Have you known a worth competitor for IoT? This is about it. MIT Technology Review recently published an article on IOTA titled “A Cryptocurrency Without a Blockchain Has Been Built to Outperform Bitcoin” This article focused on the issues in IOTA and how IOTA marketing is designed to hide these issues. One of the most intriguing examples is also among the most obscure in the cryptocurrency world. Called IOTA, it has jumped in total value from just over $4 billion a few months back to more than $11 billion as on 02-Jan-2018 at $4 per coin. But that isn’t what makes it interesting. What makes it interesting is that it isn’t based on a blockchain at all; it’s something else entirely. Instead of a blockchain, IOTA uses a “tangle,” which is based on a mathematical algorithmic concept called a directed acyclic graph. IOTA does not have a working stable Tangle yet. However, they claim that the devices can be hooked on to their tangle called “Blockchain”. On top of this, IOTA announced in November 2017 that users of IOTA can earn money by selling their data over IOTA tangle. Only when there are users they can opt to sell their data also called “Data Monetization”. Many questions remain such as — Is data monetization the biggest problem in IOT? Is anyone ready to sell their data? Is there a data market today?
Cryptography has taken years to perfect. So much so that anyone in the industry knows you never try to create your own, else you have to go through the SAME growing pains that all cryptography has gone through — years of it being broken over and over and decrypted over and over. And yet, IOTA has chosen to ignore all the pain and build a Tangle with all the flaws of primitive blockchain solutions. Hurify is a Blockchain platform that is disrupting the IOTA claims with a working platform on top of already established Ethereum Blockchain. Ethereum is a smart contract based platform that allows the creation of the Decentralised application. The only concern on Ethereum is the transaction times for the blockchain transactions. Hurify address the transaction time issues of Ethereum with Truebit technology. Truebit decreases the transaction times by handling blockchain transactions off-chain and then bringing it back on-chain. Hurify focuses on the fundamental problem that is preventing the scale of IOT like skill and cost issues. Hence the Phase 1 of Hurify platform implementation that goes live in Q1 2018 supports service monetization. Phase 2 planned in H2 2018 focuses on the hardware monetization to help developers monetize their hardware resources for IOT development. Once these two fundamental issues are addressed then Hurify focuses on addressing data monetization in Phase 3.
Given the points presented here Hurify valuation of $25 Million with a stable and working platform only justifies that it is a worthy challenger for the broken IOTA at $11 Billion valuation.
Hurify-Token Sale
Hurify Token sale opens on Feb 1, 2018 and ends on Feb 28, 2018. The Token purchasers will be expected to provide few details under Know Your Customer- KYC section as part of the Token sale purchase request. KYC form is enabled now in our Hurify Platform for the Token purchasers to submit it prior to Token sale. Protecting our contributors and clients is a priority, KYC process enables us to do the same.
What is KYC?
Know Your Customer is a due diligence process by which a company can verify the identity of its customers. Hurify collects the following information as part of the KYC.
First Name/Last Name/Email ID/Address/Resident State/Resident County/ERC20 Wallet Address
Submitting the KYC form prior to Token sale allows you to complete your Token sale in lesser time and lesser details.
Why is it important?
Regulators across the globe are taking an increasing interest in ICOs. This can create uncertainty for cryptocurrency projects and their investors. While the national legislation is sometimes absent or unclear, Know Your Customer (KYC) is a universal concept that’s broadly understood in global finance. Voluntarily complying with KYC regulations provides many advantages to the company and its investors, even if they are not currently explicitly mandated to enact such process.
Here are the main reasons why this approach is advantageous
Voluntary compliance gives a project and its participants a stamp of legitimacy with regulators and banks. Cryptocurrency exchanges are beginning to exclude cryptocurrencies that did not properly implement KYC processes. Thus, not running such checks poses a long-term risk to a project. Voluntary KYC compliance may help TOKEN SALE reach a larger global audience and expand the number of jurisdictions in which they can take place.
Will I need to go through KYC and how does it work?
If you want to participate in the Hurify Token sale, you will need to complete the process. If you cannot complete the KYC process due to legal reasons, you will not be able to complete the contribution process. A Decentralized smart contract platform that aims to connect clients and developers to build innovative IoT products/solutions. Hurify builds trusted platform where developers who are spread globally get paid securely for their contribution towards product development. It enhances IoT marketplace by swiftly converting any concept to prototype with low development cost. Effective talent search and secure on-time payment are few additional features make Hurify platform unique.
Here is the platform development status for this week as of Nov 28, 2017
Features pushed to Hurify Beta Platform this week
Developer Evaluation and Finalize Feature
Project Terms negotiation till “Work in Progress”
Escrow Smart Contract deployment
Smart contract integration
Bug Fixes pushed to Hurify Beta
Fix for the Issues in Project/Job management for the client profiles
Fix the for issue with the document management for the developer profiles
Work in Progress Features
Payment
This feature will enable Client to initiate payment for the developer after successful completion of project. This will transfer HUR from Escrow contract to developer wallet
Feedback
This feature allows Clients to rate a developer based on the quality of work done
Certificate
This feature will create a certificate for the developers upon successfully completion of project
There was a lot of hype, excitement, money but also many great internet companies of today were born. The blockchain is going to disrupt every basic operational model like the Internet today. The Hurify is glad that they are getting into this technology early as we aspire to be a great Blockchain IOT company that creates true value for our community. Our vision is to enable a Blockchain economy for the future smart cities allowing all services accessible via their HUR Tokens.”
Official Web : https://ico.hurify.co/
LinkedIn : https://www.linkedin.com/company/hurify/
Youtube : https://www.youtube.com/channel/UCcdoOI2eF06j1W_E6tgs3uw
Whitepaper - https://ico.hurify.co/wp-content/uploads/2018/01/Hurify_Project_whitepaper_V1.7-1.pdf
My bitcointalk,
Name :cryplee
Bitcointalk link : https://bitcointalk.org/index.php?action=profile;u=1349234
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