ADAMANT Messenger

ADAMANT Messenger
ICO date: 30.01.2018 - 30.06.2018
Description:

ADAMANT is positioned as the most private messenger possible. It is a p2p messenger that works on blockchain to ensure the highest level of security for the users.

How it works:

ADAMANT is a messenger that provides absolute anonymity for the users. It does not require private information like email or phone number for registration and is protected by Ed25519 EdDSA, Curve25519, Salsa20, and Poly1305 encryption schemes. The app doesn’t have access to user’s contact book, or location either.

Powered by blockchain, the messenger does not store any user data on their own device. The passwords, however, are not transferred anywhere from the users device. End-to-end encrypted messages cannot be read by a third party, developers included. Another positive side of using blockchain is that message history doesn’t take any space on the user’s device, and is uploaded directly from blockchain.

The code is open source, so anyone can check it themselves to be sure in ADAMANT’s trustworthiness.

ADAMANT offers features that will interest businesses as well. This includes blockchain document transfer and signing and sending cryptocurrency via a chat.

Innovation:

ADAMANT is not highly innovative. We have already seen blockchain messengers and some now have an established and growing user base. Nevertheless, its security protocols and a couple of other features grant it a medium mark.

Innovation score: Medium

Token value:

ADM token doesn’t act as a share and doesn’t entitle holders to a part of distributable income of the company.

Its value is ensured by the fact that all transactions have a small fee that the users has to pay, so the amount of daily ADM transactions will increase enormously with the growth of the user base.

ADAMANT introduces the “ADAMANT Growth” feature, thanks to which, all wallets that hold more than 10 ADM will grow 5% a month. The source of this growth is unsold tokens. Naturally, it will eventually stop, but it is a nice little bonus to have nonetheless.

The token can be mined, but there are several restrictions to that

Token value score: Medium

White paper:

The white paper of ADAMANT is well put together. It features general information about the concept, technical details that are key to the messenger and covers financial aspects. It also explains how adoption and promotion of the project will be executed. A comparative competition analysis is shown in the white paper as well.

White paper score: High

Roadmap:

The team has already started working on the messenger. As of today, they have ADAMANT Wallet and Messenger and ADAMANT Blockchain Explorer. Not all features are fully implemented yet.

In the second quarter of 2018 ADAMANT plans on releasing iOS app and extending messenger functionality. For the second quarter of 2018, the team will introduce ADAMANT Business Service with the ability of digital signing and release Android app.

Roadmap score: Medium

Business model:

The functioning of the platform will be supported by charging fees for in-platform transactions. This will include business transactions like document or token transfer or signing a document, and user transactions as well. This means transferring messages, creating and closing chats and saving contacts will have a fee too.

While this seems like a profitable model, it is unclear whether a lot of people will be drawn to a messenger that charges fees for things that are free in other, less secure ones.

Business model score: Medium

Team:

ADAMANT team has 20 members, some of them are presented on the site and in the white paper. The CEO of ADAMANT is presented as an executive and innovator in IT and financial projects who has an MBA degree. Lead developer has over 15 years of experience in managing IT projects.

The advisory board, however, is not as impressive as it does not feature international figures, only local experts.

Team score: Medium

Competitors:

ADAMANT presents a competition analysis, and names WhatsApp, Facebook Messenger, Telegram, Signal, Connect.im, Dust and Ring, the biggest messengers, as their competitors.

Their analysis shows a comparison of the platforms’ anonymity and security characteristics. For instance, in ADAMANT, developers cannot decrypt your messages or block you, and you are not identified by your phone number.

However, the analysis fails to mention other aspects such as usability and other features that draw users to a particular messenger. The other thing it does not mention is the direct competition from other blockchain messengers like e-Chat and BeeChat.

Competitors score: High

Overall thoughts:

ADAMANT faces very strong competition. On the plus side, the market for blockchain messengers is only emerging, and we observe interest from users. Given proper execution and marketing, ADAMANT may find their own niche and prosper.

Website: Site
Whitepaper: Whitepaper

Overall Score

Medium

3 / 5

Risk score

NA

Crowdsale


ICO

ICO start date: 30.01.2018
ICO end date: 30.06.2018
Soft cap: 500,000 USD
Hard cap: 30,000,000 USD

TOKEN DETAILS

Ticker: ADM
Token price in USD: 2.94

Legal


ICO Platform: No
Registration Country: Ireland