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What Is Streamr Network? How To Buy, Expectations And Predictions. Everything You Need To Know About DATA

In the future, we will have many self-driving devices in our society. For example, consider a self-driving and electric car. This car and other devices will need data to function as well as possible. For example, the car needs information not only about the location of charging points, but also about the price of these charging points. But also information about traffic jams, other cars and the weather forecast. All important information for this device that we also know as a car. This is exactly what the Streamr Network provides. They offer a data stream economy.

In this blog, we are going to talk about Streamr Network and its DATA token. I’m going to explain to you exactly what Streamr is and how it works. We are also going to investigate the team behind this project and take a look at the course. If you want to know where to buy the DATA token, you’ve come to the right place.

Note: Please note that the text below about ‘Streamr Network (DATA)’ as well as the explanation thereof should in no way be taken as advice. The choice for whether and in what way you want to trade (crypto) and which choices you make in terms of investment is up to you and you alone. We are not financial advisors.

Here you can first watch a video showing how the Streamr Network works.

What is Streamr Network?

Streamr Network is an open source, off-chain network that exchanges data and thus also aims to generate revenue for those who provide data. It is built on and for Ethereum . It is a Swiss based project, but the team behind Streamr is Finnish.

It seems the intention is that the off-chain part of the system can run on multiple blockchains. Via smart contracts , it then enables both machines and people to exchange data on their network. The network now provides a marketplace where this data can be traded. Ultimately, they want to break the monopoly of data revenue that large companies have set up with their cloud services.

The data offered on such a marketplace then offers information with an almost endless number of different applications. Developers and users have access to data streams on the Streamr network that are needed to run their dApps. For the IoT (internet of things), machines can transmit data to each other from every corner of the world. However, you can also easily upload your gym workout data from your smartwatch or via Strava, and this information can then be used by research teams for health or exercise studies. There are still more applications to consider.

See how this is schematically represented in the following image.

Unstoppbale data from Streamr

https://s3.amazonaws.com/streamr-public/streamr-datacoin-whitepaper-2017-07-25-v1_1.pdf

How does the Streamr Network work?

The Streamr Network consists of publishers, consumers and brokers. The data packets are submitted as ‘events’ in the data streams of the network. Some parts of the data packages offered by the publishers are free. For other parts, however, you have to pay with DATA, the network’s native token.

Then there are broker nodes, which are the main architectural feature of the network . They are responsible for handling the various tasks such as publishing events, subscribing to streams, processing storage and communicating with Ethereum nodes.

Because sharding is used, or also known as partitioning, not every node is responsible for all traffic on the network. Partitioning speeds up the processing time of the data, and each node is only responsible for a small portion of the data on their partition. The nodes are paid in DATA for their work.

Nodes must, however, provide checksums to other nodes for joint assessment, so that the whole thing remains reliable and fair. If a node provides incorrect checksums, or no checksums, or the checksums are incoherent, they will not be paid out. The chance that they will be given even more work afterwards has also decreased.

The process of this data transfer is controlled by smart contracts. They are responsible for storing information in a data stream, delivering the work to broker nodes and maintaining records of a stream.

What is the Streamr Stack?

The Streamr Stack is a multi-layer technology stack that supports the data supply of the network. It is a top-down protocol and looks like this as in the image below.

The Streamr stack

https://s3.amazonaws.com/streamr-public/streamr-datacoin-whitepaper-2017-07-25-v1_1.pdf

Let’s take a look at these five parts one by one.

The Streamr Editor

This is the developer kit, but in the Streamr version. It makes developing on Streamr possible, because this editor makes designing efficient dApps and smart contracts more accessible and it has templates for the most common applications. According to the team, due to the commercial growth of the ecosystem, you need the right tools so that you can still get started even if you are not an expert. Think, for example, of creating smart contracts, connecting to reliable data sources, using secure modules for filtering off-chain data, implementing decentralized applications and more applications.

The Streamr Engine

This engine drives the off-chain data analysis, then processes and refines it . The raw data is processed in such a way that a dApp or smart contract can also use it. This way there is no overload of information. The data must therefore first be filtered, downsampled (convert a higher frequency to a lower one), aggregated and combined with other data. Then it is run through algorithms that recognize anomalies or is processed by advanced machine learning and pattern recognition models. That’s a mouthful and this engine is responsible for that. The engine monitors the network for events (=data packets, remember?) and processes all new data and responds to events that happen in real time.

The following chart shows a typical pattern of data flows and results for the Streamr analytics engine.

The Streamr Engine

https://s3.amazonaws.com/streamr-public/streamr-datacoin-whitepaper-2017-07-25-v1_1.pdf

The Streamr data market

This market is a global stream of shared data and information that anyone can contribute and subscribe to. With this data you can earn money by selling it . It is an M2M (machine-to-machine) data exchange. Some of the data or data packs are free, some are not, and you can buy them. You can purchase this data through a subscription that is processed in the smart contracts. There are all kinds of different dates possible to trade in.

  • Stock Exchange —  All transactions that take place.
  • Smart sports clothes —  Biometric information such as heart rate, temperature or an acceleration.
  • Air quality —  Carbon monoxide, sulfur dioxide, nitrogen dioxide and ozone levels.

There are still more options available, but all this data can be retrieved and traded.

The Streamr Network

This is the layer that controls the transport of the data . The broker nodes set up a P2P network, as it were. The network has a publishing and subscription mechanism under management and supports a decentralized storage of data, or events to stay in Streamr jargon. The throughput of information in the network scales linearly with the number of nodes participating. In this way, the network processes millions of events per second without any problems.

