Here is my review of the original Sphere Social (ICO) coin offering. That is at https://sphere.social
Summary: Token. Moral. DO NOT delegate.
Good:
• Token can be exchanged for services in Sphere Social (SS). In the unsuccessful case, it succeeds. I do not trust and will not invest in the SS.
Bad people:
• Sphere Social (SS) is NOT really devastating. They try to fool you into believing that they are decentralized. To do so they use the word "decentralization" throughout their journals. In fact, most SS are CENTRALIZED. They claim that they are decentralized because they offer bonus cards. They call the Social Activity Tokens (SAT). Token is not confused with a fully decentralized social network. Sorry, but that's two different things. Continue reading for other red flags. In other words, the SS is cheating and cheating on you. This shows that they have a weak ethics. When most users figure out the value of their token will collapse and the user will leave. To get the benefit of social networking really decentral. For example, https://DiasporaFoundation.org or https://Minds.com
• DO NOT distribute. And not linked. Read more about the definition of distribution networks and federations at:
https://en.wikipedia.org/wiki/Distributed_social_network
https://en.wikipedia.org/wiki/Federation_(information_technology)
• Sphere tries to trick you and fool you into believing that blockchain and distributed hosting are the same thing. Extract from Spit Spit v1.7.4 on page 19: "A distributed media platform, multimedia storage, and other data on a blockchain are guaranteed rather than on traditional servers. "Source at https://sphere.social/wp-content/uploads/ 2017/12 / Sphere_Whitepaper_v1.7.4.pdf
Their statement is unethical because by definition a "blockchain" is a passworded security ledger that can be non-authoritative and hierarchical. A blockchain is not to be confused with a distributed multimedia storage and other social data. In the above Sphere's statement, note that they tried to cheat on you and cheated on you to believe that "blockchain" and "store distribution" are the same thing. They are not.
The above is one of the unethical claims in the white paper. Have you discovered other unethical claims?
A moral statement would be: "Sphere multimedia storage and other data on a secure hierarchical storage rather than traditional centralized hosting is guaranteed." And store its SAT card on it. a guaranteed blockchain. "Assume that these are their real intentions.
Perhaps the founder of Sphere is unfamiliar with the most widely acknowledged definition of blockchain? For investors, buyers and users interested in not being cheated by meaningless words such as "blockchain", "decentralized", "cryptocurrency", "token", a good start is educating yourself. For example Corbett made a video of the nuances in jargon. Very good to see. They are good and bad currency crypto. Educate yourself not to be cheated by bad people. Videos at
• May be NOT safe. Because the code is not publicly available. Therefore, it can not be considered by the public. In other words, there is a risk of abuse. Software code is not open source. So, security is weak. And there is a high risk of abuse by those with immature behavior. Compared to https://DiasporaFoundation.org or the https://minds.com code is open source and can be considered by everyone.
• Owned by Sphere Network for profit. Newly created on September 13, 2017. With contacts at Otonomos (Uk) Ltd, 1 Fore Street, London, UK, EC2Y 9DT.
According to legal records, the for-profit company is controlled by two people. They are Mr. Andrew Khong and Mr. Tuong Pham. 25 to 50% each. Both are residents of the United States. Sources at https://beta.companieshouse.gov.uk/company/10961486
SS advertised that you have 100% control over your content. It is wrong. As stated above, only two people have full control over all content of the SS, including censorship. Others have control over the restriction and in part on your content.
This means that the SS is mainly Pre-Servant. Not a Servant. In other words, Sphere is not owned by a non-profit community. Typically, a top priority company is hoarding money. Do not serve you and protect your privacy.
• Choose the wrong name. Because there was a social network Sphere. That will create confusion. The other network was founded in 2008 http://www.the-sphere.com
Wiki page at https://en.wikipedia.org/wiki/The_Sphere_(social_network)
• Their first homepage at https://sphere.social seems to be partially supported by Wordpress. As you know SS back-end software is NOT open source. But the SS uses the Wordpress open source project for their home front