In 2025, it is estimated that data monetization will be a major source of revenue for individuals and companies where the world will create 180 zettabytes (180 trillion gigabytes) of data, up from 10 zettabytes created in 2015.
RepuX facilitates in monetization of this data among data collectors, developers and users by providing 'Repux framework protocol' to accommodate the exchange of various types of immutable data.
The RepuX protocol blends multi-chain decentralized data sharing technologies such as IPFS, Sia, Ethereum & EOS into its system and is capable of being upgraded to a custom high-throughput blockchain at later stage.
RepuX protocol provides a unique opportunity for data producers to create value from their data by enablement of peer-to-peer data sharing to take advantage of improvising machine learning, big data, Artifical intelligence which can ultimately result in innovation across several industries.
Having said that, RepuX's ultimate goal is to build a secure, reliable and high-performance data transfer protocol that leverages connectivity to existing multi-level 3rd party apps and is easily adapted by a wide range of audience at the end of the day.
The technology of Repux can be broken down into 4 separate layers.
- Application Layer: Various decentralized apps (DAPPS) would exist at the top, that will be created by third-party app developers on top of existing RepuX's API framework.
A very simple example:
A developer could build an Artifical Intelligence system that informs the seller when to restock inventory based on size, colour or design.
Data Layer: Data to be monetized is stored within a decentralized infrastructure such as IFPS, Sia, StorJ8, hence data redundancy and data security is ensured using multi-signature cryptographic primitives native to the blockchain.
Decentralized Logic Layer: A decentralized logic is employed to handle transactions occurring on the data layer. This layer could be built on top of the existing Ethereum infrastructure; with the possibility of using EOS in the future or even a custom block-chain that offers fast transactions over existing medium.
Value Layer: This is the foundation layer RepuX Protocol sits at, empowering all the layers above, hence allowing parties to send value payments between one another for purchases and sales of data. Also at this layer, a mechanism for fairly distributing available blockchain based data storage is put in place. Henceforth, the value of tokens is determined based on demand for their use in data sharing contractual services.
RepuX Token Snapshot:
RepuX Website
RepuX White Paper
RepuX Announcement Thread
RepuX Telegram Channel
Author's Bitcoin Talk Profile: Raheal.akh