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Proof of Review: Sentivate

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Sentivate

Sentivate Proof of Review

Disclaimer: This review is intended for educational purposes and should not be considered as financial advice. Before investing into any project we recommend you do your own research and consult a registered financial advisor.

ABOUT

Overview 

The Sentivate project is a hybrid internet built with the aim to be a viable & realistic replacement for the modern web. The team have identified the current problems faced by the growth of internet users alongside the demands this brings. The aim is to provide a solution which is faster, safer, & more scalable than any solely centralized or decentralized web infrastructure currently available.

Use Case

The main use case for the Sentivate project is intended to solve the issue of network congestion and bandwidth crisis currently faced by the worlds internet users.

Bandwidth Problem

Bandwidth is defined as the amount of data that can be transmitted in a fixed amount of time. The current infrastructure for Bandwidth is facing a looming crisis with the ever-growing number of users on the internet consuming more and more data across a multitude of devices including mobiles, cars, games consoles etc [ref].

The current infrastructure was not designed to be able to handle the growing demands placed on it and the impacts can be both social and economical. It is reported that in 2009, Amazon found every 100ms of latency cost them 1% in sales [ref]. A further study in 2012 [ref] shows how a 1-second delay on a page loading could cost Amazon $1.6 billion in lost sales each year. Fast forward 10 years with the growth of more users with more devices and the problem has only got worse.

User’s demands have changed and the requirements of the web have grown. These changes make HTTP a major bottleneck. The HTTP standard itself and TCP are both huge issues. 

Large data centres moving copious amounts of data from one end-point to the other have latency and cost issues associated with outdated Internet architecture. 

HTTP is especially problematic when users are experiencing low throughput, limited bandwidth, degraded network connectivity, or requiring a near real-time response.

Current Protocol

The current internet infrastructure is built on the HTTP and DNS protocols [ref]

HTTP

User’s demands are becoming more and more time-constrained. They expect instant gratification in milliseconds. As technology advances the expectations of the services we use increase. A modern web application utilizes both HTTP and WebSockets. Developers need to push all mission-critical assets to their client in under a second and set up a real-time stream for further live updates. Applications will be opening and closing multiple connections throughout their life cycle. 

DNS

HTTP costs companies time and money but that’s not the only problem. DNS can drastically speed up the efficiency of connections. Our DIS provides cryptographic parameters in addition to traditional routing information in the form of a verifiable certificate. The DIS can return all this required data at a single point in time to establish a 0-RTT connection. In today’s web, a client must have visited a website before it could establish a 0-RTT connection on the next visit. This small feature eliminates drastic amounts of needless packets and bandwidth. Little things on a grand scale have drastic implications on network congestion, performance, overhead, user experience, and profits.

Another long-standing issue with DNS is its lack of trust and lack of consensus. We can see DNS servers go rogue, be used to censor speech, operate unencrypted, and compromising its users. DNS has a multitude of security issues and a drastic lack of features. Sentivate’s replacement of DNS is called a Domain Information System. The DIS returns a full cryptographic certificate with all required details to establish a connection in addition to other secondary certificates if requested. For those looking to dive into the technical issues with DNS, we suggest first reviewing the Minimalt papers.

Sentivate Solution

Sentivate proposes to solve the issues faced by the current internet architecture with the construction of a universal web. The first step in the construction of the Universal Web is to replace HTTP and TCP entirely with Universal Data Stream Protocol (UDSP).

What is USDP

USDP is a UDP based low-latency, real-time, bi-directional, encrypted, and reliable Data Transport Protocol. On the Universal Web all communication, streaming, or transferring of any type of data utilizes UDSP. When visiting a site on the Universal Web UDSP is the protocol used instead of HTTP. Specific UDSP client and server modules are required to visit or host a website on the Sentivate Network. 

UDSP is the foundation and lifeblood of the Sentivate Network [ref]

Technology behind USDP

UDSP is capable of dynamic reliability on a connection level, or on a per-request basis which is agreed upon between the involved parties. UDSP enforces encryption which means all UDSP connections are encrypted by default, no exceptions. UDSP supports IPv6, Multiplexing, and Multihoming. UDSP relies on cryptographic key pairs and XChaCha20 to establish a connection.

