Sidera.io BRINGING WEARABLES INTO THE CRYPTO SPACE THROUGH THE BLOCKCHAIN TECHNOLOGY

highest01 (37)in #blockchain • 6 years ago

INTRODUCTION:

After the inception of bitcoin in 2009, the innovations of the blockchain technology has brought out several thousands of other crypto currencies. This is because as Bitcoin emerged, the concept behind it was just more than a white paper. The blockchain technology that accompanied the emergence of bitcoin has gained more popularity because of the transparency and the trustworthiness of the ecosystem. Despite the popularity of bitcoin and other crypto currencies, there are still some problems in the crypto sphere that does not allow for mass adoption of bitcoin and other crypto currencies.

PROBLEMS IN THE CRYPTO ECOSYSTEM:

THE COMPLICATED NATURE OF CRYPTO CURRENCIES - This has a lot to do with signing up of different account online account and managing of the different login details like password, private keys and the public keys as demanded by the blockchain technology.
INADEQUATE RELEVANCE - Bitcoin and other crypto currencies have not gain much relevance because a lot of people yet to see Bitcoin as Fiat money. There are so many things that could not be purchased with Bitcoin other crypto currencies. Crypto currencies can only be used to purchase to purchase other crypto currencies. This is the reason why Bitcoin and other crypto currencies are yet to be embraced by everyone. It is only when substantial products in the market can be purchased with crypto currencies that the needed relevance be seen in the crypto space.

THE SOLUTION:

It was based on the aforementioned problems that a group of professionals come together to see how crypto currencies should have a real life use in other to complement the innovations of bitcoin and the blockchain technology. Consequently, these thoughts gave birth to a Platform that is known as Sidera.io.

ABOUT SIDERA.IO

Sidera.io is a platform that is created for the consumerizing of the crypto currencies by allowing their use in retail point of sale(POS) through a smartwatch and contract less Smartband. Just like Bitcoin, sidera has the same properties of real implementation, open Governance and incentivization which allow for the fast global expansion.

PROBLEMS SIDERA.IO IS AIMING TO SOLVE

The solution of sidera to the crypto currency ecosystem is further elaborated in the following ways:

*** Real Implementation: Here, Sidera is bringing an end- to -end solution for contractless and smartwatch retail point of sale with a full-Stack reference implementation of every component.

*** Incentivization: Users that wIill participate in the Sidera network will be incentivesed through giving free hardware to retail stores in the initial target geography in Europe. Users in the platform are incentivized to take part in the Sidera network through ease of use and accessibility.

UNIQUENESS AND BASIC FEATURES OF SIDERA PLATFORM:

DECENTRALISED WEARABLE DEVICE (DWD):

Sidera scalable ecosystem has a new revolutionary way of storing crypto assets. This is called Decentralized Wearable Devices (DWD).

WRIST-TO-WRIST PROXIMITY TRANSACTION:

This is a technology that allows you to send or receive EQS, Bitcoin or any other ERC-20 token through wrist-to-wrist offline transactions. This doesn't have anything to do with any third party. It is completely a decentralised way of carrying out your transaction in an offline mode.

NFC POS PAYMENT:

This is an application that allows you to spend your crypto assets anytime and anywhere in the world. It uses a SmartBit device with NFC module.

SECURE ANTI-THEFT SYSTEM:

Considering the fact that security if funds is paramount in the crypto space, Sidera platform has provided a multi-layer security in case you loose your Bitsmart or your private key.

CONTINUUM:

This is the Sidera exchange. Continuum is the first wearable decentralized exchange that you can Carry on your wrist. With Continuum, you don't need any central authority before trading your cryptocurrencies.

CONCLUSION:

one of the paramount problems of crypto currencies has always been having a system that has a real life use case. With the outstanding features of Sidera platform these problems will be a thing of the past. I therefore enjoin all the crypto lovers to look into Sidera project and see reason to invest in the real crypto currency.