Blockchain technology has the potential to influence positive changes when applied innovatively. Insights Network developed a blockchain based survey platform which has been providing decent data collection services so far.
Since the beginning of the year, Insights Network has been making improvements to better its services. INSTAR blockchain and INSTAR wallet were all announced and released earlier this year. Each has different functions on the broader Insights Network ecosystem.
The latest announcement is the support for the EOS mainnet which will see EOS mainnet users start earning from completing surveys on the INSTAR wallet platform.
Incentive for Information
Often, it takes some incentive to get data out of human beings. Insights Network is diversifying its incentives for data shared on its platform. EOS tokens are increasing in popularity and value serving as lucrative incentives for INSTAR wallet users.
The Insights Data Exchange Smart Contract will be deployed on the EOS mainnet. This will facilitate data sharing between EOS mainnet users and INSTAR wallet. Further, this will be the first time the decentralized version of INSTAR wallet is opened for EOS mainnet users. Users can have something to look forward to once the launch is complete.
Upon signing up at INSTAR wallet, users will get profile values which will be committed to the blockchain. These profile values will allow communication between the created account and the Insights Data Exchange Smart Contract. Data will be stored securely on user devices such that no centralized servers will be required. The outcome of the entire set up is a secure, decentralized, user-controlled, end to end data sharing experience.
With the token incentives and promise of security, the Insights Network user base will continue grow.
Secure Multi-Party Computing (SMPC)
Insights Network has SMPC software that pieces together its latest improvements. Given that data will be stored in user devices including profile values, matching profiles to relevant surveys would have proven difficult.
The SMPC software allows for secure verification of profile values without disclosing any of the content. Through the Garbled Circuits 2PC Matching Engine, it searches the data securely to match profile values to relevant surveys based on the requirements stated by the requestor.
Results are forwarded via one-time pad encryption that gives the requestor unlimited access to the information. The information is only disclosed to the requestor. No intermediary is involved during the whole data submission and transfer process.
Increased Mass Adoption
Crucial to the success of blockchain technology is the use and acceptance of already existing blockchain services. This includes the use of services such as those that Insights Network provides.
Some elements of blockchain are not easy to use. Right from registration, some process may be tiring especially for users who have no idea of some of the basics of blockchain technology. Insights Network acknowledges this also adding that some procedures can be costly. For example, registering for the EOS mainnet can be costly, and it also requires some technical skills on blockchain technology. This would easily discourage mass adoption.
Through INSTAR wallet, Insights Network will act as an acquisition agent for the EOS mainnet. The recent launch of the EOS mainnet support will see users join the EOS mainnet via INSTAR wallet.
Registering for INSTAR wallet is as easy as signing up for Facebook or any other social media platform. Insights Network is taking a cue from centralized services to improve its appeal to the broader market. It is likely for more people to sign up for blockchain services if the signing up process is simple and straightforward. Because of the EOS mainnet support, users will find it easier to navigate the EOS mainnet after interacting with the INSTAR EOS blockchain.
Exciting Times Ahead
Blockchain can be influential in day to day operations when given a chance. However, mass adoption has to take place if blockchain is to thrive.
The use of incentives and the ease of registration is appealing to the masses. Because Insights Network saw its user base grow after the introduction of INSTAR wallet, it would come as no surprise if their latest move results in user growth for both Insights Network and EOS mainnet.
Such collaborative initiatives are required if blockchain is to grow beyond its current user base.
Disclaimer: Please only take this information as my OWN opinion and should not be regarded as financial advise in any situation. Please remember to DYOR before making any decisions??
?? Hi, my name’s Sal.
If you found this article useful and would like to view my other work please be sure to comment and follow me on?:
