For the cryptocurrency industry, Martti Malmi (Martti Malmi) is practically a “first after God”. When Bitcoin was still a young project with a small audience, Malmi worked on its development with Nakamoto; he had written much of the first update algorithm. And now he is preparing to market other cryptocurrencies.
CoinDesk writes, Malmi joined the team of programmers working on a new digital asset — AXE. The token will be the basis of the infrastructure of another project that combines an online reputation system Identifi (authored by Malmi) and distributed database GUN. The ultimate goal of complex developments — complete decentralization of the Internet.
Although the successes and limits fees ICO too early to say, part of Malmi can attract a lot of interested investors. Even while in College, he, together with the programming languages at the level of an Amateur, could win the trust Nakamoto, and even to reach a friendly partnership relations. After a couple of years after the successful launch of BTC in circulation, Malmi followed Nakamoto and “retired”, thinking that bitcoin will evolve without him.
“I was under the impression that bitcoin already went to another level, so to speak. The code was completely ready and working, bitcoin is increasing its community and has attracted many top-quality developers,” — said the programmer.
In 2014 he launched a decentralized platform, Identifi, which originally did not provide for the use of cryptocurrency. But as you progress Malmi began to realize that to weaken the control of online companies like Google and Facebook on the Internet, you need something else, something unique and innovative, motivated token. He explained:
“Most of the giants of online business like Google, Facebook, eBay and Airbnb, in fact, are centralized directories — lists search interface. If we want to stop them, we need a decentralized indexing”.
And here comes to the aid GUN.
Dual project
For greater efficiency of Malmi and GUN makers decided to establish a separate company, ERA.
“Martti discussed the fact that governments can still block the IP addresses of miners. Without network neutrality Internet service providers, Google, Amazon and others can reduce or redirect traffic. […] This is a huge vulnerability that affects everyone; therefore, we are working to create the AXE,” — said the CEO of ERA, and GUN Marc Nadal (Nadal Mark).
GUN, known for its minimalist approach to the description of the working technology, raised a $1.5 million investment during one of the rounds held in may. The company has created a decentralized version of Reddit and YouTube.
Despite the fact that these areas are somewhat slower than their originals, Nadal says that both the resource is already in use “mad” popularity. According to Malmi, Identifi contributes to their further decentralization through the introduction of additional anti-censorship apps for personal data.
The idea of a reputation system can cause understandable concerns associated with unethical or malicious use of the usual failures. Malmi argues that carefully straightened all the previous developments, to eliminate the possibility of similar incidents.
In the context of the goals and objectives Identifi ERA plays a key role.
“You can implement options a digital signature for custom posts and use Identifi to create profiles (name, avatar, info about yourself, etc.) bound to public keys”, — told Malmi. “Network of trust Identifi can be used to block spam, trolling and other unwanted content in the centralized bypass censorship. This is valuable for decentralized social media.”
To achieve the result required ERA structure database servers. That is why the company is working on its own token.
The mechanism of the AXE and ERA similar to other distributed storage systems (Filecoin, Storj, etc.), with one difference: instead of issuing a token for the data storage, the GUN will pay for their transaction, i.e. the flow of data within the network. Since the content of the transaction is encrypted, servers are not able to access the transmitted information.
The decline of expediency
Despite the participation in the development of the AXE, Malmi skeptical about the possibilities of the blockchain — at least in the form in which technology is often presented using its startups:
“The market has overestimated the blockchain-technology and compounded their unwarranted use. If you don’t need a distributed registry without trusted parties, then you don’t need the blockchain”.
At the same time, he believes that the ERA approach to the integration of cryptocurrency and decentralized Internet “right”. According to Malmi, cryptocurrency deserve recognition for what give impetus to decentralization of infrastructures.
In addition, Nadal, and Malmi claim that their network is more scalable.
“The only missing link was a decentralized database that would be able to handle the flow of information scale CryptoKitties,” said Nadal, referring to circuit overload Ethereum caused by the simulator Pets. To create such a structure, ERA will use the tokens as “free” money; at the same time, directly data storage in the blockchain will not be used. According to the developers, this project may well be relevant.
However, they recognize that applications on the basis of GUN is very limited compared to the centralized products they hope to replace. Anyway, Malmi and Nadal hope that their project will grow into something more, as both a programmer, like many others, believe that the future is decentralization. Malmi added:
“One thing I’ve learned is that it is better to do something meaningful than something beneficial. I believe that decentralized digital details and other basic infrastructure our society is one of the most significant ways in which today can run the programmer”.
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