July 28, 2019 at 7:56 pm #5747
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What is it?
In their own words, “Sentivate is a hybrid web built to be a viable & realistic replacement for the modern web.Designed to be faster, safer, & more scalable than any centralized web or decentralized web.”
On to the token…
SNTVT is an ERC-20 token that has been released as a placeholder for their eventual mainnet coin, VIAT. Once Viat launches, SNTVT tokens will be swapped for Viat in what is essentially a 1:1000 reverse-split , except in the fact that coin possession in no way implies ownership. This does change the token economics significantly, though, so I’ll try to break it down as best I can.
The max supply of SNTVT is 4.2 billion tokens. So the circulating supply of Viat will be around 4.2 million. The total eventual supply will only be 42 million, after that. Of course, everything else will also drop in relation to that — meaning Team & Adviser funds, currently totalling 1,050,000,000 SNTVT will then be 1,050,000 Viat.
All team & adviser funds are currently locked, and in all likelihood will not be released until after the Viat swap. I believe a vesting schedule is being discussed, although the current tax climate can complicate matters when you’re discussing a vesting cliff & long-term holding of a cryptocurrency. In addition, one of the advisers didn’t want to receive compensation, and so the team is looking to donate his portion to charity.
On to dev activity…
This review is a bit different from my previous ones. As my writing & review style gradually evolve, I try to think of new things that might add depth to these reviews. For this review, I’m examining dev activity versus another project in the space that claims to be solving some of the same problems, but in completely different ways. I also got a chance to address some of my initial concerns with dev/co-founder, Thomas Marchi. But we’ll get to that a bit later on.
For this comparison, I picked Nexus Earth because it’s a project I had glanced at before, and knew had been active in the space for quite a while. I also had a suspicion that it was either the overly-ambitious fantasy of a potential lunatic, or possibly something shadier. Regardless, I wanted to let the work speak for itself.
Now, if you’re looking strictly at commits, it almost seems like Nexus is really banging it out when compared to Sentivate. But Sentivate generally pushes out a handful of big commits at one time, while Nexus releases a flurry of small commits pretty regularly.
And this gets to why I really like it when projects are listed on Santiment . They make it easy to visualize dev activity, but unlike other Github analyzers, they remove worthless & forked commits from the equation — giving you a much clearer picture of actual work done.
A visual on dev activity is sometimes really helpful. Ask me about their social engagement trendline, sometime
I’d really like to see Sentivate added to their charted assets, but this time I have an actual developer (Sentivate’s Tom) I can consult on commits & code, and I’ll try to include links to resources backing up his statements. So that should give us a much clearer picture of what’s going on in the Github. Here’s a few of the problems he found, as he reviewed Nexus’ code.
The developer clearly is still in the early stages.
Why is he still using var instead of const or let, still has empty spaces, still not using classes, poorly-structured project files, doesn’t use eslint with a robust style guide and rule set, doesn’t use async/await, uses new language feature words like async as variable names, not using spread, not using rest, over use of _ as starting character in variable, doesn’t use default parameters, uses the arguments object, no arrow functions, no async functions, doesn’t use Reflect, doesn’t properly loop through object properties, doesn’t make use of any short hand, doesn’t understand the event loop, some variables are named poorly, has race conditions, and doesn’t use template strings. That’s just to name a few issues that pop out at me.
Tom was also kind enough to provide a side-by-side comparison of code style & quality, shown below:
The left side is a sample from Sentivate, while the right is a sample from Nexus.
At this point I realized that there wasn’t enough time left before the sun burns out for Tom to tell me every problem that existed in Nexus’ code. Though, I’d wager he’ll be more than happy to try, if you ask him to. I still think it helps paint a pretty clear picture about the nature of “web 3.0” projects in cryptocurrency.
People paid an unconscionable amount of money for a project that is still delivering terrible code after previous valuation at a $100+mil market cap. This is one of the biggest issues in cryptocurrency, and one of the main reasons I’m trying to up my game as it pertains to reviewing fundamentals.
Special thanks to Tom for taking the time to go over that with me, a bit. It was very enlightening.
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