Solving a unique problem by institutionalizing an existing solution using blockchain technology and incentive structure.
Has strong fundamentals.
Easy to understand and implement.
Creates a win-win solution for users and the publisher.
Competent team members and diverse advisory board.
New revenue generation model and ability for enterprise and developers to source hashrate.
No hidden browser mining
Experienced Board of Managers and Advisors in the field of Ad-tech, Marketing, Operations, Technology, and Finance.
Working product since July 2018
Unique value proposition and first movers advantage.
Ability to onboard new Proof of Work blockchains without initial community.
Negative perception about web mining.
Big publishers may be reluctant to implement Gather’s new tech in early stages
High barrier to entry, the cloud computing market is dominated by big players.
Fiat payout as an option to bridge the digital currency gap for publishers.
Alternative/Additional digital monetization method for any website or application.
Rising concerns on ad tracking and privacy
Large established players in the Cloud space may try to hinder Gather’s Growth.
Other players may try to replicate or steal the product.
Regulatory compliance concerns.
Technical Analysis by Kong Trading - 05/11/2020
GTH has been making exciting moves lately. The beginning of GTH’s structure is a falling wedge, which surprisingly had only a time push out and no breakout nor breakdown. This time push is an uncommon scenario, but this shows a phase of accumulation. The current area where GTH is just moving sideways gives it the possibility to break out soon and even stronger than it would have done after the steep falling wedge.
To read the full Technical Analysis from Kong Trading click here.
Gather project aims to help bridge the gap between interrupted user experience and monetization for publishers and businesses. Bloggers, content creators, etc. usually monetize their website via ads or sponsorships to provide a free service for the visitor/user. But that creates a bad user experience and an incentive to make posts longer, embedding further advertisements.
Gather aims to disrupt this model by monetizing users time; it collects the users processing power, of course, under his upfront consent. This computational capacity can be gathered and sold for profit and to be used as processing power by developers/companies for mining cryptocurrency, cloud-based computing, and so on.
In this way, it creates a win-win solution for both the end-user and the website/application it interacts with as it generates revenue in the background. It does so via the Gather coin (GTH) by incentivizing users to give their processing power in return for the token.
The Gather protocol consists of three components - hardware, protocol, and application layer.
Gather Online (Layer 0) is the hardware layer, where processing power is collected from publishers. Through in-browser mining and userconsent, the computational power either through a CPU or a GPU is collected to the published (website or an app with whom the user interacts and reads content). Users can be paid both in GTH coin, which works well with browsers and apps without UI issues and in traditional cryptocurrency like Bitcoin or even potentially in local fiat currency where it's permissible. The hash power collected in this hardware layer can then be sold to new or existing cryptocurrencies for revenue that goes to the publisher. This in-browser mining brings better profitability for web-miners, less centralization to projects, and various problems that can be solved that are associated with launching new coins like decreasing vulnerability of 51% attacks.
Gather Network (Layer 1) is a protocol layer that powers the marketplace where publishers sell their computational power to enterprises and developers. It bridges the use of blockchain between regular internet users and websites with tokenized incentives, promoting transparency security, and better user experience. The blockchain is a hybrid proof of work and proof of stake.
Gather Cloud (Layer 2) is the application layer of the Gather network. This is where the processing power is redistributed to enterprises at lower costs and blockchain developers to secure their networks without sourcing miners. It gives an alternative option of sourcing processing power obtained at a lower cost and in higher flexibility instead of relying on the native miner mechanism. This ensures early-stage projects to focus on development instead of building a community first that is going to secure the blockchain. As it allows merged mining, multiple coins can be mined simultaneously from a similar algorithm; it offers additional benefits to miners as they can earn more coins.
It has a web staking wallet that enables those who earn rewards to stake their tokens and earn extra interest and have a higher amount of voting power in the network and validating transactions.
Besides running a masternode to validate and sign transactions, there is a possibility of running lite nodes, which are compressed web-lite blockchain nodes that are locally stored on the browser. They are only for limited and specific purposes and cannot work without masternodes tasked with heavy data processing and blockchain management. Web lite servers (lite nodes) are synced up with masternodes and serve to establish consensus quicker to prove account balances and send transactions into the network.
