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SENTIVATE REPORT BY BLOCKFYRE | PAGE ā€¹#ā€ŗ
BLOCKFYRE
Executive Summary
ā€¢ Replacement of current core components of the internet as HTTP and DNS
ā€¢ Hybrid Apps (hApps) combining benefits of traditional apps and dApps
ā€¢ Development of own browser with enhanced web experience
ā€¢ New certificate system would make passwords obsolete
Highlights
Risk & Concerns
ā€¢ Whitepaper 2.0 still to be released. Thus, purpose and magnitude of utility
cannot be properly assessed yet.
ā€¢ If Sentivate is successfull, it will save companies worldwide billions of
dollars. However, it is unclear whether this massive value creation can
translate into utility for the VIAT token as the current internet infrastructure
was not able to monetize their value creation.
Ticker SNTVT
Price 0.0000078 ETH
Pre-Sale Price 0.0000801 ETH
Market Cap 2.76 Million $
Circulating Supply 1.4 Billion
Maximum Supply 4.2 Billion
Token Type ERC20
Mainnet Planned
Website sentivate.com
Sentivate is a project of the software company
Arity that was founded in 2014. Sentivate
describes itself as a hybrid internet composed
of centralized and decentralized components.
Sentivate was designed to be a viable and
realistic replacement for the existing web
infrastructure.
Overview
Source: Blockfyre Research | Sentivate website
What problem does it solve?
Fundamental Problem: Bandwidth Crisis
ā€¢ Bandwidth, which is the amount of data that can be transmitted in a fixed amount of
time (expressed in bytes per second (bps)), is in a crisis. Given the exponential rise
of data generation and higher demands for data transmission (simple example is HD
video streaming), data pipes need to be continuously repaired and expanded to
cope with the current challenges. However, the current infrastructure wonā€™t be able
to cope with the demands of the future society.
ā€¢ In the coming decades, our world population will continue to grow and the people
in emerging economies will catch up to our current way and adopt a lot more
mobile devices. While this growth in demand for bandwidth could be handled with
the current infrastructure and system, we are not prepared for the rise of the Internet
of Things. In an economy where cars and household devices communicate with each
other, a reliable, fast, and secure data transmission is required.
ā€¢ The protocols of the world wide web were not designed to handle this unparalleled
volume of data that keeps growing at an ever rising rate.
ā€¢ Massive pressure placed on the current infrastructure would slow down the web,
which would be obviously detrimental for economic activity.
x
Source: Blockfyre Research | Sentivate website;
Source: domo.com/learn/data-never-sleeps-5
What problem does it solve?
Technological Problem: HTTP & DNS
ā€¢ The HyperText Transfer Protocol (HTTP), the foundation of our
data communication for the World Wide Web, and the
Domain Name System (DNS), a networking support protocol
that primarily translates domain names into numerical IP
addresses, were built a long time ago in Web history.
ā€¢ When these protocols where developed, todayā€™s and modern
demands for the web could hardly have been accounted for
ā€¢ Sentivate sees DNS & HTTP inherently broken, they have poor
scalability, are dreadfully slow, lack modern features, eat up
bandwidth, and cost consumers & businesses billions.
ā€¢ New features require real-time change feeds, more
bandwidth, speed, security, and bi-directional communication.
Problem: Decentralized Web
ā€¢ While the current centralized internet infrastructure wontā€™t
be able to cope with the upcoming challenges in the near
future, Sentivate is also opposes a completely
decentralized web (Web 3.0) as suggested by many
blockchain enthusiasts.
ā€¢ Sentivate believes that a solely decentralized web would
accelerate the bandwidth crisis since trades are
happening in nanoseconds and our economy would
collapse if seconds or minutes were required for
verification and broadcasting of trades.
ā€¢ Both topologies have their use cases but together they
are a solution to an ever growing problem that has gone
unchecked.
x
Source: Blockfyre Research | Sentivate website;
Sentivateā€™s solution
Solution: UDSP
ā€¢ Sentivate attempts to completely replace our current internet architecture around HTTP with an entirely new protocol ā€“ the Universal
Data Stream Protocol (UDSP)
ā€¢ UDSP would ensure high-throughput, low-latency (low amount of time for data transmission), and high reliability
ā€¢ Thus this proto col would be prepared to services to needs of an economy where machine-to-machine communication and the
internet of things is predominant
ā€¢ The packets are specifically designed to be easily digested and quickly utilized. UDSP is for low-latency high-throughput
communication making it ideal for dispersed computing and parallel computing environments which require dynamic changes to
the protocol.
Features
UDSP features latest technological advancements that save bandwidth and/or increase performance such as
ā€¢ 0-RTT: Zero Round Trip Time Resumption, which dramatically speeds up resumed connections, leading to a faster and smoother web
experience for web sites that are visited regularly
ā€¢ Multihoming: A device, host, or network is normally connected to just one network. However, it can be useful to connect a host or
network to multiple networks which enhances reliability and performance.
ā€¢ Multiplexing: Combining signals into one signal over a shared medium. The aim is to share a scarce resource.
ā€¢ IPv6 Readiness: IP addresses currently use the version 4 labelling which only allows for roughly 4 billion different IP addresses.
