Streamr aims to tokenize the value in real-time data and claims to deliver unstoppable data to unstoppable applications. Its mission is to build a decentralized environment for real-time data replacing the centralized services with a peer-to-peer network. The project uses a publish and subscribe model by which people can trade real-time data on the marketplace or use it.
The project has also built a Data Market place which enables anyone to easily monetize the real-time data. Valuable data collected with the IOT sensors, connected devices, social media etc can be offered to developers and companies. Also machines like cars can autonomously buy and sell the data.
Along with the decentralized data network and marketplace, the Streamr stack includes a powerful analytics engine and a UI for rapid development of real-time Dapps.
Smart contracts, data streams, and decentralized computing resources can be interconnected in a low-code environment using high-level building blocks. Streamr will be the easiest place to create real-time, data-driven and trustworthy blockchain applications.
Understanding Streamr with an example:
Consider a self-driving electric car. For its proper and optimal operation, It constantly needs data from other machines which include traffic information from other cars, electricity prices in the nearby charging stations, weather forecasts etc.
In this case Streamr acts as a bridge for real-time data delivery and payments, allowing the people and machines to buy and sell the data autonomously using the DATA coin (Cryptocurrency) which is present on the blockchain.
The car can autonomously buy the data from the resources that it needs and in turn it can also sell the data it produces which may include traffic data, road conditions (can be used by smart cities) etc.
The Streamr Network is a data transport layer of the technology stack. The network handles all the operations in a decentralized way i.e. there will be no central authority controlling it. This network acts like a publish/subscribe model and supports decentralized storage of events.
Events published to the stream are delivered to all authorized and connected subscribers of the stream. Subscribing to the users can be restricted to certain users only or can be free to the public. It consists of Streamr broker nodes which establish a peer-to-peer network.
In the similar way, permission to publish content in a stream can be held by one, many or everyone. The Streamr network also handles decentralized storage and decentralized messaging.
DATA Coin (ERC-20) is the native coin of the Streamr platform.
Utilities of the DATA Coin include:
It can be used for payments in the Data Marketplace i.e. it is the means of compensation between the producers and the consumers
It is also an incentive which is provided to the one who runs broker nodes
It acts as the basis for karma, the reputation metric in the community of data producers, data consumers, and message brokers. Parties gain karma from DATA coin transactions which include publishing data, consuming data and running broker nodes that operate the network.
Recently Streamr (DATA) got listed on Wazirx. (Click here to buy it)