Another interesting feature of the network is merged mining through an auxiliary chain. The Gather network's parent chain is better for browsers and apps, allowing extra hashrate to be used for other cryptos. This is better for in-browser mining as it increases profitability for web-based miners as the parent chain needs no additional work to participate in the merged mining.
Smart contracts are another key component to the platform that is to be introduced in the next stage of the projects when auxiliary chains are created to unify these chains and interoperability between them. Each fork will inherit Gather's built-in smart contracts functionality.
Gather protocol is aimed to provide a new revenue-generating model for publishers and websites that don't want to provide a subscription-based service that wouldn't rely on advertisements. This, in turn, provides a better user experience for the end-user who can uninterruptedly browse through the web page and read or watch valuable information.
The user opts-in to give its processing power in exchange to contribute the website or application to receive valuable information for free and can earn GTH tokens while doing so if Gather’s loyalty program is activated by the publisher. The publisher which collects the user processing power revenue by selling that processing power to enterprises that require cloud-computing or blockchain developers that need it for network maintenance.
Any business in need of compute power can make use of the layer 2 of the Gather protocol. The Gather Cloud (Layer 2) will be used to redistribute the processing power of the Gather protocol at lower costs.
The layer 2 also serves developers in need of blockchain security and turnkey chain deployment It gives an alternative option of sourcing processing power obtained at a lower cost and in higher flexibility instead of relying on the native miner mechanism. This ensures early-stage projects to focus on development instead of building a community first that is going to secure the blockchain.
In summary, Gather protocol’s main target audience are online publishers that have mostly relied on ad revenue, but it aims to bring a better user experience for the ordinary user browsing the internet while in the process sourcing processing power for enterprise-level organizations that are in need for cloud computing or browser mining.
The Gather network has some unique features like its cloud layer that enables publishers to sell their collected hashpower to enterprise and developers. In turn, they can purchase this hashpower to source cheaper, more decentralized computational power than having it natively and/or relying on existing services like cloud-based providers that charge high fees and demand certain criteria is met. In this way, beneficiaries of the computational power have greater flexibility and on-demand hashrate at their disposal. On the other hand, users willing to give their computational power earn cryptocurrency be it the native GTH coin or another crypto-like Bitcoin.
As the platform aimed to disrupt the old advertisement-based revenue model, its primary use case is for online content publishers for monetization purposes. The old model requires users who are browsing the internet to be exposed to ads, which diminishes their experience. With the rise of algorithmic advertisement, it is more than ever harder to eliminate ad exposure even with ad blockers.
Gather is intended to run in the background eliminating the need for ads to monetize the site. Users having control over the amount of mining power contributed to the website can browse the internet without any interruptions or diminishing load time quality.
The token can be used for purchasing goods and services on the website with whom the interaction is made, as it can easily introduce a paywall between the user and the desired content from the publisher. In addition, another feature of the platform users can be a loyalty program, which can also be paid via the GTH coin. Another token use case is to vote on the network and earn rewards through staking and participating in-network maintenance and development.
There is no direct competition in the sense of what Gather is building as a single marketplace based platform connecting publishers with enterprises & developers.
There are, of course, variations of the individual parts of the Gather network visible in other projects. For example, Golem is a marketplace for processing power but requires user download and maintenance and large user input. Brave offers monetization but requires their browser to be used while Gather is browser/application-agnostic.
With the modifications the Gather team has made to incorporate individual parts into their platform to operate in a complementary manner, we don't believe there's any project that offers what Gather does as a complete package at this time.
The team behind Gather network consists of three co-founders and two senior and executive officers.
Gather's advisory board consists of six advisors coming from diverse backgrounds.
Technical Advisor - Viacheslav Shybaiev has over twenty years of experience in design, development and support of IT and mobile solutions in international environments. His career includes working with Status (SNT), and Opera at a senior level. He is currently the lead blockchain developer for MFChain and the Opet foundation.
Marketing Advisor - Narendra Nag is a Chief Digital Officer at Xynteo and since then has worked with some of the world’s largest companies like Unilever, Shell, Mastercard etc. Prior to this, Narendra spent six years at Publicis Groupe, using data driven insights to build breakthrough end-to-end influence to commerce programs, leveraging earned, owned and paid channels for clients like P&G, Coke, The Gates Foundation in multiple markets.