Internet protocol version 6 is a new labelling system of computer networks that allows for a virtually infinite number of IP addresses
(340 trillion trillion trillion)
x
Source: Blockfyre Research | Sentivate website;
Sentivateā€™s solution
Mitigation of DDOS attacks
ā€¢ A denial-of-service attack (DoS attack) is a cyber-attack
in which a bad actor floods the target with superfluous
requests to overload the system and thus disrupts
services for users.
ā€¢ UDSP would mitigate this problem by having optional
puzzles included in the packets (i.e. bits of data) which
allow providers and solvers to earn VIAT.
ā€¢ The puzzles can vary which make it a Dynamic-Proof-of-
Work
ā€¢ Both parties (client and domain) are credited with VIAT if
client solves the puzzle, whereas the reward split can be
adjusted to 100% in favour of the domain if the server is
under a DDOS attack. The bad actor would suffer a
financial loss for little gain.
ā€¢ Through these optional puzzles an incentive scheme is
created that would encourage the parties involved to act
in good faith
Hybrid Web Architecture
x
Source: Blockfyre Research | Sentivate website;
Product & Vision
Universal Identity System
Identity Registrar Identity Certificates
ā€¢ Service which signs certificates & is the first layer of protection for the network.
ā€¢ Protection of the network by filtering faulty certificates, Sybil Attacks, and
nefarious actors.
ā€¢ Safeguard that malicious certificates arenā€™t signed which allows services to
efficiently deny their connection attempts. False signatures can be denied by
the DIS and therefore potentially protect a service and save some of its
resources.
ā€¢ A decentralized network and dynamic blockchain will be leveraged to help
validate newly submitted certificates for signing
ā€¢ If the certificated is successfully vetted by the network the IR signs the
certificate and then it can be successfully used by services and the DIS
ā€¢ During the initial handshake, the first packet contains the certificates
required to establish a UDSP bi-directional stream
ā€¢ If signatures are successfully validated the rest of the handshake process
continues.
ā€¢ Identity Certificates are documents which act as a way to cryptographically
authenticate yourself on the network and thus act like a passport and a form of
identification on the Internet.
ā€¢ The Identity Certificate allows for instant signup, login, and purchase of an item.
ā€¢ It also removes the need to create a username or password. Using keypairs
instead of a traditional username and password relies on cryptography for
enhanced privacy and security. Sentivate keypairs act as identity for the internet.
ā€¢ The certificates are signed by a central or acting authority known as the Identity
Registrar. There are multiple Ephemeral Identity Certificates which are attached
and signed by a Master Identity Certificate and the Identity Registrar.
ā€¢ Certificates allow the community to establish a decentralized reputation
blockchain, which can publicly record good & bad behavior associated with
specific certificates. A honeypot can be used to block known bad actors from
accessing a service.
ā€¢ In addition, Master and Ephemeral certificates (short-term certificates) are
intergrated in the network
x
Source: Blockfyre Research | Sentivate website;
Product & Vision
Universal Domain System
Domain Registrar Domain Certificates
Management side of the Domain Information System
Functions
ā€¢ Used to buy a domain, register a domain, and manage
domain certificates.
ā€¢ Signing of certificates associated with the hostname
and provides upload access for the public certificates
ā€¢ Ensuring that an Identity Certificate is provided and
connected to the account which is used to purchase the
domain with Viat.The Domain Registrar is the
management side of the Domain Information System.
The DR provides the DIS with the certificates used to
respond to incoming hostname information requests.
Features
ā€¢ Updating of certificate details in real-time
ā€¢ Instant pushing of certificate details to DIS servers
around the globe
ā€¢ Functionality similar to cloudfare
Domain Info System
Responsible for returning domain-specific information
from human-readable hostnames.
Differences between DIS & DNS (current system)
ā€¢ DIS is encrypted by default via UDSP
ā€¢ DIS also returns the domainā€™s certificates which
include cryptographic details & routing information
ā€¢ 0-RTT is possible without requiring the client to have
visited the domain prior
ā€¢ The DIS can also return geocentric routing
information allowing clients to take advantage of a
hostā€™s potentially geographically distributed global
network. Clients can then quickly use the fastest
route to the hostā€™s servers in respect to their location
Documents which hold the routing, cryptography, and
additional details for the hostname
ā€¢ The routing information is the destinationā€™s IP
address
ā€¢ The cryptography is the Master and Ephemeral
keypairs to validate and initiate a bi-directional
UDSP connection to the origin server
ā€¢ Additional details such as the hostnames which are
assigned to the document, cross-origin policy, 0-RTT
support, Geo-location based IP, and others are
available.
x
Source: Blockfyre Research | Sentivate website;
Product & Vision
Hybrid Apps (hApps)
ā€¢ Hybrid Apps are self-constructing streamed single-page-applications.
Applications are designed in a highly modular fashion. Applicationā€™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.
ā€¢ Server loads and bandwidth is drastically decreased with this
methodology as now the client is only pulling exactly what is needed.
ā€¢ Thus, hybrid apps have high availability, scalability, and more
bandwidth for real-time dynamic content.
