Shentu / US Dollars (CTKUSDT) Coin Analysis 11/09/2023
Fundamental Analysis:
Shentu Chain is a security-focused delegated proof-of-stake blockchain designed for the secure execution of mission-critical applications, including DeFi, NFTs, and autonomous vehicles. The platform places a strong emphasis on cross-chain compatibility and operates as a Cosmos Hub with comprehensive compatibility for EVM (Ethereum Virtual Machine) and Hyperledger Burrow. It also supports eWASM and Ant Financial's AntChain. Shentu Chain offers a Security Oracle that delivers real-time monitoring of on-chain transactions across various protocols, proactively identifying and flagging potential malicious vulnerabilities before they can be exploited. Depending on their security score, audited blockchain projects from any protocol may qualify for ShentuShield membership, a decentralized reimbursement system designed to compensate users for crypto assets that are lost or stolen due to security issues. ShentuShield memberships are open to all community members of eligible blockchain projects, providing an added layer of security for crypto asset holders in case of unexpected events.
Projects on Shentu Chain have the option to code in DeepSEA, an exceptionally secure programming language supported by prominent organizations such as the Ethereum Foundation, Qtum Foundation, and IBM. DeepSEA seamlessly interfaces with the Shentu Virtual Machine (SVM), which is fully compatible with EVM. SVM introduces innovative ways to access, verify, and incorporate risk-related information into smart contract decisions. The native digital utility token of Shentu Chain is CTK, which serves as the core utility for various on-chain functions, including operating the Security Oracle and ShentuShield systems, covering gas costs on the Shentu Chain, and participating in governance decisions within the network.
ShentuShield is a decentralized membership system designed to facilitate reimbursements for lost or stolen cryptocurrency assets from any blockchain protocol. The decision-making process for reimbursements lies entirely in the hands of ShentuShield members, who can be blockchain projects or individual community supporters. Members have the option to participate in various capacities, either as Collateral Providers or Shield Purchasers. Collateral Providers contribute their own collateral, typically in the form of CTK tokens, and in return, they earn staking rewards on their staked CTK. They also receive a portion of the fees paid by Shield Purchasers.
Shield Purchasers, on the other hand, set aside funds from the Pool to act as a reserve for potential reimbursements of their own cryptocurrency assets. In exchange for this protection, Shield Purchasers pay a fee in CTK, which directly benefits the Collateral Providers. The CTK fees collected from Shield Purchasers are used to compensate Collateral Providers in the event of a reimbursement request.
This unique system fosters a collaborative ecosystem where participants collectively share the responsibility of safeguarding crypto assets and providing reimbursement support. It offers transparency through a list of publicly viewable and audited clients, ensuring accountability and trust within the community.
The Security Oracle comprises a decentralized network of operators equipped with cutting-edge security technologies, responsible for assessing the trustworthiness of mission-critical smart contracts, particularly those employed in DeFi applications. As compensation for delivering real-time, updatable security scores, these operators are rewarded with CTK tokens. The Security Oracle is designed for interoperability, making it compatible with any protocol. This interoperability empowers users of various protocols to make informed decisions before engaging with smart contracts. Smart contracts that have integrated the Security Oracle can proactively identify and block potentially malicious transactions, thereby mitigating the risk of cryptocurrency asset loss.
Although the Shentu Virtual Machine (SVM) is fully compatible with the Ethereum Virtual Machine (EVM), its architecture is inspired by the widely used x86-64 OS process model found in computers worldwide. There is also potential for future extensions to support arm64. The SVM introduces the capability to configure on-chain security parameters, allowing smart contracts to interact with one another in ways that align with their individual risk tolerances. Moreover, the SVM is designed to incorporate a smart contract sandbox, which isolates the operation of smart contracts, particularly those that haven't been adequately secured, from the broader system. This isolation enhances security and minimizes potential risks associated with unverified smart contracts.
DeepSEA is a highly secure programming language and compiler toolchain that seamlessly integrates with the Shentu Virtual Machine (SVM), Ethereum Virtual Machine (EVM), eWASM, and Ant Financial's AntChain. DeepSEA has received research grants from Ethereum, IBM-Columbia, and Qtum to advance its exceptionally secure programming language. When developers use DeepSEA for coding, the language automatically generates mathematical proofs to demonstrate the alignment between the intended specification and the actual code. This automatic proof generation enables a more comprehensive level of formal verification and correctness in smart contract development, enhancing security and reliability.
Technical Analysis:
We have applied Fibonacci retracement tools, extending from $0 to $3.97 the so called last great bullish cycle. Within this analysis, we have identified potential support and resistance areas on the chart based on the retracement levels.
In addition to the retracement levels, we have utilized Fibonacci projection tools to delineate additional potential support areas below the previous all-time low price. This projection is based on the most recent market cycle. Consequently, we have established two potential support levels at $0.45 and $0.2.
Furthermore, we have outlined three potential price targets using the Fibonacci retracement levels from the ATH cycle. These targets are anticipated within the next few weeks to months and are as follows:
First Target Price (1 TP): $0.85
Second Target Price (2 TP): $1.5
Third Target Price (3 TP): $2
These levels serve as key reference points for our analysis, guiding our expectations for future price movements.
Sentiment Analysis:
Considering the possibility of depreciation in the total market capitalization of cryptocurrencies and the price of Bitcoin (BTC) in the upcoming months, it is reasonable to consider employing a Dollar Cost Averaging (DCA) strategy for long positions at the specified support levels.
