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Decentralization Begins To Control Networks For A Better Tomorrow

Cryptocurrency

Before the year 2017, there was made a huge investment in newly launched businesses which found a supportive direction into the crypto-currency market and the credit goes to venture capitalists who made it happen to the tune of around 1 billion dollars. But 2017 witnessed distinct events as numerous blockchain projects were able to raise more than $250 million while no clue of any such blockchain based project that had shown any interest in venture capital money. A pertinent question arises as to what is going on in the minds of those who are at the center?

We have scores of instances in our box of consideration, such as:

  • The SONM Project:

Decentralization

A super-computer with a global reach, fully decentralized and is apt for cloud computing. Clearly, NO central authority, just Bitcoin or Ethereum and the project enjoyed the funding of about $42 million when tokens were sold that were in the form of SNM bitcoin and esters. With tokens, one gets the power to buy and sell computing power. As such, if a person has gained or bought an SNM, he gets the power of “Great Sky”, that is he can get the power of miners or can retain them as a great asset. Further, if found costly, other currencies can be sought in its exchange as 1 SNM meant about $0.068 in 2017 while today’s value stands at $0.02743541 while value undergoes change with every passing day.

  • Gnosis:

Apllications

This comprises of prediction markets where one can put his prediction on sale or can even buy other’s prediction too. Such predictions are made on the basis of unrolling of events and those participating in it, pay when events seem certain as “oracles”. From this project, there was accumulated a whopping amount of around $12.5 million within 10 minutes frame.

  • Steem or Golos:

Cryptocurrency

Such is a decentralized Reddit and people get paid in lieu of contributing to news and in content.

Tokens Were Sold:

Blockchain became the major ground for crowd-funding for all of these projects and money was raised when tokens were issued and sold. People generally tend to consider this system as some novel way of attracting money which is Cryptocurrencylike a typical company selling the stock, but a close consideration will reveal the actual affairs which are beyond attracting money.

All mega projects had numerous prominent elements, such as:

  • The currency that was used in an application,
  • An app through which new investors could buy tokens from creators directly,
  • Simplicity with which Crypto-currencies (the tokens) could be converted into any other form of currency.

Not mincing words, all of these projects are based upon unique crypto-amnesia ecosystem where the central theme remains the creation of a business model which is fully decentralized and which is created to be tried. Participants share the collective ownership and such a business model could take shape only because of new possibilities as are uncovered by crypto-currencies and which are empowered by the internet.

In all of these applications which are marked as projects, there is one aspect which is pretty prominent, i.e. such are decentralized software protocols. By protocol, we mean a technical link through which people come together online and function in the union on precise objectives and goals.

In the internet world, we have following popular protocols, that are in use for a long time:

  • HTTP:

Decentralization

Prime protocol defining how data is to be transmitted over a given network, i.e. on the internet.

  • SMT:

This is simply Protocol meant for sending and receiving emails, with an email application.

  • SSL:

Decentralization

This protocol ensures information security and also secures our browser.

Decentralized Protocol Dictates And Operates A Network  

Decentralization

There are scores of successful companies who are built, function and who thrive on such a unique business model of decentralization. We have an example of “Uber”, Facebook, etc. To Uber, across the globe and in every city, there must be sister companies in support and who may be maintaining lists of drivers and passengers travel schedule. Likewise, there would be some local tech companies who might have collaborated with Facebook and who act on behalf of Facebook in local cities. As such, there is not just one mega company who owns and controls the entire network and that looks after all of the operations from one end.

There are projects like Bitshares, Steem which have developed own blackany while other projects were developed on major platforms on Bitcoin Coloured coins, Ethereum, Augur, etc, but all of these do not depend upon their platform and rely upon the protocol of blockchain. Experts opine that very soon, there will be tokens based upon major blockchain technology like Ethereum, and with many tools meant to help web developers to create libraries with inspiration from examples from platforms like Ruby on Rails or Django. There have been developed scores of web apps which help in hosting websites easily. For decentralized applications and to enable quick token change, a simple website can be crafted for the modern day developer.

When there will be an increase in the number of apps in the Apps Store and Google Play, the number of tokens will rise equally.

CryptocurrencyClearly, decentralized protocols operate and thrive upon the tokens and such marks the birth of the mechanism with which many more protocols can be designed which reflects that equal opportunity to everyone globally who has joined digital networks and he can buy and sell his share with ease. Such a phenomenon is the great innovation which world witnesses right now, as buyers and sellers are being benefited.

Tokens not only grow in stock markets but they also help the growth of software protocol and in this way, with tokens, we are enabled to utilize an innovation that such protocols have, which is the major asset of Internet economy.

Applications

In fact, all of the decentralized applications, protocols and tokens are based on prime digital concepts and are perfectly correct but then one tends to study and understand such trends to be more familiar with the tech. Basic protocols have modules and there are efforts to develop decentralized applications on many other protocols with specific tokens associated thereby. So, ZUFLO.io has a huge scope for growth in the coming future. Just like the stock market it has the potential to decide the inclination of the market.

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