Essentia is a platform that enables users to have one login, one token, and one identity for use with all applications both centralized, decentralized, on-chain, and off. Essentia is building a customizable OS that each user configures to their taste.
Essentia is built to simplify the user experience and escalate mass adoption of blockchain-based applications. One of the most important factors for mass adoption is to reduce the number of cryptocurrencies required for a user to complete their workflow.
At this time there are over 87,000 ERC20 Token contracts on the Ethereum Network and many of these are the only tokens that can be used inside of their specific applications.
Essentia solves this problem by allowing users to only utilize the ESS token to pay for all transactions and for the use of any application. The technology behind Essentia takes care of the complex token swaps that allow this.
With Essentia, you can use any integrated app without the need to buy their tokens.
To continue on with the idea of one token for the entire blockchain space Essentia takes it one level further. Essentia will not just integrate applications and swap tokens from the Ethereum Network but will have cross-chain compatibility and will essentially function as a wallet for all cryptocurrencies regardless of their root blockchain.
Not only are current blockchain users suffering from having to hold multiple tokens but they are also dealing with having multiple logins, wallets, and private keys. Essentia will solve this problem by creating a single login master key.
Essentia will let users access all of their apps and cryptocurrencies with one login. This will create an entirely new and easy to use experience for users.
There are many different cryptocurrency wallets that store numerous tokens and there are a number of projects that are trying to control user identities and KYC. Essentia is the first to combine these two components into one.
When accessing Essentia a user will build their user identity and have full control over the data. All apps are compartmentalized in the Essentia OS and data can only be shared between them with permission from the user.
Essentia will allow users to host a masternode if they hold more than 100,000 ESS. Essentia Nodes create interoperability between different blockchains, protocols, and Essentia modules.
Users operating masternodes will receive rewards for their staked ESS.
The team has already integrated Essentia with 12 well-known blockchain based projects. These projects are pictured below.
I've reviewed many whitepapers and the most common token utility is as an internal currency. This is a utility for Essentia as well but the token offers additional utilities that make it somewhat unique.
The main utilities for the ESS token are payments, node staking (100,000 ESS for Masternode), rewards, governance, and reputation. When I say payments it is very different from that of a normal internal currency. Since Essentia swaps tokens behind the scenes, the ESS token can be used for payment when using an integrated application.
For more information on token utility see the Token utility document found here.
Essentia is one of the few products that is building optional hardware that is fully integrated with the platform. The team is creating three products ESS-Keyware, ESS-Eggs, and ESS-Sense.
ESS-Keyware is a hardware key that provides access to your complete data, id, and assets. By using a hardware key users can add an extra level of security.
ESS-Eggs are hardware devices that run the Essentia OS. These devices are fully optimized to conduct critical functions of the Essentia platform. ESS-Eggs can be deployed to create decentralized resources.
The final product, ESS-Sense, allows off-chain information to connect to Essentia. These devices feed information to oracles and can be things like GPS, temperature probes, and antennas. They can also be utility peripherals like solar panels and mining units that are capable of communicating directly with the platform.
The team has a solid background in business and tech. The leadership team is fronted by Matteo Gianpietro, an entrepreneur that created a business from the ground up that eventually came to work with Uber, Alphabet, Facebook, Tencent, and more.
The advisor team is lead by Moe Levin (CEO Keynote), Thomas Graham (TLDR), and Ismail Malik (Advisor to Icon Foundation).
The tech team has 19 members and appears to be a highly qualified group. Each member has a LinkedIn profile to review.
One of the keys to a product's success is differentiation. Essentia differentiates itself in many ways by focusing on simplifying the user experience of the future. Its complex back-end tech stack gives it a head start against any competition that attempts to infiltrate the niche.
The head start is not just a myth, the large dev team has created a Github with over 1,000 Commits that date back to over 2 years ago.
馃搮Token Sale Dates: Public Sale June 7th
馃搱Token Ticker: ESS
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