What is Essentia?
Essentia is a cryptocurrency framework that gives users full access and control over how they use and manage their online identity. As a user, you can decide to make your identity private, disclose only a specific portion of your personality, or give a particular website full access to your online status. Invariably, the servers of the page you visit and provide access to have information about you such as your IP address, location, name, and other information that are personal to you.
On the essential blockchain, the seed or primary user is the only one with full access to personal data. The framework allows users have access to how their personal information is shared with other servers on a network, thereby giving the user a complete modular framework at their fingertips. Apart from having full control over your data, the ownership of your data, identity, privacy, information, and assets belongs to you.
The essentia framework also works as a decentralized operating system, which can be used by humans, IoT devices, machines etc. It absorbs both decentralized and centralized resources as a single unit, while safely connects and relates the user or machines anonymity, pseudo-anonymity or public digital identities with a multiverse of data that is encrypted and stored on a local server or decentralized system.
A non-profit organization based in Amsterdam, Essentia one was set up in 2017. The team is made up of top-heavy technical individuals that reflect the ambition of the project. The project lead is Matteo Gianpietro Zago. A blockchain advisor, business owner, working with fortune 500 companies such as Uber, Facebook, Tencent.
Some important aspects in essentia
- Allows for privacy: Only the seed, i.e., a primary user is granted full access and control over data. It is possible that servers, computers and other third parties have prior permission to access seed information.
- Easily customizable: Essential allows easy customization for those users using them while allowing for protection of the identity of humans and machines. As a user or device, you are allowed to have different requirements that meet specific needs on the use of your data on the essentia framework.
- Single environment: The essential environment has a central location where multiple types of identifiers, asset information, and personal data are stored. The information on this central location is secured and decentralized.
Benefits offered by the essentia framework
Essentia solves one of the most worrying problems in today’s highly connected world, which is privacy and security of data and information. We can search for and acquire valuable information for a high price in the market today. The essential framework provides users the freedom to be completely anonymous if they desire while keeping their data on their computer system.
Using the secure framework also prevents users from exploitation and allows them to filter entities about them they want others to have access to. This is an excellent way of decentralizing identity. The single seed mechanism is a prominent condensation tool in the essential proposed list of products, which uses the concept of the master password through the use of advanced coding methods.
Initiated only once, without a user or machine (due to the integration of future IoT economy) giving access, they will not be able to access services that are already configured on the framework.
Features of the essentia framework
- Human or machines can use a model that is modular, customizable and hierarchical.
- It is an entirely decentralized digital based blockchain technology use for the identification of human and machines.
- Provision of a reliable and secure robust encryption system.
- The full privacy that gives rights, ownership, and control to users over the platform.
- It has a fully customized, personal, and environment (desktop application) where users can manage and interact with identities, resources, rights, communications, transaction resources etc.
- It is a decentralized system that is permanent and provides 24/7 access.
- The availability of a multi-thread, cross-thread, and multiple protocols.
- Use of centralized security with data that is uncensored, non-destructive and continuous.
- Deployment of open source hardware and software.
- Homogeneity of language and people with the server.
- Prove of error
The essentia framework is based on a move needle weight which is the real sense of decentralization. Essentia is focused on rebuilding a hierarchy of original and radical layer that is intermediate to users.
Main functions of the essentia token
There are four main functions of the essentia platform:
- Decentralized application service access: The native ESS token will be used to pay for the services and products that are stored on the essentia based decentralized applications.
- Governance distribution: Use of the token as a voting currency that allows for the contribution of the community members in the democratic process that are related to the future development of the essentia project.
- Anti-spam: The token will also be used on the platform to implement services that will discourage spam behavior.
- Management of reputation scores: Reputation score for the rating of applications that are hosted on the essentia platform.
ICO and token distribution
The ESS token is based on the ERC20 based ethereum token. The initial value is 1 ETH for 1500 ESS (1 ESS = 0.05 USD), and 46% will go to crowd sale while the other remaining token will be distributed among the team, advisors, master nodes, project reserve and ambassador program. The crowd sale will start on the 15th of April 2018 and end on the 30th of April 2018, with an aim to generate up to 32 million USD.
Website : https://essentia.one/
Whitepaper : https://essentia.one/whitepaper/
Telegram : https://t.me/essentia_one
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