ENDO: THE FUTURE OF DATA VERIFICATION USING BLOCKCHAIN TECHNOLOGY
Data has been identified as one of the major characteristics of information technology industry. With the advent of technology and innovations the value if data seems to appreciate overtime and growing more exponentially. Today many IoT devices has spring forth in the data industry and data is generated in high volumes per second and is used for training artificial intelligence machines. The essence of this article is to highlight the role ENDO is playing for data verification in the industry using its blockchain technology.
The Industry Data Management Challenge
A lot of manipulation and abuse of data rights has made it more challenging for the industry to account and checkmate fraudsters and pirates in the industry. There are a lot of lapses encountered when managing data. The challenges includes alteration of data, expensive data silos, a centralized data architecture, data integration, etc.
Manipulation of Data: Most data brokers who buy data from data producers tends to indulge in the unwholesome act of repackaging and manipulation certain parts of data to satisfy a client’s specification in a bid to stay in the completion. This is one aspect in the industry what about the academic industry where people often falsify results to bypass an admission process or the case of bank record forgery to gain access to certain financial privileges and obtain certifications. These are widely experienced and a system that seeks to solve this problem will be relevant in the future of data industry
Expensive Silos: Data is becoming voluminous over time and the rate at which it is growing will require sophisticated silos and medium for data storage. Some firms and organizations still keep record of documents in hard prints while some use different cloud storage solution that best suits their business model but one major challenge is the overhead cost of servicing such storage platforms
Centralized Data architecture: It is common everywhere to see companies, institutions centralize their data storage to a particular system or cloud solution. It makes the data vulnerable to alteration by the custodians of such data.
Data Integration: Most flexible data capture and management systems can easily integrate other framework effortlessly into an existing data framework. External data can be integrated into the existing module and has one major shortcoming of being exploited by hackers who can inject malicious data into the database to easily carry out their nefarious activities with impunity.
ENDO Data Verification Protocol Solution and Architecture
ENDO is proffering solution to these about common challenges faced in various organizations working with data. It utilizes blockchain as its backbone for operations of data verification. In a bid to build a flawless and formidable data verification protocol on blockchain ENDO designed its ecosystem which is anchored on five interconnected layers. They include
Blockchain and Storage Layer: This is the livewire of the system. The blockhain technology helps to decentralize the data verification protocol as opposed to what is obtainable currently in many organizations. It is very transparent and smart contract are open to the public for review. With this trust and integrity is built over time. The storage is decentralized, instead of using centralized cloud storage solution which in most cases are inflexible prone to breach, ENDO is leveraging on many data repositories for storage of its data. ENDO is doesn’t have access to user’s data because it is encrypted and only the user has the private key to decrypt such data.
ENDO Protocol: This is the main program procedure on which operations on the blockchain platform follows. Starting from data upload to encryptions which is done through hashing and the hashes made available to the system which makes it traceable by other users. The scoring system for the user whose unique hash appears on the blockchain. Evaluation of the data through voting and other features like KYC that helps to raise the level of trust about the authenticity of such data.
ENDO Platform: This is where every implementation of blockchain is done. It is the core layer that powers the application. All logics, data exchange and token economy are implemented at the platform level
ENDO Applications: These are the end user based applications which can be in form of mobile apps for users and business to connect to the blockchain platform
ENDO API: This allow developers to interface other application to ENDO no matter the platform. Businesses can integrate ENDO into the business operation by using the ENDO API to interconnect their platform with ENDO for smooth operation instead of building ENDO protocols for their own system from the scratch.
The ENDO platform architecture is a solid one and handle pressures on data process and can process over sixty five transactions over second with no service downtime.
Why ENDO will Remain Relevant in the Industry over a long time
ENDO market opportunities are very wide as it cuts across many businesses and organization. Law institutions can utilize this platform for its document verification, Real estates can verify land registration data, rental rates, Certificate of. Occupancy, realtor information, apartment history. The labor market can also use it for proper biometric capture and record verification of staff. The staff work histories, recommendation, partnerships and incidence can be verified easily even if the employee got into the organization with false records. The applications and use cases are innumerable.
In order to build this blockchain project and cover milestones setup on its roadmap. ENDO is offering ICO to interested investors who believe in their vision and sees prospect in the blockchain project to acquire their token.
To learn more about ENDO ICO project and their Token sales please visit the links below.
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