The Future of Big Data
They say DATA is the new Oil, the Oil which fueled the growth of mankind and drove them to where they are today. Every day, billions of gigabytes worth of information is created and flows through the networks. The question is — HOW DO WE USE THIS DATA TO TAKE THAT NEXT GIANT LEAP?
The Problem
There are 3 key problems in leveraging BIG DATA on an industrial scale
- Too much Data— this is a good problem but it comes with a challenge. How to process all this data meaningfully? Where is the computing power? Where to store it? The current systems are just not efficient enough to deal with this.
- Little Control on Own Data– There are companies which use our data to make billions of dollars but don’t pay us anything. Moreover, we have no say in how they use the data.
- Inefficient Usage — Only a part of the data is being used today. Less computational & storage power is leading to inefficient utilization of data. While we have 2000+ data points available for a person, only a handful are being used for machine learning.
The IDEAL Solution:
Any ideal solution should check the following 3 boxes: - Provide enough computational & storage capacity
- Provide the ownership rights & incentives to the data owner
- Provide means to maximize usage of individual’s dataset
In addition to these solutions, any BIG DATA solution should make the data easily accessible for the companies who intend to use it for services such as Machine Learning.
The FUTURE OF BIG DATA
DxChain is World’s first decentralized big data and machine learning network powered by a computing-centric blockchain.
It solves the 3 big challenges in ensuring adoption of big data in the most efficient manner. Entire system is designed as a platform to provide big data and machine learning related computation services with the support of decentralized data storage devices.
To achieve this DxChain team is designing a specific chains-on-chains structure which manages the master chain, storage chain and computation chain.
• The master chain controls the storage and computational chain to maintain the master chain blocks, where participating nodes provide storage and computational power to obtain incentives.
• A peer-to-peer storage network provides a flexible and extensible file system, the storage chain is built on top of the storage data model.
• Various elements that complete the jobs will be run on a computational chain to synchronize running jobs. This chain would incentivize nodes that provide computational power by leveraging the two consensus models verification game and Provable Data Computation (PDC)
Thus all in all, here is a solution which solves the problem while incentivizing the people who contribute to the ecosystem. With an all-star team, it looks like DxChain is well suited to clear the hurdles and make this dream of leveraging the BIG Data for Machine learning into a reality while providing the computation power and storage space that is required.
To learn more about DxChain visit — https://www.dxchain.com/
To Whitelist & Participate in the Token Sale — https://t.me/DxChainBot?start=kw07nc-kw07nc
Roadmap
2017 - Identified key techniques and components
Researched on big data storage and computation
Consensus techniques for blockchain
2018
Q1 Released white paper
Finished the design and prototype of key technologies
Q2 Minimum Viable Product network launch
Q3 Master/DSC test network beta launch
Q4 Master/DSC test network launch
API/SDK/library beta launch
2019
Q1 Master/Data main network launch
API/SDK/library publish
Q2 Data model for DSC launch
DVM preview launch
Q3 DVM beta
CSC preview launch
Q4 Master/CSC/DSC main network launch
Token Matrices :
Hard cap: 36,000 ETH (token sale contributors will own 30% of the total token supply)
Conversion rate: TBA
Maximum market cap at ICO on a fully diluted basis: $56 million assuming current ETH price of $470
Bonus structure: TBA
Private sale / white list: Private sale is over. Details on the public sale will be provided by the team soon.
ERC20 token: Yes
Countries excluded: TBA
Timeline: TBA (please visit DxChain’s website and join their Telegram channels for the most up-to-date information on their upcoming token sale)
Token distribution date: TBA