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15 Insights on Ahoolee ICO

Jul 25, 2017 Posted /  6731 Views

15 Insights on Ahoolee ICO

15 Insights on Ahoolee ICO:

Ahoolee is the world’s first blockchain based decentralized search engine dedicated to online shopping worldwide. It uses a decentralized platform which collects details from all the shops around the world, compares the price of a product in all these shops and presents the best shop for a customer. All the earlier purchase history will be available on the platform. Also to make it more efficient, they are introducing a crypto token for the platform AHC token which is Ethereum based.

Let's see some of the Insights on this ICO:

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1. About Ahoolee platform:

Ahoolee is a platform based on blockchain technology which is specifically designed for e-commerce. It's more like a search engine with unique features, which are presented by the blockchain technology. It acts as a market place and helps people to shop online easily. It stores a database of all the shops in the world and it has the technique to compare the price of a certain commodity in all these shops. It has other many features too.

2. Problems solved by Ahoolee:

When you are searching for products with the help of a search engine, you will usually get a list of websites that mention the product. But there isn’t a single place where you can compare shops by price. You also cannot be sure that the product that you need is in stock because sometimes search engines find product pages with outdated information showing that the product is available, but in reality, it is currently out of stock.The online market place also has many disadvantages. All these problems are solved by the Ahoolee platform.

3. Mechanism of Ahoolee tokens:

The Ahoolee (AHC) tokens are based on the Ethereum fork. Any AHC owner can purchase products using AHC in any store represented on the platform at the current AHC exchange rate to the currency used by the store. THere is an internal exchange in the platform through which allows the users to buy AHC tokens using BTC or ETH, as well as USD, EUR, and RUR.

4. Ahoolee platform components:

The Ahoolee platform consists of three main components or key elements. The three blocks are Parsing, Matching and Search.

5. Parsing:

In order to collect information from stores, a decentralized parsing method uniquely for the Ahoolee blockchain is used. The key tasks that the platform solve are keeping the information about prices up-to-date and providing the most detailed information about products. It is important not to create a DDoS attack on the store’s website; for this reason, the fact that the price is up-to-date is confirmed based on smart contracts by a limited number of miners.

6. Matching:

Information about products that have been collected from stores is processed by different machine learning algorithms in order to consolidate the information about the same product sold by different stores in a single product card. Training data are marked by assessors. In this way, they solve the issue of the incompleteness of information on products sold in different online stores.

7. Search:

At the moment, the engine of the Ahoolee search engine is based on Elasticsearch and some heuristic techniques designed to improve the quality of search results. As more and more statistical data is accumulated from users’ search requests, they will improve the search results using machine learning methods, such as gradient boosting and neural networks.

8. Price comparison:

The price of a product from different online shops can be found and compared by the users in the Ahoolee platform. For facilitating this price comparison, there is a product card developed for each of the product available at the Ahoolee search engine. Ahoolee helps you to cut out the hours spent on the internet searching for the lowest price for the product you want to buy.

9. History of price changes:

As prices are kept up-to-date using the blockchain technology, all price changes are recorded in the blockchain. Thus, it will be possible to track all the price changes for all items in all online stores. For businesses, this will enable them to analyze the e-commerce market. Stores will be able to use this data for dynamic pricing. And manufacturers will be able to analyze changes in prices for their products in time.

10. Purchase history:

The data on all the user’s purchases made in AHC will also be stored in the blockchain. This will enable users to see such details about their purchases as the date, the name of the product, and the name of the store at any given time. This will save the user from having to keep a huge number of paper documents and will also make it possible to see if the warranty is still valid.

11. Stores need not upload their details to Ahoolee:

The Ahoolee search engine is an alternative format of an open search engine where stores do not pay for their placement in the system and neither do they upload their data to the system as the search spider collects data from the Web automatically. Currently, the Ahoolee database has 40 million SKUs and is being updated always.

12. Monetization of Ahoolee platform:

There are two ways by which monetization in Ahoolee search engine is accomplished. They are the premium accounts for stores and contextual advertising. Premium account charges $5000 per account. This way Ahoolee can receive almost $5 million from every thousand of premium account holder stores. Contextual advertising means $0.01 will be charged for every click. This can also cause a lot of profit if the number of visitors is very high.

13. Issuing of Ahoolee tokens:

A total of 100 million Ahoolee tokens will be issued. Among this, 20 million will be kept by the Reserve Fund to pay miners and assessors. These tokens will be kept in multi-signature wallets. 10 million tokens will be reserved for the Ahoolee team and partners and to hire new staff and for the further development of the project.

14. Ahoolee Pre-sale:

The Pre-sale of the AHC tokens happened in July with a goal of raising $200000. There were 10 million AHC for the Pre-ICO. They were able to raise the required goal in just 30 minutes time. The platform and Pre-ICO got wide recognition from around the world.

15. Ahoolee ICO seed round:

Ahoolee ICO seed round is scheduled from 28th August to 11th September with a goal of selling 25 million AHC Tokens. The Price will be 1 AHC = $0.15 - $0.4. They are aimed at raising Cap of $3,750,000. Cash raised in this round will go to the development of in-house blockchain as a fork of Ethereum, to wallet development, to mining launch, and to product marketing. By 6 months, they would have increased the number of SKUs in the system to 1 billion and the number of stores in the system to 50 000. And their ICO will occur in April 2018. 

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