New Revolutionary Way of Storing Crypto

foxicoreviews (61)in #cryptocurrency • 6 years ago

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Satoshi Nakamoto introduced his cryptocurrency called Bitcoin in 2009 and it completely transformed the way we trade or interacted with currencies globally. Bitcoin's greatest success was its ability to capture the imagination of developers across the spectrum and develop into a global first-class infrastructure using open source software. It could also assure users of its long-term trustworthiness while guaranteeing evolution.

At the same time, it requires noting that the system is not without its own drawbacks major of which is lack of adoption. Researchers estimate that another billion users can be added through the efficient implementation of system policies. Other issues plaguing the sector include the high degree of complexity for the average user and the irrelevance of cryptocurrency in the goods market.

Sidera proposes a solution to consumerize cryptocurrencies through the use of a smartwatch and a contactless smart band. Sidera is a complete end-end solution for contactless and smartwatch retail point of sale. It includes a mobile application and PoS terminals that are made available through open source. Participation is incentivized by providing hardware and making the crypto industry and corresponding wearables.

Mission - Sidera has a very simple mission. To improve scalability and build a customer base for cryptocurrencies beyond the billion mark.

How does Sidera work?

Sidera revolutionizes the industry through the use of Decentralized Wearable Devices to store crypto. Bitsmart is a concept of smartwatches and bands focussed on cryptocurrency that provides users with an easy, handy and innovative way to manage the crypto environment. With funds secured around the wrist and fully encrypted and a plethora of other characteristics like offline transactions.

The features that make Sidera different from its peers include :

Wallet - This Bitcoin or ERC-20 standard wallet is used to store crypto off chain and on your wrist through the wearable device. It also comes with military level and multi-layered encryption.
Wrist-Wrist Proximity - Sidera exclusive technology allows users to send and receive EQS, Bitcoins and any other ERC-20 standard meeting token.
POS Payments - Sidera develops its Smartbit devices with an NFC module allowing users to spend funds globally in any shop.
Secure anti-theft system - Sidera guarantees users that their funds are insusceptible to loss of funds even if they lose their private keys due to its multi-layered encryption.
Sidera DWD are completely scalable, decentralized and global in its reach.
Other features offered by Sidera include auto-detection of transaction address, ghost mode where the watch seems like just another normal smartwatch, customized watch faces, QR generators, and price and trading alerts.
Continuum

Continuum is the first ever decentralized wearable and physical exchange that ensures that users can trade without having to rely on any central authorities. It guarantees anonymity and security through its scalable and modular system.

The Sidera blockchain uses a principle called Intersect where dApps, crypto functions, and transactions exist without causing an overload on the network. The Proof of Load protocol measures the state of the network throughout the nodes delegating some tasks to intelligent micro-nodes that lighten the network's workload. The blockchain also makes use of balancers to maintain network balance, validate transactions, receive network fees and distributing network tasks when surplus.

Sidera aims to use a portion of its revenues towards furthering the reach of three new generic domain extensions .bitcoin, .btc, and .blockchain which in turn will help strengthen the community of crypto developers and the crypto industry that contributed to Sidera’s growth.

Sidera also aims to distribute 1% of the funds it accrues through crowdfunding towards charitable organizations and relief operations.

Team, Advisors & Partners

Sidera was founded by Camillo Piscitelli who envisioned the project, Vincenzo Niglio, and Marco Doni - CEO. Other core members of the team include Heather Flannery and Shakil Ahmed of the Development team, Laura Ruggiero the CIO, Pierpaolo Episcopo and Raymond Chen pf the Business team and Nikita Sachdev - Sidera's brand ambassador.

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Advisors to the board include Raoul Chiesa - Cyber Security advisor, Stefano Della Valle - AI consultant, Khalid Cook - CEO of HostSailor, and financial advisors Paul Li and Mauro Andriotto.

Sidera has also partnered with organizations like Nexqo, Inscoin, Security Brokers, TokenSIM AG and SpritzCoin and a financial partner DE asset management.

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