ā€¢ 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.
x
Source: Blockfyre Research | Sentivate website;
Tokenomics - SNTVT
Token Information
Symbol SNTVT
Decimals 18
Contract Address 0x7865af71cf0b288b4E7F654f4F7851EB46a2B7F8
Type ERC20
Network Ethereum
Token Swap 1000 SNTVT : 1 VIAT
Utility
ā€¢ Access to the early stages of the Sentivate Network, development
process & voting
ā€¢ Delegates cast their votes during various phases of development
which aids in directing the project (more SNTVT, more voting power)
ā€¢ Delegates have early access to browsers, server modules, client
modules, Identity certificates, Domain certificates, and various other
applications
CirculationTargeted distribution
210.000.000
840.000.000
1.050.000.000
2.100.000.000
Delegates
Airdrop
Team
Advisors
3.150.000.000
1.050.000.000
Held (Not in circulation)
Max Circulating Supply
x
Source: Blockfyre Research | Sentivate website;
Tokenomics - VIAT
Token Information Utility
Targeted distribution
VIAT is the native cryptocurrency for the Sentivate network. Shortly
after Sentivateā€™s web launches, development on VIATā€™s hybrid
blockchain will begin.
Symbol VIAT
Decimals 24
PoW Dynamic Proof of Work
Type Hybrid Blockchain
Total Supply 42,000,000
ā€¢ Designed to be fast, secure, and have low transaction fees
ā€¢ Process instant transactions
ā€¢ Provide wallet security
ā€¢ Alleviate network congestion when decentralized network is
overloaded
ā€¢ Purchasing domains
Mining
ā€¢ 1. Direct mining (as main method transaction- & smart contract
validation) via a full node
ā€¢ 2. Optional: Use of packet puzzles in UDSP (during process of data
communication). This implies passive mining of VIAT while browsing
the web. Features for which packet puzzles are enabled for:
ā€¢ Connection handshake
ā€¢ Connection liveliness check
ā€¢ DDoS protection and congestion control
ā€¢ Services choose packet puzzles for own reasons
Concerns
ā€¢ Dilution of token value for SNTVT holders after swap to VIAT
4.200.000
37.800.000
Mineable
Swappable (10% at conversion rate 1:1000)
x
Source: Blockfyre Research | Sentivate website;
Tokenomics - Wallet Analysis
SNTVT ownership Circulating supply
ā€¢ 4.2 billion SNTVT is distributed over 3811 addresses
ā€¢ The Airdrop was due to the bear market not successfull at all
ā€¢ As a result, the current token distribution severely deviates
from the distribution targeted by Sentivate
ā€¢ Sentivateā€˜s main wallet holds the majority of the tokens (67%)
ā€¢ The circulating supply is around ~1.4 billion SNTVT
ā€¢ The ownership of SNTVT is highly concentrated with the
Top 100 addresses holding more than 85% of the
circulating supply
ā€¢ This is not surprising given that Sentivate conducted a
private rather than a public sale
67.1%
Sentivateā€™s
main wallet
30.8% 86.4%
5.8%
7.8%
~1.4B
TOP100
excluding main wallet
and IDEX
x
Source: Blockfyre Research | Sentivate website; Etherscan
Tokenomics - Summary
Comments
Critique
In depth details about VIAT will be released in Sentivate next
whitepaper on VIAT. It will highlight explanations on the Block
Verification System that ensures transparency and validity in the
Sentivate system of centralized servers and decentralized
nodes. In addition we expect more information on the smart
contract feature within the Sentivate network and details how
VIAT is used within that system.
It remains to be seen whether Sentivate is able to design
economics for VIAT to capture the value created and makes
UDSP a fat protocol, which would ultimately reward investors.
ā€¢ Confusing information on coins on their website
ā€¢ Limited use case of current SNTVT token
ā€¢ No estimation of market size that will be served by VIAT
ā€¢ However, we expect these issues to be addressed in their
next whitepaper about the VIAT token
Fat protocol
In an interesting piece of research, Joel Monegro lays out the
ā€žfat protocol thesisā€œ about blockchains and compares it to the
web. While the protocols of the internet such as TCP/IP, HTTP,
SMTP (email), etc. created unprecedented value that paved the
way for our digital and mobile society, these protocols were not
able to monetize the value they created. In fact applications on
top of these protocols (Amazon, Facebook, Netflix, etc) were
able to monetize the value created by these protocols.
Monegro hypothesizes that it will be the other way around for
blockchains as the protocols and the their network can only be
used by transacting with their native cryptocurrencies.
