Elementh

Elementh is a blockchain for e-commerce

About Elementh

Elementh is a platform designed for decentralized applications that target e-commerce. The main goals of Elementh are to create a system that enables standardized nomenclature for products, guaranteed product ownership, product tracking, and counterfeit detection. EEE tokens will be used for transactions in the Elementh ecosystem.

Token Sale Use of Blockchain

Product

3.4
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

4.0
N/A
4 - Few competitors / a leading solution.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.

Product

There are quite a few blockchain-related projects targeting eCommerce. There is a section of the whitepaper that briefly discusses Elementh’s competitors. It is emphasized that Elementh is an infrastructure project as opposed to a niche product/application. Elementh aims to set a new nomenclature standard and implement their system of goods. Thus, the target user base is widespread. The use cases for Elementh span any online marketplace. It is stated that the aim of the organization is “to create [a] unified product classification standard and a platform allowing for quick setup and scaling of e-commerce projects”. The GitHub page is provided on the Elementh website and shows high levels of activity and content. There is an MVP available through the website and GitHub page. The GitHib page also contains repositories for Elementh’s blockchain solution (it is stated that the current state of the “code is currently alpha-quality”).

Product Whitepaper

Use of Blockchain

3.2
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

3.0
N/A
3 - Automation; making something easier to do.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

3.0
N/A
3 - Issuing a custom token is justifiable.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

4.0
N/A
4 - Mostly decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

3.0
N/A
3 - Interesting.

Use of Blockchain

EEE is an ERC20 compliant token. It is stated that DPoS will be used as the consensus protocol and that the EOS fork is given priority with regards to the blockchain solution. Due to the large amount of data, Elementh states that sharding will be applied to the platform and used. More content should be provided with regard to the use cases and value proposition of the EEE token.

Use of Blockchain Roadmap

Whitepaper

3.8
Whitepaper
Comprehensiveness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

3.0
N/A
3 - More information required.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.

Whitepaper

The whitepaper is hosted on Elementh’s GitHub page and is moderate in length. The technology plan is presented with high levels of detail. A number of figures are used to convey technical information. A multitude of development layers are discussed, along with the components of each layer and how the components operate with one another, giving a thorough overview of how the platform will work from a technical perspective. The business plan is presented with moderate levels of detail. There is market research presented in the document, as well as a discussion regarding Elementh’s competitors. However more content could be provided discussing the value proposition and use cases of the EEE token.

Whitepaper Compliance

Roadmap

2.8
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasiblity

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

3.0
N/A
3 - A trend with potential.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

3.0
N/A
3 - Imperfect but available, or using substitutes.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.

Roadmap

The roadmap presented on the Elementh website spans from 2012 to 2019 and contains low levels of detail. Milestones reached thus far are primarily focused on the achievements of Mixx, the parent company of Elementh. Milestones relating to the development of the platform begin in June 2018, when the alpha version of the blockchain base layer is planned to be launched, followed by the abstraction layer in August 2018. The wallet and blockchain explorer are planned to be released in December 2018 and the API in February 2019. In March 2019, Masternodes and DAPPs are planned to be released.

Roadmap Company and Team

Compliance

2.4
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

2.0
N/A
2 - Minimal or contrived.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

2.0
N/A
2 - Minimal, superficial or hackneyed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

2.0
N/A
2 - Insufficient or unprofessional.

Compliance

The whitepaper contains a short discussion regarding legal considerations (approximately a quarter page in length). It is explicitly stated that EEE tokens are not to be considered securities. EEE tokens are used to pay transaction fees within the Elementh ecosystem. The language of the short disclaimer section is fairly professional, albeit quite brief.

Compliance Token Sale

Company and Team

3.4
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

2.0
N/A
2 - Somewhat skewed.

Company and Team

Elementh is a non-profit organization based in Singapore. The parent company, Miix, has been in operation since 2007. The team of 9 individuals (and 4 advisors) are listed on the Elementh website, along with their profile pictures, short descriptions and links to social media profiles. The skill set of the team is focused towards technology as opposed to business development. There are individuals on the team that have professional blockchain-related experience. One of the blockchain developers is the developer of Hitbtc and the three founders have professional experience with e-commerce.

Company and Team Product

Token Sale

3.0
Token Sale
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

3.0
N/A
3 - Justifiable.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

3.0
N/A
3 - Justifiable.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

3.0
N/A
3 - Rough estimates, but sensible.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

2.0
N/A
2 - Minor exposure and interest, or ambivalent reception.

Token Sale

The total number of EEE tokens is 303 million (71.78% will be sold during the ICO, 14.85% is for the team, and 13.37% is for partners and advisors). Tokens allocated to the team and the advisors have a vesting period of 6 months. The allocation of funds is described with fairly high levels of detail (50% is for technology development, 35% is for business development and marketing, 10% is for reinvestment, and 5% is for daily operation). Each item on the fund allocation table is accompanied by content further detailing the expenses involved. The soft cap is 10,000 ETH and the hard cap is 30,000 ETH, where 1 EEE = 0.0002 ETH. The token sale takes place on April 1, 2018.

