The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Learn

Leveraging Blockchain Technology to Optimise Online Privacy

by 06/20/2021
by 06/20/2021 0 comment

In 2020, 1.7 MB of data was generated each second for every person on the planet. This figure includes the 306.4 billion emails, 5 million Tweets, and 95 million photos and videos shared on Instagram every day. While connecting with others has never been easier, our online footprint has become detrimental to personal privacy. Centralised servers held by powerful entities store vast amounts of personal information, which amplifies the negative impact of inevitable security breaches. However, even when there isn’t a hack, companies use data to gain lucrative insights, often without user consent.

As a result, more people are using privacy-preserving technologies like Virtual Private Networks (VPNs) while online. These networks block the collection of data by establishing a secure, encrypted internet connection. As a low-cost way to bolster personal privacy, VPNs have become increasingly popular. Forecasts indicate that the VPN market will expand at a compound annual growth rate (CAGR) of 17.2% between 2021 and 2027 — increasing from $29.2 billion to $88 billion if expectations are accurate. Beyond the forecasts, there is evidence that global interest in VPNs is accelerating. Google search metrics indicate the term “VPN” has seen increasing interest over the last decade.

Although VPNs provide broad protection, decentralised technology optimises privacy-preserving infrastructure. As such, the SpiderVPN is built across a network of distributed SpiderConnect routers to support a new kind of decentralised autonomous organisation (DAO) known as SpiderDAO.

Decentralising the VPN

A decentralised VPN (dVPN) prevents the logging of user activity and is more resistant to censorship than legacy solutions. The more users that join the network using a SpiderConnect router, the more distributed and resilient it becomes. This network infrastructure forms the foundation of the SpiderDAO — but what exactly is a DAO?

Although many consider Bitcoin to be the first DAO, today the vast majority of self-executing smart contracts are built on the Ethereum blockchain. From inception, DAOs follow the rules encoded in smart contracts which dictate how it will operate. Hard-code can determine reward issuance, how earnings are allocated to participants, or even layout how rules change in the future. Although the implementation of a self-regulated entity optimises autonomy, there are several inherent challenges to overcome.

The Pitfalls of DAO Frameworks

Although decentralised networks eliminate intermediaries and automate processes, on-chain DAOs are susceptible to threats that undermine their governance.

  • Plutocracies: Large investors (whales) can gain an unfair voting advantage by accumulating governance tokens, which buy voting rights. Depending on the DAO coding and the native token it utilises, this scenario results in an unequal distribution of power.
  • Exploitable Governance: DAOs utilise governance tokens to determine the voting rights of each participating member. However, these tokens are easy to purchase on secondary exchanges. This dynamic allows large investors to accumulate voting power, which undermines governance.
  • Rising Dark DAOs: These potentially undetectable entities utilise smart contracts to buy user votes with the intent to overwhelm governance systems, issue false signals, or manipulate the market. In short, dark DAOs dominate voter participation, which is especially concerning if DAO votes suffer from low, legitimate member turnout.

While these shortcomings create a significant barrier to widespread adoption, Spider has built a unique solution that effectively mitigates the threat of exploitable governance.

The SpiderDAO: Optimising Online Privacy

The SpiderDAO will first integrate with the decentralised SpiderVPN platform. This merger will provide owners of the SpiderConnect Router with access to a decentralised VPN service that provides online anonymity and a suite of premium features. However, to overcome the pitfalls of current DAO frameworks, SpiderDAO will employ a multi-layered governance model that utilises both hardware and software tools.

As such, the SpiderDAO will function as a fair and resilient hardware-based DAO that employs the Polkadot protocol to facilitate governance. This dynamic supports integrating of the Proof of Stake consensus mechanism, on-chain governance (SPDR Tokens), and hardware-anchoring (SpiderConnect Router).

  • “Liquidity as Utility” Token Model: Through this program, token holders can engage in liquidity mining while also benefiting from access to the SpiderVPN and subsequent participation in the SpiderDAO. By optimising token utility, there’s more incentive to build an ecosystem of value-generation that supports future community growth and involvement.
  • Hardware-Enabled DAO Voting: The decentralised, hardware-enabled voting process employed by the SpiderDAO is a first of its kind. Network security comes from safeguards that instantly detect the hoarding of hardware devices. By shifting voting power away from a token-only system, it’s more challenging to disproportionately influence elections without incurring significant costs — one router will always be one vote.
  • Dual-Governance DAO Voting: The SpiderDAO deviates from traditional DAOs by shifting voting rights away from token holders and towards hardware owners — one validated router equates to one vote. To participate in SpiderDAO votes, members must prove they have a SpiderConnect router on the network and staked SPDR tokens.

