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12SHIPS (12SHIPS) ICO Review

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12SHIPS is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.

Essential Information

Ico TimeUnknown – Unknown
Token Name12SHIPS
Token Symbol12SHIPS
WhitepaperView Whitepaper
Website LinkHome
Price1 12SHIPS = 0.0881 USD
PlatformEthereum
Soft Cap50,000,000
Hard Cap500,000,000

More about 12SHIPS (12SHIPS) ICO:

In-house developed ASIC semiconductor chip. Technical support of Samsung Electronics, raw material supply of 3M and Patent for immersion cooling system. Thermal difference generation for eco-friendly cryptocurrency mining Flexible response to various cryptocurrency mining by replacing only the hash board. Sustainable growth through reinvestment of mined cryptocurrency Managing transparent and democratic mining pool/ Distribution of mined cryptocurrency through 3 Smart Operation(Smart Monitoring, Smart Contract, Smart voting). Utilizing in-house designed leading 11nano low-power, high-performance semiconductor chip. Immersion cooling system using non-conductive liquid for maximizing cooling efficiency. 20ft container type that maximize mobility. Modular design for convenient maintenance. Business linking heat energy recycling such as farming or commercial use.

Our vision is that we will expand uses of 12SHIPS tokens by implementing a blockchain platform based on TwelveShips Mining Infrastructure and by developing a service that is beneficial and reliable for games and e-commerce, and ultimately, we will create a globally trusted platform based on the blockchain. 

Our core team of outstanding experts and experienced professionals in the area of business strategy and planning, hardware and ASIC development, block-chain algorithm and software development, and heat exchanger development has been working together to actualize what is mentioned above.

For the first time in the industry, we are developing ‘Panokseon II’, a high-performance / high-efficiency hardware using 11-nano process ASIC, and developing ‘HANSANDO’, the only domestic mining pool in Korea for transparent and fair distribution. Hash power over a certain scale is required for smooth mining pool operation.

This hash power requires a high level of software skills and operational capabilities to validate the record of the block chain and to link the blocks and distribute the profits through error-free calculate

Based on the high-level block chain related hardware / software technology accumulated by 12Ships, we have developed the PoW-based block chain network ‘HashChain’

The HashChain allows anyone to record, store, validate, and recall important data without the risk of data transmission errors, hacking or tampering

This network is open to anyone who can access and use it, participate as a node, validate and create blocks, and receive a point reward, that can be used within a block-chain network

Our vision is that we will expand uses of 12SHIPS tokens by implementing a blockchain platform based on TwelveShips Mining Infrastructure and by developing a service that is beneficial and reliable for crypto economy, and ultimately, we will create a globally trusted platform based on the blockchain.

Our core team of outstanding experts and experienced professionals in the area of business strategy and planning, hardware and ASIC development, block-chain algorithm and software development, and heat exchanger development has been working together to actualize what is mentioned above.

