VANTA NETWORK REVIEW
Today, we are relying on, and trusting, powerful companies (e.g., VISA, Facebook, Uber, Wells
Fargo) with our data, our ability to manically transact, and engage in businesses with each other.
We don't have the option of not trusting" them and verifying" how they operate. The emergence
of cryptocurrencies such as Bitcoin and Ethereum bring forth the promise of a new \decentralized"
Internet, which is more transparent, fair, and secure. However, for current blockchain system, scalability is a huge
problem which causes low efficiency. As a result, blockchain system can be hardly used under the scenario man's day to day activities.
Vanta Network is a secured, decentralized and scalable blockchain infrastructure. This project makes use of this consensus algorithm Proof of Networking( PON) and BFT to transmit seamless real time data and also pave way for developers to build dapps at low fees and fast speed.
This a great step forward to make blockchain integration easy for enterprises, companies, business, day-to-day activities.
WHY VANTA NETWORK?
The industrial revolution 4.0 has proved to be the next big step in automation and performance in all industries. This itself revolves around IoT and its adoption in all industries. The IoT industry is a multi-billion-dollar market in smart cities, buildings, factories, government and all other global industries. It will grow significantly as the cost of cloud based processing, analytics and security reduces, all the need to connect all machines to streamline processes increases. Vanta Network will be focusing on general data exchange or services on IoT devices, like ordering more detergent when your washing machine tells you that you are out.
Through using Vanta Network within communication, everything from our email inboxes to instant messaging could benefit from improved efficiency. While instant messaging is already ‘instant’, the speed at which other forms of communication can be sent online could be massively improved by blockchain technology. Emails, document transfers, cloud storage and more could be passed over the blockchain and due to the fact that all transactions are validated by a member of the network, this could make the entire process much more streamlined.
While today's blockchain cannot handle video-streaming due to long transaction times and limited computing capacity, Vanta is being built specifically to enable those faster transactions. By switching to a real-time blockchain technology solution, content creators/users will not only save time, but also on lowering cost and removing the need for centralized server.
Blockchain technology has a lot of potential when it comes to our daily day to day activities; from improved protection of the data and the messages that we send to the ability to communicate and get our voice out there without threat of censorship,
taking games to the next level, etc.
TOKEN USE CASE
The value of VNT tokens comes from the following use cases.
1. Use of DAPPS/API’s by staking
For certain services/operations to be rendered on Vanta Network blockchain by companies, individual, enterprise, etc., an expected amount of tokens has to be staked monthly depending on the workload of the operation. And also for developers that cannot afford much funds to continue making use of Vanta, can also set rules of engages for end users. That is, end users will have to stake VNT tokens for the service usage.
2. Joining a node by staking
For anyone wanting to join Vanta Network node will have to stake VNT tokens depending on their roles in the network. These nodes can be categorized into job tracker nodes, worker nodes, or verifier nodes can be divided into, depending on their roles. Hence an annual increase of VNT tokens at a fixed rate of 2% will be rewarded to nodes performing workload generating blocks.
3. Burning fees for unstaking tokens
To run a service/operation on Vanta Network, developers must stake VNT token as well as end users also. Vanta generate a fee of 2% and burn them( send to a dead address without private keys).This process of staking and unstaking produces a workload requires fee.
VNT Token can be bought via Upbit exchange
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