A brief review on Insights Network, a decentralized data exchange.
The Insights Network is a secure infrastructure for decentralized data exchange, which has a number of different applications. In the beginning it will focus on surveys, but it will also be the foundation for other applications, such as royalty schemes, advertisements, and loyalty schemes. The Insights Networks consists of the following components:
● Authentication
● User profiles
● Decentralized data brokerage
● Surveys
● Two-sided rating
In this decentralized platform, a requester is a user who places a request on the Insights Network to get information from a specific population of users. Providers are users who fulfill such a request. Requesters are typically organizations, but anyone can buy INSTAR tokens and use them to submit a request for data to the Insights Network. Providers are users who comply with a data request by providing data; the ones who fit a data requesters’ target demographic are compensated for their data in INSTAR tokens.
Anyone on the Insights Network, whether they are an individual or an organization, can publish a survey to the platform. The platform gives them the ability to specify a target demographic, as well as how many tokens users in the target demographic will receive when they submit a valid response. So, this platform ensures blockchain verifiable surveys.
This platform is building their protocol on EOS, an upcoming blockchain operating system. Though it is unreleased, it is being developed rapidly, and as of this writing, they are currently building on a local test node, as well as hedging their development by simultaneously building on Ethereum.
The sole motive of Insights Network is to deduct those middle man between the consumers and providers and thus, profit away from the intermediaries so that the users and providers can get the true benifit of blockchain Technology.
For more information head to their website and social media:
https://medium.com/@InsightsNetwork
https://twitter.com/instartoken
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