Which are the 5 Blockchain Platforms suited for Better Use of Data- Part 1

To Conquer Your Presence In The Blockchain Platform 

It is quite certain that the finance sector is being targeted by Blockchain technology. It gives them a solid platform to define what the application of the technology brings to the forefront of the sector. Hence it is important to carve out a niche in the ecosystem that helps identify the use of the underlying technology. Here we intend to look into the most important platforms that are best suited for the better usage of data. It is relevant to know which are the best and the worst when it comes to the decentralized ledger technology. 

Hereby blockchain is causing plenty of commotion in the finance sector and flipping the status quo for concepts that once flew low under the radar. Hereafter the technology industry’s constant vise-like grip on user data is one of these ideas as the people around the globe are becoming more aware of how their data is being used and profited from. Therefore the heroes of Silicon Valley and the greater tech sector gave free access to the online world but never explicitly informed the price of admission.

Hence the data generated from the online activities include the personal tastes and preferences, contacts in the network, and political opinions that are extremely valuable. Here the companies that want to sell the products or earn loyalty pay big money for insights into their profile but they never see a dime of it. Therefore it’s shuffled around behind the scenes for billions of dollars thereby not only putting them at risk but also making the target of relentless and eerily relevant advertisements whereas blockchain can change this situation for the better as many platform have already been developed to put the power back in their hands.

Arweave

Here this addresses the problem of peer participation in blockchain networks that store data. Here the blockchain environment has struggled to find a low-cost way to access data for a long time and even advanced solutions like Ethereum making it prohibitively expensive to keep large lakes of digital content and offer them to users. It was then that the users themselves often bear the brunt of a project’s storage efforts and aren’t rewarded in proportion to their efforts. Hence Arweave lauds its blockweave platform as a solution delivering a mixture of new blockchain technology.

Thereby the blockweave is a new system run on the proprietary Proof of Access protocol as it imposes a very low barrier of entry on new miners yet can enforce 100% safe and verifiable participation without the rigors of less sophisticated blockchain. Whereas it comes with a less burdensome model required for participation as it doesn’t require new miners thereby verifying the entire blockchain as it’s possible to provide the effective single pay storage and thereby be well compensated for it. 

O2OPay

While the current scenario is that offline data is valuable especially if it voluntarily offered it is because this shows that they’re happy to identify themselves by where they eat, where they entertain themselves and how they exercise, and more. Hereby O2OPay comes as a solution connecting users to the blockchain and paying them for sharing information about their day to friends, family, and brands in the network much like a social media platform.

The information is thereby arguably even more valuable than the internet browsing habits or Netflix queue as it tells companies what they are likely to do when they aren’t connected. Thereafter it is accordingly that brands will pay for insights into the offline activities on O2OPay offering promotions and prizes to users at their favorite shops or cafes and users can spend those O2O tokens that they surely earn in the store. Consequently, the company likens it to a personal airdrop of coins whenever they check-in at a restaurant taking a selfie at a bar, or tag yourself with friends where the information valuable to brands that can reach you in the same ecosystem.

The Continuation Of The Discussion

The list doesn’t end here as the blockchain platforms are even more vivid with many trying to outgrow the others. Here we bring you the best of the lot and then help you target the best for your service. Hence it is important to know which ones are the best suited for your type of business. We have the discussion continued in the next post that then helps you select from the best ones. Stay tuned for more from us in the coming posts.