x
Source: Blockfyre Research | usv.com/blog/fat-protocols
Exchange listings x
24h Volume (16.05.19)
16M SNTVT, $36k
52.7%
31.9%
15.4%
0.02% (Token Store)
Type DEX
Trading against ETH
Fees
-Withdrawal -
-Trade (maker) 0.05-0.2%
-Trade (taker) 0.05-0.2%
Website stex.com
STEX
ā€¢ SNTVT is listed on 4 exchanges
ā€¢ Most popular trading against ETH
ā€¢ Most liquidity can be found on IDEX
ā€¢ Lowest price most likely on IDEX
ā€¢ Bid-ask spread may vary between 5-10%
Type CEX
Trading against ETH, BTC, USD
Fees
-Withdrawal 0.0091 ETH
-Trade (maker) 0.1%
-Trade (taker) 0.1%
Website latoken.com
LATOKEN
Type DEX
Trading against ETH
Fees
-Withdrawal -
-Trade (maker) 0.1%
-Trade (taker) 0.2%
Website idex.market
IDEX
Overview
Source: Blockfyre Research | Sentivate website; cryptowisser.com; Exchange websites
Price analysis
ā€¢ There was barely any trading of SNTVT until mid of April
ā€¢ SNTVT has virtually zero correlation with ETH so far
ā€¢ The rise in trading volume made the daily volatility (measured
over the last month) drastically decline from highs at 70% down
to 20-30%
ā€¢ So far, liquidity and volume were highly supportive for SNTVTā€˜s
price, resulting in a 4-5x return from January and ~10x in the
last 2 months
Comments 30-day rolling analysis
SNTVT volume
ETH volume
USD price
ETH price
STEX & Token Store listing LATOKEN listing
IDEX listing
USD volume
USDprice
ETHprice
x
Source: Blockfyre Research | Sentivate website;
Roadmap
February March April May June July 2020-2021
Keymaster
ā€¢ Generate keypairs & identity
certificates for theĀ Sentivate network
via a Node module
ā€¢ Ephemeral certificates provide wallet
creation, service/website access, and
areĀ required to establish a UDSP
stream
ā€¢ Certificates will need to be signed
when the network is up
Shopkeeper
ā€¢ Users can begin to generate domain specific
certificates
ā€¢ Domains can be purchased and reserved
ahead of schedule via SNTVT (30% off), BTC,
ETH, BCH, LTC, & BNB. When the DIS goes,
certificates can be validated
ā€¢ Discord members have a total of 40% off on
domain reserves when purchasing with
SNTVT
Genesis
Client & Server NODE.JS Module
Prototype with ALPHA release of UDSP ā€“
Client to server communication
prototype that will allow fast prototyping
of components for the network like the
DIS
Domain system
ā€¢ Replacing the Domain Name System with the
Domain Information System (DIS)
ā€¢ Sentivateā€™s DIS provides the cryptographic
certificates from sites to the DIS
ā€¢ The DIS responds with routing information &
cryptographic parameters all in the form of a
cryptographically verifiable domain certificate
Identity System
ā€¢ In order to establish cryptographic trust an
Identity Registrar must be fully operational to
protect against Sybil attacks and sign off on
new identity certificates entering the network
ā€¢ When a client attempts to connect to a service
they must include their Identity Certificate
ā€¢ Service can quickly compute a set of shared
keys and establish a connection
Browser
ā€¢ The Identity systems will be integrated into the browser in the form
of profiles making it easy for everyone to use
ā€¢ Huge focus on providing a new developer experience on the
Universal Web
ā€¢ Browser is capable of viewing both the WWW & the UW
ā€¢ UW domains donā€™t require the protocol info
Full
functionality
x
Source: Blockfyre Research | Sentivate website;
Team
Description Critique
ā€¢ Sentivate was founded by a developer, finance major, and a
Navy SEAL:
3 Founders, 6 Advisors, 9 Team members
ā€¢ Skill set:
mathematics, computer science, biology, finance, crypto
traders, crisis management, military, and law
Hardly any information is found about the Sentivate team
online, LinkedIn profileā€™s are incomplete or unprofessionally
set up
Thoms Marchi Matt Karasiewicz
ā€¢ Co-founder
ā€¢ Bachelorā€˜s degree in Entrepreneurship
and Finance from Rider University
(2015)
Lew Knopp
ā€¢ Co-founder & Developer ā€¢ Co-founder & Navy SEAL
x
Source: Blockfyre Research | Sentivate website;
Sentivate Rating
Product 12/15 Community 13/15 Traction 3/9 Code 6/12 Trading 9/12 Network 7/15
Whitepaper
Competition
Speed
Value
Roadmap
Website
Social Media
Communication
Advisors
Influencers
Development Status
Number of txs
Partnerships
Background Team
Dev engagement
Dev engagement (1 mo)
Contribution Speed
Profit (1 month)
Profit (1 year)
Exchanges
Token distribution
Google Trends
News Mentions
Twitter Follower
Telegram Follower
Reddit Follower
Total score: 50 / 78 = average-good investment opportunity
x
Conclusion x
Unique selling point
Sentivate is tackling a real and urging problem. A succesfull implementation of UDSP would truly benefit entire
mankind. Sentivate well identified benefits and shortcomings of both centralized and decentralized internet
architecture and attempts to combine the strenghts of both systems within a hybrid blockchain.
High upside potential
Currently SNTVT is sitting at a low market cap and offers an asymmetric return profile. If Sentivate will
be able to deliver on its promises and will design rational economics for VIAT, investors should
eventually be rewarded with significant returns.
Long-term investment
Investors should be aware that Sentivate is a long-term bet and currently still an early stage
project with ambitious visions that still needs to deliver by hitting some milestones.
Risk & Concerns
Sentivate might face unexpected hurdles. Given the high ambitions Sentivate has set itself, we have concerns
about the ability and size of the team to meet them.
