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Top 5 Promising Data Projects On Different Chains

Written by: Coinpedia

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Coinpedia

Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: [email protected]

    Apr 29, 2022

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    Blockchain technology has the potential to disrupt many concepts and ideas. Data projects are potentially the biggest benefactors of this innovative technology. Unlocking better transparency and data control has sparked some promising data projects across different ecosystems. 

    Profila

    One key goal of Web3 development is empowering users to reclaim what is theirs. Users should control the data they share with third parties rather than having it harvested from them with(out) permission.

    Consumers share tons of sensitive information when they use social networks or perform Google searches, yet that is not how things are supposed to work. 

    Profila, a Swiss zero-knowledge advertising platform leveraging Cardano’s blockchain technology, aims to change the narrative. Its purpose is to let customers control their data and unlock rewards when they share bits of information with third parties.

    Those third parties consist of advertisers looking to acquire actionable and accurate data. It is a win-win approach for Profila users worldwide and a welcome change to how online advertising works.

    KILT Protocol

    KILT Protocol – on the KILT blockchain – is a game-changer for data on the blockchain. Through its technology, users can acquire decentralized identifiers and verifiable credentials.

    Think of these credentials as a replacement for the “Log in with Google/Facebook” button and one that ensures only the necessary information is shared with the platform one aims to access.

    Digitizing real-world credentials through the same level of trust is an essential step forward for society. 

    KILT has two crucial tools for users to explore today. First, SocialKYC is a different take on the Know-Your-Customer process, as it lets users provide their internet identity by confirming ownership over their social accounts.

    Moreover, SocialKYC “forgets” the user after receiving a Verbgt5fv4ifiable Credential to access the services they need. 

    A second crucial tool is DIDsign, a decentralized solution to sign and verify files privately and securely. You can sign any digital file through the browser through a unique decentralized identifier (DID). Signed files can be sent to anyone, with the recipient having the chance to verify the file has not been tampered with. 

    Analog Protocol

    Omni-chain data projects can greatly impact the blockchain industry over the coming years. Analog Protocol is such an omni-chain project and introduces interoperability between different chains to communicate validated event data, which is the key to faster cross-chain transactions.

    Analog Protocol enables builders to plug their chain into other networks, host DApps anywhere, and unlock global liquidity.

    Event data is where publishers and subscribers meet. For example, a subscriber can use validated event data for decentralized applications or smart contracts dependent on time, although it applies to traditional applications too. In addition, validated event data generates value delivered to subscribers, requiring the latter group to pay for services rendered. 

    Streamr Network

    As a layer zero protocol for real-time data, Streamr Network has many potential applications. It is a base layer on which developers can build blockchains and other ecosystems for various purposes, including identity, security, and payments.

    The Stream Network solution works across Ethereum and xDai, although it can support many more blockchain networks. 

    Like a few other projects on this list, Streamr Network will try to generate income for users willing to share their data via smart contract technology.

    Shared information will be made accessible through a native marketplace where users remain in control of their information until they find a suitable match. Ownership and trading of real-time data will be a core aspect of building a successful Web3 environment. 

    SubQuery

    The SubQuery project on Polkadot wants to transform and query the world’s data for a Web3 future. Users can extract, transform, persist, and query data initially and connect and present data in the future.

    The approach by SubQuery will enable developers to create products ushering in the decentralized future by tapping into its open-source API connecting blockchain data with dApps and tools. 

    While SubQuery currently works on Polkadot, Substrate, and Avalanche, one can integrate the concept across other blockchains. It is an interesting approach to removing the need for developers to build a custom backend for data processing and allow them to spend more time on front-end development to tackle use cases. 

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    Coinpedia

    Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: [email protected]

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