Internet surfers can hardly differentiate the contents they interact with on the platform. Apart from social networks and search engines, there is relatively little for these users to ascertain when the trend goes south.
The blockchain community is unto another project – Internet of Value Omniledger (IOVO). Currently, there are anomalies going on in the internet space and there was need to change the narrative. Thankfully, the blockchain technology is around and had done well in most use cases. For this reason, IOVO, a project touted to take over the internet and its operations had just been launched.
What is IOVO?
In a nutshell, the project particularly wants to make the internet work for us. The current model has the narrative turned against the users. It banks on the blockchain to bring decentralization and security to its operations. Likewise, the smart contract technology will bring its efficient redistribution to play; cutting off intermediaries that had hitherto being part of the issue in current internet.
Value Web to Value Internet
Keen observers must have noticed that personal information is lost on daily basis. The data scandal involving the biggest social network, Facebook had showed that information is under siege and you cannot actually vouch for security of the information you make known on these platforms.
The coming of IOVO is already a revolution but the particular revolt is on the Value Web. The internet is currently operating value web as one that features social networks and other top-notch cyber space platforms. IOVO on its part is recreating same on the blockchain technology but with particular interest of returning data to its owner.
What this means is that the internet of value credited to IOVO ensures that end-users’ information is not compromised and this is opposite to value web’s continuous use of data without acknowledging the owner or issuing some incentives for same.
The DAG Approach
The blockchain had hosted many platforms and had also seen other competitors coming up. For instance, the directed acyclic graph (DAG) has for a long time now, become basis for upcoming decentralized projects that do not want to fall into the loophole of scalability issues credited to the blockchain. DAG also allows for faster operations and no mining.
It is on this basis that IOVO was formed. The project’s use of DAG ensures that information does not leave the coffers of its owner without outright permission to that effect. The DAG technology was used here partly because of predictions of becoming the next big fish on the blockchain and mainly because of its decentralization.
In a nutshell, the DAG used here will be critical to data use and management. Hence, there will be effective computation and protection of information.
The Data Store
IOVO simply stands for Internet of Value Omnilegder. The first acronyms “IOV” is insight to what the project is all about – creating value internet. The “O” stands for omniledger. By omniledger, IOVO is looking at being model for all other blockchain platforms that are interested on creating value for users.
IOVO’s omniledger will govern other decentralized ledgers with the intention of gathering information and distributing same accordingly. Enterprises that have been looking for data to run digital campaigns have often banked on Facebook and Google as platforms to get such.
To this end, there is centralized database where information can be accessed at a go. For this reason, the omniledger credited to IOVO becomes literal store that will collect and keep data pending their use.
What’s in for Users?
The current internet (value web) can best be described as deceitful because the touted value hoped to be given to users is rather extorted from them. For this reason, IOVO’s solutions become remedy that will create the much needed value for users such as data security.
The upside does not end there; IOVO also extends benefits to users. With DAG, data computation will be easy and users can then choose to trade their information for token-incentives.
For enterprises and data-hungry platforms, IOVO is now a hub for all sort of information they might require. Here, they can access information and part with some incentives before getting same.
