The Path project is specialized in developing a blockchain based internet monitoring service. The project will offer uptime and performance monitoring among other things.
The Path network is designed particularly for enterprise customers that want to monitor their web presence in a cost effective way. At the same time the network incentivizes operators to join the platform and to share their bandwidth and processing power in exchange for token rewards.
How advanced is the project?
The team has completed the white paper and the private token sale. Path’s Network beta is already live. The public token sale and the launch is expected to occur soon. Within three years of operation Path aims to achieve 600 million USD revenues and 5,000 clients.
What are the tokens used for and how can the token value appreciate?
The Path tokens are called PATH and they are native tokens that are compatible with Ethereum’s ERC-20 token standard. Users and particularly enterprises can use the token to request node reports about downtime statistics. No transaction fees are paid. On the other side node operators are rewarded PATH tokens for completing monitoring tasks. Market capitalization of the PATH token will increase with network usage.
Team & Advisors
The Path core team consists of two co-founders, one Director of Technology, one Director of Engineering, one Lead Software Engineer, one UI/UX Lead, several developers and software engineers, and one economic analyst.
J. Hilbert is the CEO and co-founder of Path. He is an expert in cybersecurity with several years of experience in the field. His previous employers include the FBI.
Marshal Webb is the co-founder and CTO of Path and an information security expert. He already won several bug bounty programs and received broad recognition for his work.
The co-founders have no previous blockchain experience and have worked in a different market segment compared to where Path operates.
Among the advisors of Path are Eric Taylor, a cybersecurity researcher, Bryce Case Junior, an early cryptocurrency evangelist, Paul Kim, a gaming expert, Shawn Zandi, an Infrastructure Architect, Branden Hampton, a social media influencer, and Nathaniel Wakealm, a security expert.
Among the services that Path will offer is uptime monitoring, performance monitoring, website loading speed checks, alerts for service interruptions, analytics, DDoS monitoring and DNS monitoring.
In the Path panel the working uptime, performance monitoring reporting and additional analytics will be displayed. The panel consists of multiple backend services. On the frontend it will be displayed as a Single Page Application. Path will also provide a mobile app for displaying web performance statistics.
Path nodes are in charge of performing the monitoring services and in exchange receive token rewards. Nodes can be established for each internet connected device. Mobile devices are suited to join the Path Network and to engage in the network analysis.
Strength and Opportunities
Path has already managed to convince a broad range of investors to support the project. Among them are Bitmain, INBlockchain, Crypto Capital, BitForex, Eastern Capital, Hash Finance, Currency World, Mars Finance, and Happy East Capital. Additionally, the team counts with solid advisor profiles.
Weaknesses and Threats
It seems that a lot of the services that Path wants to provide are already provided pretty well by centralized agents. Today several applications and marketing dashboards exist that provide instant email, SMS and API notifications in case of server downtimes at very affordable rates. A strong question mark remains whether the problem that Path is solving needs to be solved by a blockchain network or whether existing centralized solutions are better suited. Also in terms of website analytics, which is a field that Path wants to serve, there already exist powerful competitors such as Google Analytics.
Path Network requires one million nodes in order to achieve global coverage for its service. It will be very difficult to achieve that high number of nodes. In the meantime the service is basically useless compared to already existing and functional centralized solutions.
Website monitoring is a service that is often purchased together with a bunch of other services and not individually. For these reasons several large enterprises that are potential users of Path are customers of an existing marketing analytics dashboard that includes website monitoring. Due to the other services provided by the dashboard the enterprise may not change service provider since it is the entire bundle of services that creates the value for the customer.
Path Network is serving a very specific and certainly profitable niche market. However, not all kind of services that are offered on the internet require a blockchain based solution. Path may not have a strong competitor at the intersection of blockchain technology and the website monitoring market, but it is unclear whether the blockchain powered solution offered by Path will provide a more convincing alternative to customers than the established centralized solutions.
The main competitors of Path will be the big established centralized counterparts. Offering a better and cheaper alternative will be the hardest challenge for Path and will decide on the long term prosperity of the PATH token. In the short term the indicators for the ICO look positive.
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.