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Project Decorum

What is Project Decorum?

Project Decorum is a decentralized platform for helping users to organize and manage all their digital social activities without worrying privately. As more people adopt the digital lifestyle, the need for related communication has become even more important today.

Project Decorum was initiated under the MaidSafe blockchain in 2016 and run as a research-based system under the leadership of Harmen Klink, an undergraduate at HU University of Applied Sciences Utrecht. The association with more established coin such as MaidSafe Coin gave Project Decorum a larger audience that helped to spread it faster to the crypto community. Despite this, the performance of its price was poor, especially in the first 12 months after launch.

  • A closer look at project Decorum performance in the market

When Project Decorum hit the market in early June 2016, the value was $0.0089. About three weeks after, on June 25th June 2016, the value had dropped by 80% to $0.0056. The price remained between $0.0089 and $0.017 until April 2017 when the value took a bullish trend.

On June 21st, 2017, the price shot up to hit the first peak of $0.11. This was approximately 1250% growth from the starting price about one year earlier. The price continued with the upward trend and hit another peak of $0.244 on September 7th, 2017 before dropping to $0.088 in early December.

The coin’s price continued on an upward trend and hit $0.28 on January 13th, 2018. This was the highest mark in the coin’s history. Despite the positive show in the last two-quarters of 2017 and start of 2018, the value took a negative trend to hit a low of $0.02 by the close of March 22nd, 2018.

However, the coin ceased its operations from the market. The exit since May 2018 has resulted in speculation that it could have been a Ponzi scheme. But the development team of Project Decorum has not provided a reliable explanation about it. It will be interesting to see whether they will start trading in the market and restore the investor confidence.

What is the problem that Project Decorum solves?

When social media platforms entered the market, they made communication especially those targeted at specific groups easily and effective. However, they took away the control of user info and communication. Here is a closer look at the issues that Project Decorum solves.

  • Control of personal data by multinationals

When you add personal info and run communication channels on channels such as Facebook and Instagram, you have no control over how it is used. Though your target might be communicating with a specific group of interest, personal data is still harvested and used for marketing and even political reasons.

Early in 2018, the Facebook community was shocked to realize that the bulk of its users’ details had been mined without personal consent. The data is believed to have been used to influence the performance of various companies and even political contests’ outcomes. Though other social media networks did not come out to indicate they run a similar model of harvesting personal info, it is expected that centralized data storage makes ‘stealing’ of user info easy.

Project Decorum targeted to take control of personal info from the hands of the multinationals and bestow it to users through decentralization.

  • Centralization of data in social events management

If you are organizing an event on a public platform such as social media, the data is stored in centralized vaults. This makes it an easy target for cybercriminals. In the event of an attack, failure of centralized data centers, or mismanagement, you are likely to lose the info.

Think of a situation when Facebook servers go down for a few moments. For example, Facebook and WhatsApp went down on September 2018 leaving users in total confusion for about 20 minutes. If you were in the middle of organizing a crucial social event, your business could run into major losses. This is the problem that Project Decorum targets to address.

  • Lack of privacy in social media and crypto networks

When you communicate on social media, there is no privacy. Your communication can easily be accessed by millions of people in the respective network. Even in the event that you use security features in various networks such as hiding profile details, the management can still pull out personal details. But it is not just the social media that lacks privacy.

The conventional banking system is also run in an open manner. This means that when you run a transaction, cashiers, bank management and political leadership of the time can easily access your financial details. Therefore, you can be an easy target by attackers or even though legal battles.

Interestingly, even the blockchain networks that were designed to guarantee optimal privacy are also proving to be less effective. If you take the case of Bitcoin, you will realize that many people are moving away to other privacy-oriented networks such as Zcash. It has been established that running transaction analysis and IP address analysis can help to uncover the identity of people making transactions on Bitcoin network.

How does Project Decorum solve the problem?

When Project Decorum was created in 2016, SAFE Network targeted to extend the concept of decentralization in the niche. Here are some of the methods it employed to solve the above problems.

  • Proof of concept consensus model

The Project Decorum is created on the proof of concept model that targets to put people in greater control of their activities on digital platforms. Proof of Concept protocol allows users to Create Custom Categories that allow a user can only communicate with the targeted groups in a specific niche.

The protocol further allows users to post new topics and leave replies. This means that it runs like the standard social media profiles but with additional control. If you do not like the progress of a specific topic or its progress, the protocol also allows you to collapse the topic branches.

To maintain greater control over communications, the concept allows Project Decorum users to automatically check queries from clients. Note that all identities on the project use cryptography to sign their content so that personal info cannot be easily harvested without user consent.

