0Chain — The Big Picture (Part 1/3)
Full control over data, security, privacy, and immutability through decentralized cloud storage.
Entrepreneur, Investor, Blockchain & Crypto enthusiast, Tech fan. Moving forward! www.0cventures.com
Last week 0Chain ($ZCN) price exceeded $1 for the first time since the presale in 2018, following an increase of public recognition by some of the crypto market commentators, namely CoinBureau article and Bitboy’s YouTube video. This makes 12 months price increase for $ZCN above 5.000% (five thousand). Pretty spectacular in my book. Despite the incredible growth, I believe the fundamentals of 0Chain indicate that $ZCN is still a very much undervalued asset, and if you intend to stick with me through the end, you’ll find out why.
This is PART 1 of a 3-part fundamental overview article of 0Chain, an enterprise-grade decentralized cloud storage solution, one of the most ambitious blockchain projects in crypto that will play a foundational part in the new WEB3, and “fair data” economy.
PART 1 — the massive real-world problems 0Chain solves in regards to data security, privacy, and censorship, and the way it solves them.
PART 2 — how and why 0Chain technology is far superior to anything currently available on the market.
PART 3 (the fun part) — we’re going to take a look at the very interesting $ZCN token economics, and think about the potential in terms of adoption and future ZCN token price.
Now, I don’t like to write a lot, and many smarter people than me have already put things into perspective before, so expect a lot of Twitter content and links to other articles ;)
PART 1 — SOLVING MASSIVE REAL-WORLD PROBLEMS
1.DATA BREACHES (SECURITY AND PRIVACY OF DATA)
- Cam4 (March 2020): over 10 billion (yes a BILLION) records stolen.
- Yahoo (October 2017): 3 billion accounts breached.
- Facebook (April 2019): 540 million users affected.
- Marriott/Starwood hotels (November 2018): 500 million guests’ records stolen.
- Twitter (May 2018): 330 million users impacted.
- Dropbox, Tumblr, Uber, Home Depot, Ashley Madison, EasyJet, Zoom, Nintendo, Magellan Health, Adult Friend Finder, First American Corporation, MySpace, LinkedIn, Adobe, MyFitnesPal, Equifax, eBay, Canva, Apollo, Badoo, Quora, MyHeritage.
- I could go on and on…
Are you starting to get the picture?
The problem with centralized data security isn’t getting better anytime soon, in fact, it’s getting worse every year. Why? No matter how cheesy it may sound, data really is the new oil. Data is $$$ and with this, a honeypot for hackers.
2.CENSORSHIP AND FREE SPEECH
In recent times we were able to witness the big tech power of de-platforming any single person or de-hosting any enterprise that would not comply with their status quo preserving demands or even worse, pose a challenge to their dominance. To avoid being too political, I think we can all agree…it’s a problem! This article explains how 0Chain can solve this problem.
3.GDPR & CCPA COMPLIANCE
The EU imposed GDPR (General Data Protection Regulation) regulation in 2018 and was quickly followed by countries all over the world. These regulations have been a major pain for enterprises. It causes additional costs, not negligible by any means, and if an enterprise fails to comply…well, let’s just say you don’t want to be their compliance officer. The largest fine was issued to Google Inc — 50 million EUR.
Thanks to 0Chain, this can all be easily avoided. Read about 0Chain’s enterprise easy plug-n-play solution here:
0Chain is a high-performance, enterprise-grade decentralized cloud and it solves ALL of these massive problems, and more!
Because data on the 0Chain network is being split into multiple servers with different keys, the potential attacker needs to obtain ALL the keys to get access. On top of that, every chunk of data can be encrypted. This makes 0Chain practically impossible to breach or censor, and you can be sure that your data remains private. Also, the blockchain provides full transparency of all data activities, giving the owner a full-circle view and control over his data.
In Part 2/3, we’re going to take a closer look at the innovative technology that the 0Chain team has been building heads down for the last few years. We’re also going to do some comparisons to other projects in this space.