UDSP prioritizes the real-time web and Dispersed Computing. Since connections are bi-directional streams and less chatty this makes the network less clogged and ensures low-latency for the livelihood of the connection. UDSP is far less chatty than HTTP and can be programmatically set to adjust its own reliability standards. This makes UDSP a highly useful protocol where high-throughput, low-latency and high reliability are required. Due to UDSP’s programmatically dynamic nature, it’s efficacious in situations of highly variable and or degraded network connectivity.

UDSP has optional puzzles included in the packets which allow providers and solvers to earn VIAT. Puzzles can vary and thus the puzzles are a Dynamic-Proof-of-Work. The puzzles may be encapsulated or point to data that is required for solving the puzzle. This functionality will be described in the next white paper for VIAT. The puzzles also function as congestion control and a way to limit the potential damages from DDOS attacks. Sentivate turns a typical DDOS attack into profit by the introduction of various puzzle types into packets. When a client solves the served puzzle the client and domain are credited by the network with Viat. If a server is under DDOS attack then the server can dynamically change the reward split up-to 100% for the domain. This ensures the attackers suffer more financial loss and have little to gain. Puzzles ensure that both parties have an incentive to act in good faith.

Products/Features

On top of the USDP protocol, the universal web that Sentivate is developing will also include the following core features and products [ref]:

Universal Identity System

There are two core components of the Identity System. 

The first is the Identity Registrar which signs certificates & is the first layer of protection for the network.

  •  The Identity Registrar validates and keeps a record of active certificates on the network. 

The other component is Identity Certificates which is like a passport and a form of identification on the Internet. 

  • Your Identity Certificate allows you to instantly signup, login, and or purchase an item. It also removes the need to create a username or password. 
  • Using key pairs instead of a traditional username and password relies on cryptography for enhanced privacy and security. Sentivate keypairs act as your identity for the internet.
Universal Domain System

There are three main components to the Universal Domain System which are:

  1. Domain Registrar
  2. Domain Information System
  3. Domain Certificates

The Domain Registrar provides services to register & manage domains. The Domain Registrar also provides the Domain Information System with real-time domain information. Any changes to a domain such as ownership, routing, or cryptography will automatically notify the DIS. Another important feature of the Domain Registrar is signing domain certificates.

The Domain Information System hosts all domain certificates and serves them on request. Clients send requests to the DIS to retrieve a domains routing information and cryptographic details in order to establish a UDSP stream. The Domain Information System takes in a hostname and responds with the corresponding certificate.

Domain certificates provide hostname routing and cryptographic details. Clients use a D.C. to establish a UDSP stream with a destination domain.

Hybrid apps (hApp)

Hybrid Apps are self-constructing streamed single-page-applications. Applications are designed in a highly modular fashion. Application’s assets are contained in their own file and are streamed to the client on an as needed basis. Only exactly when the client needs the resource is it fetched and delivered. 

Sentivate’s components allow for highly module asset streaming. For example, components can share the same CSS or HTML assets which ensures shared assets are only downloaded once and the duplicate code is never sent over the wire. Server loads and bandwidth is drastically decreased with this methodology as now the client is only pulling exactly what is needed.

Hybrid Apps can utilize an opt-in decentralized P2P CDN for assets in addition to other centralized CDN services. Making use of a Hybrid Content Delivery Network means that hybrid apps have high availability, scalability, and more bandwidth for real-time dynamic content.

All the benefits of centralized systems & decentralized networks provide hApps with the highest scalability potential. hApps are built using reactive, dynamic, and modular development methodologies. hApps are streamed and built over time much like a bridge building itself as you walk across. Only one initial page load takes place and thereafter pages are dynamically built as needed similar to Single-page-apps.

Adoption

The scope for adoption for the Sentivate project is huge, with an estimated 4.33 billion internet users across the globe. The proposed solution of a universal web would mean that current infrastructures are changed and new ones implemented so it is likely to be a long term adoption curve for the project. 