Whether you want to facilitate the growth of a specific project, build on an idea or simply run a group under a specific brand, Project Decorum guarantees high efficiency. Note that the payments for services on the network are paid using the project’s native coin, PDC.

  • Total decentralization

Unlike the current highly centralized platforms, Project Decorum operates as a completely decentralized network. The system runs as a network of nodes spread in the SAFE Network. This means that there is no centralized data center for storing data used in the network.

By using a system of nodes, it means that your data will always be available no matter the time of the day or night. There is no risk that the data can be attacked or mismanaged by a centralized authority. When a transaction is initiated on the network, it is taken by miners on the network who also help to mine new blocks.

  • Project Decorum operates on the SAFE Network  

To facilitate better control of personal communication, Project Decorum runs on the SAFE Network. This is a blockchain network that supports the development of decentralized applications. Because all transactions have to be processed on the network, it implies they are safer compared to running them individually.

This model was crucial in selling the platform especially in 2017 as more users appreciated the extra focus on anonymity and privacy. It is because of this association that Project Decorum has never been hacked as others such as Bitcoin Gold hold tags of attacks immediately after launch.

What makes Project Decorum better than it’s competitors?

When Project Decorum was initiated in mid-2016, it ventured into a wildly competitive niche. For example, the number of digital coins in the market had grown to more than 1600 by the third quarter of 2018. Here are some of the things that make Project Decorum better than competitors.

  • The project targets a niche that has been less trodden. As more crypto networks target the financial niche, Project Decorum has targeted a path that is less explored. This means that it is likely to enjoy near monopoly status as more people start running their projects on digital platforms.
  • It is based on a well established SAFE Network. Instead of developing its own network, the Project Decorum is based on the SAFE Network. This is one of the unique methods helping to keep the platform secure and popular.
  • The network allows users to manage their digital social activities without risking their privacy. Unlike the common social media platforms that run projects in an open manner, the Project Decorum has provided users with an opportunity to take full control over their communication.

You can now create own communication groups, branch communication networks, and collapse/ upgrade them at will. Note that all your info remains encrypted so that no one can easily harvest it.

  • The native coin allows users to join and send value on a peer2peer basis. The native coin on the Project Decorum enables users to send value on a peer2peer basis. It allows them to run just like other coins such as Bitcoin or Ripple. No matter where you want to send value, the transactions do not go through centralized organizations such as banks. Rather, they are completed on a peer2peer basis to make them faster and cheaper.
  • It provides users with an opportunity to join and own the network through coin ownership. Unlike the banking system that makes users feel passive, Project Decorum is different. When you join the network, you become part of its governance system. This means that you will be called to vote when decisions about the project are being made.

How can Project Decorum’s be categorized?

Project Decorum can be categorized as a highly ambitious project that targets taking away the monopoly currently held by data companies especially social media platforms. As more people join the blockchain era, Project Decorum is offering them a reliable option to control all communications and advance their operations.

However, it will be interesting to see how the project plays in the highly competitive industry. For example, other platforms that support decentralized applications could release such apps and optimize competition.

What is Project Decorum’s vision on security?

The Project Decorum’s vision on security is to provide users with the most secure platform for managing their digital communication. Here are some of the methods used to keep Project Decorum and user info secure:

  • The project is hooked on SAFE Network whose security has already been proven
  • The system operates on a highly secure proof of concept
  • The project runs as a completely decentralized network to facilitate even distribution of coins and reduce the danger of 51% attack.

Examples of Project Decorum use cases/ applications

To win more people into the crypto space, Project Decorum seeks to ensure that its native coins and and platform have diverse applications. Here are the main use cases of Project Decorum:

  • You can use Project Decorum to manage your digital project communication system.
  • The native coin, PDC, can be used to pay for products and services in stores that support it. You can also buy from stores that support different cryptos by converting the coin to the supported token.
  • Project Decorum coin can also be used to pay for government services. If you stay in states that support digital currencies, it might be possible to pay for government services. For example, Arizona allows users to pay for taxes using cryptocurrencies.
  • Project Decorum’s digital coin can be used as a store of value. Instead of saving your funds in a bank, consider buying PDC and holding them. Then, you can convert the coins when in need of cash or the value goes up.

NOTE: If you target to invest in Project Decorum, it is advisable to exercise caution because of its absence in the market since March 2018. Indeed, no exchange has listed it since then.

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Bata

What is Bata?

