As per Substratum’s whitepaper, it is an open-source foundation that aims to provide free and unrestricted access to the contents of a new Web 3.0 using decentralized blockchain. Substratum network comprises of nodes distributed worldwide which will secure the content anywhere. It takes the help of advanced cryptography and encryption method, without using VPN or tor. It gives incentives to the web hosting computers in form of SUB tokens to secure the network. Now we will discuss how it works and the technology behind it.
Why do we need Substratum?
The web has become pretty much centralized nowadays. The web needs a web host to host the server which will assign an address(DNS) for your file and stores them on their computers. Major companies like GoDaddy, amazon web services, Bluehost are the big stakes here.They are becoming monopolistic day by day. It’s not good as they can increase the cost of web hosting. We have already heard the debate over net neutrality. To counter such problems, Substratum is introducing per-request billing system through microtransactions.
We all know about censorship in China as they have blocked 12 out of top 100 global websites including Google, Facebook etc. There are many countries like Russian, Iran, North Korea which tries to control the content over the internet. Let the people decide what they want to hear, watch and listen over the internet. To use the internet in those countries requires VPN or tor to access these sites which require additional software to install, on the other hand, Substratum network doesn’t require all these. It is trying to provide the interface which will be easy to use from any browser. You can simply open your browser and start using the sites through Substratum network.
How does Substratum work?
Substratum Node and Substratum Host basically let everyone become a web host. You can become a node just by few clicks on your computer and can earn passive income as SUB token for your service. Therefore the incentive process will strengthen the network. Members running their broadcast software as SubstratumNode will get SUB coins for serving requests. Substratum network will geolocate the right network to serve the content to appropriate user by using advanced machine learning and advanced compression algorithms. This will result in low latency, faster time and increase the efficiency to serve millions of sites, database, and applications.
Roadmap of Substratum
They have already wrapped up alpha test 1 successfully and updating their work on the weekly basis. They are trying to create a platform (CryptoPay)that will allow all sites running on Substratum network to process cryptocurrency transactions using any publicly-traded coins. In simple terms, you can pay for your goods using any crypto-coins like LTC, BTC etc. using SUB token as the conversion medium.
Justin Tabb is founder and CEO of the Substratum team. The team looks pretty awesome and experienced. Justin Tabb was a Software Developer and worked with many well-known companies like Apple, Disney, Eastman-Kodak, Hewlett-Packard, the National Basketball Association.
Substratum from Investment perspective
Easy to use
A simple click-setup interface allows the user to setup Substratum network without any hesitation and likely to use by people, unlike VPN where you will have to install some software. Simpler the technology, the more adoption it gets. Substratum network can be run on any browser like chrome, Mozilla, safari etc. As you can see from the below graph the popularity has been increasing over time especially in China which is a good indicator to invest in.
2. Demand for the technology
With the current situation where everyone is boycotting censorship and supporting net neutrality, it demands the change. And the change has come in the form of the decentralized web on blockchain where Substratum is playing a major role.
3. Charts perspective
As we can see the market cap has been increased gradually over few months. It looks like healthy and sustainable growth with the potential to reach $1 Billion market cap(in my opinion).
In cryptocurrency getting update about the development is a very important aspect in terms of marketing. Just follow their twitter handler and you can get the almost daily update on the product and future roadmap. They have been very open and transparent regarding this which will increase the investor’s trust towards the project.
Substratum: In short
- SUB is a utility token with the Market cap of $70,691,561 (at the time of writing).
- Substratum network is an open-source network which allows anyone to allocate their computing resources to provide unrestricted content worldwide.
- The team is from the USA and listed on major exchanges like Binance, Kucoin, EtherDelta, HitBTC etc.
- The team has already burnt token phase 1 & 2 as 120 million tokens out of circulation forever. Token burn 3 is yet to come.