ESSTENIA The Future of Data Protection

Against the backdrop of the activation of the creation of new solutions, concepts, applications and platforms, we began to notice more often the appearance of programs such as frameworks. They exist in order to facilitate and accelerate the development of any platform, providing a simplified interface and the tools necessary for this.

The very word "framework" is translated from English as a framework, frame, foundation. This means that similar programs are at the heart of new solutions and that it is with their help that they are implemented. Another specific framework will be Essentia, a platform that is currently under development and will be fully launched next year.

We are going to talk about what kind of project it is, what it is, and which solutions will simplify and speed up the Essentia framework. Something can be said with certainty right now - it will help to bypass all existing solutions in the field of confidentiality, data protection and identification.

ESS TOKEN OVERVIEW

ESS Tokens are ERC20-based Ethereum Tokens. Each and every ESS Token is equal to each other and has exactly the same qualities, properties, and characteristics. After the ICO period ends, no additional ESS Tokens willbe created.

ESS Tokens, managed mainly by the ESS-Fuel module, work like the fuel of the Essentia Framework by accomplishing several functions. The Token layer and its functions will be gradually introduced and implemented throughout the development of the entire Essentia Platform.

The ESS Token is devoted to the following main tasks (these will be enabled step by step, and made operational, as the underlying infrastructure is ready for them):

• As an antispam measure which prevents the abuse of the resources, or services, of the Essentia Framework (or anything connected to it). It also protects Essentia from several kinds of attacks that can be perpetrated against the infrastructure, the users or the connected resources and parties.  
• It works as the fuel that keeps the Essentia Platform/Framework alive and provides the ability to access, maintain or use some specific component, feature or service.
• It is used to pay for extra internal resources (e.g. for more storage than the minimum included for free or for more configuration slots than the free default).
• It is used to pay for renting additional decentralized third-party resources connected to Essentia (e.g. computational power or running instances of the components).
• It is used to pay for extra goods/services/content/fees on the in house ESS-Dapp-Centre and also on the integrated, and trusted, third-party marketplaces and Dapp-Stores. It can also be used for the integrated DEX, the Essentia Decentralized Exchange.
• When someone offers dedicated or additional resources to the network, they can be compensated with ESS Tokens by the users. When the project will reach a more mature stage, the contribution to the network through offering additional resources will be incentivized. An airdrop of ESS-X Tokens will be done towards each existing ESS Token, equally. The ESS-X Tokens will be minable and will represent the reward for contributing to the network by running a node, offering instances or virtualized resources, providing calculation power, securing the network, running specific decentralized services, or tools, and other activities to yet be defined. This will work as the incentivization system for resources specifically dedicated and connected to the Framework.

Use case for end users

Users can use the eLogin to integrate their logins to multiple websites and dApps without the use of individual insecure passwords. All of your dApps and website logins are available at a single place without worrying about going through multiple logins and keeping multiple access passes.

Essentia’s KYC compliance services seamlessly accepts new clients and allows them to securely store their data without the use of any centralized storage mechanism.

Use case for companies

Companies that require GDPR (General Data Protection Regulation) compliance solutions can use Essentia for the solution. Users can essentially request for the removal of data; since Essentia is working on block chain, any action taken can and will be publically verifiable because of the onchain transaction.

Insurance companies, financial services and banks can trigger asset seizures in case the user cannot meet the requirements; this is important since it removes the requirement of intermediaries and the process can be quick and relatively cleaner.

For more information about Essentia, please visit the following:

Website : https://essentia.one/

Twitter : https://twitter.com/Essentia_one

Telegram : https://t.me/essentia_one

Facebook : https://www.facebook.com/essentiaone/