Bata (BTA) is a decentralized and open-source cryptocurrency that was forked from Litecoin core. It was launched in May 2015 with the main focus being to provide privacy and anonymity to transactions. The cryptocurrency name is derived from the term “barter” which means exchange of products for others without using a currency.

The cryptocurrency uses scrypt proof of work hashing algorithm just like the mother coin, Litecoin. However, it differs fundamentally by only having five million coins as opposed to 84 million LTC. The focus was to keep the coin supply limited and ensure the value remains high.

However, the effectiveness of the low supply model in keeping the price of the coin high attracted criticism from the community because the value has remained relatively low compared to others in the market. Here is a closer look at the price performance of Bata coin.

  • The performance of Bata Coin in the market

When Bata coin entered the market in May 2015, the value was $0.0008. Then, the value dropped marginally to $0.0002 by October before taking a sluggish but steady rise. By December 2015, the value had risen to $0.003 and climbed further to $0.01 in April 2016. The value slid back to $0.007 by December 2016 before taking a steady bullish trend in 2017.

By February 2017, the value had grown to $0.03 before taking a sharp bullish trend that shattered the $1 ceiling to hit $1.2 in June 7th, 2017. This was the highest mark in the Bata’s history. Then, the price took a downtrend sinking to $0.4 before hitting another peak of $0.8 in October 2017.

Again, it fell sharply to hit a low of $0.1 by mid-November 2017 before shooting to $1.13 in January 14th, 2018. But this positive show of 2017 did not last. Between the first quarter and close of the third quarter of 2018, the value of Bata took a steady bearish trend culminating to $0.07 by the close of September 2018.

What is the problem that Bata solves?

When Bata was created in 2015, the founders were responding to the community’s cry that financial transactions were overly complex and expensive. Therefore, they sought for a comprehensive solution that could help address the community issues and advance the crypto niche. Here are the problems that Beta solves.

  • Lack of privacy in financial transactions

The conventional financial model is operated in an open manner that makes it easy for people to easily access user info. The banks and credit card companies are required by law to run open and auditable systems that can be used to easily identify the risky parties.

The anti-money laundering (AML) and know your customer (KYC) rules imply that the financial institutions serve as a peeping point for present administrations. Therefore, when you send funds using a bank, the details are known by cashiers, bank management, and political system.

Lack of privacy means you can be an easy target by attackers and even lawyers. Once you are known to have a lot of money in a bank account, a case can be hauled your way in order to force you to seek expensive legal redress. At the end of the case, the lawyers will have made some income from you.

A reliable method of enhancing financial privacy is going the blockchain way. However, even the blockchain strategy does not always guarantee the anonymity that people seek. For example, Bitcoin platform is not as private as people expected it to be after launch.

The blockchain network uses pseudonyms method of encryption which makes it easy for authorities to break through and know individual user’s details. For example, even with the pseudonyms, the IP address can still be followed to reveal the source of transactions. Your details could also be pulled out through transaction analysis.

  • The high cost of sending value especially internationally

The cost of sending value from one region to another through wire transfer is very high. Banking institutions are run as profit-based organizations that seek to optimize returns for shareholders. The financial institutions also raise their charges to cater for various expenses such as rent and wages.

Though the blockchain networks such as Bitcoin and Ethereum have helped to pull down the cost of sending value with a great margin, the Bata development team held that it is possible to cut the charges even further.

  • Poor adoption of cryptocurrencies into the society

While the society appreciates that blockchain is the way to go in solving major societal problems especially in the financial sector, the uptake has been very poor. If you walk down the city targeting to make a purchase with native coins, the chances are that only a few or none at all will be available.

When new coins are announced through initial coin offering (ICO), the people who run to mop them from the market are investors. Most of them target holding the coins until the price moves up before selling at a profit. Therefore, many users especially those interested in the daily application of the coins end up getting locked from away.

How does Bata solve the problem?

To solve the above problems, Bata opted for a multi-dimensional approach. Here are the main strategies that Bata employed to address them.

  • The Onion Routing network

The Onion Routing technology is a method of enhancing anonymous communication in a computing network. Bata uses TOR system by encapsulating the messages in layers of encryption and application of analogous layers. The encrypted data is relayed via nodes referred to as onion routers that ‘peel’ off progressively until the message reaches the final destination.

The TOR system helps to keep transaction anonymous because the involved nodes do not know the ultimate destination. Instead, they only have info to help them hand over to the next node until the message reaches the final destination. Besides, they peel off progressively so that an interested party would not find info to follow once a transaction has been completed.

  • 12P technology

To keep user info and communication as private as possible, the Bata development team also employs the invisible internet project (12P). This is an invisible anonymizing network designed using Java. It operates using the same principle as TOR but it is designed to facilitate real-time communication in a decentralized manner.