Currently, there is no minimum working product so there is no current adoption amongst users for the proposed Sentivatel product and protocol. The main-net is estimated to be launched in 2020/21. 

However, we can gauge adoption sentiment for the project from the SNTVT token distribution and community engagement later in the review.

Competition

There is no direct competition within the cryptocurrency industry proposing to use the same protocol and features as Sentivatel to resolve the same issues. As such this gives Sentivate a competitive advantage at this moment in time within this industry.

It must be noted that solutions to the internet infrastructure problems are likely in current discussion, implementation and development amongst governments and corporations. However, the global implementation of a project this scale will likely take a significant period of time. 

COIN METRICS

There are 2 tokens available within the Sentivate ecosystem which are SNVT and VIAT.

SNTVT

Token Info 
SymbolSNTVT
Decimals18
Contract Address0x7865af71cf0b288b4e7f654f4f7851eb46a2b7f8
Block ExplorerEtherscan
Token TypeERC-20
NetworkEthereum
Max Token Supply4,200,000,000 SNTVT
Token Swap Info1000 SNTVT : 1 VIAT
Token Distribution
Sentivate Token Distribution
  • There was a maximum of 4,200,000,000 SNTVT tokens created and these were distributed as above. 
Circulating Supply
  • The current circulating supply is shown below and indicates that the team are currently holding over 67% of the supply between the top 2 addresses.
  • The team wallet is held at 0x0556ea4d4052f045d90744fbfc181726d2fd2481 and locked until after the swap to VIAT tokens. 
  • There are a total of 3783 SNTVT wallet holders indicating the interest in the project amongst investors in the crypto space.
Sentivate Distribution
SNTVT Utility

The team plan to swap the SNTVT token in the future to the VIAT token. Until then the SNTVT token currently has several utility functions:

  • Those holding SNTVT will be able to gain early access to the network and tools.
  • Each SNTVT token is a vote that can be cast to push the project in a certain direction and vote on important issues, giving the project a governance model with its community.

VIAT

Token Info 
SymbolVIAT
Block ExplorerN/A
TypeHybrid POW
Max Token Supply42,000,000 VIAT
Token Swap Info1000 SNTVT : 1 VIAT
Token Distribution
Sentivate VIAT Distribution
  • The VIAT token will be swapped with the Sentivate token soon after the main-net is launched (estimated 2020/21), at a rate of 1000 SNTVT per 1 VIAT.
  • 4.2 million VIAT will be distributed via the swap and the remaining VIAT supply will be released via Proof of Work emissions.
VIAT Utility
  • Viat will be the native cryptocurrency for the Sentivate network and utilizes a hybrid blockchain (ref].
  • Viat’s core systems are decentralized focused but enhanced by centralized components (the opposite of Sentivate’s Web). 
  • Viat is designed to be fast, secure, and have some of the lowest transaction fees available. 
  • Viat’s centralized portions can process instant transactions, provide wallet security, and alleviate network congestion when the decentralized network is under heavy load. 
  • However, these centralized features are opt-in only allowing users to forge their own path.
VIAT Mining 
  • Viat has a dynamic proof of work which can be mined in two ways. 
  • Direct mining is the main method, which will be explained in the Viat white paper, & the second method is through the use of packet puzzles in UDSP. 
  • Packet puzzles allow for passive mining of Viat while browsing the Universal Web. However, it’s not enabled by default. 
  • The situations which arise that enable packet puzzles are: upon connection handshake, connection liveliness check, DDoS protection, congestion control, and or the service chooses to enable it for their own reasons. It is up to the service to enable packet puzzles. 
  • This ensures that there is no need for constant mining in the background and gives real purpose to the mining process. Otherwise, it would be on all the time-sucking up resources & eating into battery life.
VIAT Interoperability
  • Identity & Domain certificates also double as Viat wallet keys. This allows users to not only instantly sign into a service during a connection handshake, but also provide a way to purchase goods from services, tip sites, and or refund clients.
  • Viat is an integral part of the full functionality of the Universal Web without it only part of the picture is there.

