Essentia logo


ICO details

Token nameEssentia Token
StatusTo Be Announced
Funding CapBTC 31,900,000
Token nameEssentia Token
KYC/AMLNot Required


Essentia is the decentralized data management framework. ... Read more

Visit Website Read the whitepaper

Our Review of Essentia


Essentia aims to be the decentralised “connective tissue” between users and their digital lives. This is an extremely ambitious project but also a very exciting one. The team behind Essentia are strong, with three quarters of the project’s co-founders having experience in starting and scaling companies. The only concern is that perhaps Essentia is trying to accomplish too broad a vision and are taking on too much at once.

  • Concept

    Concept Rating
    26 /30

    Essentia tackles two related problems, the first being the commodification of individual data that is freely traded and constantly at risk of security breaches. The second being the fragmentation of current solutions to solve the aforementioned problem. Essentia plan to solve this by encapsulating the digital life of a company, or individual, in a decentralized manner - data would be encrypted and made accessible only by the owner of the data. The owner would be able to access their data, totally or partially, from any operating system or device, using a single seed known only to them. Essentia will create an operating system or “connective tissue” between the user, decentralized resources and traditional systems, and will, in essence, be a complete set of tools to create, access and operate a decentralised digital life and identity. There are many real life use cases for Essentia, for example, users could streamline KYC compliance, and access the biggest fiat to crypto exchanges all with one seed, without ever giving exchanges ownership of their data; or businesses could encrypt their data and allow employees to access all, or parts, of it from anywhere in the world.
    To facilitate this, Essentia are building a technical ecosystem comprised of software modules and hardware solutions including a hardware wallet (Essentia Keyware), an open-hardware machine specifically crafted for running the ESS-OS (ESS-Egg) and hardware extensions that are able to expand the capabilities of the ESS-Egg through their physical input/output layer which allows blockchain applications/smart-contracts to interact with the external physical world, as well as enabling IoT devices to interact with each other and feed data into the blockchain, effectively acting as decentralised oracles in smart contracts (ESS-Sense).
    It is currently unknown what the business model for Essentia is, or what the revenue source will be but the company will primarily use ICO capital to fund the project as well as consulting projects for large companies and institutions. The project has a detailed roadmap, however, this covers predominantly technical milestones and is virtually unintelligible to the non-technical reader. A live beta is already available, and can be tested by anyone, and includes integrations with 20 currencies and a number of DApps.
    Essentia appear to truly understand the problems they are endeavouring to solve and are able to communicate their vision convincingly and comprehensively. The primary risk with this project is its extremely broad vision, and apparent lack of business development strategy and defined achievable short-term milestones. It would be of benefit to the project to define sub-products and early adopter markets in order to build traction.

  • Team

    Team Rating
    20 /25

    Essentia has 34 team members and six advisors. The four founding members are very strong with the Project Lead, Product Lead and Operations Lead all having experience founding companies, which cumulatively employ over 150 people in three countries and generate $35 million per year in revenue. The fourth founder fills the role of Blockchain and Architecture Lead but has chosen to remain anonymous for privacy reasons.
    The tech and design team has 21 members and is also very strong; the CTO previously founded and was CTO at several companies, he also worked as a Technical Lead at Namecheap. Many of the developers also have more than ten years experience in their respective fields.
    The business and social team has nine members and is perhaps Essentia’s weakest team - there are three team leaders, Head of Business Development, Head of Marketing and Chief Marketing Officer, however, only one has significant relevant professional experience. Although, this is tempered by the founding team’s extensive business experience.

  • Competition

    Competition Rating
    13 /20

    Essentia are targeting several growing markets. Identity data is worth $1 trillion per year, and the cost of data breaches is projected to surpass $2.1 trillion by 2019. In addition, the global IoT market is forecast to be worth $457 billion by 2020.
    While the market is large, Essentia also face significant competition. Civic, Selfkey, The Key, Remme and Uport are all working in the identity sector. However, unlike these projects, Essentia doesn’t require a centralized app, email or phone number. In regard to being the “operating system for our digital lives”, Essentia will compete with centralised competitors, which could potentially build DApp integrations, such as Chrome OS and derivatives, iOS, Microsoft Windows 10 Cloud, as well as smaller projects like Remix OS, Phoenix OS, and Cub Linux. There are also blockchain OS projects starting to emerge such as FriendUP, Blockstack and Cardstack, all of which are aim to be the layer connecting users to DApps and the decentralised web. However, we believe Essentia has a significantly stronger team and vision than these projects.

  • Economics

    Economics Rating
    11 /15

    Essentia have a “Token Economics” document that covers how the token will work in detail. At a high level, the ESS Token will be used for the following: masternode with resource allocation, securing the network, compensation for internal and external services, generic exchanges, and distributed governance. There are also plans to use the token to incentivising good behaviour and contributions to the network, as well as providing exclusive resources to users who hold a certain number of tokens. This is a well-thought out token model that ensures ESS appreciates in value as different components of the Essentia ecosystem are adopted and utilised.
    The hard cap for the ICO is $32 million and token distribution is as follows: 46% to crowdsale, 18% to the founding team, 10% to advisors, 11% as project reserve, 10% to Masternodes, and 5% to bounties and promotions (3% for referrals, 0.8% for airdrop and 1.2% to bounties). There is a vesting schedule of 18 months with a 6 month cliff for team members and founders, and 6-12 months for advisors. Given the quality of the project, the team and their current social presence, we believe Essentia will reach their hard cap goal.
    Of note is the relationship between the non-profit foundation Essentia MTU and the for-profit corporation Essentia GmBh. The two entities are very interlinked so it is important that there is transparency regarding how fund are used. This is only partially addressed in the projects financial plan.

  • Presence

    Presence Rating
    9 /10

    This project has excellent presence and is a fine example of how to communicate with investors. There are three separate documents available outlining different parts of the project, they are: Technical Whitepaper, Business Plan and Foundation, and Token Economics. These documents are detailed and well-written. Our only criticism is the technical whitepaper is quite repetitive and verbose, and the business plan doesn’t cover business development strategy. While the design of the website could be improved it also covers all vital information thoroughly, except for token sale details which are only available on Medium.
    Essentia’s social media presence is excellent with a strong following on Telegram, Twitter and Facebook. The project also has a regularly updated official Medium page with well-written, relevant posts. The CEO’s also has personal Medium page which is updated regularly.

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Name Essentia The Codex Protocol NuCypher OneLedger
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ICO Start Date - - - -
ICO End Date - - - -
Funding Goal - - BTC 0 -
Funding Cap BTC 31,900,000 - - $ 1,500,000
Industry Big Data, Infrastructure Big Data, Infrastructure, Security Infrastructure, Big Data, Internet Infrastructure
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