Collectively, the unique functions of the SpiderDAO and the broader Spider Network represent a paradigm shift in the way DAOs are built and deployed.

The Future of DAO Deployment

Together, the SpiderConnect hardware router, decentralised SpiderVPN network, and SpiderDAO interact to deliver an entirely new online experience that merges centralised and decentralised technologies. The SpiderVPN is also faster and more secure than centralised counterparts like ExpressVPN and Nord, further cementing the platform’s value proposition.

Most notably, the Spider “Liquidity as Utility” program builds on the utility of native tokens. This endeavour is critical, given many are critical of governance tokens that provide little utility to holders beyond voting rights that may have little impact on the project’s trajectory. As such, the ability to engage in liquidity mining using the native SPDR token incentivises others to become part of the network and encourages community engagement. In short, participants get paid to use the Spider Network and can decide how that money is spent — everyone benefits.

By diverging from consensus mechanisms of the past, the SpiderDAO circumvents the hurdles of legacy DAO frameworks and fosters new opportunities across a myriad of use cases. This time, your online privacy is the driving force of innovation — but the possibilities are endless.

 

Source link

Views: 0
blockchainLeveragingOnlineOptimisePrivacyTechnology
Share
0
FacebookTwitterPinterestEmail
previous post
Bitcoin, Ethereum start the week strong as countries clarify stance on crypto regulations
next post
India’s CBDC plan: Here’s the how, when and why

Related Posts

How to Trade Futures Contracts on Changelly PRO

11/14/2021

EtherLite (ETL) Cryptocurrency Price Prediction

11/12/2021

How to Trade Bitcoin Futures

11/12/2021

How to Start Trading Cryptocurrency

10/21/2021

How to Create Your Own Cryptocurrency

10/13/2021

Benefits of Cryptocurrency

10/12/2021

How to Instantly Exchange Cryptocurrency on Changelly

09/28/2021

What Is the Best Cryptocurrency to Mine?

09/27/2021

Best Ways to Make Money with Bitcoin in...

09/16/2021

Crypto Mass Adoption: Traditional Stocks in Your Crypto...

09/13/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Stablecoin reserves data reveals this about the ‘almost inevitable’ Bitcoin, Ethereum price trend

  • PSG Fan Token Tanks 10% Despite Lionel Messi Joining

  • Dog Meme Tokens Weekly Recap: Dogecoin, Shiba, and Baby Doge

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,225.00-3.79%
  • ethereumEthereum(ETH)$1,969.56-4.29%
  • tetherTether(USDT)$1.00-0.18%
  • binancecoinBNB(BNB)$323.38-1.18%
  • usd-coinUSD Coin(USDC)$1.00-0.20%
  • rippleXRP(XRP)$0.405542-3.87%
  • Binance USDBinance USD(BUSD)$1.00-0.25%
  • cardanoCardano(ADA)$0.51-6.22%
  • SolanaSolana(SOL)$49.17-7.99%
  • dogecoinDogecoin(DOGE)$0.083515-4.97%
  • polkadotPolkadot(DOT)$9.86-4.26%
  • Lido Staked EtherLido Staked Ether(STETH)$1,925.92-4.18%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,210.00-3.84%
  • AvalancheAvalanche(AVAX)$28.76-9.37%
  • tronTRON(TRX)$0.0774530.11%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.000012-6.62%
  • daiDai(DAI)$1.00-0.05%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$69.02-4.20%
  • CronosCronos(CRO)$0.185936-5.50%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.87-1.42%
  • matic-networkPolygon(MATIC)$0.64-6.78%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.76-9.04%
  • HederaHedera(HBAR)$0.389473-3.44%
  • FTX TokenFTX Token(FTT)$29.54-3.82%
  • bitcoin-cashBitcoin Cash(BCH)$188.75-5.28%
  • RareRare(RARE)$0.0461220.00%
  • moneroMonero(XMR)$187.52-2.58%