The current use case for SNTVT is very limited (early access and voting power). The potential for VIAT cannot be
properly assessed yet since the whitepaper 2.0 specifying the economics behind VIAT is not released yet.
Blockfyre
Jonathan Habicht Simon Dedic Alexander SchƤtz
Disclaimer
šŸ’° We currently don't hold any SNTVT.
šŸ‘„ We have been in contact with the team
šŸ”„ If you like this review, dont forget to share it!
Follow Blockfyre
x

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Sntvt sentivate presentation_blockfyre

  • 1. SENTIVATE REPORT BY BLOCKFYRE | PAGE ā€¹#ā€ŗ BLOCKFYRE
  • 2. Executive Summary ā€¢ Replacement of current core components of the internet as HTTP and DNS ā€¢ Hybrid Apps (hApps) combining benefits of traditional apps and dApps ā€¢ Development of own browser with enhanced web experience ā€¢ New certificate system would make passwords obsolete Highlights Risk & Concerns ā€¢ Whitepaper 2.0 still to be released. Thus, purpose and magnitude of utility cannot be properly assessed yet. ā€¢ If Sentivate is successfull, it will save companies worldwide billions of dollars. However, it is unclear whether this massive value creation can translate into utility for the VIAT token as the current internet infrastructure was not able to monetize their value creation. Ticker SNTVT Price 0.0000078 ETH Pre-Sale Price 0.0000801 ETH Market Cap 2.76 Million $ Circulating Supply 1.4 Billion Maximum Supply 4.2 Billion Token Type ERC20 Mainnet Planned Website sentivate.com Sentivate is a project of the software company Arity that was founded in 2014. Sentivate describes itself as a hybrid internet composed of centralized and decentralized components. Sentivate was designed to be a viable and realistic replacement for the existing web infrastructure. Overview Source: Blockfyre Research | Sentivate website
  • 3. What problem does it solve? Fundamental Problem: Bandwidth Crisis ā€¢ Bandwidth, which is the amount of data that can be transmitted in a fixed amount of time (expressed in bytes per second (bps)), is in a crisis. Given the exponential rise of data generation and higher demands for data transmission (simple example is HD video streaming), data pipes need to be continuously repaired and expanded to cope with the current challenges. However, the current infrastructure wonā€™t be able to cope with the demands of the future society. ā€¢ In the coming decades, our world population will continue to grow and the people in emerging economies will catch up to our current way and adopt a lot more mobile devices. While this growth in demand for bandwidth could be handled with the current infrastructure and system, we are not prepared for the rise of the Internet of Things. In an economy where cars and household devices communicate with each other, a reliable, fast, and secure data transmission is required. ā€¢ The protocols of the world wide web were not designed to handle this unparalleled volume of data that keeps growing at an ever rising rate. ā€¢ Massive pressure placed on the current infrastructure would slow down the web, which would be obviously detrimental for economic activity. x Source: Blockfyre Research | Sentivate website; Source: domo.com/learn/data-never-sleeps-5
  • 4. What problem does it solve? Technological Problem: HTTP & DNS ā€¢ The HyperText Transfer Protocol (HTTP), the foundation of our data communication for the World Wide Web, and the Domain Name System (DNS), a networking support protocol that primarily translates domain names into numerical IP addresses, were built a long time ago in Web history. ā€¢ When these protocols where developed, todayā€™s and modern demands for the web could hardly have been accounted for ā€¢ Sentivate sees DNS & HTTP inherently broken, they have poor scalability, are dreadfully slow, lack modern features, eat up bandwidth, and cost consumers & businesses billions. ā€¢ New features require real-time change feeds, more bandwidth, speed, security, and bi-directional communication. Problem: Decentralized Web ā€¢ While the current centralized internet infrastructure wontā€™t be able to cope with the upcoming challenges in the near future, Sentivate is also opposes a completely decentralized web (Web 3.0) as suggested by many blockchain enthusiasts. ā€¢ Sentivate believes that a solely decentralized web would accelerate the bandwidth crisis since trades are happening in nanoseconds and our economy would collapse if seconds or minutes were required for verification and broadcasting of trades. ā€¢ Both topologies have their use cases but together they are a solution to an ever growing problem that has gone unchecked. x Source: Blockfyre Research | Sentivate website;
  • 5. Sentivateā€™s solution Solution: UDSP ā€¢ Sentivate attempts to completely replace our current internet architecture around HTTP with an entirely new protocol ā€“ the Universal Data Stream Protocol (UDSP) ā€¢ UDSP would ensure high-throughput, low-latency (low amount of time for data transmission), and high reliability ā€¢ Thus this proto col would be prepared to services to needs of an economy where machine-to-machine communication and the internet of things is predominant ā€¢ The packets are specifically designed to be easily digested and quickly utilized. UDSP is for low-latency high-throughput communication making it ideal for dispersed computing and parallel computing environments which require dynamic changes to the protocol. Features UDSP features latest technological advancements that save bandwidth and/or increase performance such as ā€¢ 0-RTT: Zero Round Trip Time Resumption, which dramatically speeds up resumed connections, leading to a faster and smoother web experience for web sites that are visited regularly ā€¢ Multihoming: A device, host, or network is normally connected to just one network. However, it can be useful to connect a host or network to multiple networks which enhances reliability and performance. ā€¢ Multiplexing: Combining signals into one signal over a shared medium. The aim is to share a scarce resource. ā€¢ IPv6 Readiness: IP addresses currently use the version 4 labelling which only allows for roughly 4 billion different IP addresses. Internet protocol version 6 is a new labelling system of computer networks that allows for a virtually infinite number of IP addresses (340 trillion trillion trillion) x Source: Blockfyre Research | Sentivate website;
