Essentia is a modular platform aimed at the development of the decentralized ecosystem, allowing users to have absolute control of their media accounts, personal data, and, most importantly, of their digital assets. The system is intended for use by people, machines, and even IoT devices. Let us consider the key features and opportunities of this project.
The Idea of Essentia
Designed as the unique system for co-functioning and data management, this platform coordinates and interconnects different parts of the Global Net into a single ecosystem. By virtue of Essentia, all these ‘building blocks’ start interworking with each other and with the old centralized solutions, which can trigger the so much expected paradigm shift. As for users, they get the opportunity to unite their accounts created on various platforms into a single solution. This scheme replaces obsolete models of Net use and enables new promising intercommunion for both humans and machines.
The concept of Essentia is based on two major elements:
Essences. They collect and interlink the data from different sources. The information integrated within the limits of this ecosystem concerns individuals, organizations, groups of companies, and so on. With all this data, the system creates decentralized internet users, who interoperate by sharing information, making smart contracts, giving permissions to various deals, etc.
Synergies. These are the so-called ‘connective tissues’ of the Essentia’s ecosystem. Synergies link multiple frameworks, channels of information, and modules into a single network. In other words, they let all these systems and solutions interoperate in the most effective manner.
The system’s functionalities are based on the concept of the “seed”. This term refers to the customer’s personal information wherein he has been given the absolute control over it. Essentia’s seeds possess a variety of cryptographic features like signs, verifies, encrypts, and decrypts.
How It Works
The developers of this new project offer users the following scheme:
- First of all, you need to register in the system. You can access the website from any device you use.
- Having logged in, you get the opportunity to customize your decentralized and centralized accounts and choose the data you want to share. In this system you may be anonymous or pseudo-anonymous. You can also follow the KYC principle within your identities.
- The system integrates all of your digital wallets, so that they were in different places (for security reasons), but have general access from your Essentia’s profile. Here, you can perform operations with Bitcoins, Ethereums, ERC20 Tokens, Ripples, and other tokens.
- Integrated with the leading storage infrastructures (Swarm, Ipfs, and Storj), Essentia lets you store your data under increased safety and security conditions, with the pieces of information being coded and censor-resistant.
- Buying the project’s tokens, called ESS, users get the opportunity to control all of their identities, pieces of data, and digital assets from any device, both on-chain and cross-chain. They can also perform decentralized and accountless currency exchanges.
Creators of Essentia
The team behind this project includes two early Bitcoin adopters from Amsterdam: Matteo Gianpietro Zago and Mirco Mongiardino. Matteo has been working as a principal in blockchain-based startups since 2014. 8 years ago he launched his first project; it was a low budget startup, which turned in a couple of years into a prosperous business with such outstanding partners as Uber, Facebook, and others.
Mirco Mongiardino is the product lead and a web entrepreneur. He can boast of an impressive experience in creating high-tech products for analytical processing, commerce, and social media. Having discovered the world of cryptocurrency in far 2013, he started multiple projects, most of which became very successful.
Vladimir Holubovych is Essentia’s operations lead. Several years ago, he was busy making embedded ads for a number of international firms. He worked for the greatest Italian public TV stations and helped worldwide renowned politicians perform their web-marketing strategies.
There are many other promising specialists working on the project of Essentia, such as Artur Petrovych (chief transformation officer), Alex Grek (chief software researcher), and others.
The ecosystem’s advisors are Moe Levin (early supporter in RSK Labs, Dropbox, etc.), Erik van der Staak (business trainer), Thomas Graham (senior partner of TLDR), Ismail Malik (officer of Icon Foundation), and many others.
Essentia Tokens and ICO
The currency of this system is represented by ERC20-based Ethereum Tokens. They all have the same quality and price. 1 Ethereum is equal to 15,000 ESS Tokens. The pre-ICO is scheduled on March 15th to April 14th 2018. The ICO will start on April 15th and end up on April 30th 2018, at 11 o’clock.
The ESS Token will be used by the participants of the project for different purposes. For instance, they’ll be allowed to pay for extra in-home resources with these cryptocoins, as well as rent additional decentralized unaffiliated resources interconnected with Essentia.
The project was started at the beginning of 2018. The first quarter of the year was devoted to the development of the software’s raw functions, file storage, dApps store, blocktime initial rollout, etc. The specialists behind Essentia worked out community engagement bonuses and conducted ambassadors campaigns.
The second quarter of 2018 will be devoted to the development of additional backend and home modules, minimal and low-res adaptations, and the first beta of the ESS framework. The specialists plan to select the final prototypes and develop bounties.
During the following three months, they’ll perform full blocktime rollout, create Alpha ESS token layer, and start the native mobile app beta. The fourth quarter of 2018 is going to be the time of the initial ESS-Eggs release, development of advanced features, and the use of incentivization programs.
According to the team’s plans, in the first half of 2019 they’ll create the decentralized ID full rollout, complete the ESS token layer, create fully customizable framework, and perform implementation of IoT. The complete launch of the project is set at the end of 2019.
All in all, Essentia gives users a unique identity that can be implemented in a number of applications and devices. Upon the successful launch of the project, it will allow people to seize the advantages of early decentralization, which in its turn guarantees absolute safety and security for both people’s data and assets.