Shentu Chain is a security-focused delegated proof-of-stake blockchain designed for the secure execution of mission-critical applications, including DeFi, NFTs, and autonomous vehicles. The platform places a strong emphasis on cross-chain compatibility and operates as a Cosmos Hub with comprehensive compatibility for EVM (Ethereum Virtual Machine) and Hyperledger Burrow. It also supports eWASM and Ant Financial's AntChain. Shentu Chain offers a Security Oracle that delivers real-time monitoring of on-chain transactions across various protocols, proactively identifying and flagging potential malicious vulnerabilities before they can be exploited. Depending on their security score, audited blockchain projects from any protocol may qualify for ShentuShield membership, a decentralized reimbursement system designed to compensate users for crypto assets that are lost or stolen due to security issues. ShentuShield memberships are open to all community members of eligible blockchain projects, providing an added layer of security for crypto asset holders in case of unexpected events.
Projects on Shentu Chain have the option to code in DeepSEA, an exceptionally secure programming language supported by prominent organizations such as the Ethereum Foundation, Qtum Foundation, and IBM. DeepSEA seamlessly interfaces with the Shentu Virtual Machine (SVM), which is fully compatible with EVM. SVM introduces innovative ways to access, verify, and incorporate risk-related information into smart contract decisions. The native digital utility token of Shentu Chain is CTK, which serves as the core utility for various on-chain functions, including operating the Security Oracle and ShentuShield systems, covering gas costs on the Shentu Chain, and participating in governance decisions within the network.
ShentuShield is a decentralized membership system designed to facilitate reimbursements for lost or stolen cryptocurrency assets from any blockchain protocol. The decision-making process for reimbursements lies entirely in the hands of ShentuShield members, who can be blockchain projects or individual community supporters. Members have the option to participate in various capacities, either as Collateral Providers or Shield Purchasers. Collateral Providers contribute their own collateral, typically in the form of CTK tokens, and in return, they earn staking rewards on their staked CTK. They also receive a portion of the fees paid by Shield Purchasers.
Shield Purchasers, on the other hand, set aside funds from the Pool to act as a reserve for potential reimbursements of their own cryptocurrency assets. In exchange for this protection, Shield Purchasers pay a fee in CTK, which directly benefits the Collateral Providers. The CTK fees collected from Shield Purchasers are used to compensate Collateral Providers in the event of a reimbursement request.
This unique system fosters a collaborative ecosystem where participants collectively share the responsibility of safeguarding crypto assets and providing reimbursement support. It offers transparency through a list of publicly viewable and audited clients, ensuring accountability and trust within the community.
The Security Oracle comprises a decentralized network of operators equipped with cutting-edge security technologies, responsible for assessing the trustworthiness of mission-critical smart contracts, particularly those employed in DeFi applications. As compensation for delivering real-time, updatable security scores, these operators are rewarded with CTK tokens. The Security Oracle is designed for interoperability, making it compatible with any protocol. This interoperability empowers users of various protocols to make informed decisions before engaging with smart contracts. Smart contracts that have integrated the Security Oracle can proactively identify and block potentially malicious transactions, thereby mitigating the risk of cryptocurrency asset loss.
Although the Shentu Virtual Machine (SVM) is fully compatible with the Ethereum Virtual Machine (EVM), its architecture is inspired by the widely used x86-64 OS process model found in computers worldwide. There is also potential for future extensions to support arm64. The SVM introduces the capability to configure on-chain security parameters, allowing smart contracts to interact with one another in ways that align with their individual risk tolerances. Moreover, the SVM is designed to incorporate a smart contract sandbox, which isolates the operation of smart contracts, particularly those that haven't been adequately secured, from the broader system. This isolation enhances security and minimizes potential risks associated with unverified smart contracts.
DeepSEA is a highly secure programming language and compiler toolchain that seamlessly integrates with the Shentu Virtual Machine (SVM), Ethereum Virtual Machine (EVM), eWASM, and Ant Financial's AntChain. DeepSEA has received research grants from Ethereum, IBM-Columbia, and Qtum to advance its exceptionally secure programming language. When developers use DeepSEA for coding, the language automatically generates mathematical proofs to demonstrate the alignment between the intended specification and the actual code. This automatic proof generation enables a more comprehensive level of formal verification and correctness in smart contract development, enhancing security and reliability.
Technical Analysis:
We have applied Fibonacci retracement tools, extending from $0 to $3.97 the so called last great bullish cycle. Within this analysis, we have identified potential support and resistance areas on the chart based on the retracement levels.
In addition to the retracement levels, we have utilized Fibonacci projection tools to delineate additional potential support areas below the previous all-time low price. This projection is based on the most recent market cycle. Consequently, we have established two potential support levels at $0.45 and $0.2.
Furthermore, we have outlined three potential price targets using the Fibonacci retracement levels from the ATH cycle. These targets are anticipated within the next few weeks to months and are as follows:
First Target Price (1 TP): $0.85
Second Target Price (2 TP): $1.5
Third Target Price (3 TP): $2
These levels serve as key reference points for our analysis, guiding our expectations for future price movements.
Sentiment Analysis:
Considering the possibility of depreciation in the total market capitalization of cryptocurrencies and the price of Bitcoin (BTC) in the upcoming months, it is reasonable to consider employing a Dollar Cost Averaging (DCA) strategy for long positions at the specified support levels.