I would have liked to boast that I discovered Blockchain technology and I was one of it’s very early users but that would be a lie, I discovered the existence of blockchain technology sometime in 2015 and I immediately knew that I have stumbled on a Goldmine and that Blockchain was going to be the future. One of the first innovations brought by the Blockchain is Bitcoin.
Before the invention of blockchain technology, finance itself was heavily centralised, for example, you cannot send funds from one country to another without using centralised institutions like banks, most times these banks need your physical presence before the transactions are executed, this leads to time wastage and frustration because your have to leave your other activities and focus on that.
Then came the Magical Bitcoin, which made it possible to make truly peer-to-peer transactions across the world no matter the location, no matter the currency, no matter the language, Bitcoin can be transacted from the comforts of your home and the best part is that because of the decentralisation of the Blockchain, you can track the transaction until it's final destination. Sounds too good to be true right? Well, it had some downside and we are about to look at them now and after the problems are outlined, inwojld tell you about the solution I discovered and the picture below is a hint.
The year 2017 is jokingly referred to as the year of Cryptocurrencies because that is when Blockchain users spiked so much that we started seeing the problems which were previously not an issue, infact in December 2017, the CoinMarketCap of all Cryptocurrencies hit an All Time High(ATH) of almost One Trillion US Dollars. The sudden spike in users exposed the vulnerabilities and some of them are Scalability and Speed of Transactions.
The Bitcoin Blockchain was made to handle 7TPS(Transactions Per Second) and the Ethereum Blockchain was built to handle 15TPS, and in that time period, Users in the Bitcoin Blockchain alone were making way more than 7TPS and this caused a terrible backlog in the Blockchain which lead to longer transaction confirmation time and higher transaction fees, users were having to pay as high as $25 as transaction fee and some had to wait for days before their transactions were confirmed.
This has made integration of Cryptocurrencies in the real world almost because existing Blockchains would not be able to handle the number of transactions not guarantee a frictionless blockchain experience, this problem is what made the SIDERA Project’s team to introduce a revolutionary solution called SIDERA.
SIDERA As A Solution
Sidera platform is created for consumerizing cryptocurrencies by enabling their use in retail Point of Sale (POS) through a smartwatch and a contactless smartband, just Bitcoin, Sidera has all the characteristics of decentralisation, Real Implementation, Open Governance and Incentivization that allows for the adoption of it’s solutions across the globe.
Sidera is a complete end-to-end solution for contactless and smartwatch retail point-of- sale (POS) including a full-stack reference implementation of all the components.
It involves a mobile application and point-of-sale (POS) terminals that are already in use. All the components will, through open source and open specifications made available for everyone. By releasing the full-stack reference implementations as open source and open specifications, sidera can enable fair global distribution of the Sidera protocols and also promote sidera network.
The Sidera network incentivizes participation in the platform through providing free hardware to
retail stores in the initial target regions, Users are incentivized to participate in the Sidera network through creating a simple to use platform and also it be easily accessible by all, with the convenience of mobile payments and the simplicity of a smartwatch. With a solution that decreases complexity and adds relevance of Cryptocurrencies to end users, sidera will see rapid mainstream adoption of cryptocurrencies. Sidera believes that the future growth of the wearable technology market would be driven by consumer preference for gadgets, increasing growth prospects of next-generation displays in wearable devices, and growing popularity of connected devices with Internet of Things (IoT), thus the integration of these features in the platform.
Sidera token (eQUOS) is the platform's utility token built on ethereum blockchain, it be used in the platform for daily transactions at a relatively low cost, it will also be used to incentivize users to increase the value of the token asamy people join the platform.
TOKEN TYPE: ERC20
TOTAL SUPPLY: 51,000,000 eQUOS
1 USD = 0.5 eQUOS
SOFT CAP: 1,500,000 USD
(if the soft-cap is not reached during Pre-Distribution and Distribution, the funds will be returned)
HARD CAP: 15,000,000 USD
TOTAL SUPPLY: 51,000,000 eQUOS
1% of funds raised will be donated to charitable organizations.
I will jump at the chance to state, now, that the thoughts introduced in this article is only a rundown of the colossal potential outcomes that the Sidera venture holds and offers to corporate elements and even individual clients. I, consequently, firmly prescribe everybody to peruse the Sidera whitepaper for a superior handle of this tremendous wander. The following are some other valuable connects to enable you to stay up to date with the Sidera venture.
White paper: https://sidera.io/docs/v1.0/Sidera_Whitepaper.pdf