What is Essentia.one?
Essentia is a decentralized interoperability and data management framework that allows different users to operate their data from different devices anywhere in the world. In simple words, it is a framework that allows its users to have control of their online identities. By making use of the Essentia framework, users will be able to have control over their personal information (such as ID’s, Privacy & Assets) and also restrict their data from getting shared with other servers.
How Essentia Works?
- First Step: User creates an Essentia ID by linking to any Essentia node. They can even run Essentia locally and further get access to different things which they want to start using decentralization
- Second Step: Encrypted keys are generated to be used for further signing in and ensuring true data ownership.
- Third Step: Everything is summed in one single seed that can be later used to get access to decentralized data from anywhere or from any device that is connected to the internet.
- Fourth Step: Everything can be added to the network such as data, identities, assets, and dApps.
What problems that Essentia solves?
Storing a large amount of information has already been a steady task for users as well as companies. Nowadays data storage along with its security is the most difficult task as different companies in the market try to fetch users’ data for their benefit. This is where Essentia becomes handy as its framework allows users to remain completely anonymous. The users are not only given the benefit to hide their data but they also have an option to keep the data about their machines private.
Securing the data in a decentralized framework ensures users that are not being taken advantage of.
Projects Integrated with Essentia
- Kyber Network
Essentia.one Unique Features
- Essentia allows users to have full control and ownership over their data, digital life, and identity.
- Only user seed is required as a minimum piece of information.
- The network wipes out the issue of having an intermediary to view his personal data.
- Since everything is decentralized and lies in the hands of users, Essentia provides an opportunity for the user to operate with different blockchains within one ecosystem.
- Everything is decentralized but lies under one ecosystem.
- The user can keep his data private were desired by creating decentralized IDs when needed.
- By making use of dApps Store and Essentia integrated modules, users are given the accessibility to access its data anytime.
- Smooth interaction with multiple blockchains, decentralized applications, and third-party services is there.
- Essentia focuses on the privacy of users.
- Helps in the creation of effective blockchain operating systems.
- Non-Profit: Essentia is a not-for-profit organization that plans to provide all their services without charging any fee from its users.
- Data Security: The security of data is ensured on Essentia. All the users making use of the decentralized data framework can hide their identities or even the seeds where the data is stored.
- Decentralized: One can fully decentralize his personal data by making use of Essentia. He/she has full control over sharing of his data.
- Accessibility: Those countries where the use of cryptocurrencies is regulated are not allowed to make use of the services of Essentia. Countries like China, Korea, and the US are not allowed ICO investments.
- Understanding: The services offered by Essentia is not that much simple that can be easily understood by the layman.
Essentia.one ICO Token Details
- Token: ESS
- Initial Value: 1 ETH = 15000 ESS
- Type: ERC20
- Token Distribution:-
- 46% Crowdsale
- 18% Team
- 11% Project Reserve
- 10% Advisors
- 10% Masternodes
- 5% Ambassador Program
Final Words Essentia.one does offer a unique technology that can be helpful in solving real-world problems. However, considering the technical base of the concept, it might not be able to attract a large number of users. In fact, their whitepaper is too technical that might go straight over the head of an average person. All this makes it really hard for the ICO to judge. In short, it’s a real toss-up.
I am Pawan Kashyap currently living in Amritsar. I always try to grab new things from the cryptocurrency market. From my observations and trends in the market, I always try to provide the best and accurate information in the form of articles from this blog. Follow us on Facebook, Instagram, and Twitter to join us.