VANTA NETWORK ICO Review
Good afternoon, my dear crypto-enthusiasts, and today I want to tell you about the wonderful and promising Vanta Network and its advantages.
VANTA-decentralized network without permissions, which provides real-time, secure, and private interaction. With VANTA, individuals and corporations will be able to develop real-time data services and commercialize these services at low cost. In the end, VANTA will provide unlimited connectivity between all devices regardless of their location. VANTA’s goal is to allow individuals to create decentralized networks that perform real-time data transfer, and also process and store this data by selecting intelligent partners, collaborating and evaluating each other using the VANTA network protocol and consensus algorithm. Installing the main VANTA client on your computer or mobile device or installing applications developed using the VANTA API will allow you to participate. Network members compete with each other to get the data transfer / storage / processing task requested by the network in real time and perform key tasks such as finding and connecting peers (for exchanging data in P2P mode), relaying data, caching , processing and verification.
PROBLEMS VANTA AIM TO SOLVE
- Increasing network throughput and cost: Current networks and infrastructures that support various real-time networking are reaching throughput limits. This means that companies will not be able to provide reliable services since network and server costs will increase along with the increasing amount of data transmitted.
- Real-time networking development costs and problems with centralized services: Many companies are limited (or even fail) to develop real-time networking services because of the cost, time, and skills required to develop and operate such services. As a result, an increasing number of companies are utilizing centralized API services that are prone to cost increase as usage increases, and to hacking or privacy issues because the data is stored on a centralized server.
- Privacy concerns resulting from transferring and storing personal data: Currently, a lot of our personal data is being stored on centralized servers in order to provide smoother services/experiences, but at the cost of data being leaked and exposed to the public when the servers become compromised.
- Access to data generated by devices and the data usage fees
- Trust in the communication between parties and trust in the data transferred from various devices
VANTA will aim to solve the following problems through decentralized intelligent network based on blockchain technology.
1.Increasing Network Throughput and Cost
Current networks and infrastructures that support various real-time networking are reaching throughput limits. This means that companies will not be able to provide reliable services, since network and server costs will increase along with the increasing amount of data transmitted. VANTA will solve the throughput and cost issues by making the common computers and mobile devices around the world, whose performance rapidly increases each year, to contribute to real-time networking.
2.Real-Time Networking Development Costs and Problems with Centralized Services
Many companies are limited (or even fail) to developing real-time networking services because of the cost, time, and lack of skills required to develop and operate such services. As a result, an increasing number of companies are utilizing centralized API services that help develop real-time networking functions. Yet, there are some problems with centralized APIs. Once a centralized API is used, the fee increases significantly as the usage increases. Moreover, if an API provider suddenly changes policies, stops the API service without notice, or experiences temporary downtime, the company developing the services based on the provided API will be adversely affected. Also, because the data is stored on a centralized server, it can not be free from hacking or privacy issues. These problems can be solved by building a decentralized network for real-time networking that is not owned orcontrolled by anyone, and this can be used to provide various real-time networking APIs for companies.
3.Privacy concerns resulting from transferring and storing personal data
In the future, more diverse personal data will flow within the network to be transferred between devices, and will be stored in various centralized servers in order to provide a smooth service experience. However, if users can not know whether if the data is properly encrypted, transmitted, stored, and deleted from the server, users may become anxious due to various hacks as well as government & corporate surveillance. At the same time, personal data leakage will cause great damage. With a blockchain, however, it is possible to transparently confirm the process of transmitting / storing / deleting data. Decentralized nodes, in addition, transmit and store real-time data, which prevent hacking and excessive/malicious use of personal data.
4.Access to data generated by devices and the data usage fees
In the future, there will be an increase in the need to send and receive data in real-time between people and devices and between devices. In such a situation, it is necessary to have a system that can operate transparently and accurately according to the rules determined between the devices without human intervention for acquiring the data access permission automatically, configuring the temporary network for receiving the data, and paying the price for the data use. Therefore, VANTA intends to create an efficient system that can quickly and safely send and receive data in real-time by creating a competitive system that instantly configures networks according to each situation.
5.Trust in the communication between parties and trust in the data transferred from various devices
Currently, various products, stores, and media are evaluated and shared by people. People evaluate the purchase, use, and visitation of products, stores, and media, but there is no evaluation of people or the devices people are communicating with. In the future, there will be more and more real-time communication across people and devices, and credible evaluations will be needed. Trust will achieved in the future whether an individual is engaged in daily life or a company is conducting business.
Benefits of using VANTA
1.VANTA-based service developers
With VANTA, it is possible to develop and operate scalable, stable, and highly secure real-time networking services at a low cost. Developers can quickly and inexpensively develop real-time networking capabilities based on VANTA without building up a separate server or develop real-time networking from scratch. According to the staking based token economy, developers may utilize
VANTA’s network resources by staking VNT tokens. It is available at no cost, except for a small fee when VNT tokens are unstaked. If a developer does not have enough VNT tokens to secure the resources they need for their service, they have the option to create a policy requiring end users to stake VNT tokens for all or a portion of their own resource usage. In other words, developers and users can share staked VNT tokens to run a service. It enables to significantly reduce the development and operation costs of real-time networking related services.
2.VANTA-based service users
End users using VANTA-based services benefit from lower service costs and privacy. When a service developer stakes sufficient VNT tokens for the service’s network resources, end users usually do not have to stake VNT tokens for their own resource usage. However, if the service is set up for end users to stake VNT tokens to run the service as explained with the previous sections, each user needs to stake VNT tokens for their own resource usage.
Users can also easily create a VANTA account without a separate subscription procedure or authentication. This is possible because network participants communicate through an anonymous hash value that cannot be used to track their identity. Also, users can create a new account at any time, further assuring that an individual cannot be identified. Since there is no central control authority and all data is encrypted and transmitted between peers, it is impossible to provide communication records, data / media, etc. at the request of the central government or authorities. This means that it is possible to use secure, decentralized communication services without privacy problems.
3.Benefits for organizations from adopting VANTA as a telecommunication network
Because VANTA is specialized in real-time networking and has various communication functions, VANTA blockchain can be used by organizations such as governments, businesses, and schools that want to build their own elecommunication network. The VANTA blockchain telecommunication network can be built quickly and cost-effectively without the need for a separate server or infrastructure.
VANTA will also provide direct consulting and customized development for cases in which the government, company, or school, etc. has technical difficulties using VANTA as a telecommunication network. Therefore, it is possible for each organization to build an optimized blockchain based network.
VANTA Blockchain & Consensus Algorithm
The details of the ICO
The principle of operation of VANTA is based on standard PGP encryption and decentralized Namecoin model, which allows it to maintain a transparent level of communication between different nodes, ensuring their secure integration and synchronization.
To work with the VANTA network, a VNT token is required. Its cost once again proves the cheapness of the services of the system, as 1 VNT = 0,00088 USD.
The distribution of tokens is as follows:
In General, I think the idea and concept of “intelligent network” VANTA is clear to you. And you as well as me, I’m sure you liked it. Because the world really needs additional, improved and effective tools to interact with each other. If the project is able to implement all what the developers say, then I will only be happy. Therefore, I wish them to implement their idea as soon as possible in order to evaluate all their advantages personally.
Those who also liked this project and would like to get acquainted with it much closer, I recommend reading the technical documentation of VANTA, where all the subtleties and nuances of the work are described in accessible and understandable language. In addition, you have a great opportunity to take a look at their official social resources and ask all your questions in their telegram chat. All useful links can be found at the end of the article. Good luck!
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=5095100
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=2247112