Google wasn’t the first search engine. Facebook wasn’t the first social network. Ethereum wasn’t the first blockchain. Sometimes it’s not about being first to market. It’s about being first to scale to critical mass.
Can Internxt change the face of the cloud storage industry? Let’s find out.
Internxt is a quite innovative way of disrupting a field of IT services that are knows to each of us — could storage. X Cloud will be a decentralized file storage service similar to Sia, Storj or MaidSafe, but thought to be used also outside the blockchain niche.
Their goal is to launch a vast suite of innovative services that are mass-market attractive. X Core is the base of their service, X Cloud. X Core is meant to become an infrastructure created by users all around the world participating in the creation of a decentralized, more secure internet. And they are releasing a beta of its first product, X Cloud, this quarter.
Users can sell the resources of their machines to those looking to host their data in a more private, secure and efficient way. We’ve seen that before but it looks like X Cloud strives to be competitive with these centralized options both in terms of price and user experience. They are competitive to those centralised projects outside crypto space. Also, the security made possible through the distribution of data across the decentralized network makes the solution really attractive. If adopted, Internxt will be considered the implementation of the original vision behind trustless public decentralization.
Obviously, all files stored in X Core are cryptographically encrypted, reliably protecting against hacks and leaks. The very architecture of the Internxt X Core system provides the secure storage and retrieval of any type of data. Since all Internxt code is open source (AGPL and LGPL licenses, depending on the product), it is available for peer review in GitHub.
Internxt wants to ensure that its services are accessible by everyone, regardless of their knowledge and experience with these new forms of technologies — They simply try to compete with giants (Google Drive and Dropbox), by outperforming them in terms of privacy and security.
Yet, they also have competitors in the crypto space. However, it looks like X Cloud differentiates from Storj/Sia by providing a solution that is suitable for the mass market (basically anyone who’s not a developer/very technical and that’s really important here). X Cloud is focusing on User Experience, so that it has enough potential to outperform services like Dropbox (X Cloud will have similar pricing/user experience, but much better security standards).
Token economics: Internxt tokens (INXT) are needed to purchase X Cloud. These can be bought from CoinExchange, IDEX, Mercatox or Internxt’s website directly. Internxt has also partnered with BlackBerry to improve its security standards (that’s not a gimmick, we’ve checked that).
CEO
Fran Villalba Segarra is the founder and CEO of the company. He started the ambitious project back in April 2017. In his earlier career he worked for Hosting International, a web hosting company with more than 29 million clients. One of Fran´s own project was OneSite premium web hosting service which was sold with a customer base of 10.000 to big spanish web hosting company. Clearly, Fran has tremendous experience his field of operation.
Currently, the team has 5 developers and two designers working on their platform. Looking at the advisory board we can find Alex Sicart who was nominated for the Forbes “30 under 30“ in the technology category.
Roadmap
Q3 2018
Beta versions - this release will include all the code that will allow X Cloud and X Core to function, as well as a basic Windows, Linux and MacOS client.
Q4 2018
Commercial release - after optimizing the functionality of the UI and UX of X Cloud and X Core and finalizing the development, their commercial versions will be released.
Q1 2019
Mobile version - after the commercial release, the X Cloud app will become available for iOS and Android mobile devices
Q2 2019
CorePro - a highly optimized, easy-to-use storage server which enables hosts to maximize their profits as an X Core Host.
But, why do we need X Cloud, when there are already similar services like those of Storj or Sia, which also strive to replace centralized cloud storage services? You might say that Storj and SIA have the mover advantage. But, keep in mind Google wasn’t the first search engine. Facebook wasn’t the first social network. Ethereum wasn’t the first blockchain. It’s not about being first to market. It’s about being first to scale to critical mass. And this is exactly the point where SIA and STORJ are lacking a strategy. Internxt is focusing on providing customers a phenomenal user experience, empowering them and making sure that the right message reaches the right people.
For example, Storj’s download is a hustle and not user friendly at all. Also from the infrastructure point of view, SIA seems to be difficult to use in a mass market because if you want to use SIA you have to synchronize the whole blockchain of SIA every time you want to use it. Its unstable as you use one node for your storage whereas with Internxt you use multiple nodes so your file is replicated on multiple nodes. Regarding the backend, Internxt aims to be as great as Google Drive while using a fundamentally superior technology. Moreover, and this is actually a crucial factor, while SIA and STORJ basically represent groups of developers, they lack the marketing part. Internxt is doing a fantastic job reaching out to the masses and promoting their product. If you have a look at youtube for example, you will realize how much coverage they’ve got recently. Keep in mind that marketing is a very, very important part of a business and Internxt seems to cover this part quite well while the competition is clearly lacking in this area. We actually see a high chance of Internxt being the first to scale to critical mass.
Competitors
Storj (STORJ):
71 mln USD CMC, price — 0.53 USD
Circulating Supply: 135 787 539 STORJ
Total Supply: 424 999 998 STORJ
ATH: 3.13 USD (January 2018)
Siacoin (SC):
$400 108 131 USD CMC, price: 0.011 USD
Circulating Supply: 35 459 579 955 SC
ATH: 0.11 USD (January 2018)
MaidSafeCoin (MAID):
$147 556 524 USD CMC, price: 0.32 USD
Circulating supply: 452 552 412
ATH: 1.19 USD (January 2018)
Why Internxt should be given a look right now
Recent partnership with BlackBerry (BlackBerry is helping them improve their security standards through encryption and vulnerability detection training), in talks with bigger exchanges (KuCoin & more), very serious and valid team, and most importantly, release of it’s X Cloud service (for which they’ve been working on around a year). It looks like this project is not a typical crypto scam/exit scam/fraud, those guys are here to make a significant change long term.
The project is not flawless at this moment. Our biggest concern is low volume and lack of trusty exchanges (those things are interchangeable to be precise). Token economics might also be a bit more far-fetched that simple X Cloud purchasing power.
However, their CMC is ridiculously low — not even 3 mln USD, are you kidding me? However, the problem here is the volume and exchanges. They must really do something to get listed on Kucoin asap. With at least one big listing, some bullish market and some hype (they’re planning it, some YTubers have already covered them, one of them was Supposed a few months back) this coin make x10 in the blink of an eye. If their beta gets released on time, it can push them even more. It would be advisable to get some of their tokens for some mid/long term (preferably long term) holding and see what may unfold in the coming months.
Summary
Coin: Internet (INXT), an ERC20 token, store it in MEW.
Circulating supply: 629 610 INXT
Max supply: 629 610 INXT
ICO Price: 0.9 USD. The rest of the tokens have been burnt.
CMC: $2 904 508 USD
ATH: 37.04 USD (January 2018)
Internxt is a legally registered entity in Europe, Spain, as Internxt Universal Technologies SLU (B98936354). Trademark registration for “Internxt” in all relevant markets has been done.
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I am invested in INXt and PRL.
It might be interesting to compare INXT (and others mentioned in this post) to the Oyster Pearl Protocoll (PRL). They offer a data storage solution using the IOTA tangle and it's already up and running (beta). It's interesting because of 3 things:
first, because of IOTA. Second, because it's intuitive to use and their API might be interesting for future partners and third, it's in fact 2 projects (if we leave SHL out of it) 1) offering a replacement for todays online advertisment together with the possibility to reward content creators (making Ad blockers obsolet) and 2) possible endless and safe data storage based on the tangle network.
I would like to hear your opinion on this, especially in comparison to other file storage coins.
Thanks and keep up your good posts!
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