ICO Spotlight: Essentia Integrates Decentralized And Centralized Services

ICO News | June 4, 2018 By:

Consumers have many choices when it comes to social networks, platforms, and apps they can use. Most of these networks are free, but consumers have to give up some level of privacy in order to obtain these services. This creates risk that data held by central authorities can be stolen and used to harm the user.

Blockchain technology gives many hope that this problem will be solved by decentralizing platforms and eliminating authorities, leading to more secure data and greater privacy. Despite this hope, however, most decentralized networks do not work well together. Customers have trouble moving data from one platform to another, and finding a place to store personal data is not easy.

Essentia hopes to solve this problem by building software that integrates both centralized and decentralized services, allowing users to control their personal data and prevent unwanted access.

Each user on the Essentia network has a unique ESS-ID. All data can be saved to this ID, including files, wallets, desktop configurations, software, accounts, and logins for services. This data is stored on whatever decentralized cloud storage system the user wants to use, and is accessible by the user through mnemonic devices. As long as a user has access to his/her ESS-ID, the user does not need any login information for accounts or services. As long as all files and configurations are stored on the network, he/she does not need to worry about losing data. [MORE]

The Essentia network ICO summary was originally published on the Amity Blog. The Amity editorial team of cryptocurrency experts and writers predominately covers whitepaper summaries of ICOs and long-form articles about topics that interest their community.

Read more about this and other ICOs at BlockTribune’s ICO Wiki