What is Streamr (DATA)?
Streamr (DATA) is an off-chain network focused on data adaptation and exchange. As an off-chain part, Streamr’s framework will work close to blockchains; it’s based on Ethereum. It will use smart contracts to allow machines and individuals to exchange data over its network.
Basically, the network will encourage a market that allows anyone to distribute or consume data. The Streamr team believes it will break the data-adaptive shape that large businesses have set up with cloud services.
Features of Streamr
Providing a variety of dApp creation tools: In the Streamr DATAcoin platform, there are many simple and unique tools that make the entire process of building user dApps faster. Through the use of these tools from start to finish when the user’s own application is completed, the platform allows data to be stored, distributed and processed with ease.
Drag and drop forms allowed: Using the drag and drop format of the tools and feature modules provided to create dApps, when there is not much technical knowledge, it is still easy to create specific applications to meet the needs and ask for yourself.
Data compatibility with many systems: Streamr DATAcoin is a platform that allows compatibility and can be integrated with many external data systems quite seamlessly. Therefore, the exchange of information with third-party managers becomes simple and the entire transaction can be completed in a shorter time period. Some platforms that Streamr DATAcoin is compatible with include: Amazon Kinesis; REST; Apache Kafka.
Allow creating your own APIs: this platform gives users the freedom to create their own APIs. This can be done by tagging and embedding desired assets into the system. Once the stream has been created, users have the freedom to edit it wherever they choose.
How does streamr work?
Streamr uses a native currency called DATAcoin that facilitates all transactions taking place in its ecosystem.
Likewise, Streamr provides users with a simple interface used for real-time data exchange – mainly through the use of DATAcoin tokens.
Moreover, the platform can be expanded as needed, thanks to a high-level API that can handle complex data flows and effectively communicate with the database.
Finally, the Streamr network is equipped with a perfect framework with high transaction speed as well as security. Through the use of smart contracts, DATAcoin conversions can be done in a self-managed manner, thus allowing for faster trading.
Streamr is a real-time digital content distribution company that launched in late 2017 with its main office in Zug, Switzerland and has a branch in Helsinki, Finland, where Streamr Labs is located, helping partners Partnership with the products it produces. The team behind this project includes:
Henri Pihkala: As a software engineer as well as a businessman. In his professional experience, Henri has been involved in creating a “widely used algorithmic trading platform” as well as other blockchain products.
Risto Karjalainen: He is currently the company’s financial advisor. He has a PhD from Wharton, and has worked in the digital field for over 10 years. Risto has extensive knowledge in areas such as systematic automation business and institutional management.
Nikke Nylund serves as a developer and consultant for Streamr. He has worked for more than 20 years in areas such as investment banking, corporate management and financial business. Nikke has a diploma from the Helsinki School of Economics.
Streamr DATAcoin is ambitious. The technology stack of the project includes developer tools, off-chain network functions, data collection and screening, smart contract management and data markets for consumers and manufacturers. Moreover, the project targets peer-to-peer and machine transactions to transfer machine data to the Internet of Things.
Ultimately, Streamr wants to provide a framework for scalable, secure and efficient data transfer for the same distributed and centralized systems. Built with blockchain in mind, it will work in tandem with blockchain platforms, dApps, and smart contracts to provide reliable real-time data.
You can check DATA price here.