ARCS - Exclusive Blockchain For Data Banking Infrastructure
Hello everyone, on this occasion I will review a very interesting project, namely; ARCS and for more details, let's go to the following review:
About ARCS
ARCS chain is a proprietary blockchain for data banking infrastructure, developed by IFA. ARCS is basiclly a token which relies on the Ethereum platform. However, the operating situation of the Ethereum platform is about to reach its limitation, which has provoked alarm about its future prospects. Of course, there is still a great chance of improving the situation. Nevertheless, we are considering reissuing ARCS by using a potential and highly scaled platform compared to the current platform. All in all, not only issuing settlement tokens which have settlement ability, but also we will issue governance token, which commit to the management of the Alre world, and security tokens that fits regionality. We will do our best to develop ARCS because it will contribute to the new world.
About AIre
AIre is an ecosystem centered around data banks and their users.It provides functionality for data banks so that they can operate effectively and transact with businesses and individuals.This section outlines AIre, its functionality, and its business model. It also includes a description of measures to prevent data tampering through using blockchain technology and interconnected data bank hubs.
Overview AIre provides functionality for management and storage of various data structures in “data banks”, which are essentially a business to monetize data. Network participants can access and build on AIre via custom-built applications or directly through proprietary APIs. * Functionality AIre comprises of three main functionalities: information input, information storage, and information utilization.
The three main functionalities are illustrated below:
Token economy
The AIre token economy is centered around the ARCS token. Below is a description of the token, its economy, and its functionality.
ARCS token
ARCS is the native token of AIre. It can be held in wallets that support the ERC-20 token standard and be traded on exchanges which list ARCS. It will fluctuate according to market conditions. ARCS is mainly used for the following purposes:
Incentives for users
Many internet users feel uncomfortable when providing personal data to services due to the recent public knowledge of large corporations misusing personal data. AIre incentivizes users for the information they provide, which is expected to lower resistance to storing personal data.
Rights to use the AIre service
The token economy is designed to expand the ecosystem organically since participants will receive unique benefits from using the ARCS token as opposed to fiat currencies. The core value of AIre is the data which the data banks hold and ARCS is the global network currency which data buyers can use to buy data with.
Token flow
Below is a demonstration of the ARCS token flow:
- Users input data into the AIre data bank and receive ARCS as a reward;
- Companies who wish to acquire data from the data bank will first buy ARCS from an exchange;
- Companies can then buy data from a data bank with ARCS. At the same time, users will be rewarded for their data and IFA will collect a commission fee for delivering the service;
- Companies can utilize the data for their services and offer it to AIre users in return for ARCS
Token specification
To get more relevant information from the ARCS project, please follow a few links below:
WEBSITE: https://www.arcs-chain.com/
WHITEPAPER: https://www.arcs-chain.com/whitepaper_en.pdf?v=20191122b
MEDIUM: https://medium.com/arcs-arx-official
TWITTER: https://twitter.com/ARCS_ARX
TELEGRAM: https://t.me/ARCS_ARX_EN
Author: Sinseykoin