The current state of the internet is dominated by Cloud technology and social media platforms like Google and Facebook where users don’t own their data. In the absence of interoperability, people are losing “citizenship” of their private information when switching providers. The current state of the internet is broken because online development has morphed into an industry focused on huge profits. While companies gather and store insane amounts of data, users are losing ownership in favor of a centralized system.
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The Internet of People is a new project that aims to break barriers and disrupt the internet with a decentralized infrastructure for applications and apps independent from centralized servers. Based on nodes, IoP is a crypto movement that connects everyone in a node-based ecosystem, streamlining truly decentralized DApp development. Powered by blockchain, IoP uses the positive characteristics of centralized communities, cooperatives and corporate entities to become truly independent and transparent.
“Disrupting decentralization” with the Mercury protocol
Mass adoption of cryptocurrency has tampered with the reputation of blockchain technology. Many companies are launching ICOs with the sole purpose of making huge profits. Fake business models, Ponzi schemes and poorly drafted white papers are making people lose faith in its potential. The Internet of People seeks to do more than merely become an alternative to centralized businesses like AirBnb, Moneygram, or Uber. The end goal is to connect people on a censorship-free platform where users are in control of their data and developers can build fully decentralized apps.
At the heart of IoP lies Mercury, a protocol that bypasses middlemen and restores data back into the hands of the people. Still in development, it can be used for creating dApps, which is as simple as using apps like App Store of Google Play. As an open-source system by design, one of the main benefits of IoP is that a user’s identity is a secure, cryptographic key that guarantees complete privacy.
The fuel powering IoP, the IOP coin
At the heart of the Internet of People lies the IOP coin, a derivative of Bitcoin Core (version 0.15) which currently uses a unique proof-of-work consensus mechanism. IOP ensures block rewards are distributed equally among the IoP community, reducing high-power mining consumption and paying for fair services within a system of dApps and nodes.
As opposed to conventional models for scarce resources like Bitcoin or gold, where powerful individuals are in full control of ownership and distribution, IOP is a rare resources only available within its shared ecosystem. The Internet of People is a digital cooperative owned by the community, where the end goal is to reward the members who contribute to framing and improving the project as a whole.
CoinBene joins the IoP mission by listing IOP on its exchange
Global exchange CoinBene joins the IoP mission by enabling IOP coin trading on its platform. Founded in 2017, CoinBene has over 1.5 million customers each month, handling an average of $4 billion transactions. With customers in over 150 countries, the exchange’s performance is on the rise due to the company’s motto of providing services that resonate with the needs of its customers, clients and stakeholders. By partnering with IoP, CoinBene hopes to strengthen its reputation in the crypto space and set itself apart from competitors through outstanding services.