Seeking to disrupt the exponentially-growing cloud data storage industry, IAGON is building a platform that will do so in a decentralized manner employing the blockchain, and using AI to add value to the data. By offering this valuable service, IAGON will be able to meet the growing needs of businesses and consumers.
The cloud storage industry is dominated by a few large players, such as Amazon, Microsoft, and Google, that are able to use their economies of scale to prevent competitors from arising. Some estimates put the market share of these three companies at over 90 percent. While this market dominance is beneficial to the companies’ shareholders, it comes at the expense of businesses that could benefit from better pricing brought by increased competition. According to Gartner, a research and advisory company, the industry will grow from about $288 million worldwide in 2018 to about $383 million in 2020. The rapid advancement of data intensive technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), is fueling much of this growth. Businesses are finding it convenient and cost-effective to store data on third-party servers.
In contrast to the centralized services of the dominant players in the industry, IAGON will reward users who share their free computer space and unused processing power to create the world’s largest supercomputer that offers data storage cheaper and with greater security. As a distributed network lacking a centralized storage center, IAGON will be able to offer better pricing for users, enabling it to gain a significant market share. Moreover, IAGON will use AI to secure the network and analyze the data to generate useful information from it.
The native token of the platform is IAG, an ERC20 token that runs on top of the Ethereum blockchain. While initially IAGON will be compatible with Ethereum, there are plans to make it compatible with the IOTA Tangle and other blockchains in the future. IAG will be rewarded to users who share computing resources, and will be used as payment for buying storage or data from the platform. No more than 1,000,000,000 IAG tokens will be created.
The presale for IAGON began on April 2, 2018 and ends April 30, 2018. However, for those who missed out on the presale, a main crowdsale will take place on May 15, 2018 and last 30 to 60 days. The project has an outstanding 4.5 ICOBench rating. Given the explosive growth of the cloud storage and AI industries in the coming years, the potential for IAGON will be massive.
*I am receiving IAG tokens for the growth of the community.
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