IOVO REVIEWS

jupitar (37)in #iovo • 6 years ago

In the world today, technology is really exceeding our wildest expectations and this technology has brought many enormous benefits to the world. In these our digital world,millions of people are generating large amount of data and this data are stored ,transferred and shared many times without our knowledge.

This data represent the human value and any time we are denied control or ownership of this data,we are robbed out of its intrinsic value. The value of this data is harvested by large commercial organizations.

Millions of people even institutions no longer own their data and this is the worst that could ever happen to anyone. This is because losing ownership of the personal data is just like losing ownership over your life.

In our diary activities each day,we generate data which is regarded as a registry of our lives which stores and reflects our intrinsic human value.

The human value together with the capital of every person is stored in the life time of the data they generate ,transfer and share with others.

So it is very obvious that this values are attributed to and same time owned by the individuals who generate it. So the IOVO platform which stand for internet of value omniledger is specifically designed to allow individuals and entities to reclaim ownership of their own data.

The platform will facilitates and automates the process of personal data management and monetization.
WHAT IS IOVO AND ITS MODE OF ACTION

IOVO is a directed acyclic graph (DAG) platform that is designed for various applications. It's main functions are to collect ,store and secure the users data shared with applications that is built upon the IOVO DAG.

This users data cannot be accessed by any other user without the original users consent. In case any user decide to store their data,the user will receive an agreed fee when the data is being accessed.

This user have the right to decide how much their data will be accessible to other parties and same time keeping complete control over it.

The platform will make available the infrastructure needed to create a new data economy and it will give the users the opportunity to monetize their data and access benefits that was previously available to the owners of the platform and applications. The diagram below is the overview of the IOVO network .The platform is necessary in two main ways

Many big organization harvest and process the data that is generated by the activities of every human on planet.

There is need for cumulative universal database which is easily browsed and analyzed.

The platform is a decentralized database ecosystem and its main is giving data ownership and power over data and its monetization to those whose lives generate it. It is designed to secure control over all the users data and how it is shared.

THE IOVO TECHNOLOGY
This is a high level value management features that is implemented using a highly effective distributed system of accounts and the series of transaction have many transaction systems and they include

(1) Standard transactions-... These are transaction that carries some value and a short message. This transactions are public and this messages are also visible to the whole network.

(2)Extended transactions-... These are script transactions that contain data and allows smart contract to be created and processed between the users.

(3)Transactions-.. This is the backbone of IOVO platform ,it carries out fast and cheap transactions between different accounts.

(4)Accounts-.. These are public keys which serve as an address and a private key used to sign transactions.

DEVELOPMENT OF THE PLATFORM

The platform will not really contain much data because it is going to take time to gather as much information as needed to be able to create valuable ratings.

However,the platform have decided to motivate people to participate in the early stage of the platforms development. Any time any user approve transactional,it means they have a chance to mine a coin.

The gains of the coins being mined is proportional to the users combined value. This methods encourages the users to increase their rating and this will in turn encourage progress towards more maturity.

IOVO WALLET
In the iovo platform,the only gateway for users to the IOVO network is through the IOVO wallet. The main function of this wallet is to provide access to basic functions and these include sharing of data,performing transactions using the IOVO coins and then aggregating all the data that have been stored by users. With the help of the IOVO wallet,the users can be able to generate multiple address which would be generated from a single master key.

CONCLUSION
The IOVO platform is an interesting system with so many features to offer to its users. The IOVO is an encrypted ,secure ,distributed ,democratic and human centric platform.

The main goal is to collect ,secure and store used data when shared with applications that is built upon the IOVO DAG. The platform has a nice and great concept ,so I will advice everyone to invest in this platform because it worth more than it is known for.

However, for more details,click on the following useful links and find out more to this awesome and interesting platform.