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Time for another interesting decentralized project review on our network but this time, I am doing this on our blog and not in a video. But worry not, I will try to be as precise and descriptive as possible to make you understand what this project is all about.
First of all let’s try to understand what is DataCoin by Streamr?
What is Project Streamr?
Streamr delivers unstoppable data to unstoppable applications. It is the real-time data backbone of the global supercomputer. It is a decentralized network for scalable, low-latency, untamperable data delivery and persistence, operated by the DATAcoin token. Anyone – or anything – can publish new data to data streams, and others can subscribe to these streams to power Ðapps, smart contracts, microservices, and intelligent data pipelines.Derived from Whitepaper
This all new project from Streamr is designed to provide unstoppable data to unstoppable apps. It aims to serve as the real time data backbone of the global supercomputers. The main highlights are it’s decentralized, it’s scalable and offers low-latency, untamperable data delivery and persistence. It’s operated by the DATAcoin token.
Alongside the decentralized data network and marketplace, the full Streamr stack includes a powerful analytics engine and a UI for rapid development of real-time Ðapps. Data streams, smart contracts, and decentralized computing resources can be interconnected in a low-code environment using high-level building blocks. Streamr will be the easiest place to create real-time, data-driven, and trustworthy blockchain applications.Derived from Whitepaper
It also includes a powerful analytics engine and a UI for rapid development of real time Decentralised Apps. Recently, on our channel we made a video on another Decentralised app Sandbox which aims to bring Decentralisation to the Gaming Industry, Streamr on the other hand aims to provide support for rapid development of Decentralised Apps. The main development will be done using a low-code environment using high-level building blocks.
Why do we need Streamr Project for Decentralized Apps?
Being a person from Cryptocurrency, I must explain the need of a backbone for all DApps. As of now, the main backbone for DApps is missing and Streamr wants to be that link. This consists of a technology stack which essentially helps connect and incentivise the computers in a Global P2P Network.
Now I am going to give a bit of idea on what are Decentralized Apps and why are they needed?
As of now, we have apps like Facebook, Google, YouTube, Instagram etc on our mobile phones which are essentially owned by a single company or a group of people. In future, we expect apps which won’t be regulated by any authority and such type of apps would be called as Decentralised Apps.
There are both benefits and downsides of using DApps. Essentially, what I think about DApps, as I earlier said, they are not regulated by any single company or people. What that means is, no one can regulate it entirely. This is what most of the crypto projects are working for nowadays.
If you ask my opinion about Decentralized Apps, I feel that they can be a crucial alternative to the traditional apps which we have in the market only if in case they are regulated properly.
We see that some creators get banned across popular social media sites when they post something against their terms and conditions. Decentralized apps would solve this issue for people making content. This was just an example.
These are some of the portions from their Whitepaper.
Planned features for the usability layer of project Streamr:
- A visual editor for creating smart contracts, feeding in real-world data, and constructing off-chain data processing pipelines.
- Modules for communication with smart contracts and interacting with the blockchain.
- Modules for off-chain processing: Data filtering, refinement, and aggregation, deployment of decentralized applications, tracking smart contract execution, and visualising the flow of input data and blockchain events.
- A Solidity editor where the smart contract code can be written and modified in a context-sensitive environment.
- Built-in and tested open source Solidity templates for different use cases of Ethereum smart contracts.
- Playback functionality for simulating smart contract functionality, debugging contract code, and testing functionality before deployment.
- One-click deployment to submit a smart contract in either a testnet or in the mainnet.
The infrastructure layer uses the underlying Ethereum stack for its operations. Node coordination requires robust consensus, which is implemented through smart contracts. The raw event data itself usually doesn’t go into the blockchain, which together with partitioning allows the Streamr Network to scale to millions of events per second and higher.
You can check their site as well for more information regarding this and if you need any more suggestions or help, reach out to me personally in Twitter/Facebook/Instagram/Telegram anywhere as per your convenience.
Thanks for reading this article.
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