Datum Review – Cryptocurrency Guide
Datum is a blockchain-based data administration company that means to enable us to control our own data. Here’s our Datum review.
What Is Datum?
Datum, discovered online at Datum.network, is a blockchain-based marketplace and data administration framework that intends to transform data into a safe, tradeable ware.
As the Datum site explains, “data is the new oil”. Datum has made an exchange for that product powered by Ethereum, BigchainDB, and IPFS.
The Datum pre-sale is taking spot all through August, with an ICO planned to begin on September 12. The project is being produced by a team in Switzerland, Singapore, and Hong Kong.
How Does Datum Work?
Datum works by providing a decentralized and distributed high execution NOSQL database in light of a blockchain record. The technology will allow anybody to reinforcement organized data (say, informal community data or data gathered from wearable gadgets) in a protected, private, and unknown way. At that point, Datum gives a marketplace where users can share or offer data all alone terms.
Today, individual data administration is somewhat of a wreck. We use interpersonal organizations “for nothing” by selling them our data. They pitch this data to sponsors, and the informal communities earn a tremendous measure of cash. We have little control or knowledge over where our data winds up, or how it’s being used. Datum plans to use the blockchain to return us responsible for our data. You can pitch your data to confided in associations – or, you can clutch your data long-term.
Decentralized Data Storage:
Datum gives secure, private, and mysterious stockpiling of organized data.
Miners running stockpiling hubs are paid for storing and providing low inertness access to data.
Datum’s marketplace allows users to share their data specifically or pitch their data to confided in elements.
The Datum ecosystem rotates around DAT tokens. data proprietors pay little measures of tokens to store their data. Capacity miners earn DAT tokens to store and transmit data. What’s more, buyers can buy DAT tokens to buy user data.
Datum will have a mobile app that guarantees to be easy to use. All data in the app will be scrambled before it’s sent to the network. Data is cleaned from specifically identifying information and examples. Also, app users appreciate quick reinforcements and data recoveries through locally close stockpiling hubs.
For instance of how the app works, Datum demonstrates a picture of the first page of the app, featuring symbols for Facebook, Twitter, Healthkit, and Nest Thermostat. You can see your “earnings” from sharing data through every platform. You can likewise empower or handicap data sharing with a straightforward flip.
The most effective method to Use Datum
Here’s the essential well ordered process a user will use to interact with Datum:
Stage 1) User submits data: Data is scrambled with specific use terms appended.
Stage 2) Storage hub miners spare data, and capacity hubs earn DAT tokens in exchange for providing that storage room.
Stage 3) Buyers procure data under terms. The buyer will buy DAT tokens. At that point, a smart contract will initiate off-chain key exchange to release data. DAT tokens are exchanged to the proprietor of the data, and the buyer uses that data according to the terms.
Who’s Behind Datum?
The idea for Datum started in September 2016, with the whitepaper and idea approval launching in June 2017. The pre-sale is taking spot all through August, and the token sale is taking spot between September and October 2017.
The company is driven by CEO and Co-Founder Roger Haenni, who likewise helped to establish StockX, SwissInvest, PCP.ch, and Kosi. Other key individuals from the team include Gebhard Scherrer (Operations, Co-Founder), and VC Tran (Marketing, Co-Founder).
Inside and out, the team has more than 80 long stretches of experience building extensive scale data processing and administration frameworks. The company is situated in Switzerland, Singapore, and Hong Kong.
About The Project
With a specific end goal to legitimately explain the thought behind Datum, we first need to give a touch of setting. As you know, our age is governed by data, in any case. Individuals make 2.5 quintillion bytes of data each and every day. 90% of the data pool we have today was made over the most recent two years alone and the said pool grows four times quicker than the worldwide economy. Normally, we should work on better approaches to deal with this huge group of information, which is the thing that Datum is trying to do.
A major level of available data is made by Internet users while they peruse, shop online or interact on informal communities. The central issue we should ask ourselves is: who possesses this data? Indeed, online services like Facebook, Twitter, and others are allowed to use, but they all store your own information in their gigantic data storehouses and can separate them freely, pitch them to promoters, mess with them, and adventure them in various different ways.
