Not more than ten years ago, no one was aware of the term cryptocurrency. But today, it has become a global phenomenon. It is known to most of the people, and many are aware of how important cryptocurrencies are. These virtual currencies have basically turned imagination into reality for a lot of people while others have started to fear its consequences as well.
What is BGX?
BGX has made a mark in the market of decentralization. They are a multifunctional organization providing a processing platform in the mobile gaming field. They stand out because they are backing games and software with artificial intelligence. All the gaming entrepreneurs and app developers who wish to make a niche in the crypto market can easily do so by teaming up with the organization.
BGX has the edge over other platforms considering it helps these developers monetize their games and get access to a large market by paying only 10% as commission on their revenue. This percentage is significantly less compared to the Play Market and App store. BGX alongside provides the most advanced form of infrastructure backed by very powerful processing.
BGX developed a blockchain algorithm which enables them to process almost up to 100,000 transactions/second. These transactions although high in volume, are operated at a small cost, while at the same time maintaining at the same time unparalell security. BGX’S algorithm works ideally for building a platform for financial processing. This suits large markets and microtransactions via the mobile gaming industry, which is estimated to be worth $60bn.
BGX has impressed its partners in the industry by considerably lowering their financial costs by increasing the channels of monetization. BGX has come across to be one of the fastest, cheapest and yet most secure method of payment process in the decentralized world.
The team behind the project believe that in the age where decentralization is in vogue, the market of applications cannot be kept under the control of a few vendors. They wish to coexist in a unified ecosystem and for which they are providing an entire platform available in open source.
Mr. Costa Zakharov is the heart of the unit. He has an incredible zeal and leads with encouragement. With a vast array of experience adding to his reputation, Costa has implemented successful projects across the board. He has a leading hand in software as well as numerous other industries.
If Mr. Costa Zakharov means he is the heart of BGX, then Mr. Igor Mishenev breathes for BGX. He his the lungs of their project and puts undying efforts to find supporters and partners who match for their platform. He has co-founded many big software companies which develop software for themselves as well as outsourcing them.
After heart and lungs, we now have the Brains of this organization. He has immense knowledge of development which doesn’t lead to a surprise when one sees over 200 projects which are developed under his direction, mentioned in his portfolio.
Other equally critical members of the core team include Alla Wieliczker as the product developer, Thanh Nguyen as mobile Development Leader, and Phong Nguyen as Delivery Director. In total, the team consists of ten team members with the support of seven advisors.
BGX ICO Strengths and Weakness
The team at BGX has a good network of partnership. This helps them have a diverse field of business.
The material of projects is of good quality and has sufficient back up for their progress in the long term.
They have a huge target audience and market
- There is a loophole where they have no clue what to do when users use separate tokens to buy games and benefit from it
- BGX doesn’t seem to know how will it win over the significant competition in its market.
- They still need tremendous banking relations.
- There is a lot of competitors in the field. There is room for several players, but the competition is going to be fierce.
BGX believes that decentralization has lead to even distribution of revenues and costs. It has led to a more transparent system of decision making, and BGX has thus developed a model which supports the entire ecosystem and its participants.
In conclusion, BGX would on a scale of 0-5 find the following ranks in the discussed categories:
They have made some bold statements and daring efforts at providing 100,000 transactions per second but at a very low cost. The designs are realistic and reasonable. MVP is yet to be seen.
BGX has a very well integrated team with supreme experiences and portfolios in the field, but they lack expertise in blockchain.
The project has solid market potential. They are evident in what the product is and what they are putting forward. But they lack uniqueness and the crypto economy still has space for many players.
The project has potential and the technology seems to be impressive ( stated to be 100k transaction/second), but there is risk involved as there are a lot of competitors in this space.