Financial Advisor - Patrick Deveraux has a background in finance and accounting goes back more than a decade with diverse experience in a variety of industries. He has worked for CPA firms as a staff accountant, run his own consulting firm, and most recently has been CFO of multiple start-ups and an Advisor to companies raising funds to support the adaptation of blockchain technology.
Strategic Advisor - Charles Read is a multi-faceted Blockchain evangelist who focuses on investment trends, public research, and assists with user acquisition for emerging technology companies building consumer applications.
Strategic Advisor - John Kim started his career with Deloitte in the US working in the IT field and as a project management role for support on audit-related applications. He has 5 years of technical experience under his belt and has managed the support of global applications used by over 80,000 internal and external users.
Growth Advisor - Bradley Townsend is an experienced growth enabler with an extensive business acumen spanning 5 years of sales and networking.
A total initial supply of tokens was 400M minted on the token launch. Out of those, 5.6% were sold in the seed round, and out of those 22,400,000 tokens, 25% were locked until the listing on exchanges and vested for the next 5 months.
Only 7.5% was allocated for the private sale, which is 30,000,000 tokens. 35% out of those tokens were unlocked on the listing and vested for the next 2 months. $960k was raised in the private sale round which was oversubscribed by 25x, with the participation of leading venture capital firms Bitscale Capital, TRG Capital, Master Ventures and LD Capital.
The same amount of 7.5% was allocated to the platform and partnership but with a different lock up the structure as 7.9% unlocked on the listing and 92.1% unlocked over the course of the next 12 months.
Gather Foundation took the biggest chunk of the tokens as 48.4% were retained by the foundation but are vested for the next 5 years and locked 6 months after the listing.
The team and the marketing got per 12.5% allocated, but the team tokens were locked for 6 months post listing and vested for 2 years while marketing tokens were locked for 3 months post listing and vested for 3 years.
Advisors got 6% out of the total supply and were locked out for 3 months after the listing with the vested period of 3-6 months.
Since there are different vesting periods for each category allocation on the graph below, you can see a visual representation of the token release schedule.
Gather coin (GTH) is the Gather networks utility token. It is built on top of Ethereum is an ERC20 standard. Once the mainnet is launched, the token swap will occur in a 1:1 ratio.
The network creates a block every 120 seconds (2mins), with the block reward being 160 GTH that brings into existence around 115,200 coins per day or around 42,048,000 coins per year. As stated, the chain starts with unlimited supply and will transition into a limited one based on:
Sustained volume over time
Processing power sustained over time
Number of top-end participants and number of active forks of a predefined chain size
When this takes place, only 1,314,000 new blocks will be made, which is approximately 60,000,000 coins that take about 5 years to be mined.
Transaction fees will be charged at the fixed amount of 0.01 USD until 1st Gather Network halving + 6 months. After that, the network will transition to a floating market-driven GTH pegging afterward. TPS is very slow, with an average of 7 transactions per block.
As a hybrid blockchain between PoW and PoS, the block reward is split 70% PoW / 22.5% Master node / 7.5% PoS rewards until halving at block 600,000, which would take about 2.28 years from when halving triggers.
In order to run a masternode, users must acquire tokens from exchanges, and a total of 250.000 GTH tokens are needed for a full node. The APR for the first 80 masternodes is 100%, which is expected to decrease to 40% when 200 nodes are established. When the network reaches 200 nodes, it would mean that 30% of the circulating supply will be locked calculated by the circulating supply in the first year.
The market potential of the Gather network is huge and nonexistent at the same time for digital advertising. As the solution that aims to disrupt the old advertisement-based revenue model, Gather network application can be vast. The total size of the total addressable market (TAM) of live websites is 2,500,000,000, so there is a lot of potential for this mining technology in the future.
On the other hand, Enterprises and PoW chains need processing power and this represents a total addressable market of $266 Billion where Gather's layer 2 solution kicks in.
Source: Gartner (November 2019)
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Like in the case with most crypto projects the Gather network has the most engaging community on Telegram while the biggest number of followers are on Facebook. Their Twitter feed is however more interacted with.
LinkedIn: https://bit.ly/GatherNetwork6
Medium: https://bit.ly/GatherNetwork9
Reddit: https://bit.ly/GatherNetwork10
Website: https://bit.ly/GatherNetwork1
Whitepaper: https://bit.ly/GatherNetwork2
Overview: https://gather.network/overview.html
Token Economy: https://gather.network/docs/Gather_Token_Economy.pdf
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