TEAM

Company and Funding

The Sentivate project is part of a parent company Arity [ref] which was founded in 2014 and is registered in the United States. The Arity team consists of 6 team members, all of who are team members or advisors on the Sentivate project.

There was no public fundraising for the Sentivate project via a token sale. The funding for the project has been raised via private sales, however, there is no public information on any funds raised. 

There is also no public information on the financials for the management/costs of the project however this is not uncommon for projects in this space.

The Sentivate token was distributed via a series of airdrops, with 25% of the SNTVT 

Experience

As stated on the project website, there are currently 3 founding members of the project, 6 advisors and 9 core team members. The team has a wide range of roles including developers, business development officers, community leaders and admin staff [ref].

A look into the team’s experience indicates that all of the co-founders have been part of the parent company Arity since 2014. 

Matt is listed as having a bachelor’s degree in Finance. Tom has no academic qualifications listed on his LinkedIn profile. During our interview with him, he was highly articulate and skilled with his level of technical knowledge about the product and market that Sentivate is targeting. 

The remaining co-founder Lew, comes from a military background and is also the CEO of several other projects including a Cybersecurity firm.

The remaining team members, 7 out of 8 have their names and LinkedIn profile listed. 

Advisors/Partnerships

There are 6 advisors listed on the project, which include 2 founders of the Arity project, Jamie Linkowski and Robert Brunelli.

Development 

Looking at the roadmap for the project gives us an insight into the development taking place and milestones achieved. The roadmap listed on the project website is clear, concise. A positive is that the roadmap is updated every 3 months and lists the objectives for the 3 months ahead [ref].

According to the listed roadmap all listed milestones were achieved to date. The upcoming milestones listed for June and July are:

  • Universal Domain System
  • Universal Identity System
  • Web Browser

The milestones listed above are key elements of the Sentivate project. The team are working hard to ensure that they are on target to be delivered, with a demo of the web browser available here

Project Growth

The growth of the project is key to the success of the project and aside from development on the project, the team are actively marketing and promoting Sentivate as they come closer to the launch of their core products listed above. 

It is anticipated that the upcoming developments and achieved milestones, will lead to a new stage in the growth of the project. It is also noted as a positive that the VIAT token will be a hybrid Proof of Work token, opening new avenues of growth amongst the mining community.

The Sentivate core team has grown from a core of the 6 Arity team who started the Sentivate project, to a team consisting of 18 staff. 

CODE REVIEW

For the purposes of this review, the Sentivate team requested an audit on the smart contract for the Sentivate Token (SNTVT). The results are provided in our full report here.

In this report, we have concluded about the security of Sentivate Smart Contract [ref]. The smart contract has been analysed under different facets. 

The audit found that the Sentivate smart contract adapts a very good coding practice and has a clean, documented code. 

The Smart Contract logic was checked and compared with the one described in the whitepaper and no discrepancies were found.

COMMUNITY

Users

The Sentivate project has numerous channels of communication which are:

  • Telegram 17,268 members
  • Discord 1839 members
  • Twitter 9569 followers
  • Medium 66 followers
  • Youtube 159 subscribers
  • Reddit 807 members 
  • Facebook 1411 members

Community Engagement

The majority of the Sentivate community involvement and engagement takes place on Telegram, Discord which is healthy as it allows for 2-way conversations between the team and community. 

Both platforms have daily activity in the chat and admin/mods are engaged with any questions from the community replying in a timely manner, often replying immediately.

Analysis of the Twitter channel shows a rating of 34.8 engagement per tweet according to RivalIq rating. This is 725 times higher than the average engagement rate across all industries [ref].

Governance

The Sentivate team are keen to involve their community and as mentioned earlier, each SNTVT token is a vote that can be cast to push the project in a certain direction and vote on important issues. By issuing the token as airdrop, its seen as a positive that all token holders will have a vote.

TECHNICAL ANALYSIS

Chart

For analysis purposes, we used both ETH and USD charts for analysis.

