First let me clarify the definition of a term that I think readers of #binance square and members of @DAO Labs who participated in #SocialMining are probably already quite familiar with: Uptober. Since the #Bitcoin $BTC price historically has an upward trend in October, this month is called "Uptober". Onto my next question – well, what’s happening in the sector? Let’s take a look at that too.
Today, we are going to discuss Autonomys Network, which is a great project that will influence the further evolution of the internet.
Consider an environment where anyone engaging in an online environment also has an identifiable global ID and a means of effectuating a transaction using that ID. Autonomys Network is an organization that is constantly working to make this dream a reality.
Subspace Protocol: The Key to Security
Subspace is the basic building block of the Autonomys Network and operates as a filter on the Internet. Due to this protocol, every transaction you make is encrypted and no one can sneak into your data. So, while surfing the internet, you'll feel like you have your own private island.
Auto ID: Your Digital Passport
Auto ID is a unique identity given to you on the Autonomys Network. Just like your real-world identity, this identity will represent you on the internet and allow you to conduct transactions securely. With Auto ID, you'll have a safer experience when shopping online, sharing on social media, or signing up for any online service.
Auto Coin: The Fuel of the Network
Auto Coin is the token of the Autonomys Network. Similarly, as there is no car without gasoline, there cannot be a network without Auto Coin. Auto Coin has provided how other transactions relating to the network can occur at a faster rate while at the same time enhancing security.
Decentralized Structure and Consensus Model: Working Together
Who in the world is responsible for the correctness of a transaction over the Internet? Under traditional systems, this is most often accomplished by a central authority. That is when the consensus model does come in.
What is a Consensus Model?
In other words, the consensus model is a mechanism that assists all the computation facilities or nodes in the computer network whether a particular transaction is legitimate or not. This makes it possible to come up with dependable and clear technical structure.
What is the Consensus Model Utilised in Autonomys Network?
Thanks to the Subspace protocol, Autonomys Network has a special consensus model. This model makes it so that all of the nodes in the network are always talking to each other and checking on the validities of the transactions. As a result, the network is protected in the existence of any attack or an error made during the occurrence of the said event.han anyone else.
Why does Autonomys Network Matter?
Security: Prevention of loss of information and fraud.
Transparency: Every transaction carried out is documented.
Fairness: Opportunities for all.
Privacy: Protection of personal data.
Autonomys Network is a very important step for the future of the internet. Thanks to this project, a safer, more transparent and fairer internet environment will be created.
Autonomys Network offers you a safer and freer experience on the internet by giving you a special digital identity. Your data is safe thanks to the Subspace protocol, your identity is protected thanks to Auto ID and the continuity of the network is ensured thanks to Auto Coin.