  • 6. Sentivateā€™s solution Mitigation of DDOS attacks ā€¢ A denial-of-service attack (DoS attack) is a cyber-attack in which a bad actor floods the target with superfluous requests to overload the system and thus disrupts services for users. ā€¢ UDSP would mitigate this problem by having optional puzzles included in the packets (i.e. bits of data) which allow providers and solvers to earn VIAT. ā€¢ The puzzles can vary which make it a Dynamic-Proof-of- Work ā€¢ Both parties (client and domain) are credited with VIAT if client solves the puzzle, whereas the reward split can be adjusted to 100% in favour of the domain if the server is under a DDOS attack. The bad actor would suffer a financial loss for little gain. ā€¢ Through these optional puzzles an incentive scheme is created that would encourage the parties involved to act in good faith Hybrid Web Architecture x Source: Blockfyre Research | Sentivate website;
  • 7. Product & Vision Universal Identity System Identity Registrar Identity Certificates ā€¢ Service which signs certificates & is the first layer of protection for the network. ā€¢ Protection of the network by filtering faulty certificates, Sybil Attacks, and nefarious actors. ā€¢ Safeguard that malicious certificates arenā€™t signed which allows services to efficiently deny their connection attempts. False signatures can be denied by the DIS and therefore potentially protect a service and save some of its resources. ā€¢ A decentralized network and dynamic blockchain will be leveraged to help validate newly submitted certificates for signing ā€¢ If the certificated is successfully vetted by the network the IR signs the certificate and then it can be successfully used by services and the DIS ā€¢ During the initial handshake, the first packet contains the certificates required to establish a UDSP bi-directional stream ā€¢ If signatures are successfully validated the rest of the handshake process continues. ā€¢ Identity Certificates are documents which act as a way to cryptographically authenticate yourself on the network and thus act like a passport and a form of identification on the Internet. ā€¢ The Identity Certificate allows for instant signup, login, and purchase of an item. ā€¢ It also removes the need to create a username or password. Using keypairs instead of a traditional username and password relies on cryptography for enhanced privacy and security. Sentivate keypairs act as identity for the internet. ā€¢ The certificates are signed by a central or acting authority known as the Identity Registrar. There are multiple Ephemeral Identity Certificates which are attached and signed by a Master Identity Certificate and the Identity Registrar. ā€¢ Certificates allow the community to establish a decentralized reputation blockchain, which can publicly record good & bad behavior associated with specific certificates. A honeypot can be used to block known bad actors from accessing a service. ā€¢ In addition, Master and Ephemeral certificates (short-term certificates) are intergrated in the network x Source: Blockfyre Research | Sentivate website;
  • 8. Product & Vision Universal Domain System Domain Registrar Domain Certificates Management side of the Domain Information System Functions ā€¢ Used to buy a domain, register a domain, and manage domain certificates. ā€¢ Signing of certificates associated with the hostname and provides upload access for the public certificates ā€¢ Ensuring that an Identity Certificate is provided and connected to the account which is used to purchase the domain with Viat.The Domain Registrar is the management side of the Domain Information System. The DR provides the DIS with the certificates used to respond to incoming hostname information requests. Features ā€¢ Updating of certificate details in real-time ā€¢ Instant pushing of certificate details to DIS servers around the globe ā€¢ Functionality similar to cloudfare Domain Info System Responsible for returning domain-specific information from human-readable hostnames. Differences between DIS & DNS (current system) ā€¢ DIS is encrypted by default via UDSP ā€¢ DIS also returns the domainā€™s certificates which include cryptographic details & routing information ā€¢ 0-RTT is possible without requiring the client to have visited the domain prior ā€¢ The DIS can also return geocentric routing information allowing clients to take advantage of a hostā€™s potentially geographically distributed global network. Clients can then quickly use the fastest route to the hostā€™s servers in respect to their location Documents which hold the routing, cryptography, and additional details for the hostname ā€¢ The routing information is the destinationā€™s IP address ā€¢ The cryptography is the Master and Ephemeral keypairs to validate and initiate a bi-directional UDSP connection to the origin server ā€¢ Additional details such as the hostnames which are assigned to the document, cross-origin policy, 0-RTT support, Geo-location based IP, and others are available. x Source: Blockfyre Research | Sentivate website;