SNTVT/ETH

SNTVT Ethereum Chart
  • ATH in ETH is 0.00002694 Ethoshi
  • ATL in ETH is 0.000000460 Ethoshi
  • Highest ETH trading volume day is 6th July 2019

SNTVT/USD

SNTVT USD Chart
  • ATH in USD is 0.00374c 
  • ATL in USD is 0.000056c
  • Highest USD trading volume day is 6th July 2019

Exchange Listings

Sentivate is currently listed at the following exchanges:

  • LAToken
  • STEX Exchange
  • IDEX
  • LA Token offers BTC, ETH and USDT pairs.
  •  currently only available for trading as an ETH pair on IDEX and STEX.

24 Hour Trade Volume 110,317 

SNTVT Exchange Listings

Liquidity

As shown above with the trading activity, the majority of the liquidity is available on IDEX and STEX exchange. 

A quick analysis of the Etherscan block explorer shows the activity of the IDEX exchange addresses, indicating that 155,997,442 SNTVT or 3.7% of the supply are held at IDEX. 

SUMMARY OF SNTVT REVIEW

Following our in-depth review, the Sentivate project receives a B- Rating. 

Conclusion

  • We feel that Sentivate has a valid use case with a potential global market for its product. 
  • The huge scale of the implementation of the product means that this is likely to be a long term project and/or investment.
  • Based on this, it is likely that the team will need to grow significantly over time to develop, implement and market the Sentivate product/brand. 
  • There is a token swap in the future which could affect the financials for the project in terms of token price, market cap and token emissions. The POW emissions will make up for 90% of the future token supply.

About 

Positives ConcernsRating
-Real-world use case
-Global market
-No current competitor
-Product is in active development
-The adoption may take time
-The scale of implementing a new protocol for the internet is a huge task
B-

Coin Metrics

PositivesConcernsRating
-Token Utility within the Sentivate ecosystem
-Airdrop of the SNTVT token allowed no barrier of entry for users
-Governance model with the token
-Hybrid POW model for VIAT token allowing more adoption
-Token swap to VIAT
-Change in supply and the effect on price following the swap from SNTVT to VIAT


B-

Team 

PositivesConcernsRating
-Company registration and structure
-Wide range of skills and team members
-The parent company, Arity, was founded in 2014
-Milestones for development are being met
-The size of this project means the team will likely need to expand
-No information around project funding/runway costs for Sentivate
-Public information limited to core team members
B-

Code Review

PositivesConcerns Rating
-No security concerns around the SNTVT contract audit.
-The team requested an audit of the contract
-The team have requested an audit of POW code once the VIAT blockchain is released
-None B+

Community

PositivesConcernsRating
-High level of users and engagement
-Organic growth in users with airdrop
-Governance model allows token holders to vote
-NoneB+

Technicals

PositivesConcernsRating
-Listed on more than 1 exchange
-Undertaken one market cycle for analysis purposes
-Main markets are ETH based, could do with more base pair markets
-Token swap will affect price and market cap as supply will change.
B-

DISCLAIMER

  • This is a sponsored review by the SNTVT team.
  • This review is intended for educational purposes and should not be considered as financial advice. Before investing in any project we recommend you do your own research and consult a registered financial advisor.
  • All information listed is accurate at the time of publishing on 8th July 2019.
  • For the purposes of the code review, we used several third party contractors to audit the SNTVT code. All information is correct at the time of review, however, we can not predict or be held liable for any future vulnerabilities that may arise.

METHODOLOGY

We use a combined rating score out of 100 covering all the listed review metrics for all our project reviews. These are then graded as below:

50-55 C Rating

55-60 C+ Rating

60-65 B- Rating

65-70 B Rating

70-75 B+ Rating

75-80 A- Rating

80-85 A Rating

85-90 A+ Rating

90-100 A++ Rating

By default, all coins are reviewed at a score of 50, with marks awarded for positives and deducted for negatives.

PROJECT INFO AND SOCIALS

Websitehttps://sentivate.com/
Githubhttps://github.com/sentivate/SentivateAlphaNetwork
Twitterhttps://twitter.com/sentivate
Telegramhttps://t.me/sentivate
Mediumhttps://medium.com/@sntvt

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