FA Series I – Bismuth
Hello fellow crypto heads, today we are starting a new series here at Nix Crypto: FA altcoins. FA for those who are not familiar stands for Fundamental Analysis which is an in-depth analysis of a project, in our case a crypto-project or currency. Starting our series we have a blockchain platform: Bismuth.
Disclaimer: This article is not financial advice and we at Nix Crypto are not financial advisers. Please do your own research before investing. The information contained here is for entertainment purposes only and represents our personal taken on the mentioned project.
Announced in May/2017 on Bitcoin Talk Bismuth is, according to their own words: “a digital distributed self-regulating database system whose primary application is currency, and its first application is mining. It comes with a set of DAPPS out-of-the-box”.
It’s main differential and biggest selling point though is that it’s built with Python a well known and widely spread programming language. Using a established language brings many advantages reducing the risks of language bugs, as it happened with Solidity in the Ethereum blockchain and requiring a shorter learning curve for developers to write applications.
According to their documentation Bismuth is being built from scratch and takes a different approach from the majority of the blockchain projects by being based in modules and not requiring validation from all nodes which can, in theory, increase the throughput. However their documentation doesn’t offer much insight and how it can be done neither the trade-offs of their approach.
At the moment of this writing the only application I could only is a simple gambling platform that doesn’t offer much insights on regards to Bismuth capabilities.
The main developer, Jan Kučera, seems very knowledgeable and their codebase has been quite active. Apparently he is mostly working on his own apart from a few other sporadic contributors. While I believe in his capabilities I also believe that is extremely hard to build a solid global platform with only one or two devs and hopefully we will see the Bismuth team grow soon. Obviously there is the possibility they might be working on private repository but it hasn’t be mentioned anywhere.
In recent interviews Jan’s pointed as Bismuth current priorities: tidying up the codebase, in order to allow more people to contribute, and also works towards an overhaul on their logo and website. That all sounds great to me and he also mentioned working on implementing Masternodes which sounds great too but, in my opinion, shouldn’t be a priority, at least for now.
Overall the sentiment about the project is very good and I do share this excitement. Personally I’d love to see more platforms build on top of different languages giving developers and users more options and Bismuth would certainly add to the mix. As an investment it is the classic crypto high risk/reward project with low market cap and high potential to grow.