Big Data Coin is a cutting-edge, blockchain-based and smart contract embedded cryptocurrency leveraging on individual’s e-footprint on electronic devices. E-footprints are hashed regularly and hash keys are safeguard in a network of full nodes. Different parties can purchase e-footprint in batches with pre-defined demographic parameters using mainstream currency, giving liquidity and public recognition on Big Data Coin.
The concept of Big Data Coin is fundamentally different from that of Bitcoin, Ethereum and other cryptocurrencies, for it has embodied economic value in its very existence with no dependency on market condition and government recognition.Â
Not only does Big Data Coin carry intrinsic value in its founding blocks, the way it is mined is also revolutionary which would outplay other cryptocurrencies. Blocks of Big Data Coin are naturally generated from electronic device activities which is a function of user population and time lapsed. Mining servers or processing units are not required to compete the ownership of a coin by endlessly rendering computing power just to hash a block of data into designated format. This groundbreaking feature empower individual who has an electronic device to casually participate in Big Data Coin mining. Low mining barrier would definitely favor the adoption rate of Big Data Coin.Â
Big Data Coin sources its root from e-footprints which is collected through personal electronic devices. Smartphones, laptops, desktops and tablets are all potential factories of Big Data Coin. Once an electronic device has Big Data Coin wallet installed, it can opt to engage in coin mining process by activating mining protocol. A unit of Big Data Coin is generated upon submission of an e-footprint hash key, corresponding to an e-footprint master file recording a 24 hours interval.Â
Phase I: Completion of ICO and delivery of Big Data Coin Token
• Upon successful ICO of Big Data Coin closed on 31 October 2017, ERC-20 token will be sent to subscribers’ Ethereum wallet before 15 November 2017.
Phase II: Development of Big Data Coin API and recruit beta miners
• From November 2017 to October 2019 full capacity of the team would be on development of Big Data Coin blockchain and the all-integrated API. Additional blockchain specialists and programmers will be recruited on a needed basis. Â
• Beta miners will be recruited on November 2019 to install the Beta API on their electronic devices. The debugging of Big Data Coin blockchain and the all-integrated API is expected to complete on March 2020. Â
Phase III: Expansion of marketing team and conduct roadshow to potential data buyersÂ
• On early 2019 when the Big Data Coin blockchain and API development is near completion. Marketing and sales staff will be increased to conduct marketing campaigns. This is to secure a large initial miner population to support Big Data Coin with sufficient data. B2B roadshows and seminars will also be organized to illustrate data quality collected by the all-integrated API and how corporations can purchase Big Data Coin to redeem e-footprints.Â
Phase IV: Official launch of Big Data Coin APIÂ
• Official launch of Big Data Coin is tentatively scheduled on April 2020 together with the all-integrated API. Token purchased on ICO are then free to be traded on Big Data Coin exchange or other cryptocurrency exchanges.Â
Phase V: Post-launch monitoring and continuous improvementÂ
• The development team will actively seek feedbacks from miners to upgrade mining performance. Development team may opt to add or reduce the range of data collected upon reflections from bigdata users (i.e. Corporations, governments and research institutions). The purpose of monitoring after launch of Big Data Coin is to ensure the underlying bigdata blockchain is of practical value to the end users, thus to provide valuation supports for Big Data Coin.Â