  • 9. Product & Vision Hybrid Apps (hApps) ā€¢ Hybrid Apps are self-constructing streamed single-page-applications. Applications are designed in a highly modular fashion. Applicationā€™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. ā€¢ Server loads and bandwidth is drastically decreased with this methodology as now the client is only pulling exactly what is needed. ā€¢ Thus, hybrid apps have high availability, scalability, and more bandwidth for real-time dynamic content. ā€¢ 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. x Source: Blockfyre Research | Sentivate website;
  • 10. Tokenomics - SNTVT Token Information Symbol SNTVT Decimals 18 Contract Address 0x7865af71cf0b288b4E7F654f4F7851EB46a2B7F8 Type ERC20 Network Ethereum Token Swap 1000 SNTVT : 1 VIAT Utility ā€¢ Access to the early stages of the Sentivate Network, development process & voting ā€¢ Delegates cast their votes during various phases of development which aids in directing the project (more SNTVT, more voting power) ā€¢ Delegates have early access to browsers, server modules, client modules, Identity certificates, Domain certificates, and various other applications CirculationTargeted distribution 210.000.000 840.000.000 1.050.000.000 2.100.000.000 Delegates Airdrop Team Advisors 3.150.000.000 1.050.000.000 Held (Not in circulation) Max Circulating Supply x Source: Blockfyre Research | Sentivate website;
  • 11. Tokenomics - VIAT Token Information Utility Targeted distribution VIAT is the native cryptocurrency for the Sentivate network. Shortly after Sentivateā€™s web launches, development on VIATā€™s hybrid blockchain will begin. Symbol VIAT Decimals 24 PoW Dynamic Proof of Work Type Hybrid Blockchain Total Supply 42,000,000 ā€¢ Designed to be fast, secure, and have low transaction fees ā€¢ Process instant transactions ā€¢ Provide wallet security ā€¢ Alleviate network congestion when decentralized network is overloaded ā€¢ Purchasing domains Mining ā€¢ 1. Direct mining (as main method transaction- & smart contract validation) via a full node ā€¢ 2. Optional: Use of packet puzzles in UDSP (during process of data communication). This implies passive mining of VIAT while browsing the web. Features for which packet puzzles are enabled for: ā€¢ Connection handshake ā€¢ Connection liveliness check ā€¢ DDoS protection and congestion control ā€¢ Services choose packet puzzles for own reasons Concerns ā€¢ Dilution of token value for SNTVT holders after swap to VIAT 4.200.000 37.800.000 Mineable Swappable (10% at conversion rate 1:1000) x Source: Blockfyre Research | Sentivate website;
  • 12. Tokenomics - Wallet Analysis SNTVT ownership Circulating supply ā€¢ 4.2 billion SNTVT is distributed over 3811 addresses ā€¢ The Airdrop was due to the bear market not successfull at all ā€¢ As a result, the current token distribution severely deviates from the distribution targeted by Sentivate ā€¢ Sentivateā€˜s main wallet holds the majority of the tokens (67%) ā€¢ The circulating supply is around ~1.4 billion SNTVT ā€¢ The ownership of SNTVT is highly concentrated with the Top 100 addresses holding more than 85% of the circulating supply ā€¢ This is not surprising given that Sentivate conducted a private rather than a public sale 67.1% Sentivateā€™s main wallet 30.8% 86.4% 5.8% 7.8% ~1.4B TOP100 excluding main wallet and IDEX x Source: Blockfyre Research | Sentivate website; Etherscan
  • 13. Tokenomics - Summary Comments Critique In depth details about VIAT will be released in Sentivate next whitepaper on VIAT. It will highlight explanations on the Block Verification System that ensures transparency and validity in the Sentivate system of centralized servers and decentralized nodes. In addition we expect more information on the smart contract feature within the Sentivate network and details how VIAT is used within that system. It remains to be seen whether Sentivate is able to design economics for VIAT to capture the value created and makes UDSP a fat protocol, which would ultimately reward investors. ā€¢ Confusing information on coins on their website ā€¢ Limited use case of current SNTVT token ā€¢ No estimation of market size that will be served by VIAT ā€¢ However, we expect these issues to be addressed in their next whitepaper about the VIAT token Fat protocol In an interesting piece of research, Joel Monegro lays out the ā€žfat protocol thesisā€œ about blockchains and compares it to the web. While the protocols of the internet such as TCP/IP, HTTP, SMTP (email), etc. created unprecedented value that paved the way for our digital and mobile society, these protocols were not able to monetize the value they created. In fact applications on top of these protocols (Amazon, Facebook, Netflix, etc) were able to monetize the value created by these protocols. Monegro hypothesizes that it will be the other way around for blockchains as the protocols and the their network can only be used by transacting with their native cryptocurrencies. x Source: Blockfyre Research | usv.com/blog/fat-protocols
