The blockchain powered identity protocol Metadium has listed its native currency META to the state-of-the-art cryptocurrency exchange platform KuCoin.
Metadium, defined as the next-generation identity protocol powered by blockchain. It proposes to build an identity blockchain ecosystem through a system service called the “Meta ID.” The role of the Meta ID is to provide a service that supports user authentication and personal information verification. Personal information is not collected in the blockchain to prevent privacy violations.
What is Metadium trying to solve?
Online and offline services that need an ID can render services using information accumulated in the Meta ID. For example, a service associated with a Metadium blockchain can provide basic services for subscription and log in, and provide services in the form of decentralized apps or centralized apps.
Metadium tries to solve a significant problem faced by the society today: that individuals (and “things”) do not have ownership of their data. Every time users sign up for an account on a service or a platform, they are providing these platforms with personal information. These platforms/services than can maliciously sell and share these personal data to third parties. Since most users have signed up to many different services, keeping track of where and how our personal information is being used can be an incredibly daunting task. In this case, our personal information becomes extremely vulnerable to data breaches. While data crimes are sometimes induced by hackers with malicious intent, most of them are a result of accidental data leakages by service providers with poor security practices.
Metadium is a project to give back this personal information to their rightful owners so that everyone can claim control over their own identity. Through Metadium, users can manage and have absolute control over their personal information at a minimum number of predefined points. Since this information is not prone to data hacking and leakage, we can prevent the side effects that arise from providing our information to different platforms and services.
How to mine META?
Metadium uses the proof of authority algorithms, meaning that only those with authority can produce blocks and mine META. To participate as an authority, users will require to meet the minimum requirements of computing power and hold a certain amount of META for staking. Once voted in by existing authorities, it can run a node to mine META.
The Meta Token
Meta Token is an ERC-20 standard token on the Ethereum blockchain; there is a Metadium ERC-20 contract that implements ERC-20 standard with a few modifications for some operations. We have plans to freeze the token along with our launch of the Metadium Mainnet. Then it can swap to Metadium ERC-20 token on the Ethereum mainnet to the ‘META’ – the native coin of Metadium – on the Metadium mainnet.
Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is neither responsible nor liable for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.