By ICODrops. Analysed on 26.10.2018. - ICO reviews channel - Twitter - English chat

KardiaChain is the first fully decentralised, interoperable and self-optimised blockchain ecosystem.

The timeframe of the sales/metrics.


Social metrics.

Twitter: 50 subscribers, 1 post dated by October 12: the announcement of the review by CryptoDiffer.

Telegram: 1600 users, a fair amount of decent discussion is ongoing, admins actively participate.

Medium: 1 post dated by October 6, 100 claps. Reddit sub is empty.

Key players.

The team

The team members are coming from UK, USA, and Vietnam.

Tri Pham is the CEO/Co-Founder of the project, coming from Vietnam. Tri has a Bachelor of Applied Science in Engineering Physics and Master's Degree in Marketing & Branding. Before KardiaChain (from 2014 to 2017), he acted as a Co-Founder of appFluke - a startup focused on bringing cutting-edge technology to everyday consumer products (precise-GPS detection in location-based messaging, computer-vision/beat-detection/voice-recognition in video processing, and object detection and tracking in enhanced augmented reality). According to LinkedIn, this company has one employee (Tri Pham) and there is no website mentioned. Apparently, this startup idea didn't get traction. As per the website, he is a blockchain enthusiast since 2013 and an investor since 2017 (Tri invested in various successful startups, in other words, ICOs).

Hung Nguyen is the project's Co-Founder. Hung is a financial analyst, he acted as a spring analyst at Morgan Stanley, then occupied analytic positions in Nomura (top-tier Japanese finance company with holdings in 30 countries) for 4,5 years. The website states that within Nomura Hung co-managed a portfolio of over $300m in market value. He has a Master's Degree in Finance (over 1000 hours of study of rigorous study, along with four years of professional experience to earn the designation).

Huy Nguyen is the project's Co-Founder. Huy has 6 years of experience as a Tech Lead Manager at Google. Prior to that, he worked as a Software Engineer at Cisco. Huy has been developing his LinkedIn page for quite some time and it does not make much sense why KardiaChain is not mentioned there. Currently, he is still mentioned as a Google employee. According to the website he has multiple US patents and papers in the fields of infrastructure and networking.

Son Tran is the project's Co-Founder. Son has 10 years of experience in solution architect and system development for top caliber fin-tech projects. Throughout the last 10 years he worked for a year on average in 7 projects as a Software Developer and an Architect: games, streaming, marketing, languages, cloud computing.

The team is rather large and experienced. The technical leads are coming from Google & Oracle, they also have gone through internships at Microsoft & Amazon.

The developers are less prominent, but they have enough experience working within Momo (a Vietnamese startup), various small and medium tech companies in Asia and worldwide as Software Engineers, Senior Software engineers, and Team Leads.

KardiaChain's CMO still works at the British finance company OSTC Ltd as a trader.

There are 4 more business developers with British education.

Overall we like the strong technical background of the team. However, some of them are still occupied with their primary jobs.

Important notes:

- most of the team members have few contacts in LinkedIn (50-150).

- 10 of 23 team members and advisors go under Nguyen surname, it may be a family project.

- the last 3 team members listed have links to their LinkedIn profiles broken.

Advisory board

Dr. Nguyen Khoi Pham is a former minister of former Minister of Natural Resources and Environment, former Deputy Minister of Science, Technology and Environment in Vietnam. He is of the Science and Technology Committee of the Association of Southeast Asian Nations.

Dr. Hai Son Le is a Vice Chairman of Committee for Ethnic Affairs in Vietnam.

We do not completely understand how these government officials may assist a developing crypto startup. Whether they will use its technologies in national programs or help with adoption within the national market is an open question.

Mr. Martin Juillard is an Executive Director, EMEA Head of Convertible Bonds Sales at Nomura (the largest bank in Japan). He has been investing in startups for more than 15 years.

Dr. Matthew Niemerg is apparently the technical advisor of the project. He is Ph.D. in Mathematics. Dr. Niemerg has been actively participating in the blockchain sphere since 2014 and holds expert knowledge about security models & consensus, cryptographic schemes, and business development for the projects with distributed ledgers.

Mr. Lan Ngoc Nguyen is a Chairman of MITEC JSC, a leading supplier of information technology products and services to banks and financial services organisations in Vietnam, with more than 20 years of systems integration experience. MITEC has relationships with leading global technology firms, including IBM, Oracle, Fujitsu, HP, Dell, Cisco, Wincor Nixdorf, and provides services throughout Vietnam.

Mr. Binh Huy Nguyen is a Chairman at Technimex, one of the top 3 largest tech importer of Vietnam with over 35 years of experience with many multi-million USD national-level projects in medical fields, industrial, science, R&D, oil filtration.

Mr. Lam Thanh Nguyen is the former CEO of FPT Software. He has been with FPT since the early days and played a pivotal role in transforming FPT into the largest ICT companies in the private sector in Vietnam with nearly 32,000 employees. In 2017, FPT recorded consolidation revenue of c.$2bn.

Ms. Trang Luu acts as Executive Director, Equities Division at Goldman Sachs, where she has gone through an internship.

Prof. Thang Huynh is a Ph.D. and a SEW assistant professor in the Department of Mathematics at University of California at San Diego.

The project has a total of 9 advisors. The majority of them comes from the real tech business or government. The project lacks solid advisors from the blockchain industry.

Technologies and the idea.

The Whitepaper documentation of KardiaChain project consists of two parts:

The first part describes the general positioning of the project and its fundamentals.

The second part represents a more detailed technical documentation.

The project's philosophy. Just like the Internet is a global 'network of networks', the world of blockchain needs to establish a unified interconnected network of various proprietary blockchains.

