Robert Bo Collins, the Chief of Operations at the Mercantile Bank, along with renowned cryptologist Nikolay Tasev, recently unveiled Ether Data. Ether Data is a new kind of cryptocurrency that is designed for ecological sustainability along with economic development.
The model developed by the ETD founders helps in solving complex scientific calculations, while providing harmony beyond just accounting in the crypto industry.
ETD or Ether Data is a completely decentralized all-purpose computing system which is based on an Ethereum smart contract. It comes along with storage and highly secured computing technologies provided by Disk Storage Banking or DSB.
The basic architecture is a pragmatic and optimized blockchain network which comes with a unique PoW and DSB consensus mechanism. This model is designed to facilitate sustainable growth of decentralized applications that can meet the criteria of research institutions, storage houses, web apps and so on.
The technology is instrumental in the Berkeley Open Network Computing Platform and many other scientific ventures as it provides with computing capacity. It also complies with the rising trend of integrating industrial applications, talent acquisition, open-source blockchain systems, etc. This allows the systems to be cheaper, simpler, and more versatile when it comes to component selection.
ETD deploys the Storage consensus approach, which combines Proof of Computation with Proof of Existence. The consensus protocol is chosen based on the needs of optimization of resources, including but not limited to distributed computing requirements and two-way data protection requirements in P2P bandwidth models.
The ETD is an efficient and optimized blockchain platform, which employs the novel PoW+DSB PoS architecture. This aims to increase the performance of various distributed programs that can meet real-world requirements.
ETD is an outcome of integration of distributed computing and time-dependent banking. The whole idea of this kind of banking is that everyone’s time is valuable. Therefore, the currency conversion rate registers the time, not the value.
The high cost of research and development is why public blockchains are not widely adopted. The ETD chain helps enterprises with reliable infrastructure, standardized plug-ins, and enterprise-standard technological advice.
ETD aims to speed up the adoption of blockchain applications while also providing impetus for growth in traditional industries. ETD aims to bring together high-tech, including AI, virtual reality, big data and so on. This will help in intelligent manufacturing, transportation, health care, protection of intellectual property, organic agriculture, new energy etc.
ETD uses advanced technologies to create a strong blockchain infrastructure for various application scenarios. In addition to that, ETD will also combine blockchain with industrial apps to boost productivity.
ETD General-Purpose Computing Labs will be built in collaboration with top higher study institutions. They offer ETD machines along with a complete blockchain to facilitate researchers to access the cost-effective ETD platform via a node and get access to computing as well as storage resources.
ETD also allows labs to transform their scientific breakthroughs into online apps targeted at a larger community of users. Scientists don’t need to hire developers, marketing personnel, and finance gurus to take the fruits of their research to the market.
ETD’s architecture combines computing and storage tasks efficiently and cost-effectively. The smart contract technology is suitable for a wide array of applications, which helps it build a decentralized ecological network.
Ecological building on the ETD blockchain, such as financial product management, blockchain IPOs, and research are the primary objectives of the ETD Foundation. It will make sure tokens are stable and are easy to circulate.