DataBroker DAO: IoT Sensor Data Revolution

DataBroker DAO is an IoT sensor data market.

With a revolution of the Internet of Things (IoT) upon us, the data created by sensors becomes a great source of value. DataBroker DAO is a decentralized marketplace for the trading of IoT sensor data that will allow for its greater and more varied use.

Though there were an estimated 8.4 billion devices around the world capable of connecting to the internet in 2017, this figure is expected to rise to 30 billion by 2020. The market for IoT is also expected to reach $7 trillion by 2020. The proliferation of IoT devices is generating an exponential growth of the data they create, which has enormous potential value. DataBroker DAO will create a marketplace powered by the blockchain that will allow users to monetize and purchase this data in a secure and cost-effective way.

The blockchain on which this platform will be based is Ethereum. Ethereum is a second-generation blockchain that allows for trustless transactions with smart contract capabilities. Smart contracts allow users to automatically execute agreements without intermediaries when both parties have fulfilled their part of the agreement. This disintermediation has the effect of substantially lowering the costs of transactions, rendering third parties such as brokers as useless.

The DataBroker DAO platform will allow users of IoT sensors to transmit data directly to the buyers of data using smart contracts. This potential for monetization will be a boon for individuals and businesses, who can capitalize on this data for extra income. Businesses in particular will be able to offset the costs of purchasing and maintaining their IoT infrastructure by selling this data. Telecommunications companies, also known as gateways, will also be able to monetize their networks by making them compatible with the platform, thus collecting fees from the transactions involving sensor owners within their network. Buyers, in turn, can use the data in raw form however they wish or may use artificial intelligence to further derive more useful data to resell it at a premium.

The DTX token is needed to purchase data in the platform and is used to reward sellers and gateways. As an ERC20 token, it can be exchanged for other currencies and fiat currencies at exchanges. Of the revenues of transactions, sellers keep 80 percent, gateways keep 10 percent, and the platform keeps 10 percent. This reward structure ensures that all parties are incentivized to participate in the ecosystem.

From March 19 to April 25, 2018, DataBroker DAO will have a presale in which one ETH will buy 6,000 DTX. Starting April 26 and running for four weeks, the main sale will take place, during which one ETH will buy 4,000 DTX. This project is interesting in that it involves two exponentially growing and disruptive areas: blockchain and IoT. If DataBroker DAO can follow through on its roadmap and capture just a fraction of the IoT market, it will be a major global force with which to contend, potentially revolutionizing the industry.

*I am receiving DTX tokens for the growth of the community.

To find more information about DataBroker DAO:

Website: https://databrokerdao.com/

Whitepaper: https://databrokerdao.com/whitepaper/WHITEPAPER_DataBrokerDAO_en.pdf

Bitcoin ANN: https://bitcointalk.org/index.php?topic=2113309.0

Telegram: https://t.me/databrokerdao

 

Credits: Blockchain for Finance and IoT

Credits is a next-generation blockchain for finance and IoT.

Setting out to address the problems encountered by popular blockchain protocols, such as bitcoin and Ethereum, Credits has emerged to allow for scalability and its implementation into resource-intensive industries such as finance and the Internet of Things (IoT) that require speed and low transaction costs. Similar to Ethereum, the Credits platform is able to execute smart contracts and has its own cryptocurrency.

In order to meet the increased demands of the business world, Credits is designed to process up to one million transactions per second, with the goal of reaching 10 million in time. The average transaction time is three seconds and the cost of each transaction is a fraction of one percent. These features distinguish the Credits blockchain and will allow it to be used for finance and IoT.

Credits aims to resolve many of the fundamental challenges faced by current blockchain platforms. Among the issues the Credits platform aims to solve is the latency issue currently plaguing both bitcoin and Ethereum. Latency is defined as the actual response time compared to the expected response time. Transactions take more than ten minutes on average for both of these networks, whereas credit card transactions generally are done in seconds. For blockchain to truly revolutionize finance, faster transactions with faster confirmations are needed. Additionally, the lack of sufficient bandwidth capacity currently prevents bitcoin and to a lesser degree Ethereum from being used for everyday or microtransactions. The Ethereum network in particular accumulates tens of GB of data each week. By contrast, Credits aims to avoid the unmanageable buildup of data while retaining the benefits of blockchain technology.

