My insight on IOVO Platform: "Dencentralized Data Ownership and Monetization"

etherium24 (45)in #ico • 6 years ago

In my previous published article (https://steemit.com/ico/@etherium24/extensive-independent-ico-review-overview-of-impressive-innovative-platform-internet-of-value-omniledger)
I tackled the backboned and the overview about IOVO platform. Now we will discuss what are the difference of this platform and its advantage over other projects. I know their still on their early stage but talking about their future development will give us a good head start. Now let's all talk in details what the IOVO platform has hiding on their sleeve that can really disrupt the market.

(Image source: http://iovo.io )

UNIQUINESS OF IOVO BLOCKCHAIN

In a typical blockchain system, ledger must be distributed and verified by all users and the miners compete for a payout. By the IOVO DAG, their system only required two confirmations per transaction. Thus, much lesser computing power and energy consumption is needed. We know that scalability is a wide range of debate over crypto enthusiasts and become apparent on inability to process large volumes of transactions. IOVO DAG, in theory which soon to unveil doesnt have a cap for scalability. Meaning that more transactions concurred on their network the faster the verification can proceed smoothly.

This is why the team is great to pick on DAG as the blockchain for database of IOVO. The IOVO DAG designed for a free environment where data ownership, storage and monetization can run smoothly on their platform. Im saying that if the blockhain used "sorry to say like ethereum" which clogged over the network itself cannot withstand a million of data transfer will be not an efficient way to run a ledger that support multiple layered quality data. Every person wants a smooth platform who will act as a service provider on their content and make sure that their ownership is credited within the system.

(Image source: https://bitcointalk.org/index.php?topic=4509519.0)

Take a look the above image to see how the typical structure on how it will work in the future. The IOVO analytics ( section where the data gatherers can search and scrutinize required data of clients) can access the uploaded data of the user on which can be paid fast using IOVO Dag. Data stored send by users on IOVO database has been securely keep with and no access directly from the clients. This is what makes a good ecosystem on a platform. Only IOVO analytics can transfer the needed data to the client without leaking the product's owner or should I say profile confidentiality. I think every content maker of data wants this way.

IOVO BUSINESS MODEL

In this time, we yet to see the full scale operation of IOVO DAG development since their still on ICO stage but the after enough funds were acquired, system expansion for the platform will likely to commence. In line with the development, IOVO has a branch called IOVO foundation whereas this group focuses on the development of a healthy ecosystem where new projects will be catered and entertained under the IOVO Dag and support them on techincal, legal, and marketing aspect to fully launch their project. Moreover, the IOVO network also offer an income model for early adopters where they have a chance to earn coins by approval of users of the transaction. The goal here is to increase user base rating and gain proportional value for each user. Nevertheless, the reward will increase in due time as the rating matured hence more income from the platform quickly escalate over time as profits will based from data providing and creating new ratings. This type of business model is not new but the difference on other project is that IOVO utilizing a faster "blockless" blockchain compared to other platform which give them a sole advantage on a competition in the data sector business.

If you want a full elaborated business proposal of their platform, you can read their whitepaper (http://iovo.io/assets/whitepaper.pdf)

WHAT TO LOOK OUT FOR?

In my perspective, IOVO Project have several advantages on the cryptomarket. Like their platform is built on DAG tecnology which is I believe the third generation blockchain that can fully synchronized their idea and concept on a system that works perfectly with their platform. It's not a typical blockchain that we are commonly familiar with known chain and blocks and for many reasons, blockchain have been struggled with scalability.

I admit that Im a newbie as well on DAG technology and as I scanned and learn from tip to tip details about it, I can say that it is a good combination with IOVO platform. With all the project I discussed with, I am confident that this project will survive and success later on. Im not encouraging you to invest on this, because ICO is a risk business which you should do a vivid and thorough review on the projects but I just want to share you this amazing platform which I believe has a great concept that can help cryptocurrency move forward in terms of innovation.

LATEST UPDATE

I write this article while their ICO presale stage still LIVE. The presale stage will run from October 25, 2018 to December 1, 2019.

Cannot wait how many interested people will joined the league of IOVO but I'm 100% confident with their success. Looking out for one or two of these kind of technology that could give you a competitive advantage over a thousand of projects line up everyday.

If you want to know the latest update about their project feel free to visit their official website and some social media links below.

Website:
http://iovo.io

Bitcointalk Forum Announcement Thread
https://bitcointalk.org/index.php?topic=4509519.0

Telegram:
https://t.me/iovoledger

Facebook: https://www.facebook.com/iovoledger

Twitter: https://twitter.com/iovoledger

Medium: https://medium.com/@iovo

Reddit: https://www.reddit.com/r/iovo

Github: https://github.com/iovoledger

Creator of this article:

Bitcointalk Forum URL:
https://bitcointalk.org/index.php?action=profile;u=1269701

Bitcointalk Forum username:
cryptoaddictchie