Streamr DATAcoin (DATA)
This is the approved revision of this page, as well as being the most recent.
Streamr Datacoin review
Streamr is a blockchain company headquartered in Zug, Switzerland and founded by Henri Pihkala. The Streamr project was crowdfunded and its products are open-source. The company is primarily focused on data distribution technologies.
It is said in the Streamr Datacoin white paper that the amount of timestamped data that will be generated in the nearest several years will be too large to work with using modern data processing and collection technologies. The extensive growth of the Internet of Things and data collecting devices demands a generation of a lot of more new data that can become very useful. The Streamr Datacoin platform was developed specifically to provide a fast and sustainable network for the circulation of large data arrays.
In order to provide such a network, the Streamr team pointed out a number of key problems of the current data solutions. They are:
- Data security. The platform of Streamr Datacoin is developed to provide users with a guarantee that third parties would have no opportunity to damage, steal or change the data within the network.
- Data privacy. The platform will ensure that the data producer will be the only person to decide on who will gain access to the information that he or she uploaded to the network.
- Network bandwidth. The platform will have a bandwidth big enough to ensure that all the data transactions will be performed with a guaranteed speed and the network won’t be stopped by the growing amount of exchanged data.
Besides being a highly effective data storage, the same platform can be used for the establishment of a real-time data market. This market will provide its users both with free sources of data and commercial smart contract-regulated data storages. The peer-to-peer network, powered with millions private servers (PCs) will provide enough computing power for such platform, making it decentralized, distributed and robust.
Streamr Datacoin managed to gain positive feedback in the cryptocurrency community and got a number of respected partners. Some of them are Nokia, Hewlett Packard and Golem.
The network structure of the project is built with the Ethereum smart contracts and is powered with Datacoin (DATA) cryptocurrency, which is a utility token used to pay for the commercial data stored in the network.
Streamr Datacoin token
Streamr Datacoin (DATA) is a ERC-20 standard token that powers the network of the project. It is used by data consumers to pay for used data to data producers. The token is also used to reward developers and maintainers of the network. The total supply of tokens is 987 million DATA.
Streamr Datacoin (DATA) price and market performance online via CoinMarketCap:
Datacoin can be sent to any ETH address and used with hardware wallets like Ledger Nano S and Trezor. Datacoin is not minable and can only be bought and exchanged to obtain. However, the Streamr Datacoin team mentioned that the token isn’t necessarily tied to the Ethereum platform and it is possible that the development will continue on some other platform or on a new blockchain network built by the team.
Datacoin is also a basis for the karma concept. Karma is a reputation metric in the Streamr community. It is gained via transactions made to publish data, consume it and run broker nodes. Karma is decaying over a period of time if the user doesn’t perform any of those transactions.
Streamr Datacoin token is actively traded on multiple exchanges:
The company built a number of technological solutions to provide their network with constant development. All the solutions are based on the Ethereum technologies.
- Streamr Editor - a tool for visual programming and dapp development that is focused on the usability of its products.
- Streamr Engine - a tool for the event processing, analytics and automation of processes.
- Streamr Data Market - a tool that was mentioned earlier and is used for the monetization and community development on the platform.
- Streamr Network - a network of the Streamr platform that maintains data storage, delivery and provenance.
- Streamr smart-contracts - programs that ensure the fulfillment of the rules that were on which both parties agreed in the streamr-based agreement.