaction ledger. Fast forward to now, and most of the blockchain innovation is fast surpassing the original Bitcoin. The bitcoin initiative is now dubbed blockchain 1.0. Ethereum followed suit, and now we refer it to as blockchain 2.0. The less accessible blockchain 3.0 comprises of EOS, Cosmos, and DFINITY. This classification represents the different generation of the blockchain technology. But it does not end there. There is now a fourth generation of blockchain that most crypto enthusiasts are yet to hear.
What Is Seele?
The upcoming project is known as Seele and is set to revolutionize and advance the blockchain industry. Whatever you see Bitcoin and Ethereum doing, expect Seele to do it much better and faster. There are problems that the existing blockchain experience due to a high number of nodes which ultimately affect the consensus. That is contrary to the spirit of large-scale collaboration among individuals and organizations. However, Seele plans to overcome this problem with a proposed neural consensus algorithm that has exceptional scalability.
How Seele Neural Consensus Algorithm Blockchain Works
As aforementioned, the Seele platform is set to utilize the neural consensus protocol for a high concurrency between different nodes. As a result, the platform's network forms a mixed and multi-chain forest ecosystem. Each forest will apply to the relevant business with each cohesive company set to run in a single chain. The heterogenous blockchains will provide a platform and subnet for different or similar services and enterprises. Such a design will help provide security isolation and resource optimization within the network. Additionally, the cross-chain access ability will result in a low-cost transfer for users.
On the other hand, the blockchain 4.0 project will feature a faster cross-chain, consensus and transaction confirmation. The project will further provide an ecosystem comprising architecture, technologies, applications, and resources for all users worldwide to develop a faster and higher information and collaboration platform for a more efficient society.
Seele ICO Considerations
For a project starting out, Seele has begun its journey on the wrong foot. Apparently, the potential of the project was an attraction for scammers who managed to dupe nearly $1.8 million. The official ICO is yet to take place, and already such a situation is happening. This is a red flag for any investor since failure to protect the platform's integrity at such an early stage is an indication of future failure.
Additionally, the scamming incidence put more suspicion on Seele becoming another crypto Ponzi scheme. Occurrences of cryptocurrency and ICO scams are not rare in the blockchain world. That would not be the first time such a project would turn out that way. It is wise always to take caution whenever looking for an ICO to invest.
Although Seele bills itself as blockchain4.0, there is still much to desire. The project is far from making any substantial as most of its goals are yet to be laid down. Furthermore, the project is still under preliminary tests in the development phase. As of now, everything about Seele is only good on paper. Only time will tell if Seele will turn out to be a viable project. All-in-all, the Seele project is relatively new and would not be a good investment if you are in search of a project with future potential in the crypto world.