What is Streamr (DATA)? How To Buy DATA Token In India?

What is Streamr (DATA)?

Streamr is an off-chain peer-to-peer (P2P) network that enables real-time publishing and monetization of data. Unlike centralized messaging systems where data exchange is dependent on the central server, Steam’s decentralized design solves the problem by acting as a middleware in message transportation. It enables multiple parties on the network to exchange information without the need to couple or rely on a central server to broker data.

The P2P network is operated by its user community and utilizes cryptography to eliminate the need for trust, making it a permissionless and neutral network. DATA is a functional utility and native governance token of the Streamr network. DATA is used to incentivize network users, staking, reward stakeholders, and marketplace payments. The token utilizes smart contracts called Bounties to maintain balances and ensure security and trustless payment handling.

Who are the Founders of Streamr?

Streamr network was founded by Henri Pihkala and Nikke Nylund together. It is an open-source software project with 30 key contributors from around the globe.

Henri Pihkala, Stream’s founder and COO, has 10+ years of experience building scalable infrastructure and real-time data tools. Before Streamr, he served as CTO of two algo trading companies and CEO of a cloud-based data infrastructure-focused startup. He 

Nikke Nylund, Streams Founder and director of business development has contributed to building and growing Successful companies like Quartal, Quartal Flife, Quartal Financial Solutions, and Quartal Content Management. Many of these companies have been acquired or bought by others.

How does Streamr work?

The data streams enter the Streamr network through a node called Publisher. Data streams can originate from any adjacent application like your app, sensors in a smart city, commercial stream data feeds, etc. The Publisher node delivers data to the Subscriber nodes and connected nodes. Subscriber nodes are parties interested in accessing and consuming data for their desired motivation. These nodes also relay information to other connected nodes.

Publishers and Subscribers are nodes of the P2P network; they play roles in connecting data streams and contribute to the network. 

Other roles in the network are as follows:

• Sponsor: Sponsors pay DATA tokens into Bounty to secure the operation of the stream.
• Broker: Broker nodes are miners who select from available Bounties on the public blockchain and start mining by staking DATA on them. Broker nodes earn DATA for their contribution periodically through the Bounty contract.
• Delegators: Delegators deposit their DATA token to Broker’s stake pool smart contract to earn a share of the Broker’s mining rewards.

What makes DATA Unique-Use Cases?

• Streamr network has several use cases, which include Data monetization, DevOps, Gaming, IoT messaging, Network middleware, and Blockchain networking.
• The network allows users to buy and sell data access to ethically sourced data streams.
• Anyone can run a broker node on their PC or Mac to secure the network and earn a yield on staked DATA.

Streamr (DATA) Price Analysis

Source: TradingView

• DATA price has been continuously losing market share for the last couple of weeks, amid the weakness in the overall crypto market.
• It has broken down below the major support level of $0.032, which has now been flipped into a support.
• However, on the upside, we still have the golden crossover of the 50 and 200-day exponential moving averages pulling their weight to support DATA price as of writing this article.
• As and when the broader market recovers, we could see some pullback rally in this token and if it manages to recover above the $0.032 level – we could see a continuation rally soon!

How to Buy DATA tokens in India?

To buy DATA Token in India, just follow the below-mentioned steps:

• Download the CoinDCX App on your Smartphone
• Enter the details required for registration.
• Complete KYC
• After your profile is verified, fund your wallet and buy a DATA