For any blockchain protocol to meet the needs of finance and IoT, it will need to be exceptionally secure, which Credits accomplishes in some novel ways. For example, Credits uses homomorphic encryption, which uses encrypted queries at all steps of the iteration process. In addition, a hash search is done every time a new transaction pool is added to the registry in order to identify untrusted nodes. The Credits platform also uses federative decision-making to verify legitimate transactions and minimizing illegitimate ones. To prevent centralization, each node can be a primary or trusted node only once in a designated period of time. Finally, the number of nodes in the network can be continually increased to counter centralization.

To increase capacity, Credits will compress network data by up to 90 percent, allowing for faster loading of data. It also uses its own consensus protocol to make transactions faster. This protocol uses proof-of-work principles by calculating the mathematical function of all registry transactions. As part of its incentive structure, the owner of  the main network node is compensated with 50 percent of transaction fees, with the remaining 50 percent distributed to trusted nodes.

The Credits ICO will run from February 15, 2018 to February 28, 2018. During the ICO, the Credits token, CS, will sell at 5,000 for one ETH. A minimum contribution of 0.01 ETH is required, and those who contribute 10 or more ETH will need to go through a Know Your Customer (KYC) procedure that requires identification. A total of 1,000,000,000 CS tokens will be generated, and they will be the currency of the Credits platform. The soft cap for the ICO is $15 million and the hard cap is $20 million.

Given that Credits is designed to accommodate the needs of finance and IoT — the latter increasingly important for blockchain platforms to handle — the potential returns for investors are enormous. With over $3 million raised during the pre-sale, investors have shown plenty of enthusiasm for this novel project. If the roadmap is fulfilled, Credits will be among the leading blockchains used globally in the next few years.

*I am receiving Credits tokens for the growth of the community.

Disclaimer: Investing in cryptocurrencies carries significant risk. None of the material on this website should be construed as investment advice. While bitcoin is a cryptocurrency that has proven itself as useful over time, Credits has a lot to prove to the industry as a nascent project. 

For more information about Credits:

Website: https://credits.com/en

Whitepaper: https://credits.com/Content/Docs/TechnicalWhitePaperCREDITSEng.pdf

Credits ANN thread: https://bitcointalk.org/index.php?topic=2401248

Credits Twitter: https://twitter.com/CreditsCom

Credits Facebook: https://www.facebook.com/creditscom/

Credits Telegram: https://t.me/creditscom

IOTA

IOTA has risen to the forefront among cryptocurrencies by distinguishing itself as a non-blockchain cryptocurrency. It operates a ledger in a special category referred to as a directed acyclic graph (DAG), known as the “Tangle.” IOTA aims to provide the basis for the Internet of Things (IOT) given that the system allows transactions without fees and asserts unlimited scalability. Currently, the Tangle requires a central coordinator to validate transactions, though the developers assert that once the network grows big enough, it will truly be decentralized without the need of a coordinator.

The IOTA Tangle is the future of IoT.

Development of IOTA began in early 2015, as the development team sought to product a next-generation distributed ledger. Before founding IOTA, the development team produced Nxt, the first proof-of-stake (POS) cryptocurrency. The developers of IOTA have also set up the non-profit IOTA Foundation, which is based in Germany and houses the development team, in order to promote the Tangle and its implementation in IOT and other use-cases. Outlier Ventures, a venture capital firm, has invested seven figures into the project.

While some skepticism has been expressed regarding the Tangle, major corporations have collaborated or partnered with IOTA, including Microsoft, Bosch, Cisco, and Foxconn. Additionally, IOTA has collaborated with leading universities, such as Imperial College London, University of California at Berkeley, and University College London’s Center for Blockchain Technologies.

IOTA’s vision and its partnerships, along with a thriving community of users and investors, has catapulted the cryptocurrency into the top 10 by market capitalization. While the future remains an open question for IOTA, as it plods its way through the thicket of technological innovation, investors have expressed confidence that the development team is on track to meet its goals. If IOTA succeeds in its ambitions, its market capitalization is sure to rise exponentially from where it is today. Of course, when it comes to technological revolutions, an organization’s standing can be far from certain or assured. Only time will tell where IOTA will stand, and over time this picture is likely to become clearer.