MONET ICO REVIEW

azisjesika (52)in #steemit • 6 years ago (edited)

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About The Project

The MONET.network — an open network architecture for mobile ad hoc blockchains — enables groups of individuals involved in common tasks to form temporary connections, or networks, by using their mobile devices to coordinate themselves. This all takes place devoid of the need to rely upon third parties to handle their data. By creating an infrastructure for distributed mobile p2p applications, Monet is attempting to bolster the sharing economy by deploying blockchains to mobile.

Monet’s vision is to develop a system that does not rely on a specific server but is designed for mobile apps where the users can connect with each other for the length of time to accomplish the tasks that they need, without the constant presence of a third party mediating every single interaction.

In another word, the MONET Network — an open network architecture for mobile ad hoc blockchains — enables groups of individuals involved in common tasks to form temporary connections, or networks, by using their mobile devices to coordinate themselves. This all takes place devoid of the need to rely upon third parties to handle their data. By creating an infrastructure for distributed mobile p2p applications, Monet is attempting to bolster the sharing economy by deploying blockchains to mobile.

When several computers are interconnected, but no computer occupies a privileged position, the network is usually referred to as a peer-to-peer network. In this type of network, every computer can communicate with all the other machines on the network, but in general, each one stores its own files and runs its own applications. With a client-server network, one or more servers will perform critical functions on behalf of the other machines (the clients) on the network. These functions might include user authentication, data storage, and the running of large, shared, resource-intensive applications such as databases and client relationship management (CRM) software. Typically, both peer-to-peer and client-server networks rely on a shared Internet connection for access to external resources of these basic network structures.

The advantages of peer to peer network are as follows:

The main advantage of peer to peer network is that it is easier to set up
In peer-to-peer networks, all nodes act as a server as well as a client, therefore, no need of a dedicated server.
The peer to peer network is less expensive.
Peer to peer network is easier to set up and use this means that you can spend less time in the configuration and implementation of peer to peer network.
It is not required for the peer to peer network to use the dedicated server computer. Any computer on the network can function as both a network server and a user workstation.
The disadvantages of peer to peer network
A computer can be accessed anytime.
Network security has to be applied to each computer separately.
Backup has to be performed on each computer separately.
No centralized server is available to manage and control the access of data.
Users have to use separate passwords on each computer in the network.
As with most network systems, unsecure and unsigned codes may allow remote access to files on a victim’s computer or even compromise the entire network
Peer-to-peer file sharing pretty much began with torrents. They are a type of file sharing protocol specializing in larger file downloads. The way torrents are encoded make it easier to download a large file, and even reputable resources are beginning to use them to make downloading files easier for users.

Torrent downloads are basically downloading from multiple personal computer systems, simultaneously, and combining data at the end to form the file you were looking for. Problem is, that it’s WAY too easy to attach things to these files, and they just get swept into this whirlwind of information, broken apart and can easily invade your system after they’re reconstructed INSIDE YOUR COMPUTER, behind your firewall. After that, it’s just whether or not you have a good virus scanner that can detect it.

IP tattlers are a pain too, in that once you download something and activate it for the first time, it sends information to the watcher program containing the IP address of the computer you were using and where it was downloaded from. These watchers are paid by software development companies to bust people downloading non-free-to-play software.
One of the most asked question in this situation is, what am I suppose to do to use this awesome P2P technology?
This is where Monet Network comes into play.

Technology

MONET.network uses multiple ephemeral blockchains that users create via their mobile devices. Babble — a pluggable consensus mechanism suitable for mobile deployments — and Monet Hub — a perpetually on blockchain that supports the ecosystem and provides infrastructure for the first applications on the network — are key components that make it possible to create mobile ad hoc blockchains. The project’s whitepaper details how the Babble consensus and Monet Hub blockchain interact with one another.

The Monet.Network team have uncovered an additional weakness that they will be trying to solve. That is, that the current products and services offered on the blockchain are also working in a centralized manner.

This is very revealing of the current state of the projects in the space namely: Bitcoin, Ethereum, Ripple , Litecoin, EOS and others. Upon closer examination you will notice that some of the components are ran in a decentralized manner but the main blockchains of these projects are still controlled/maintained in a very centralized way.

So setting up a peer to peer transaction wouldn’t be possible – the entire blockchain would be aware of the transaction, the people involved and possibly the amounts of the transaction.
In essence, a lot of privacy is given up to enable the quick transaction times between 2 parties.
So Monet.Network is setting out to solve this problem in addition to the others that were outlined above.