Interoperability between the blockchains. Currently, there are several projects aimed at blockchains' interoperability being developed (Wanchain, Oneledger, Polkadot, AION, and Kosmos), they implement sharding technologies, atomic swaps, sidechains, and relayers.  Nonetheless, they are still at the very early stages and share common drawbacks:

  • Their functionality is usually limited to transferring assets between chains and does not solve smart-contracts interoperability issues.
  • They aren't fully decentralised (oracles or AI mechanisms may be distributed, but meta and statistical data, which acts as a source for decision making, is being generally held on the blockchains themselves).
  • They are invasive, meaning that they require certain technological changes in connected blockchains (which can even lead to hard forks).
  • They have limited use cases (they are either financial solutions, private blockchains or significantly bound the connected networks).

Performance. According to the authors. another key point that influences the weak mass adoption of existing blockchains is their low-performance scores. Even after the introduction of sharding, Ethereum will be capable of about 1000 TPS, while the load of the modern information networks requires much more than that (Facebook 65000, Instagram 46000, Youtube up to 7 million).  

KardiaChain aims to build a universal fast blockchain network, which will integrate the existing blockchains on their asset and application layers, creating a universal global blockchain ecosystem.

The fundamental KardiaChain's solutions base on so-called Dual Master Nodes technology and some technologies designed for maximising the overall performance scores. As the authors state, their solutions are currently at the patent registration stage.

Architecture (summary).

Dual nodes act as a technical core of the project. The idea is that certain nodes (after staking) may become Dual, meaning that they would be able to directly interact with some (single) blockchain network. The main network may contain various types of Dual Nodes (for working with different external chains). Additionally, Dual nodes that work with the same network would be grouped in sub-networks with their own consensus mechanisms. The secure interactions with an external network are backed by a dual-signature algorithm (e.g. Shor's algorithm). From the architectural standpoint Dual nodes are comprised of 3 components:

  • Translator translates the algorithms written using Kardia unified Smart contract Language (KSML) to a bytecode that includes smart contracts for the involved chains, logic to advance the smart contract state machine on KardiaChain and to handle failures on other chains. Kardia Virtual Machine (KVM)  is an enhanced version of EVM with added cross-chain functionalities and processing external events from other participating chains. The KSML language is described as extremely easy to learn and use, being built on JSON & YAML instructions.
  • Router, which is an Inter-chain Machine-Learning Network Router (CMNR). Self-organised network technology is claimed to be used (it's widely used in cellular networks). This component conducts decisions about transferring compiled queries to the most suitable networks, based on a set of statistical parameters that come from the Ecosystem Knowledge (Eco-Know), which is the dedicated 'knowledge' base.
  • Aggregator analyses the updates that come from the external networks and compiles them into bigger blocks (potentially it is possible to compress all the transactions of an external block to one internal transaction of KardiaChain's network).

Master Wallet (the system's wallet) & SDK for developers with a user-friendly interface, a template for smart-contracts, API for more complex code and mechanisms for checking and testing are also worth mentioning.

The network implements two BFT dPoS consensus protocols: one ensures the main network's functioning and another is aimed at working with groups of dual nodes.

In order to optimise the network Elastic Sharding with Incentive Mechanism (ESWIM) is used. Nodes are capable of switching between the Dual (for working with a specific chain) and regular (not Dual) statuses or changing the external network it interacts with. A specific motivational mechanism is used for supporting the optimal balance of the amount of the external networks and the number of nodes that operate with them, it is base on the rewards' sizes in various cases. In addition to that ESWIM dynamically optimises the connection between the nodes of a particular group.

The proprietary utility (internally called as 'functional') token KAI serves as the embedded motivational mechanism for Dual nodes' owners and Validating nodes owners within the main network.

Technical documentation summary:

The Whitepaper of KardiaChain is a terrific fundamental paper that perfectly describes the general points of the project. The information is well-structured. Like any other Whitepaper, it's declarative, meaning that it contains only the main architectural and functional components with short descriptions of their capabilities without any detailed outline of how those things are going to be achieved. Nevertheless, even with such an approach, the Whitepaper contains 65 pages.

The succinct description of the project's technical details arises a number of questions, such as:

  • The thesis about the simplicity of the project's own algorithmic KSML language needs to be further explained, especially when it comes to basing on JSON primitives. An example might be helpful.
  • The CMNR router's role is not exactly clear. What does the choice of 'the most suitable network' mean? For instance, if a query requires interaction with Ethereum, doesn't it strictly determine the routing?
  • How exactly Eco-Know knowledge base is organised? In the beginning part of the Whitepaper, the authors critisised the centralised nature of such means of storage.
  • The transparency and non-invasive nature of the network are rather understandable, but when it comes to outlining high-speed performance, we would love to have a more detailed outlook. There is no mathematical proof that KardiaChain's score would be higher than, for instance, that of sharded Ethereum. We suppose that the testnet will shed some light on this aspect.

We believe that the community will compile a number of additional questions, answers to which are required for the full understanding of the proposed idea.

Addendum / summary / opinions

In terms of technical development, KardiaChain aims to the stars. To integrate the blockchain world in the most painless manner, without making changes to the external chains and on not only asset layers, but also on dApp layers, while keeping it as simple as possible for developers - isn't it a noble goal? The main concern is about the team's capability of implementing the things they have mentioned.

We would very much like to see dedicated blockchain specialists among the team members, but for the projects of today, it's a luxury to have. Overall the team and advisory board look very professional.

The obvious drawbacks of the project are:

-no MVP & code;

-no investors and partners mentioned (currently).

As a consequence, we can only evaluate the technical documentation and the team/advisors of KardiaChain at this stage.