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As a modern technology, the internet has transformed people’s lives in many different ways, yet rapid changes in the industry have led to outstanding costs. In online tech development, the old saying “move fast, break things” has been dominating the market for over a decade. IoP, or the Internet of People, is a digital cooperative that is both leveraging blockchain and pioneering peer-to-peer technology to help connect and perform business operations free from any sort of obstruction or censorship and, at the same time, considerate of one’s digital privacy.
On a global level, companies harvest a lot more information and data than they will ever need. Some are unable to store it securely, whereas others misuse it. Data breaches happen on a daily basis, not to mention that many governments force companies to disclose the private information of their users. Centralized models run against the internet’s native concept to connect — which, in fact, poses many challenges. The only way to get through the barrier is pay up, either with data or cash. If things go sideways, the end user suffers the most.
When cryptocurrencies emerged, their main purpose was to eliminate intermediaries and put the power back into the hands of the people. However, the alluring concept of ICO fundraising has damaged the true value of digital coins. IoP entered the scene to make things right and put decentralization to good use. The crypto movement centers on providing decentralized services and DApps without breaching data privacy.
For users, IoP is an opportunity to make connections without giving up control of their data or dealing with third parties. IoP focuses on promoting the real value that privacy and decentralization can bring to the table, with services and a digital coin (IOP) designed to reward the IoP community by distributing block rewards fairly — while also reducing the need to consume outstanding power for mining.
From the way companies manage business processes to building software on the blockchain, Internet of People makes cryptocurrency truly transparent to everyone. Two main components make up the IoP: the IoP blockchain and the Mercury protocol, a node-based ecosystem for developing decentralized apps (DApps).
Global exchange platform CoinBene recently announced that it has opened IoP trading, thus expanding its mission to develop its digital asset portfolio. IoP is a DApp and payment enabler that uses decentralization to put users in full control of their data by joining the IoP network and using the IOP coin.
Currently running on a revamped version of the PoW consensus based on Bitcoin Core, IoP leverages whitelisted addresses to steer clear of the ASIC trap. The project introduced a new approach to the DAG consensus mechanism, virtual voting and the fault tolerance system earlier this year to streamline efficiency and transparency. With a market asset capitalization estimated at $2.8 million, the IOP token has a supply of maximum 21 million units.
By listing IOP on the CoinBene Exchange, the IoP project aims to increase its market share, as well as overcome its challenges and become a truly transparent internet of the people in the decentralized apps and payments space. Founded in 2017, CoinBene is an established exchange with customers in over 150 countries and more than $4 billion traded on the platform every month.
Last modified (UTC): August 1, 2018 19:42