When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of Datum.
Datum, a Swiss-based data trading exchange, aims to convert data into tradeable commodities. Powered by the Ethereum blockchain, BigChainDB and IFPS. The solution allows virtually anyone to backup structured and personalized data in an anonymous way. “Structured” essentially means, network, IOT, social network and wearables data. The NOSQL database that datum originally is, will be backed by a blockchain ledger to create a secure, anonymous and transparent marketplace where the owners of the data can trade it at their own terms.
Storage Nodes – Miners will run storage nodes and get rewarded when low latency access is provided.
Decentralized Data Storage – Private and anonymous storage of this structured data
Marketplace – The very core of the solution, where users can choose selectively the data they want to sell.
So, this network rests on the smart contract to incentivise the infrastructure behind the secure data trading.
Datum successfully raised 5000 ETH’s in their presale, and then went on to raise the equivalent of 7,2 million USD (at the time) in their main ICO in November 2017. What the team behind this project aim to create is a long-awaited solution, that digital marketers, influencers and other digitally based products and/or services have longed for. The main pain point the market has seen is feeling secure and backed when sharing the data. Datum has eradicated that insecurity with the blockchain integration, and therefore we see view them as a good market fit.
Finally, if you have concluded that this is the coin for you, congratulations! Buy Datum here.