Quick Summary882 Investors read this
Seele aims to create a fourth-generation blockchain, which improves upon the blockchains of bitcoin (1.0), Ethereum (2.0), and more advanced platforms like EOS (3.0).
This new platform, which Seele has dubbed blockchain 4.0, seeks to provide many benefits including rapid confirmation times, blockchain interoperability, a new kind of blockchain infrastructure that enables varying business uses, and a novel protocol that will allow value transfer between blockchains.
The Problem and Solution
Seele outlined several problems in its whitepaper.
For starters, the document emphasized the shortcomings of existing consensus algorithms, noting that none of them are set up to provide scalability, security, and efficiency.
Further, the whitepaper stressed that existing blockchain infrastructures (single chain, multiple chain, etc.) could do more to enable companies to provide specific business services.
The document also noted that current blockchain networks are isolated, unable to communicate with each other and transfer value.
In response to all this, Seele offers several solutions. The whitepaper proposes a Neural Consensus Algorithm, designed to reduce energy requirements, bolster efficiency, and improve scalability.
The document also presents the Heterogenous Forest Network, an ecosystem that would consist of a meta chain and many sub-chains. With this infrastructure, users could operate individual sub-chains that could be leveraged for business uses such as individual projects.
Finally, to enable the transfer of value between different blockchains, the whitepaper proposes creating a Value Transport Protocol, a set of rules that would allow blockchains to identify digital assets they want to send or receive.
Seele's team is led by three men who all hold doctorates.
Maolin Zheng, CEO, holds a Ph.D. in Operations Research from Rutgers University. After receiving this degree, he held a postdoctoral position at The Natural Sciences and Engineering Research Council of Canada (NSERC) for three years, before moving on to a senior scientist position at Frictionless Commerce, which was later bought by software giant SAP.
He then held the role of senior software manager at both Fair Isaac and FICO, before becoming the chief scientist and CTO of ID5. The last role he had before co-founding Seele was as the chief scientist of Creditease Zhicheng.
Nick Smith, COO, has a Ph.D. in Visual Science from City University London. He was an honorary research fellow at Moorfields Eye Hospital in London, where he both collected data from people with glaucoma and helped lead research projects.
He was also a researcher at City University London, and then he was a data transformation lead at AbbVie, a U.S.-based pharmaceutical company.
Wei Bi, Seele's chief scientist, holds a Ph.D. in Vision Science/Physiological Optics from City University London. He served as both a research assistant and a postdoctoral research fellow at that school.
Later, he served as CTO of Beijing Datong Blockchain Research Institute and chief scientist at Zhongsiboan Technology (Beijing) Ltd.
According to his LinkedIn profile, Bi has served as the deputy secretary of China blockchain Innovation and Application Consortium since November 2016.
The token, which trades under the ticker SEELE, will be used primarily for two purposes. For starters, users will receive the token when their node(s) contribute to consensus. Second, these tokens will be used to pay transaction fees for the system.
The token sale took place in early April, and 1 billion tokens were sold.
SEELE was later listed on HADAX (Huobi Autonomous Digital Asset Exchange). Telegram admins confirmed that at the time of this writing, Seele was in discussions with other exchanges about possibly listing the token.
Seele's community seems more active in some places than in others. While admins have responded rather quickly through Telegram, inquiries made through email, Facebook, and Twitter had all failed to produce replies at the time of this writing.
The project's Medium page contained several posts, which provided updates and key information.
Seele's GitHub seemed active, containing nine repositories that had all been updated recently.
Seele's goals seem very ambitious, as the company aims to create a new consensus mechanism, blockchain infrastructure, and even a new protocol that would enable value transfer between blockchains.
Should these goals materialize, it could create widespread visibility and cause SEELE tokens to enjoy significant gains.
However, the company has not even provided a test net at the time of this writing. Seele plans to release the test net in June, which should come out toward the end of the month, a Telegram admin confirmed.
Further, the company has already encountered some rocky territory, as investors lost more than $1.8 million when individuals posed as admins in Seele's telegram channel.
Bitcoin Market Journal analysts gave the Seele ICO a BMJ QuickScore of 3.9, emphasizing the project's strong PR and product.
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