Product

There are quite a few blockchain-related projects targeting eCommerce. There is a section of the whitepaper that briefly discusses Elementh’s competitors. It is emphasized that Elementh is an infrastructure project as opposed to a niche product/application. Elementh aims to set a new nomenclature standard and implement their system of goods. Thus, the target user base is widespread. The use cases for Elementh span any online marketplace. It is stated that the aim of the organization is “to create [a] unified product classification standard and a platform allowing for quick setup and scaling of e-commerce projects”. The GitHub page is provided on the Elementh website and shows high levels of activity and content. There is an MVP available through the website and GitHub page. The GitHib page also contains repositories for Elementh’s blockchain solution (it is stated that the current state of the “code is currently alpha-quality”).

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

4.0
N/A
4 - Few competitors / a leading solution.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.
Product Score:
3.4

Use of Blockchain

EEE is an ERC20 compliant token. It is stated that DPoS will be used as the consensus protocol and that the EOS fork is given priority with regards to the blockchain solution. Due to the large amount of data, Elementh states that sharding will be applied to the platform and used. More content should be provided with regard to the use cases and value proposition of the EEE token.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

3.0
N/A
3 - Automation; making something easier to do.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

3.0
N/A
3 - Issuing a custom token is justifiable.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

4.0
N/A
4 - Mostly decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

3.0
N/A
3 - Interesting.
Use of Blockchain Score:
3.2

Whitepaper

The whitepaper is hosted on Elementh’s GitHub page and is moderate in length. The technology plan is presented with high levels of detail. A number of figures are used to convey technical information. A multitude of development layers are discussed, along with the components of each layer and how the components operate with one another, giving a thorough overview of how the platform will work from a technical perspective. The business plan is presented with moderate levels of detail. There is market research presented in the document, as well as a discussion regarding Elementh’s competitors. However more content could be provided discussing the value proposition and use cases of the EEE token.

Category Breakdown
Comprehensiveness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

3.0
N/A
3 - More information required.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.
Whitepaper Score:
3.8

Roadmap

The roadmap presented on the Elementh website spans from 2012 to 2019 and contains low levels of detail. Milestones reached thus far are primarily focused on the achievements of Mixx, the parent company of Elementh. Milestones relating to the development of the platform begin in June 2018, when the alpha version of the blockchain base layer is planned to be launched, followed by the abstraction layer in August 2018. The wallet and blockchain explorer are planned to be released in December 2018 and the API in February 2019. In March 2019, Masternodes and DAPPs are planned to be released.

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasiblity

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

3.0
N/A
3 - A trend with potential.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

3.0
N/A
3 - Imperfect but available, or using substitutes.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.
Roadmap Score:
2.8

Compliance

The whitepaper contains a short discussion regarding legal considerations (approximately a quarter page in length). It is explicitly stated that EEE tokens are not to be considered securities. EEE tokens are used to pay transaction fees within the Elementh ecosystem. The language of the short disclaimer section is fairly professional, albeit quite brief.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

2.0
N/A
2 - Minimal or contrived.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

2.0
N/A
2 - Minimal, superficial or hackneyed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

2.0
N/A
2 - Insufficient or unprofessional.
Compliance Score:
2.4

Company and Team

Elementh is a non-profit organization based in Singapore. The parent company, Miix, has been in operation since 2007. The team of 9 individuals (and 4 advisors) are listed on the Elementh website, along with their profile pictures, short descriptions and links to social media profiles. The skill set of the team is focused towards technology as opposed to business development. There are individuals on the team that have professional blockchain-related experience. One of the blockchain developers is the developer of Hitbtc and the three founders have professional experience with e-commerce.

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

2.0
N/A
2 - Somewhat skewed.
Company and Team Score:
3.4

Token Sale

The total number of EEE tokens is 303 million (71.78% will be sold during the ICO, 14.85% is for the team, and 13.37% is for partners and advisors). Tokens allocated to the team and the advisors have a vesting period of 6 months. The allocation of funds is described with fairly high levels of detail (50% is for technology development, 35% is for business development and marketing, 10% is for reinvestment, and 5% is for daily operation). Each item on the fund allocation table is accompanied by content further detailing the expenses involved. The soft cap is 10,000 ETH and the hard cap is 30,000 ETH, where 1 EEE = 0.0002 ETH. The token sale takes place on April 1, 2018.

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

3.0
N/A
3 - Justifiable.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

3.0
N/A
3 - Justifiable.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

3.0
N/A
3 - Rough estimates, but sensible.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

2.0
N/A
2 - Minor exposure and interest, or ambivalent reception.
Token Sale Score:
3.0

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