Hi dears, another interesting project is being started. First of all, for who missed previous entry, what's a cryptocurrency? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.
All this racket of cryptomoney has been increasing exponentially, however, most people know nothing about how blockchain technology works, what a smart contract is and how it could be used. For this very reason, I will first of all carefully introduce this type of block chain technology.
Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, paypal, etc.). The blockchain is the technological basis for all cryptomontages, whether Bitcoin, Ethereum, Hyperledger, etc.
An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agree. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.
After this brief introduction to the broad topic of Blockchain and Smart Contracts, we can already see that this technology opens many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
For this reason, the project I am going to present you is IDM, a platform for the safe storage and exchange of data.
As I said before, IDM (https://myidm.io/) is a platform for the safe storage and exchange of data. It aims to create a decentralized global ecosystem that connects users who want to store information securely and the miners who provide memory on their devices to generate revenue. The platform is based on a patented data protection technology called SIZE and focuses on strictly defined segments of the consumer and business market, and takes advantage of a competitive market opportunity, namely the demand for secure data storage. Goals Apart from construct a solid decentralized global ecosystem explained above, the main objective of the IDM Platform is to raise funds for the development and scaling of the existing data storage service, combining SIZE, the innovative technology of post-quantum encryption, with the blockchain. How it works IDM converts the data in the user's device making it impermeable to possible hackers. Then, it distributes the converted data between the users of the System, the so-called, miners. Finally, it uses its own Blocking Chain System Technology to automate the administration of the service when making payments to users and miners. You have a representation of the entire system below.
IDM offers a unique cloud computing service for data storage and transfer, based entirely on the new technology.
The revolutionary technology for data processing, protection and transfer uses fundamentally new principles that have never been applied in the IT industry and offers the following advantages:
- The most secure data storage and transmission system
- Affordable price
- The only market player offering this level of data protection
- Intelligent marketing strategy
- Legal guarantee of data security
In addition, it allows users to have the following benefits:
- The highest level of data protection such as absolute encryption and post-quantum protection level
- The operating principle of the system does not allow the creation of a functional back door
- System configuration does not allow a successful hacker attack (MiTM)
- All metadata is generated and stored only on the users' computers and is never transmitted over the Internet;
- The service does not operate through DNS servers, therefore, all IDM activity is anonymous.
- A fully protected personal communication channel based on proprietary technology
To sum up, the most representative example to see what IDM can change is the following:
Before IDM After IDM
Date Event 2010 The SIZE algorithm was successfully tested on CamGrid network at the Cavendish Laboratory at the University of Cambridge in the United Kingdom 2012 Foundation of Equivalence AG 2014 An ultrasecure file-sharing program based on SIZE technology was introduced at "Hack in Paris" where the global hacker community tried to crack the algorithm without success 2015 The launch of a publicly available version of the BoobookBox for business and private users March 2018 Technology has been successfully tested in European cybersecurity laboratories April 2018 ICO for the global decentralized ultrasecure storage service IDM 2019 Launch of IDM service 2019 Development of the cloud blockchain platform (SaaS) based on SIZE data protection technology 2019-2020 Implementation of a marketing strategy for the promotion of the IDM service and SIZE technology 2020-2022 Development of a decentralized and distributed cloud platform (PaaS)
The project gives the opportunity to earn IDM tokens performing some social media tasks and doing simple steps from the bounty program explained into bitcointalk. Here (https://bitcointalk.org/index.php?topic=3399154.msg35590077#msg35590077) you can access to the link in order to see what are the conditions to become an early IDM contributor and start acquiring tokens.
Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (https://myidm.io/img/doc/wp_en.pdf). You can also stay tuned in their official Telegram group (https://t.me/idmprotect_en). I hope you liked the post and soon I'll send you new ones.
Telegram username: @clauming
Bitcointalk username: adriaparcerisas
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482
Ethereum address: 0xC6AB45541006D53D31E25b41c7d245c5Ad99BF71