Hello all how are you. Meet again with me Powerman001 who will review one of the ICOs who have just launched and have held a presale and will then go to the public sale stage. so those of you who have not participated in the ICO immediately take a position.
What is this ICO? I introduce IOVO.
What is IOVO?
The IOVO project has a unique concept and plans to create the world’s first global decentralized database, which will store a huge amount of analytical information. At the same time, all users whose data will be placed in IOVO, will fully control the level of their privacy and will be able to receive compensation for the use of information about themselves by third parties. But let’s first look at the situation with the storage and placement of human personal data in our days, which was the reason that prompted the authors of The IOVO platform to begin the development and implementation of their blockchain project.
IOVO (Internet Of Value OmniLedger) is a unique global open network
database for storing and exchanging information on any type of quantitative value asset. IOVO is a directed acyclic graph (DAG), the next
generation of blockchain, and serves as a data management and scoring
ledger. It does this by creating a universal global decentralised ledger of
all values and then publishing rating scores for individuals and institutions
across a range of sectors. Rating scores within IOVO are only accessible
by the entity being scored, and are only revealed as answers to particular questions. In this way, IOVO acts as a zero-knowledge proof platform. IOVO returns the control of data back to the people who generate it, together with the liberty to manage and monetize all their digital records.
Iovo creates an Ultra-scalable and extremely dependable platform and secure trust between parties. With Iovo ,it puts an end to data exploitations by big brands at the expense of the individuals who create them. Now data users are connected directly to data acquirers, with the Blockchain and DAGs technologies providing full transparency on how data is collected, scored, verified, updated and transferred.
THE BIG WAY OUT(IOVO’S SOLUTION)
Through Iovo unique and innovative solution which has been estimated that by 2025, as much as 70% of all current and future global
markets will rely on blockchain and DAG technology. IOVO recognizes and stores human value by accumulating personal data. It makes data an exchangeable asset secured by the distributed global public ledger. The tools built on
the IOVO DAG (e.g., dApps) will allow individuals and communities to benefit
from all personal human capital that can be captured by personal data.
ESSENCE OF IOVO ECOSYSTEM TO DATA VALUE
Ideally, the flow of data (collection, storage, management, exchange, etc.) defines the
structures of power in politics and economies. The centralization of all datarelated processes harms democracy and is the root cause of the current and
future decline in human value. Hence, there exists two key reasons why IOVO is so necessary:
- Large organizations harvest and process the data generated by the activities of nearly every human on the planet. Individuals have no control over
this, and they have no technical recourse to determine how their data is
used. Data is harvested and monetized while the individuals who generate
that data see no benefits. Once centralized, this personal data is easy for
unauthorized, often hostile entities to appropriate.
- There is a need for a cumulative universal database that can be easily
browsed and analysed. The IOVO DAG is a comprehensive network
database accessible to analysts and researchers from every conceivable
HOW IOVO NETWORK AND dAPPS WORK
The IOVO network and dApps
IOVO is a peer-to-peer network in which users can join it at any time and in other to start making transactions. Every user connected to the Iovo and Dapps network acts as a transmitter
of transactions. They are incharge of broadcasting incoming transactions to other nodes in the
network. This is to enable every transaction to reach validators in a fraction of a
second. The Validators in the other way are responsible for verifying the transactions as they come. They act as check and balance system as such as to check every transaction for correctness and run their smart contract code (if
present). Validators are incentivized and motivated to participate in this verification process
by the network rewards, which are distributed according to IOVO’s proof-of value (PoV) consensus algorithm, an extension of proof of stake (PoS).
In a centralized application network there is a central server (S) and clients
(K) which communicate with it. These client devices include smartphones,
tablets, and laptops. The IOVO DAG is a decentralized application network
system where all users are equal. Therefore all connections are distributed
evenly between random nodes within the network. The clients still exist, but
some nodes function as validators (V ).
On top of this network layer, all users can develop and implement decentralized.
As I’ve said before that the present data platform gathered customers data and resources without the customers figuring out how to pitch to associations which will pick up them huge advantages. The associations uses this data to acknowledge what customers are possessed with, for instance online notification, this data are use to bring advancement which customers are excited about. This has been a way various online platforms has been using to propelling their pockets which will end. IOVO has made a data business fixate on it platform which will enable customers contribute their data to trusted associations. The business focus will engage individuals to make benefits with their very own data other than pitching it to outcasts without the customers learning.
Individuals utilizing IOVO Will have ownership and full pro over their data organization. IOVO will give most outrageous security over customers data and the improvement of their data through the blockchain. This is something the current online data platform does not give, the limit with respect to customers data to be totally secure is IOVO require. IOVO has made it platform to give basic sharing of data through the decentralized applications (dApps). IOVO utilize the dApps to keep data sharing direct and tied down, collecting and sharing data utilizing decentralized structure database. IOVO as an omniledger will change into a making, secure and capable foundation for different quantitative respect association stages giving individuals, social and business controls over their online data.
IOVO has moreover influenced it to have token which depends on the Ethereum blockchain to be use on the platform to growing the advancement and standards of the platform. The token will be utilized as portion on the platform for data merchants and buyers. Rewards on the platform will in like manner be paid in IOVO token. The token will be recorded for trading on crypto trades to enable customers offer for various financial benchmarks or fiat.
For more information about the project visit any of the following links below:
Author : POWERMAN001