Idea & Token
Senno is an open source project for sentiment analysis that additionally provides an API for third-party apps. Being based on the NEO blockchain, Senno analyzes huge mass of user data generated in social networks (Twitter, Facebook, etc.), channels (Youtube, blogs, etc.), and other media to determine whether this particular topic is positive or negative, as well as the level of buzz about the topic. Then the analysis results can be used by businesses for a number of analytics tasks, such as targeted advertisement, brand awareness, user feedbacks, or different kinds of forecasts. Senno is resolving two major disadvantages of existing sentiment analysis systems – high prices and a lack of transparency. Each data source gets its own reputation scores that eliminates data manipulation. Data providers are rewarded with the SENNO tokens, the platform saves the data in distributed storage, then the data registry smart contract (DRSC) confirms that the storage contributor saved the data, the contributor receives the payment, then the sentiment analysis is performed, and the result is then sent back to the platform accessible the third-party apps.
The project’s token called SENNO is an NEP-5 utility token based on the NEO platform. It’s a primary currency that is used to pay app developers, hardware contributors, and network resource providers. The developers will have to pay SENNO for using the API. The tokens are also paid for sending referrals. A total supply is 10 billion tokens. The distribution is as follows: 40% – sale, 30% – rewards for contributors, 15% – company shareholders, 10% – advisors and partners, 5% – employees.
The Senno team consists of 12 professionals, most of which are developers or have a previous experience as a developer. The company is led by co-founders Elad Peled and Rudy Zakuto. Elad Peled is a founder of LibraTrade, a company that developed the world’s first smartphone trading platform. Rudy Zakuto was a cybersecurity advisor for almost 5 years, has more than 20 years of experience as a developer. They also have 9 advisors, including top specialists in the blockchain technology.
Senno is resolving two major problems of the sentiment analysis making it affordable even for small businesses and providing transparency into the data handling algorithms that eliminate data manipulation. The team is strong enough for the project of this scale, the whitepaper is thoroughly thought-out and clearly written. Among disadvantages we note the product that isn’t ready yet and won’t be ready until Q3 2018 (MVP) and Q1 2019 (SDK and API). The entire network will be launched in Q2 2019. One more challenge is engaging contributors, it’s still hard to predict how this process will go on and where the token pool will be enough for attracting the number of contributors required for successful platform operation.
A project that analyzes lots of users messages across different social media, defines topic mood and a level of buzz around it. Not a new thing on the market, but Senno makes this technology cheap and trustworthy.