What Is Streamr (DATA)?
DATA is the native token of Streamr, which is an Ethereum-based peer-to-peer infrastructure for real-time data. The Streamr crypto project is comprised of a data marketplace, a suite of tools for utilizing real-time data, and a real-time messaging network (publish/subscribe). The major goal of the platform is to create a novel and decentralized infrastructure for the new data economy. Besides, note that Streamr is an off-chain network that works alongside Ethereum. Thus, if it faces any bandwidth or scalability issues, Streamr can always switch to another network.
If you want to see the current DATA price, check out the Streamr price chart above.
The uninterrupted data transmission process is made possible through the use of the Streamr Stack, which is a set of tools and technologies. It consists of the Streamr editor, the Streamr engine, the data market, smart contracts, and the Streamr network through which data is transferred.
The Streamr editor is a set of Streamr-specific programming tools, while the Streamr engine is accountable for data analysis, processing, refinement, and network event monitoring. The Streamr marketplace is a data exchange network that stores a collection of tokenized real-time data. Such data can be used in decentralized applications, a variety of IoT devices, and so on.
The data exchange process on the Streamr network is done through the use of smart contracts. They ensure the integrity of the network, control the storage of data, handle the whole process of data transfer, and regulate the relationship between data owners and data consumers.
So, how exactly does the data exchange happen? Since Streamr functions via the pub/sub model, the publishers provide data to the network, which is then sent to the subscribers of that data. Though if we looked at it in more detail, the data stream that is provided by publishers is first secured by sponsors who supply DATA tokens into smart contracts called “bounties.” The bounties are mined by broker nodes and then relayed to subscribers through the broker nodes themselves or through publishers. In order to keep the data private, the network allows data publishers to encrypt it using any type of encryption method. The owner of that data holds the key and is able to choose to whom that data will be revealed.
Who Founded Streamr?
The Streamr crypto project was founded by Henri Pihkala, Risto Karjalainen, and Nikke Nylund in 2017. The legal entity behind the project is called Streamr Network AG.
Henri Pihkala is the CEO of Streamr. He has a degree in computer science. In the past, Pihkala was a software engineer at RIQ Yhtiöt and Hedgehog. Besides, he founded Unifina and Data In Chains. The latter is also a platform with a focus on real-time data. Additionally, he consulted projects about e-commerce, system integration, logistics, and IT infrastructure for over 10 years.
Risto Karjalainen is the COO of Streamr. He has a degree in decision sciences and operations research. In the past, he worked as an analyst at Buchanan Partners Limited, JP Morgan, and Wadhwani Capital Limited, as well as a portfolio manager at Merrill Lynch and Estlander & Partners. Besides, he was a partner at GSA Capital Partners LLP and the COO at Data In Chains. As of writing this, he is also a chairman at Silta Fiance.
Nikke Nylund is the Director of Business Development at Streamr. He has a degree in entrepreneurship and finance. He is also the co-founder of such companies as Quartal, Sujuwa, Unifina, and Data In Chains.
The Purpose of DATA Tokens
Streamr tokens are based on the ERC-20 token standard. Don't forget to check the aforementioned Streamr price chart to see the live DATA price.
Talking about the usage of DATA, as it was mentioned before, the tokens are used for rewarding broker nodes for operating the data transmission process, as well as for bounties that secure the process. However, DATA tokens are also used to pay for the data exchange on the data market, or for any other payments that occur within the network. In addition to that, the amount of Streamr coins a person holds determines how much weight in the network he/she has. Thus, DATA tokens also act as a way to measure reputation.
DATA and XDATA
In 2021, based on the votes of DATA token holders, it was decided to move Streamr tokens to a new token smart contract. The new smart contract allows the DATA token supply to be increased in accordance with decisions made during the governance process, in addition to making several technical upgrades to the tokens.
Thus, the old Streamr token is now called XDATA, while the new one is called DATA. The holders of XDATA have to migrate to DATA. Though there is no strict period of time set for doing that because both versions of Streamr tokens will co-exist for a while. However, XDATA tokens cannot be used in the Streamr network, they can only be migrated to the new token version.
If you're interested in purchasing DATA tokens, keep in mind that the DATA price is prone to change. Thus, before making any purchase decisions, it would be beneficial to analyze the Streamr price chart to determine the main tendencies in the DATA value changes (you can find one above).
