RECONFIGURING HOW USER DATA IS STORED AND ACCESSED – THE ESSENTIA PROJECT
Blockchain has revolutionized how data is stored, accessed and used on the internet. It is a revolutionary technology that has not only removed the middlemen but has also facilitated the flow of information in a secure and transparent manner. Data that is already on the blockchain is immutable without the user's consent and approval. Third-party applications cannot alter the user's data for personal gains. However, depending on the chain that the user's data is stored in, third-party software and applications can gain access to whole or part of the data. The current versions of blockchain is secure enough but when it comes to sharing of data between multiple parties or applications, there are not enough gateways or barriers present that can funnel out only the data that is required, and not the whole set. This prevents the existence of a truly decentralized database where the user has full control on his/her privacy. The Essentia Project aims to create the first ever truly decentralized user's database that is based on advanced blockchain platform.
Blockchain has the potential to disrupt multiple sectors across multiple industries. Never before in the history of the internet has such a powerful revolution taken place where stored data cannot be manipulated by external sources. Data is a very big deal in the information era. Anyone who uses the internet has these 'footprints' spread across various online databases. These 'footprints' can contain private information about the user such as, but not restricting to, his/her name, address, work profile and even credit card details. It becomes extremely important on the part of the company having access to this data to protect it at all costs from external sources. However, no matter what precautions the database administrators take, hackers or people with malicious intent often find a way to access and modify this data. Even big corporations cannot be trusted when it comes to the question of protecting the user's data. The data breach at Facebook which has come to light recently is a standing example.
The Essentia Project aims to remove the__process of trusting a third party organization with private data. What it proposes is a multi-layered blockchain which is further subdivided into atomic layers known as 'Seed', where the users can store all their personal data. This data will then be double encrypted using private as well as public keys. Only the user will have access to the private key to access their data. Users can allow third-party applications to access their data for registrations or other purposes. Users can also select what data to be shared and what not to be shared. This also saves the user's data from being misused when the third party application's database has been compromised by hackers. The data which is in the blockchain will be immutable and can not be hacked or be tampered with. This paves the way for a revolutionary single data security vault which can send part of data to other applications depending on the user's choice. This is a revolutionary breakthrough, even for blockchain security standards. Essentia Project is going to revolutionize how people share data on the internet securely and easily, in a transparent manner.
The Essentia Project aims to fund the initial platform development and blockchain integration through an Initial Coin Offering (ICO). Investors can buy the ESS token , which can be used to pay for any service on the Essentia ecosystem. The ESS token will be based on the Ethereum blockchain and is a standard ERC 20 token. With a highly experienced team at the helm and a mission to securely store and give access on demand to data, the Esentia Project is truly a game-changing application based on the blockchain. Once the platform is live and is integrated with the secure and transparent blockchain platform, it will usher in a new era for the internet as a whole. No more data breaches, no more hacks – one platform, one decentralized system to secure it all!
Website - https://essentia.one/
Whitepaper - https://essentia.one/whitepaper_draft.pdf
ANN - https://bitcointalk.org/index.php?topic=2704531.0
Telegram - https://t.me/essentia_one
Published by wilsonbyrne
Profile - https://bitcointalk.org/index.php?action=profile;u=1936048