What is it? Buckle up everybody, because this one's kind of a big deal. If you've watched the latest season of Silicon Valley (season 4), then you're probably familiar with what this project is aiming to achieve. That's right folks, decentralizing the web. Yes, THAT web. That thing you're reading this article on? It could potentially be changed forever. In their own words, Substratum is "an open-source network that allows anyone to allocate their spare computing resources to make the internet a free and fair place for the entire world"... 'nuff said.
Who are they? The team driving this project are the likes of which would make Fortune 500 execs blush. We're talking about people who've either been a part of, or created immensely successful companies in their respective fields (which is a major factor I take into account when researching any team). There is no doubt in my mind that these folks are THE ones to take on the immense task which they are facing.
(Ya'll couldn't get a better picture of Kevin?)
What problem(s) does it solve? This is a multi-fold and very complex question. Luckily, Substratum has already simplified this part and outlined it in their white paper. Here are the problems they've either already solved, or are in the process of solving with decentralizing the web:
Serving Up of Decentralized Content
Incentivizing Users to Serve the Content
Privacy / Security / Encryption
Storage and Serving of Content
DNS (Domain Name System)
Development Tools for the Decentralized Web
Net Neutrality
International Digital Barriers
High Hosting Costs
When is the ICO? Unfortunately as of this writing, there is only 1 day remaining in the ICO which ends September 14, 2017 (I know, I just found out about this project).
UPDATE: Substratum has extended their ICO to September 17, 2017.
PAPA CRYPTO'S VERDICT: 9/10
Here are a few reasons why:
• Network contributors running the Substratum broadcast software will receive Substrate (SUB) tokens as compensation. In other words, you'll be getting paid to leave your computer on and running their app (yay!).
• Businesses that want to host content on the network will have to compensate the network contributors (double yay!).
• The team is working on something called Crypto Pay, which allows all websites that are on the Substratum network to process transactions using ANY publicly-traded cryptocurrency.
• All the data is encrypted and secure. Say bye-bye to VPNs and Tor because you won't need 'em.
• Simple to use software makes it easy for anyone to contribute to the network.
• You can use ANY browser to explore the internet (yes, even IE if you want).
In Conclusion: This is one of the most ambitious projects out there right now. I know they aren't the only ones trying to decentralize the web, but they're the only ones that don't have any holes in their story. The team is very responsive online; they provide consistent video updates of their project; and they're tackling the issues that their competitors aren't even looking at. An A+ team with an A+ project... I'm definitely getting involved.
Links:
Substratum Website: https://substratum.net
Substratum ICO Website: https://substratum.net/ico/
Medium: https://medium.com/@SubstratumNet
Reddit: https://www.reddit.com/r/SubstratumNetwork/
Twitter: https://twitter.com/SubstratumNet
YouTube: https://www.youtube.com/channel/UCxUJoTH0XLERKl55zGnFI6g
Facebook: https://fb.me/SubstratumNet
Slack: https://substratumcoin.slack.com/join/shared_invite/MjM1NjcyOTUxMzk2LTE1MDQ0NDIzOTgtYmEzYTRjNDMxNg
Disclaimer: I have not been paid nor asked to write this review. I do this because I want to bring value to you all. Please don't take this as financial advice, as I am just a dumb cat.
Forever yours,
Papa Crypto
Do you remember when in 2015, people still thought that bitcoins were worthless?
Even with the current developments, I think we're only seeing the beginning. What an exciting time to be alive and have front seats at the show!
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Very true, all the applications being discovered utilizing the blockchain are incredible! And we're barely scratching the surface. The future seems much brighter than I once thought it was going to be.
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