Is Insight Chain (INB) A Good Investment? In-depth Analysis and Near to Longer-Term Expectations

By CryptoBoomer | Investments | 9 Dec 2019


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The blockchain space has been making massive progress in the past few years. The same blockchain technology also has received plenty of praise from high profile figures, such as the Chinese president and IMF managing director.

However, there’s one big problem with blockchain that everybody knows. The blockchain space is very disorganized at the present time. Everything is a mess, most people don’t know who’s trading with who, and Insight Chain wants to make it much more organized. 

Thanks to their authentication system in a decentralized ecosystem, Insight Chain believes it can finally make blockchain to be appealing enough for the mainstream world. Using their own words, Insight Chain is trying to bring Big Data into public blockchain with infinite scalability.

So, is it worth it to invest in Insight Chain token in the long-term? Let’s find out more about their technology, fundamentals, and other factors that can potentially affect the token price.

Insight Chain - Summary

Insight Chain began as one of the newer Chinese cryptocurrency projects with little-to-no background information regarding how it all began. Insight Chain gained its fame in the mid and late 2018 when the coin suddenly got a high ranking position on CoinMarketCap.

Insight Chain team wants to make the blockchain world to be much more organized, to make it look more like “Wall Street” kind-of-way. As I have mentioned earlier, currently, there’s too much disorganization in the blockchain space. The average joes out there wouldn’t be able to tell who’s transacting with who and the identities of each wallet. 

Insight Chain believes this kind of mess has to be “organized” if people want to take blockchain finance seriously. To do this, Insight Chain introduces a system that they call “Authentication System.” 

In this Authentication System, all the involved entities or individuals must be able to prove their real identities; doesn’t matter who they are. Investors, analysts, companies, and even the media have to show their real names. 

Fortunately, Insight Chain uses a decentralized data trading system, so all these verified parties can still connect to the Insight Chain ecosystem without any centralized third party. They can simply transact by using INB tokens without any trust problem.

And in order to achieve their vision, Insight Chain uses its own unique consensus algorithm, which is Validated Delegated Proof of Stake (VDPoS). This consensus mixes three different algorithms (Delegated Proof of Stake, Validated Nodes concept, and Byzantine Fault Tolerance). 

The idea is to present the validates nodes into the blockchain through DPoS consensus. They are chosen on VRF random lottery, and the BFT (Byzantine Fault Tolerance) is used to verify secondary blocks.

In the future, the core developers will also introduce sharding technology to supplement their VDPoS mechanism. Insight Chain believes they can significantly speed up the blockchain with the combination of the multi-main chain and multi-child chain. 

Apart from sharding technology, Insight Chain will also introduce a new structural way to store business-related data on its blockchain specifically. Compared to more traditional blockchains where they usually can only store the data content, Insight Chain will make it easy for business people to “migrate” to the blockchain.

It’s also believed that the business data in Insight Chain will be able to be encrypted and decrypted quite easily.

If everything is done properly, Insight Chain should be able to get faster than 100,000 transactions per second. This will please Insight Chain’s core audience because the Chinese blockchain community typically cares more about TPS than other things.

Analyzing Insight Chain Team

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Before you know whether Insight Chain token (INB) is worth your money for long-term investment or not, you need to analyze the core team first. It’s quite crucial because buying a cryptocurrency is also about having faith in the core team’s ability to deliver their promises.

So, how about the Insight Chain team? As I have written above, there’s little-to-no information about the team background, which is not very uncommon when it comes to the Chinese crypto team. However, the team put well-written information about themselves on Insight Chain team page.

Let’s start with the Chief Executive Officer. She is Lisa Yang, with 10 years of experience in market research data analysis. Lisa graduated from Fuzhou University and has created a retail business index of SCDI. She also wrote an authoritative industry report of China Mall Development Report. 

Apart from these impressive records, Lisa Yang also served for Standard Chartered, Deutsche Bank, and Goldman Sachs.

And then, we have Jason Ji, who acts as the Chief Technology Officer. Jason has ten years of experience in software research, software development, and software management. His prior job includes Samsung and Teradata. As for his blockchain experience, it is written that he has been working with the blockchain world for three years.

The CSO in the team is Lifeng Liu. He used to be the President and CEO of IPSOS, a market research company specialized in the case study. Lifeng Liu also got a Ph.D from Peking University. In terms of experience, he has 20 years of it in market research.

Don’t forget the Chief Operating Officer Charles Yan. He has experience in Standard Chartered, Yuanda Financial Holdings, and Macquarie Capital. With more than fifteen years of experience in financial analysis, his addition to the team surely helps a lot.

There are other members of the Insight Chain team that I haven't mentioned here, but overall, they are all great people with great experience in the business and market research industry.

From all these names, I think Insight Chain has a quite decent team, and they have big potential to pull it off.

Insight Chain Future And Potential Roadblock

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Insight Chain has a really bright future assuming they can fulfill their promises properly. Some of the technological features I mentioned earlier are still in the “development stage,” and nobody knows whether these things will become the next big blockchain breakthroughs (just like their promise) or will not perform as expected.

So, the bottom line is that Insight Chain might become one of the disruptive projects in the blockchain space if all the technologies they promise can be developed properly. Only time will tell whether they can do it or not.

And Insight Chain is also targeting more specific use-cases rather than just trying to be an all-in-one platform like so many other Chinese crypto projects. This is a good sign in itself. Focusing on bringing a big data ecosystem into a public blockchain environment is a good thing and keep the right focus in one place.

The potential roadblock for Insight Chain is if they fail to achieve people’s expectations. At the current state, most of the main ideas or selling points of Insight Chain are still being developed. When they are deployed on the main net, we will see how good they actually are.

Another potential roadblock is their lack of marketing efforts. While Insight Chain has been doing decently in some Asian markets, but overall, they don’t have much presence globally. Insight Chain needs to get much bigger exposure when they launch their main net in order to attract attention from corporate entities and other businesses.

External Factor And INB Price

Insight Chain’s native crypto token is called INB. And while knowing about Insight Chain’s technology and the core team is important to find out more about INB potential, but unfortunately, there is one external factor that you need to learn before you invest in the token.

First and foremost, the biggest external factor is called Bitcoin price. It’s no secret that altcoin prices are almost always affected by Bitcoin price action. In the world of crypto, majority of altcoins will only go up significantly when Bitcoin price also goes up. 

The opposite scenario is also true. When Bitcoin price goes down, altcoin prices go down even harder. INB price will not be an exception. INB price will be affected by Bitcoin price action.

And talking about Bitcoin price, 2020 will be an interesting year. In the middle of the year, there will be a new Bitcoin mining reward halving event. Many analysts predict cryptocurrency prices will go up a lot following this halving event, just like in 2016.

However, many other analysts predict the exact opposite. They believe the early and mid-2019’s Bitcoin price jump was due to everybody trying to get in before the 2020’s halving. And for that reason, we won’t have another price jump in 2020.

Either way, it’s quite important to pay attention to Bitcoin price movements, especially in 2020. It will certainly affect INB price.

Conclusion

Insight Chain is a decent project with a strong team profile. However, they could have done better with their marketing and branding efforts outside the Asian markets. And whether they can fulfill their supporters’ expectations or not, only time will tell. Mainnet date is close, and we will see if it will be as “superior” as its promises.

Overall, investing in INB token is not a bad idea, although there are more promising projects out there.

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CryptoBoomer
CryptoBoomer

Always DYOR :)


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