The Use of ENDO to make data more reliable and trustworthy
With the coming of the Internet and the computers as well as our mobile devices, a lot of users don't feel safe as most of their personal data and information are being transferred over the Internet and they relinquish their rights to this data.
With this data, users tamper with them a lot and do falsify it, as such it makes them unreliable as there are numerous ways with certain apps and tools that can modify this data and make them untrue thereby reducing the integrity of such data.
In another aspect, whether the data seems to be true or false, a lot of data brokers and purchasers gain from the collection of such data and they gather and collect all the data from a users online activities and sell them to corporate bodies that need them. These companies but the bulk data from these data brokers and utilize them to place adverts suited perfectly to a customers need and income.
Problems
A users data is very delicate and due to its lack of verification and the fact that most of these data are placed in centralized systems make them so vulnerable to events of hacks and thefts in the main central database.
Another issue is the language translation barrier that makes data obtained from a German data broker inaccessible to a French company, and they need to hire the services of a translator to translate such information.
There is also a pertinent issue present in the data collection and that is the lack of data encryption which makes data to be very unrecoverable in the event of loss.
Lastly, there is untraceability of the user data as these data come from a lot of sources and its hard to confirm where it come from.
The ENDO Platform
This is a decentralised platform that was created to tackle all the issues concerning data and it focuses on the delivery of data rights to a users where they will have a total and full control over his or her data and can give access to usage in 3rd parties case.
It makes use of the transformation of the old storing of data in paper and make it digital to be stored on need. With this it will be able to store motor papers or company documents on the digital world and it has a sole prospect, to verify and store a user data.
This platform uses a system that will verify and encrypt data on its decentralized platform and will make use of the nodes in the platform transfer of data as well as a very efficient communication during the process.
It will also make use of the Distributed ledger technology to make and store data.
ENDO uses the distributed ledger technology in creating and storing available data. The blockchain will also feature in authenticating users while executing its smart contracts and decentralizing the system as a whole.
It also uses the Byzantine Fault Tolerance Consensus Algorithm as well as the Delegated Proof of Stake to produce a very fast and swift processing speed as well as giving it a low transaction costs for users and with this, it will be easier for developers to create any sort of DApps that suits them.
Applications
With the Endo, it can be applied in numerous fields such as the banks, hospitals, insurance, loans, schools and especially the Identity such as the KYC and the AML.
It can also be used in the elimination of ghost workers in a given institution.
Conclusion
With this platform, data and information will be more reliable than ever with the use of Decentralisation as well as the blockchain technology that will verify data as well as the control and regulation of this data and with it, users can feel more secure in it.
For more information, please visit
Website: https://endo.im
Whitepaper: https://endo.im/whitepaper
Medium: https://medium.com/@endo_protocol
Twitter: https://twitter.com/endo_protocol
Telegram: https://t.me/endo_en
Author - hamzeto
https://bitcointalk.org/index.php?action=profile;u=1189991