IOVO — Creating a revolutionary omniledger situation through the power of blockchain technology, thus revolutionising user social and commercial ability and profit. Frankie Malton Follow Oct 29, 2018 · 6 min read

The internet is growing at a rapid pace. The exponential rate at which technology is changing, upgrading and developing is massive, and the need for the cohesive and coherent marketplace is huge. AI services and automated functions and features lool set-top overthrow all traditional means of commerce and finance, and where does that leave the global marketplace as a whole? Without regulation and rules, the systems could be unfairly dominated, and become a minefield for all who use them. The need for a secure and safe aspect of the internet to protect what some would term as ‘humanity’ itself is at the forefront of many peoples minds and worried, and this is where IOVO neatly steps in.

IOVO — THE Internet of Value Omniledger platform looks to eliminate the problems caused by value ownership, that of money and data, back to the individual who participates. The platforms decentralized network database has a number of decentralized dApps, allowing the participant the most benefit and reward from their usage. IOVO have seen that the future of the Internet is set to be controlled in a majority based fashion by DAG (directed acrylic graph) technology and blockchain technology, and through the platform, users will be able to retain their value at not only an individual level but within the wider community as well.

In the eyes of IOVO, data is intrinsically and overwhelmingly the base of humanities value and the architecture that holds the key for any further within the global internet market. IOVO state that as Agricultural markets and Industrial markets have already become automated and the service marketplace has become what they term as ‘democratized’, meaning that the need for the social and humanity based future to be safe and secure, and indeed valid and valuable, is incredibly important. The need for a fully transparent, decentralized, cohesive and coherent system for in which to collate and collect data, store said data and manage the entire ecosystem is at the forefront, and IOVO has the exact solution. Utilising the way on which algorithms currently work, and changing them to ensure that the human value factor is once again important, revolutionising the way in which the blockchain and cryptocurrency based internet are heading.

The DAG technology that IOVO utilise will operate as a platform that a variety of applications can operate under. The platform itself will collect, collate, store and secure participant data within the applications used on the platform, and all assisted by the entire user based content operations. Participants will have full control over who much of their data is used and accessed, and every time an action is browsed or queried, a payment is required. The entire platform operates as a fully cohesive data based wallet system, and the massive database that it will generate is set to be unrivalled. Benefits that were previously only accessible to owners and developers will now be available to all who partici[ate and use the system.

Users have full ownership over digital based value aspects and privacy, utilising the data wallet aspect of the IOVO network, increasing ownership capabilities, security and transparency, monetization and anonymity. Application owners (including dApp) will benefit from the full data-based security that the blockchain offers, and the decentralized notion of the applications within the platform. Application owners will have a comprehensively based access field to a global database with the scope of the data wallet, monetization benefit from the own data, including increased and effective security, increased acquisition of users and a history base that will be unmodifiable, increasing accuracy and security. Thirdly, Companies and Data Analysts will be able to utilise and benefit massively from the tools provided by IOVO and the platform as a while, including a massive scope if data to be easily accessible within a complete network fascia, increased research and data analysis, anonymity, one to one contact with surveyed users, valid and accessible to their business, and of course, secure and safe data storage facilities with unmodifiable histories.

IOVO has no limits to where and whom it can accumulate data from, there are no field limits, and the item can cohesively work with all industry and business. The sheer scale of applicable data analysis and valuable algorithms will massively change the way in which any business or industry can exist within the ever-changing blockchain based technological field. IOVO never sacrifices data privacy for profit, and thus all results will always be the most accurate and effective for all who participate within the ecosystem generated by the platform.

The peer-to-peer nature of the IOVO network ensures that participants can access and join at any time, and immediately begin making transactions. A user becomes a transmitter of transactions, resulting in the transactions reaching validators, which in turn are verified by the validators including the smart contract feature of the blockchain, resulting in an incentivised network reward prices, all issued by the IOVO PoV (proof of value). The decentralized application feature ensures that all participants and users are equal within the IOVO platform. Early users of this platform will have the feasibility to earn coins through mining, however as the platform increases in maturity and size, this will become less profitable, and the very action and nature of the platform will offer up the profit feature.

Value and profit are generated by the PoV feature of the IOVO platform, echoing the idea of stake score and value score. Each user will have their own personal value score within the network as a while, and the stake score will have emerged from the Profit of Stake that the user has garnered, to then become a PoV. Once the system is fully and cohesively activated, stakes will no longer have a role, and value score will accumulate and generate all reward, benefit and profit value. The platform has a multilevel approach to its system, with an ACCOUNT — facilitated by a pair of cryptographic-based keys for IOVO users to access their wallets, a TRANSACTION, with cheap and speedy transactions easily facilitated, with the option for more complex level transaction as well, and thirdly, a STANDARD TRANSACTION, carrying a value — encouraging and assisting fast and cheap money transfers. There is also an EXTENDED TRANSACTION feature, these are accompanied with a higher marketplace fee, a GAS fee system, created in the likeness of the ethereum based system, the BLOCKCHAIN- utilising the layers of architecture that miners can verify, the TRANSACTION DAG — something that is new and fresh, and looks to revolutionise the blockchain in its accuracy and architecture. The SCORING and SCORING MANIFEST both assist with the way in which the data is accumulated and published, followed by the DECENTRALIZED dApp — the base of the entire platform as a whole, the TOKEN, the WALLET facility and ultimately, the PROOF OF VALUE, the entire platform evolves and moves smoothly and seamlessly, with massive transparency.

A rundown of the applications currently marketed by IOVO includes the market making influence economy application — influnomy. This application assists and shares personal asset-based data, generating profit and benefit rewards along the way. IOVO have also generated an insurance-based application, to incentives and market securely insurance based data, a DROPP news dApp, rewarding participants for news contributions and location data alike, a banking and finance based DAG, a Hr Aand recruitment based DAG, and even food quality applications, researching and creating secure and accurate ways for in which to supply the food chain in the best and most cost-effective way, resulting in increased efficiency and cost-effectiveness.

IOVO is an extremely well thought out and crafted algorithm and blockchain based technological wonder. The thought process behind the ecosystem that IOVO will generate has mitigated any previous issues and limitations that other data based platform may or have encountered previously. The security level and encryption based technology are second to none. The creators behind the platform have also left nothing to chance, and have embraced all technology openly, including Quantum security, in the occurrence that this technology will become commonplace. Each application within the IOVO ecosystem will publish a manifest, reassuring and quantifying the data accumulated by the application. The entire platform moves with utter cohesiveness, and its decentralized nature makes it the only answer for a secure, humanity based, data sharing global marketplace. As a blockchain enthusiast myself, I am eager to watch and learn from this potentially revolutionary platform as it takes over the global marketplace.

Website: http://iovo.io/

Whitepaper: http://iovo.io/assets/whitepaper.pdf

Facebook: https://www.facebook.com/iovoledger

Telegram: https://t.me/iovoledger

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Article was written by frankiemalton

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