cryptocurrencies

Streamr DATA coin - A Complete Guide

Daksh Murkute | | |

Streamr (DATA) is a decentralized open-source project that depends on cryptography rather than trust. It is a peer-to-peer, real-time data infrastructure that makes a platform and tools for the emerging data economy. A scalable real-time messaging network hosted on computers around the world, a marketplace for buying/trading/selling data, and a set of tools for working with real-time data comprise the technology stack.

 

In 2017, Streamr (DATA) was crowdfunded. The idea was to build a decentralized infrastructure and data economy; the developers coined the phrase "Unstoppable Data for Unstoppable Apps." Streamr tokenizes the value of real-time data and makes it accessible through their marketplace. This is designed for DApps, IoT devices, and other applications, and they believe it is a critical protocol for Web 3.0.

 

Contents

What is Streamr DATA coin?

What is Streamr Marketplace?

Streamr Roadmap

How do you mine Streamr DATA coin?

How much is the DATA coin worth?

Where can I buy a Streamr coin?

How to buy Streamr DATAcoin?

Is Streamr DATAcoin a good investment?

 

 

In today's world of real-time data, experts predict that it will soon become a new fuel, similar to petroleum products.

 

Why? Because all of the world's sensors are generating massive amounts of timestamp data, including all manufacturing services, the service sector, and the entire supply chain, and this is not it, the amount of data is increasing dramatically along with the growing number of IoT and connected devices.

 

And now there are DLT technologies, which some claim, are the next generation of the internet revolution.

 

Streamr's mission is to somehow connect both of them, real-time data and blockchain technology. Streamr wants to ensure that all real-time data continues to flow through blockchain.

 

What is Streamr DATA coin?

 

What is Streamr DATA Coin?

      

 

It collects the raw DATA from the users and refines and converts it into bundles of more valuable information. This bundle of DATA is now ready to be sold and bought on the Streamr ecosystem.

 

To understand it more clearly, let’s consider a self-driving electric car. It constantly requires DATA from other machines to function properly, such as traffic information from other cars, the price of electricity at nearby charging stations, weather forecasts, and so on.

 

So Streamr blockchain collects all this individual DATA and makes it into a more valuable DATA pack, now you can sell all this DATA to others, and in return can earn some DATA coin from it.

 

 

 

What is Streamr Marketplace?

What is Streamr Marketplace?

 

It created a market for real-time data and on that data market, anyone can send their data, and anyone can purchase and use that data in the decentralized application. Most of the data bundles are free, but for some of them, there are some conditions.

 

Streamr Roadmap

The roadmap is divided into four milestones. Let’s understand each one of them.

 

Monk: In this, they have launched their token with their marketplace in which anyone can buy and sell real-time DATA. This was the first application to be built on the Streamr Network.

 

Corea: They released their first peer-to-peer version so that nodes can be run freely by this, but all of them were still run by the Streamr team so at this stage they were still centralized in nature, along with this update they have also launched some more features.

 

Before moving forward let’s understand about DATA union framework,

The DATA of one single person does not hold much value, but when combined with some other DATA, it becomes an attractive bundle for buyers. They can extract valuable information from that bundle, and all this process can be done by DATA union framework.

 

Brubeck: They have planned to achieve this milestone in 2021, they have already launched DATA union framework with end-to-end encryption and they have planned to launch Its first-ever public testnet, in which anyone can run the node.

 

Tatum: The last milestone Tatum will be launched in 2022 in which real token economics of the Streamr network will be implemented.

 

How do you mine Streamr DATA coin?

 

How to mine Streamr DATA Coin?

 

Look, before this launch, Streamr have only a few dozen nodes in their network, and most of them are operated by the Streamr team, but after launching their third milestone Brubeck, It will open up the network to the public. That means interested people can apply and run their nodes, and earn some DATA coin in return.

 

And to do that you just have to download related software from its websites followed by some instructions. It will make your system “node” and after that, you can start earning.

 

This is a great step in the direction to become a decentralized service.

 

Also Read: Guide to Chiliz

 

How much is the DATA coin worth?

 

At this moment when I am writing this blog, the Streamr price is 0.15 dollars and the rank of this coin is #340 with a market cap of $122 million, it has a circulating supply of 776 million DATA coins and the max supply will be available in next year when they will launch their final milestone Tatum

 

Where can I buy a Streamr coin?

 

If I talk about its exchanges then the top exchanges for trading in Streamr are Binance, WazirX, Uniswap, CoinDCX, HitBTC with some other major exchanges.

 

Where to buy Streamr DATA Coin?

 

How to buy Streamr DATAcoin?

 

The process to buy a DATA coin is simple, you can buy it from all the above exchanges, you have to download the application of those exchanges and have to follow certain instructions, after that you can buy Streamr Coin.

 

Is Streamr DATAcoin a good investment?

 

This team has members from Asia, the US, and Europe. Their team’s main goal is to create a global network for real-time DATA, they are currently working on projects from the Philippines Turkey, Finland, and the US. At the time of writing, three use cases are running on the Streamr network using DATA union.

  1. Machine witness
  2. Tracey
  3. Swash

So as they expanding their infrastructure the chances of their growth will increase. I think it is a good investment considering the long-term goal.

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