What Is Streamr DATAcoin?
As is quite clear for everyone to see, a majority of the data which powers the modern economic engine is delivered to customers through the use of streaming services. With the rise of the IoT, there will be a large upsurge in the creation of streamable content, most of which will possess some sort of monetary value.
Streamr is a blockchain platform that has been designed to tokenize streamable data, thereby allowing people to freely trade digital content through the use of a specialized P2P network. When using this platform, users have the ability to create a wide array of real-time data apps without having to spend countless hours writing code for them.
It is also important to mention that Streamr helps create a real-time data backbone for a completely decentralized network that offers users with features such as:
Non-interoperable data delivery
On this platform, users have the option to publish new data to data streams. This information can then be used by other network participants to power their apps, smart contracts, etc. Lastly, Streamr comes with a built-in incentive system that allows for highly effective data monetization.
OVERVIEW OF STREAMR
This platform allows companies, developers, and private users to connect with one another.
It serves as a global market that can facilitate real-time data exchange in a safe, encrypted fashion.
The project has a growing online community.
There are a total of 650,000,000 DATAcoin tokens currently in circulation.
Streamr comes loaded with a wide array of innovative features that allow it to make the entire dApp construction process much more streamlined. Through the use of an end-to-end pipeline framework, this platform makes data storage, distribution and processing quite easy.
(Visual representation of key features being offered)
It makes use of a drag and drop system that does not require a lot of technical knowledge from the users’ end. Not only that, the UI is quite modular and thus allows for the creation of apps that are perfectly suited to meet their needs and requirements.
We can also see that Streamr is highly compatible and can be merged with a plethora of external data systems quite seamlessly. As a result of this, information exchange with third-party handlers becomes simpler, and the entire transaction can be completed in a shorter time frame. Some of the platforms with which Streamr is compatible include:
Lastly, this platform provides users with the freedom to create their own streaming APIs. This can be done by simply tagging and embedding the desired assets onto the system. Once a stream has been created, the user has full freedom to edit it wherever they choose.
HOW STREAMR WORKS
Streamr makes use of a native currency called DATAcoin which facilitates all of the transactions that take place within its ecosystem.
(Overview of the functional model used by Streamr)
To understand how this platform works, let’s consider the example of a GPS tracker. The tracker provides users with real-time information regarding traffic and weather conditions, selects an optimal route by collecting various data sets, and then creates actionable information from them.
In the same way, Streamr provides users with an interface that makes real-time data exchange highly simple — primarily through the use of DATAcoin tokens.
Moreover, this platform can be scaled up as needed, thanks to a highly advanced core API that is able to process complex data streams and contact databases efficiently.
(Simplified stack representation of the platform)
Lastly, the Streamr Network is equipped with a framework that boasts high transaction speeds as well as security. Through the use of smart contracts, DATAcoin transfers can be executed in a self-governing manner, thereby allowing for faster buying and selling of data stream licenses.
Launched in late 2017, this project has become quite popular within blockchain dev circles. The people behind this venture include Henri Pihkala, who is a software engineer as well as an entrepreneur and algorithmic trader. According to his professional bio, Henri has been involved with the creation of a widely used “algorithmic trading platform” as well as other blockchain products.
Moreover, Risto Karjalainen serves as the company’s financial advisor. He holds a PhD from Wharton, and has been in the digital domain for over 10 years. According to his LinkedIn profile, Risto has extensive knowledge in areas such as:
Institutional asset management
Lastly, Nikke Nylund serves as a developer and consultant for Streamr. He’s worked for over 20 years in fields such as investment banking, corporate management and financial trading. Nikke holds a graduate degree from the Helsinki School of Economics.
TOKEN PERFORMANCE HISTORY
Streamr DATAcoin (abbreviated as DATA) entered the market on November 4, 2017. As can be seen in the graph above, the initial value of DATA was around US$0.072. However, the currency rose to a peak value of US$0.368 on the 7th of January, 2018. The price of a single DATA token currently stands at US$0.123 as of February 19.
With Streamr providing users with the ability to create real-time data processing applications, it would not be surprising to see DATAcoin attract a lot of interest in 2018.
Also, we have to remember that this cloud-based service is quite unique and provides customers with their own API development module. Thus, from a purely financial perspective, this project holds a lot of potential.
If you’d like to start investing in Streamr, DATAcoin trading pairs are currently being offered on Bitfinex.