Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, Paypal, etc.). The blockchain is the technological basis for all cryptocurrencies, whether Bitcoin, Ethereum, Hyperledger, etc.
An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant’s database). It basically defines the conditions to which all parties using the contract agreement. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.
Blockchain and Smart Contracts open many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries.
For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
The project I’m going to present you is Prasaga (https://www.prasaga.com/), a project created to solve the problems of data exchange between machines, and provide support against cyber attacks that blockchain technology entails.
In more detail, Prasaga is a Foundation-based organization that is the author of the Blockchain DataGrid. A new blockchain and native currency project, encompassing developers, miners and token holders. Prasaga has gathered a collaborative community of developers, miners, and token holders across all social media and platforms and are trying to disrupt in several industry sectors such as decentralized finance (DeFi), supply chain, government, identity, currency and RegTech.
The DataGrid Blockchain (DGB) powers the platform and aims to be an evolution of the blockchain architecture giving a higher level of resilience against attacks, and rewarding its ecosystem of contributors. One of the most interesting things is that the platform scales in performance as more resources are added to the network, providing the maximum possible speed increases. Prasaga’s suite of products creates an underlying global foundation for all financial and other transactions, while protecting individual sovereignty and ownership/access of all assets and status.
Moreover, the DGB are catalyzed by the eXtensible Blockchain Object Model (XBOM) that provides increased speed of development, higher quality, and a future proofed development infrastructure through smart contracts. Basically, it builds a ledger that puts the coding, execution and settlement of
all asset transactions directly onto the blockchain.
Prasaga’s main goal is to build a future powered by the DataGrid Blockchain, where the blockchain network enables reimagining the global economy and improving the quality of life.
How it works
- Prasaga message server is the central infrastructure that facilitates the flow of data from IoT smart devices.
- Any IoT smart device anywhere in the world can connect to Prasaga and start transmitting data.
- Once the core infrastructure is in place, the next step is to create a common language that all IoT smart devices can speak and understand.
- Any device, old or new, can connect to the central infrastructure and start transmitting data without modification. The open standard used by Prasaga is an XML-based protocol that is already supported by IoT smart devices.
The token of the platform will be DGT. Its main function will be to act as a scalable blockchain that has a stabilized global currency.
The idea of DGT, is to be a token which in somebody will can invest in matures into a stable currency, providing intelligent governance to manage a dynamic currency. Besides, as said before, the XBOM technology will allow tracking all ledger activity to make the platform and the token trustables.
The token allocation will have several faces, promoting the maturity of the token. It is estimated that only about 3 billions of DGT will be circulating during first year, while about 100 billions in next 4 years of launching.
The project gives the opportunity to earn DGT tokens performing some social media tasks and doing simple steps from the bounty program explained into the following Bitcointalk Thread here (BTT_Thread_Prasaga), where you can access the link in order to see what are the conditions to become an early DGT contributor and start acquiring tokens.
For more information about the project, you can visit and read their WhitePaper available here (Prasaga_WP). You can also stay tuned in their official Telegram Channel (Prasaga_tg). I hope you liked the post and soon I’ll send you new ones.
Social Media Links
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Bitcointalk username: adriaparcerisas
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482
Proof of authentication BTT: https://bitcointalk.org/index.php?topic=5310375.msg56374620#msg56374620
Ethereum wallet: 0x3e10d9Cb6a5af372C00563aA19FEE3122A5C0Cd4