Overview of the allegations:

It is alleged that Sparkster has soaked up millions of dollars of investment capital and returned nothing in the way of a viable product. Almost a year after their inception and ICO, Sparkster have allegedly not even unlocked their token to the market.

Reports suggest that their original proposal was unrealistic and hasn’t ever been accomplished even in testing. The management team for Sparkster has ceased to engage regularly in AMAs and investors allege the team has nothing to offer in ways of serious announcements or a definite confirmation of progress.

It has been alleged that their premise was founded on the claim they were building a ”no-code platform” potentially running with tens of millions of TPS, on a decentralised network of devices. On the contrary reports suggested they only produced a website poorly developed and based on a copy of the open-source code downloadable from the MIT platform; investors also alleged that their promises were merely a tool to allure tokens buyers, suggesting that claims which inflated the capital raised at the ICO, were allegedly proved false, non-existing or misrepresenting the actual value of the project.

It is also allegedly reported that the underpinning idea of scaling up TPS by using a protocol diverse from proof of work is still a doubtful and unproven scheme, requiring much higher credibility than what Sparkster has to offer.