The diagram below shows this in a clear way.

The Network in a diagram

https://s3.amazonaws.com/streamr-public/streamr-datacoin-whitepaper-2017-07-25-v1_1.pdf

The smart contracts

The entire network is kept running by the smart contracts. It also ensures the integrity of the network. The Data Market builds on features provided by the Network. This is done by licensing data and generating revenue. The DATA token is therefore used by both these layers as a source of income, as a measure of reputation and you can pay with it on the network.

Who is on the Streamr Network team?

Although this project is based in Switzerland, the team is mainly from Finland. They are all guys with Masters and Ph.Ds, so they are all techies and good at their field.

  • Henri Phikala  — Co-Founder and CEO. He is a software engineer, serial entrepreneur, and ex algorithm trader. He likes complex architecture, scalability, usability and the blockchain !
  • Risto Karjalainen  — co-founder and COO. He is a data and data scientist and finance pro with
    a PhD from the Wharton School. His interests include real-time computing, machine learning,
    evolutionary algorithms, behavioral finance, the blockchain and fintech in general.
  • Nikke Nylund   — Director of business development. He is a former low-latency algorithmic trading strategist.
  • Michael Malka  – Head of Streamr Labs. Has 20 years of experience from software development to CEO. He studied computer science.

Looks like a nice bunch of nerds sitting there (with all the good intentions of the word!). Together they add a considerable amount of experience to the project.

What is the DATA token?

The DATA token is an ERC20 token. The token is used to reward the nodes . Furthermore, the token is important as a reputation measure. The more tokens a node owns, the more important the node is in the community. The moment a node starts working with errors, it simply gets locked out and gets no more work.

To provide data, you also use DATA tokens to pay.   You can also pay with DATA on the Streamr marketplace. So it is a functioning utility token and important for the whole network.

There is a total inventory of 861,800,042 DATA, with 767,121,867.27 DATA in circulation. The ICO that ended in October 2017 raised $27 million.

The tokens are distributed in this way.

Token distribution

https://messari.io/asset/streamr/

  • 65% went to the participants of the ICO.
  • 15% went to the team.
  • 15% has been credited to the company coffers.
  • 3% was for the partners and advisors of the project.
  • 2% goes to the Streamr community, over time.

Most of the token is also locked. Unlock will last until 2026.

Supply schedule of the DATA token

https://messari.io/asset/streamr/

What is the price of the DATA token?

If you want to invest in the DATA token, a good start is to know what the price is. If you are already going to trade, you also want to make a profit. You can make a technical analysis to see what the best buy or sell moment is.

The price of the DATA token started in May 2017 at $0.078. Fairly quickly, the provisional ATH was reached on July 1, 2017 with a price of $0.3426. After that, the price also fell again and between July 2018 2019 and February 2021 the price was mainly found in the red range. The low was reached at $0.00613. Then the price regained a more positive impulse and rose to $0.2578 in April 2021. At the time of writing, September 2021, the price is $0.1306.

At  CoinMarketCap  , it is just inside the top 400 at place 392. This coin has a good prospect in my opinion, especially if Bitcoin continues to rise in 2021. It has been making a good comeback since the beginning of 2021, and has been in the green since February , then you have to zoom out. If you want to invest in this coin, it is important to do your own research.

Where can you buy the DATA token?

The DATA token is for sale on Bitvavo  . Bitvavo has included this coin in its offer at the end of August 2021. Several CEXs also offer this coin, such as  Binance  and Gate.io. There are also many liquidity pools on DEXs like Uniswap where you can find a DATA pair. However, if you live in the Netherlands or Belgium, the easiest way to buy the DATA token is through Bitvavo. Click on the widget below, and you can easily buy DATA.

What is the best way to store the DATA token?

You have several options to save this token. The safest way is to store them on a hard wallet , also known as a cold wallet . With a hard wallet, such as the Ledger X or S and the Trezor, you are protected against internet hacks.

You can of course leave your DATA token on the exchange where you bought the token. However, now you do not have access to your private keys. The private keys of an exchange remain in the hands of the exchange itself. The danger of a hacked exchange is always there and then you have a chance that you will lose your coins. These wallets on an exchange are also called hot wallets .

As a third option, you can also use an online wallet such as MetaMask or Trust wallet. Here is also another chance of an internet hack, but it is theoretically smaller than a hack on a stock exchange.

What is the Streamr Network roadmap?

The roadmap is divided into three milestones. However, there are no dates listed in the roadmap. Each milestone brings new features to the layers of the stack. Each milestone consists of ‘work packages’ (WP1-WP10). The moment all WPs in a milestone are reached, the milestone is complete.

the roadmap

https://s3.amazonaws.com/streamr-public/streamr-datacoin-whitepaper-2017-07-25-v1_1.pdf

Conclusion

What we see at Streamr is that they want to provide a framework for data transfers that are scalable, secure and efficient . What’s interesting is the fact that they want to offer this for both centralized and decentralized systems. With the blockchain in mind, it then works hand in hand with dApps, other blockchain platforms and smart contracts. This ensures that they can provide reliable real-time data .

The Streamr Network project is well constructed, and has many applications. Certainly in the future, when automation will be implemented even further. Of course you never know whether a project will actually develop further in a positive way. If this is the case with Streamr, then the price of the DATA token will also develop well. If you want to buy the DATA token now or later, do good research on this cryptocurrency.

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