The blockchain technology and the cryptocurrency industries are expanding fast. There are many platforms that are using this two to offer services to clients from all over the world. One of them is the Essentia platform, Essentia is described as “a masternoded multi-chained set of protocols connecting centralized and decentralized resources to create new powerful interactions and experiences.” So what is this platform all about and what issues is it planning to solve?
What Essentia ESS?
Essentia ESS is a blockchain based platform that aims at building and providing users with a complete modular framework. This framework will allow users from different parts to control other data, privacy, identity information, and assets. The platform also functions as a decentralized operating system that can be accessed by machines, humans, and IoT. There are some of the projects that have already integrated with Essentia. Projects like Mysterium, Ethereum, Gnosis, EtherDelta, Status, and Bitcoin among others are already working with Essentia.
Problems Essentia wants to solve.
There are different problems that people using cryptocurrency and the blockchain technology encounter in their daily life. Some of these problems are solved while others are yet to be solved. These problems include:
· Platform and data are scattered everywhere.
· Pieces of new interment are built as building blocks, but with less ways to work together
· Interoperating new technologies prove useless in making the paradigm shift from web 2 and 3.
When it comes to Essentia, the platform wants to solve these problems by offering the following solutions:
· A modular decentralized data management framework and interoperability.
· The platform is composed of two components the Synergies and Essences. The components work differently and as follows:
· The Synergies are connective tissue that aid operations. These tissues link different platform, modules, and resources together to allow for interoperability. The Essences on the other hand interlink data acrid multiple services.
Some of the features of the platform include:
· Multi-Chain. Multi-device
· Full Data Ownership
· KYC and GDPR by default
· All in One Seed
The Essentia platform can be used by both individuals and companies. Individuals can benefit from the decentralized password loins and KYC registrations. Companies, on the other hand, need GDPR compliance and oracles for smart contracts.
The Essentia team is led by Nikolay Hryshchenkov Technical Team Lead, Oleksandr Kozlov, Software Architect, Stefan Djokic, Technical Team Lead and Alex Grek, Senior Developer. There are other experienced members of the team, check them out on the official website.