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To learn more about this project, check out our deep dive of Streamr.
What Is Streamr (DATA)?
Streamr (DATA) is an open source project and decentralized platform that relies on cryptography instead of trust. It is a P2P, real-time data infrastructure that houses a platform and tools for a new data economy. The technology stack includes a scalable real-time messaging network (pub/sub) hosted on computers worldwide, a marketplace for trading/selling data and a set of tools for working with real-time data.
Streamr (DATA) was crowdfunded in 2017. The main idea is to create decentralized infrastructure and data economy; the mission was formulated by the developers as “Unstoppable Data for Unstoppable Apps.” Streamr tokenizes the value of real-time information and makes it available on their marketplace and data unions. This is built for DApps, IoT devices and more, and they believe this is a crucial protocol for Web 3.0.
The tasks of Streamr DATA coin include creating a comfortable and prosperous information market, which is built on the basis of a data exchange network that is convenient and understandable for users. How it works: the decentralized pub/sub network is supported by nodes around the world, who earn DATA tokens in exchange for the bandwidth and validation they provide.
The competitive advantage lies in the fact that it is an off-chain network (for example, when compared to a similar IOTA service). Therefore, the risk that the project will face scalability and bandwidth issues is modest. The intention of the Streamr team is not to create some special blockchain, but to focus on the development of network optimization technologies. If Streamr lacks the capabilities of Ethereum, developers can always transfer the platform to another blockchain.
Who Are the Founders of Streamr?
Streamr Network AG (the legal entity responsible for the implementation of the protocol) was incorporated in 2017 and based in Switzerland. The Streamr open source team consists of skilled programmers, financiers and software developers, distributed across various time zones.
Henri Pihkala is Streamr’s founder and CEO. He has a M.Sc. of Computer Science from Helsinki University of Technology. He has experience in software development for real-time data processing, along with 10 years of freelance IT consulting. Pihkala worked at RIQ Yhtiöt Oy and Hedgehog Oy as lead software engineer, and served as the founder and CTO of Unifina and Data in Chains.
Risto Karjalainen is founder and COO of Streamr. Karjalainen holds a Ph.D. in decision sciences from The Wharton School of the University of Pennsylvania. Prior to joining the Streamr team, he was a quantitative analyst at Buchanan Partners Limited, an analyst at JP Morgan and Wadhwani Capital Limited, and an investment portfolio manager at Merril Lynch and Estlander & Partners. He is passionate about real-time data and decentralized computing.
Nikke Nylund is co-founder and director of business development of the project. A successful serial entrepreneur, Nylund has helped found and grow companies such as Quartal Flife (acquired by Investis Ltd), Quartal Financial Solutions (acquired by KMU Capital AG) and Quartal Content Management (acquired by Satama Plc).
Michael Malka is the head of Streamr Labs. Malka has an educational background in computer science at the University of Helsinki and over 20 years of experience in the software industry, with roles from developer to CEO. Previously, he held developer positions at Bitwise Oy, RTSe, Quartal and was CTO, and subsequently CEO at Sujuva.
What Makes Streamr (DATA) Unique?
Streamr (DATA) is a project focused on seamless data exchange and monetization of this data. It’s a peer-to-peer (P2P) network for real-time data that runs on Ethereum, allowing smart contracts to be used to facilitate the exchange process.
Broker nodes are the key element of the network, which work as follows: data is received from providers (also called publishers) and transmitted to consumers – this is the publish/subscribe pattern that the network uses. Sponsors (which may be publishers) pay DATA tokens into a smart contract (called a Bounty) to secure the operation of the stream. The data stream is secured by broker nodes mining Bounties, and relayed to subscribers through publisher or broker nodes (data streams are segmented).
A number of technologies that have been developed to optimize Streamr are a hierarchically organized complex called the Streamr Stack. This complex supports uninterrupted data transmission in the Streamr network and consists of five blocks: smart contracts (responsible for optimizing relations between participants in the network’s information market); streamr editor (a set of programming tools developed for the purpose of the project); streamr engine (responsible for analyzing, processing, refining data and monitoring network events); data market (a center for data streams and a platform where data is transmitted and received); streamr network (used to transfer data).
Read about IOTA (MIOTA).
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What is a smart contract? Learn more here.
Take a deep dive into smart contracts and DeFi with CMC Alexandria.
How Many Streamr (DATA) Coins Are There in Circulation?
Streamr DATA is an ERC-20 token on the Ethereum blockchain. The token is used for the node reward mechanism and bids. Moreover, DATA tokens are a measure of reputation – the more tokens a node owns, the more weight it has in the community. If a node suddenly starts working with errors, it is simply excluded and traffic is not allocated for curation.
The token is a functional utility token in the Streamr P2P network – DATA is used to pay for infrastructure involved in data delivery. DATA can also be used as a payment token for data content on the Streamr marketplace, so it is an indispensable detail for the entire platform to function properly.
Upon completion of the crowdfunding in 2017, a fixed supply of tokens was created. As of July 2021, there is a total supply of around 1,000,000,000 $DATA. The token allocation is as follows: 65% to crowdfunding participants; 15% to the founding team; 15% to the treasury; 3% to partners and consultants of the project; 2% distributed among the Streamr community.
How Is the Streamr Network Secured?
Smart contracts ensure the integrity of Streamr, as they supervise every step of the data transfer process on the Streamr network. Smart contracts control the proper storage of information and the maintenance of the history of events within the stream. Furthermore, smart contracts distribute the workload between brokers and license data (for the sale and purchase of information).
The developers took the data security issue seriously; they have turned information into a product to provide its safety and reliability, so that a third party cannot get access. This is done by making the data encrypted and the key is held by the owner. As for the encryption method, any type can be chosen because the creators of the platform have provided the ability to integrate almost any option. Only the owner of the data decides who has access to information; the relationship between the owner and the consumer is regulated by smart contracts. This nuance guarantees a smooth and transparent process of selling (and buying) data.
Streamr DATA token is on Ethereum for a reason – this blockchain has already proven its reliability and efficiency. All payment data is recorded in the blockchain, which ensures user identification and data protection.
Where Can You Buy Streamr (DATA)?
Streamr (DATA) is currently available to trade on over 40 different exchange platforms. Several major exchanges that support DATAcoin include Binance, Uniswap (V2), Gate.io, Bitfinex, WazirX, Bancor Network, CoinDCX, Pionex, BKEX, LATOKEN, Omgfin, Hotbit, Mercatox, HitBTC, Folgory, Coinone, Hotcoin Global, NiceHash, Bitsonic, DragonEX, BiONE.
You can get more info on how to buy DATA, Bitcoin and other cryptocurrencies here.
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