  • 14. Exchange listings x 24h Volume (16.05.19) 16M SNTVT, $36k 52.7% 31.9% 15.4% 0.02% (Token Store) Type DEX Trading against ETH Fees -Withdrawal - -Trade (maker) 0.05-0.2% -Trade (taker) 0.05-0.2% Website stex.com STEX ā€¢ SNTVT is listed on 4 exchanges ā€¢ Most popular trading against ETH ā€¢ Most liquidity can be found on IDEX ā€¢ Lowest price most likely on IDEX ā€¢ Bid-ask spread may vary between 5-10% Type CEX Trading against ETH, BTC, USD Fees -Withdrawal 0.0091 ETH -Trade (maker) 0.1% -Trade (taker) 0.1% Website latoken.com LATOKEN Type DEX Trading against ETH Fees -Withdrawal - -Trade (maker) 0.1% -Trade (taker) 0.2% Website idex.market IDEX Overview Source: Blockfyre Research | Sentivate website; cryptowisser.com; Exchange websites
  • 15. Price analysis ā€¢ There was barely any trading of SNTVT until mid of April ā€¢ SNTVT has virtually zero correlation with ETH so far ā€¢ The rise in trading volume made the daily volatility (measured over the last month) drastically decline from highs at 70% down to 20-30% ā€¢ So far, liquidity and volume were highly supportive for SNTVTā€˜s price, resulting in a 4-5x return from January and ~10x in the last 2 months Comments 30-day rolling analysis SNTVT volume ETH volume USD price ETH price STEX & Token Store listing LATOKEN listing IDEX listing USD volume USDprice ETHprice x Source: Blockfyre Research | Sentivate website;
  • 16. Roadmap February March April May June July 2020-2021 Keymaster ā€¢ Generate keypairs & identity certificates for theĀ Sentivate network via a Node module ā€¢ Ephemeral certificates provide wallet creation, service/website access, and areĀ required to establish a UDSP stream ā€¢ Certificates will need to be signed when the network is up Shopkeeper ā€¢ Users can begin to generate domain specific certificates ā€¢ Domains can be purchased and reserved ahead of schedule via SNTVT (30% off), BTC, ETH, BCH, LTC, & BNB. When the DIS goes, certificates can be validated ā€¢ Discord members have a total of 40% off on domain reserves when purchasing with SNTVT Genesis Client & Server NODE.JS Module Prototype with ALPHA release of UDSP ā€“ Client to server communication prototype that will allow fast prototyping of components for the network like the DIS Domain system ā€¢ Replacing the Domain Name System with the Domain Information System (DIS) ā€¢ Sentivateā€™s DIS provides the cryptographic certificates from sites to the DIS ā€¢ The DIS responds with routing information & cryptographic parameters all in the form of a cryptographically verifiable domain certificate Identity System ā€¢ In order to establish cryptographic trust an Identity Registrar must be fully operational to protect against Sybil attacks and sign off on new identity certificates entering the network ā€¢ When a client attempts to connect to a service they must include their Identity Certificate ā€¢ Service can quickly compute a set of shared keys and establish a connection Browser ā€¢ The Identity systems will be integrated into the browser in the form of profiles making it easy for everyone to use ā€¢ Huge focus on providing a new developer experience on the Universal Web ā€¢ Browser is capable of viewing both the WWW & the UW ā€¢ UW domains donā€™t require the protocol info Full functionality x Source: Blockfyre Research | Sentivate website;
  • 17. Team Description Critique ā€¢ Sentivate was founded by a developer, finance major, and a Navy SEAL: 3 Founders, 6 Advisors, 9 Team members ā€¢ Skill set: mathematics, computer science, biology, finance, crypto traders, crisis management, military, and law Hardly any information is found about the Sentivate team online, LinkedIn profileā€™s are incomplete or unprofessionally set up Thoms Marchi Matt Karasiewicz ā€¢ Co-founder ā€¢ Bachelorā€˜s degree in Entrepreneurship and Finance from Rider University (2015) Lew Knopp ā€¢ Co-founder & Developer ā€¢ Co-founder & Navy SEAL x Source: Blockfyre Research | Sentivate website;
  • 18. Sentivate Rating Product 12/15 Community 13/15 Traction 3/9 Code 6/12 Trading 9/12 Network 7/15 Whitepaper Competition Speed Value Roadmap Website Social Media Communication Advisors Influencers Development Status Number of txs Partnerships Background Team Dev engagement Dev engagement (1 mo) Contribution Speed Profit (1 month) Profit (1 year) Exchanges Token distribution Google Trends News Mentions Twitter Follower Telegram Follower Reddit Follower Total score: 50 / 78 = average-good investment opportunity x
  • 19. Conclusion x Unique selling point Sentivate is tackling a real and urging problem. A succesfull implementation of UDSP would truly benefit entire mankind. Sentivate well identified benefits and shortcomings of both centralized and decentralized internet architecture and attempts to combine the strenghts of both systems within a hybrid blockchain. High upside potential Currently SNTVT is sitting at a low market cap and offers an asymmetric return profile. If Sentivate will be able to deliver on its promises and will design rational economics for VIAT, investors should eventually be rewarded with significant returns. Long-term investment Investors should be aware that Sentivate is a long-term bet and currently still an early stage project with ambitious visions that still needs to deliver by hitting some milestones. Risk & Concerns Sentivate might face unexpected hurdles. Given the high ambitions Sentivate has set itself, we have concerns about the ability and size of the team to meet them. The current use case for SNTVT is very limited (early access and voting power). The potential for VIAT cannot be properly assessed yet since the whitepaper 2.0 specifying the economics behind VIAT is not released yet.
  • 20. Blockfyre Jonathan Habicht Simon Dedic Alexander SchƤtz Disclaimer šŸ’° We currently don't hold any SNTVT. šŸ‘„ We have been in contact with the team šŸ”„ If you like this review, dont forget to share it! Follow Blockfyre x