The commitment to anonymity made Bata get categorized with other top private coins such as Monero and Zcash. This design has also helped to make the native coin more competitive.

  • Complete decentralization

Most of the problems that Beta seeks to solve are addressed through through decentralization. Bata operates as a network of nodes that run the platform. This means that instead of relying on a centralized organization such as the banking system, the transactions and governance are operated by users spread in the network.

When a transaction is initiated, it is picked by nodes on the platform that follow back to check whether the initiator has ample funds and also prevent double spending. Note that with advanced encryption and use of 12P technology, the miners can only follow back to confirm public address balance as opposed to knowing the details of the private keys.

By keeping away the centralized financial companies, it means that Bata does not have to incur the cost associated with standard transactions. The only cost that Bata users have to incur is paying miners a motivation fee and supporting the network development. Note that users are also involved in setting the price through decentralized governance.

What makes Bata better than it’s competitors?

When Bata entered the market in 2015, the technology was evolving rather fast and new coins were joining the market at a very fast rate. By mid-2018,  more than 1500 coins had entered the market. But Bata is also competing against the conventional financial services providers such as banks and credit card companies. Here are the things that make Bata better than competitors.

  • The Bata coin is completely decentralized. This means that it bypasses the profit-seeking organizations which make the transactions faster and cheaper.
  • By utilizing the proof of work protocol, it users can use and own the Bata network. This is different from the common banking or credit card models where users are not consulted when new features or decisions are being made.
  • The Bata system is a completely anonymous crypto coin. This means that you can save and send money without worrying about getting discovered by third parties such as government authorities.
  • The Bata coin has a very aggressive team that focuses on progressively advancing its network. For example, the team explored and adopted TOR technology that helped to enhance anonymity and security of the native coins.
  • The platform has been in the market since 2015 and demonstrated that its features and structures are stable. Unlike the newer projects that are viewed with skepticism because users do not know whether they will turn into pump and dump schemes, Bata is attracting more users because it has been proven to work.

How can Bata’s be categorized?

Bata is a completely decentralized, anonymous and ambitious project created to help users run their transactions without worrying about third-party seizures. The application of advanced technologies such as The Onion Routing network and 12P technology has made the coin get categorized together with others such a Monero and Zclassic.

What is Bata’s vision on security?

The Bata’s vision on security is to provide users with a completely anonymous and secure platform for sending value. The platform has demonstrated its commitment to achieving the mission through its unique features such as The Onion Routing technology. Other methods used to keep the network secure include:

  • The system utilizes advanced encryption that helps to keep user info free from third parties and attackers.
  • The system runs as a completely decentralized system. This implies that there is no single point of failure because the data is stored by different nodes spread in its system.
  • The development team progressively reviews the security of the network and releases updates to close all gaps that can result in attacks.

Examples of Bata’s use cases/ applications

To know the suitability and effectiveness of a cryptocurrency and its native network, one of the reliable methods is looking at its applications. Crypto networks such as Bata are projected at reaching more people through diverse applications. The following are the main applications of Bata coins and its platform.

  • Bata coins can be used to send value on a peer2peer basis. Like other coins, the Bata tokens can be used to send value on a peer2peer basis. Note that unlike the banking system that comes with restrictions that make it impossible to send funds on weekends and public holidays, Bata coins can be relayed any time of the day or night.
  • The Bata coins can be used to pay for goods and services. You only need to identify a store that accepts Bata coins downtown or online to pay for your merchandise. Note that even in the event that only a different coin is supported, it is still possible to make a purchase by converting to the supported coin using crypto exchanges.
  • Bata coins can be used as a reliable method of investing or saving money. You only need to buy the coins and hold them awaiting the price to go up before selling. To recover your funds, you can sell to buyers either in peer2peer platforms or centralized exchanges.
  • Bata coins can be used to pay for taxes. If you live in a jurisdiction that supports cryptos, it might be possible to pay for government taxes using Bata. One example is Arizona.

After passing bill HB 1091 in April 2018, residents of Arizona can now pay taxes using cryptocurrencies.

  • The Bata system can be used to trade in the markets. If you want to trade cryptos, one option is pairing Bata with another token such as XRP. Note that the process will require you to start by joining the preferred market.

Traders are also required to verify their accounts before they can be allowed to trade in the markets. At this point, it is important to be careful because centralized exchanges can result in the loss of anonymity. Therefore, you should consider using decentralized exchanges that allow users to trade directly from their wallets.

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