Seele is one of those projects that aim to sound very technologically complex, but if you scratch the surface, a lot of shady and questionable things come up.
Seele = Blockchain 4.0
Link to the main website
Link to price/market cap
Exchange Ticker (SEELE)
Coin or Token
Circulating Supply (604 Million)
Total Supply (1 Billion)
Market Cap Ranking
Despite their rapid development, blockchains of today seemingly struggle to scale for high-performance and are unable to support diverse business scenarios. Seele aims to tackle this buy improving core blockchain infrastructure like consensus algorithms, communication protocols and upper application ecosystem.
The Seele ICO managed to raise $12 000 000 despite bad market conditions at the time.
- Neural Consensus Algorithm
- Heterogeneous Forest Network
Neural Consensus Algorithm
The conventional blockchain consensus algorithms are inherently flawed. Proof of Work algorithms have severe computational overhead and leave a lasting fingerprint on the environment. While being efficient, the Proof of Stake consensus is vulnerable to a number of attacks, including Bribe attacks and Long Range attacks. Seele looks closer at the advantages and disadvantages of established consensus algorithms, proposing a new ε-differential agreement. This consensus’s performance increases linearly with node size and its parameters are adjustable according to the environment. There is also no head node selection process, no PoW mining which means the system is very energy efficient.
Heterogeneous Forest Network
Blockchains like Bitcoin and Ethereum have a single-chain structure, all transactions take place on a single chain. While single-chain structures have their advantages, there are many persisting issues that prevent the scalability of the network. Those issues include TPS bottlenecks, lack of cross-chain interoperability and many more. Seele employs a multi-chain structure to combat those problems. The Heterogeneous Forest Network is composed of various subnets, these subnets can be separately viewed as partition trees. The protocol is engineered to meet different business needs and is adaptable according to their security standard.
The project sounds really promising until you find out that most of the team members barely have any blockchain experience, and according to community members and researchers many of them used fake information about their professional background. The whitepaper is full of meaningless techno-gibberish and buzzwords. Also, even worse, a rogue team member managed to phish a bunch of people into investing in a private presale, exit-scamming with nearly $2 000 000.
Seele is one of those projects that aim to sound very technologically complex, but if you scratch the surface, a lot of shady and questionable things come up. The team seems quite inexperienced for a protocol that is seemingly so technically advanced and aims to be so revolutionary. Definitely approach with caution, the lack of integrity of the people behind the project is apparent, and while some mistakes are forgivable, who knows what else is happening behind closed doors.
- No backing (asset, profits, commodity)
- Red flags
- technologically complex