Essentia: How Are They Going To Decentralize You?

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Despite distributed ledger and blockchain technologies are rapidly developing, trying to add some decentralization to the virtual world, absolute centralization still prevails, and, actually, it is not very good for an ordinary user. Whether you want it or not, but your personal data does not belong to you, but to the third parties, presented by governments, third parties, and corporations, which do everything to benefit from this information. Such centralization is plagued with very serious (towards a common user, surely) problems such as:

Compromised users’ privacy and data;
An absence of freedom on the Internet;
Total spying on users’ behavior in the electronic environment including buying habits, locations, social networks relations, financial details, which all are gathered by websites and then sold to third parties;
An ever-increasing risk of information leakage and data breaches coupled with a lack of control over personal digital life and belongings.

Encouraging everyone to decentralize themselves, Essentia will solve all these pain points of the legacy Internet by creating a decentralized modular framework for the data management and control, which will empower every user to regain single ownership over their digital identity and freedom.

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What is Essentia?

Essentia is a set of ready-to-use customizable solutions for the data ownership and interaction on the basis of several bleeding-edge protocols. This framework for the decentralized data management offers a new way of interoperating with the Internet. Essentia brings all decentralized applications (dapps) under one roof, allowing users to have everything at their fingertips (by “everything”, Essentia developers mean the maximum variety of use cases; we will speak about them later down).

The platform itself can run on most machines, be installed on major operating systems, browsers, and devices, and work with any blockchain – for instance, Essentia will simultaneously support Bitcoin, Ethereum, and hundreds of other cryptocurrencies. It is also supposed that Essentia will be integrated with all popular decentralized mobile applications.

Essentially, Essentia (sorry for tautology) sets a standard of how we exercise access to the decentralized Internet, take control over personal data back, and use Web 3.0. This all will be backed by multi-level privacy settings and reliable private data protection, i.e. the risk of massive data leak is excluded.

Essentia will be comprised of two main components:

Essences. They will interlink different services where data and information about individuals, companies, groups or organizations are generally stored.
Synergies. They will interconnect operations including diverse platforms, resources, and modules.

On the top of that, Essentia plans to launch own decentralized operating system (ESS-OS) and own product line:

ESS-Keyware is a hardware USB device that will allow users to sign in to the system and gain access to their Essence on any device connected to the Internet.
ESS-Eggs are open hardware computers which will run on ESS-OS. Such machines will be adjusted to work with blockchains but they also will be able to perform any operations which personal and enterprise computers usually do.
ESS-Sense is a hardware module that is used to connect any real-world peripheries to the blockchain and decentralized resources.

Essentia Use Cases

The question then becomes: what one can do with such a powerful platform? The answer is ANYTHING what you usually do with your PC or smartphone. In their whitepaper, a list of Essentia potential use cases occupies 4 pages in small print. There are just a very few of them for illustrative purposes:

Essentia will be a hub of interlinked dapps, decentralized services, e-wallets, and resources (like exchanges, payment services, websites, etc), which all will be accessible through one platform, using a single SEED. For example, a user can book a flight through the platform without relieving their personal information to a website/operator.
Users will be able to safely browse the Internet and perform different actions (purchases, funds management, and more) via decentralized or custom VPN services provided by Essentia.
Insurance companies, banks, and financial institutions can interact with each other to evaluate the reputation and creditability of their applicants as well as exchange assets & information without relying on the middlemen thankfully to Essentia smart-contracts.

Since there are dozens of use cases, we cannot cover them all, but you can try Essentia by yourself right now because there is their test version available!

Essentia Token Sale Quick Facts

The platform will be powered by the ESS Utility Token – the ERC20-standard Ethereum Token, which will perform numerous functions including a reward for decentralized companies for joining the Essentia infrastructure, a compensation for adding more services to the network, an incentive for active participation, access to exclusive Essentia resources, and so forth.

TOKEN SALE Starts: 7 JUN

Token Code: ESS

Token Type: ERC-20

Total Supply: 1.7B ESS Tokens

Hard cap: will be announced ahead of 7th June

Tokens for Sale: 35%

Accepted Currency: ETH

Company Foundation: Essentia One SA rue du Rhône 114 1204 Genève Switzerland

Bottom Line

Essentia tries to bring us back what originally was ours: freedom and privacy on the Internet. With centralization making the planet go round, an individual’s confidentiality and data safety have never been so vulnerable. Businesses and governments make the most of personal information, keeping track of users’ behavior in the WWW and then selling obtained private data to third-parties. Essentia will remedy this blatant injustice by taking the control over personal data back to the users’ hands. Essentia offers a decentralized, modular, blockchain-driven interoperability and data management platform to make every user, be it individual or corporate, become decentralized in the global web. Such a project will ensure the maximum safety of personal data and prevent its abuse (leakage, loss, selling). Isn’t it what we all are longing for?

Essentia Additional Links