To make a transaction with someone unknown, you need an authorized agency or a broker in the middle. However, if you go through an agency or a broker, it is inevitable that you spend more time and money. It gets even worse if you do business with someone living in a foreign country.The blockchain technology reduces such cost and time with innovative IT technology that goes beyond common sense. To make it possible, voluntary participation in mining is essential; also, in order to prevent the risk of counterfeiting or hacking, a high-performance, cryptography operating mining machine is required, which consumes a large amount of electricity.The 12Ships has a goal of securing stable profitability and contributing to the blockchain revitalization by providing smart mining solutions, based on eco-friendly mining Infrastructure with our own high-performance mining machine.First of all, we want to solve problems of the current air-cooling mining machines that consume a lot of electricity and make a lot of noise and dust. In order to cool the hash board equipped with the low-power, high-performance ASIC chip manufactured by Samsung’s 11nm semiconductor process, we adopted immersion cooling method, which is immersed in the non-conducting liquid. This is a cooling method that effectively lowers the temperature of the Asic Chip while maximizing the performance, compared to air-cooling method. In addition, we plan to provide eco-friendly mining infrastructure that can use heat energy from immersion cooling system for agriculture/fisheries, commercial/domestic use to recycle discarded thermal energy. Using this thermal energy as the heat source of the vacuum dryer, lava sea water of Jeju Island creates healthy and clean lava sea salt and mineral water.This Mining Infrastructure is built in a 20ft container type, easy to move and easy to maintain.Second, for transparent and democratic operation of the mining infrastructure, we established 3S Operation as our core policy. First, you can check the mining status in real time and check the CCTV footages in the mine by using a convenient dashboard called Smart Monitoring. Lastly, we will democratically operate the mining pool by allowing token holders to set major agendas of mining pool operation such as mining targets, re-investment ratio, distribution timing/term and so on and vote to make decisions with Smart Voting.Holders of 12SHIPS tokens distributed by the 12Ships Foundation, which hosts the ICO this time, will participate in making major decisions in the Blockchain Infrastructure, meaning that they will be in part of the growth of the 12Ships.A total of 5,000,000,000 TSHPtokens based on the ERC20 of Ethereum will be issued.Panokseon IIand CoolDog001, CoolFish001, mining machinesequipped with ASIC chip formulti-algorithmmining, will be launched by 12Ships. And the HashChainwill be a trustedplatform for anyone to participate in when the block depth and hash power are sufficiently secured.Our vision is that we expand the use of 12SHIPS token by implementing a blockchain platform based on 12Ships Mining Infrastructure and by developing a service that is beneficial and reliable for games and e-commerce, and ultimately, we will create a globally trusted platform based on this blockchain infrastructure.

The largest market of the blockchain market is the mining machine market, estimated at 3.3 trillion won in 2017 and is dominated by Chinese companies such as Bitmain and Canaan.In addition, in the market where mining pools are built and operated, Chinese mining sites such as BTC.com and Antpool occupy over 50% of the total hash power. Bitmain, the No. 1 player in the miner and mining pool market, is reportedly to have an operating profit of over 4 trillion won in 2017.To activate a public blockchain that is safe from counterfeiting and hacking, it is necessary to facilitate the mining activities to record and audit all transactions occurring in the blockchain. Also, voluntary involvement of a great number of miners is essential to ensure that the reliability of the blockchain is not compromised by collusion of a few.However, from looking at the recent mining situations, it shows that there are many incidents that do not happen to process things as stated above, which is being a significant risk to the blockchain ecosystem.First, there are the following problems with the mining machine market.A few manufacturers supply mining machines almost exclusively, and due to its irregular supply and unexpected significant price increase, many miners have difficulty in getting mining machine.

Miners prefer better performing mining machine for higher profitability. Subsequently, the currently sold versions of machines are focused only on the improvement of performance, and they inevitably consume more power as they are upgraded. Total amount of power consumption in bitcoin mining would rank 41st among nations in the world in terms of electricity consumption. Above all, large mining machines consuming high power worsen the miner’s profit and it is becoming a risk for voluntary mining.

Next, there are the following problems regarding the operation of mining pools and sites.Looking at the Bitcoin’s hash power distribution, the hash power of the top two global mining pools is exceeding 50%. In other words, the decisions of few mining pools have a great influence over the Bitcoin ecosystem. Although the power of these mining pools comes from the numerous miners involved, the few pool operators are making important decisions on their own regarding the operation of the mining pools; this means the hash power gathered by all miners is being misrepresented, and it is more likely that the operation of the mining pools is to represent the profit of the pool operators rather than that of the blockchain and its miners. In addition, many mining machines are being developed without considering the environment of mines, sothe environment of the mine place is very poor due to the noise, dust and heat generated by the miners. In addition, being exposed to the accumulated dust, high heat and electric current increases the risk of fire. There is an urgent need to create a safeand clean environment.Mining pool should provide more profitable options for miners. Not only focus on Top 3 POW assets, but also offer access to potential Altcoins.

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12SHIPS (12SHIPS) ICO Scam or Not?

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