You, as the originator of the said information more often than not lose control over it the minute you agree to accept services gave by Google, Instagram, and so forth. You can appreciate “free services” in exchange for the abuse of your own data. For instance, Gmail is a totally free service but Google will read your messages and show you focused on promotions accordingly.
This is the issue Datum is trying to explain. Data originators don’t have control over the information they make, which is additionally misused with no extra reward. If effective, Datum will make a network keep running on a smart contract blockchain that’ll allow you to store your data from prying eyes, encode it, and offer it just if you so pick, as indicated at the specific beginning of this Datum review.
“If you are not paying for the item, you are the item.” – Andrew Lewis, 2010
So, the key components of the Datum platform go as follows:
- A quick decentralized data store, allowing platform users to safely store organized data;
- DAT token will empower data stockpiling and sharing;
- Data marketplace will allow users to adapt restrictive data all alone terms;
- Datum use IPFS and BigchainDB for a decentralized and infinitely adaptable data stockpiling backend;
Data storage and potential sharing are paid by DAT tokens.
With Datum, individuals, enormous organizations, and researchers will at present have the capacity to get the fundamental data, but they’ll need to regard the proprietors’ terms and conditions. Datum is pushing us toward another age where data is possessed by the maker.
Datum stakeholders will include:
Users – People who submit data by and by, from IoT gadgets or some other data source;
Capacity hubs – These are suppliers of processing power and capacity limit. Capacity hubs belong to the BigchainDB bunch, allowing the platform to store the submitted data on a worldwide scale;
Data shoppers – These are on the whole elements that desire to get to the put away data. You, as a proprietor, can give your data under exact conditions, either for a charge or totally free;
DAT token holders – Token holders will govern the network and “fuel” its capacity to process transactions.
Each bit of data put away will be set apart with utilization terms during the encryption procedure. Along these lines, the maker has full control over the utilization and sharing of the information. The use terms will be controlled by DAT token smart contracts.
DAT token will be used to empower data exchanges between makers and customers. The aggregate sum of issued tokens was 3,000,000,000 DAT, 1,530,000,000 of were available to be purchased. Note that no new tokens will ever be made. The price was set at 1 ETH = 10,000 DAT.
The crowdsale began on October 29th, 2017 13:00 UTC and last until November 29th, 2017 13:00 UTC.
Datum displayed its blockchain-based platform with a progressive thought of taking user-made data from the enormous organizations and returning it to the makers. If fruitful, it’ll give a protected ecosystem where makers have full control over their information and can store them namelessly or share them with interested gatherings for a charge. If you’re interested in the platform, look at our rundown of extra resources below.
Investigate this introductory video and digital recording on YouTube to additionally acquaint yourself with the platform.
You can likewise check Datum Facebook and Twitter pages for the most recent news.
Datum blog will furnish you with the most important first-hand information about the project.
Ultimately, you can investigate this subreddit for some extra opinions.
Datum has put its spin on an exceptionally questionable thought of stopping huge businesses from exploiting data without rewarding its makers. Despite the fact that we are hypnotized by the idea itself, it’ll be a long difficult task before goliaths like Facebook and Google surrender their constant flow of income.
A combination of elements like government council, streamlined access to considerably more user data than huge organizations can give, and unadulterated market weight may put a conclusion to data sharing as we know it, so it’ll be difficult but definitely conceivable. At last, it just bodes well to avoid the go between and buy the essential data from the makers themselves.
We would definitely suggest Datum as a sheltered investment since we haven’t seen any of the standard trick related warnings. With respect to the future, however, we can’t make sure since Datum goes against the interests of corporate mammoths. We can simply trust that advanced society still has enough quality for a deciding push toward the final data freedom.
How To Buy Datum?
While reading this review, you must be wondering about how to buy Datum. This section will help you to know how to buy Datum. First of all, you will need to know the exchange where you will be able to buy it. At the moment, you can make use of KuCoin to buy Datum.
Datum’s token sales are taking spot all through August, with the ICO booked for September/October. The company plans to change the way we oversee and control our data. It returns users responsible for their data, letting users pick which data they wish to share, and with which parties. Users can benefit off selling their wearable wellness tracker data, for instance, while preventing organizations from viewing their web based life information on Facebook.
Datum can possibly change the way we oversee individual data. Find out additional about the company today by visiting Datum.network.