Insights Network ICO Review: The First Blockchain Based Data Exchange

In this stage of the Internet, your data is automatically sent off to companies for pay. However, you don’t have ownership of the data, meaning that you don’t obtain profits for what you produce. Insights Network is an ICO project that was made to solve that issue.

With Insights Network, you’ll find it easy to hold your own data. Let this review educate you on how it works and its future plans.

What Does Insights Network Do?

Insights Network uses a smart contracts, their own technology and blockchain technology to help their clients take full ownership of their own data. Since its private, it blocks the access of other companies attempting to use that data, manage, and secure their own data.

This means that users will be able to gain profits on their data by selling it on Insight’s market. It uses blockchain to verify the accuracy and legitimacy of this data.

Insight’s Network is powered by INSTAR token. They can be used to buy advanced datasets and give you a reward for selling your private data to a company. With the Insights wallet, you can control your private data through the use of private keys.

In addition, it has created a symbiotic network that’s used to protect both data providers and data requesters. Due to the smart contracts, both requesters and providers will remain anonymous which is great for both sides.

Aspects

  • Built by EOS: EOS grants the ability to create commercial level DApps (decentralized apps) and have thousands of transactions a second with Asynchronous communication, Parallel execution, and separates execution from authentication.
  • Multiparty Computation: Insights is partnered with Partisa, Insights is the first in helping create the first Secure Multiparty Computation to help validate data in the blockchain platform. Data companies and corporations that are involved will gain token rewards for giving computational resources that are accurate and valid within the marketplace.
  • Micropayments: Insight has an almost instant transaction speeds with close to zero fees for both senders and receivers. This helps with enabling a secure micropayment transactions that’s not possible with Ethereum and Bitcoin.

insights network

Token Sale Information

Disclaimer: We don’t give investment advice, just educational information. Research any ICOs and speak to your advisor before partaking in any investment.

Positives
  • Assisted by EOS Team: Insights Network is one of the first ICOs to work with EOS. Due to its partnership with EOS, we can expect them both to develop a strong interpersonal relationship.
  • Roadmap Releases: Insights Network has a roadmap that is released on each quarter of the year. If its able to fufill its promises, then the price value of the token will increase.
  • Low Cap: $16,000,000 is surprisingly low for a marketcap. Since its the first ICO on EOS, it would help attract new users to the platform.

Negatives
  • No MVP: There is no MVP available, but its expected to appear on Q2 2018.
  • Allocation of Funds: The funds distributions has been loosely explained. It would be better if they explained what they were sending their funds to each sector (development, marketing, etc).

Insights Network
3.9

Summary

Data exchanging is an interesting industry where both sides can benefit from. With Insights Network, they work to make this idea possible. Thus, its a nice ICO that should be watched over as it might be great for the long term.

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Adam Cole has been a crypto enthusiast for years. First getting involved in Bitcoin mining in late 2010, he has now diversified his portfolio and dug deeper into the alternative coins of the space. As new and exciting ideas arise in cryptocurrency, Jeremy is always looking for the next big thing and a coin which not only appreciates in value but also has a steady increase in use and demand. Jeremy has seen the rise of coins such as Ethereum and by studying the technical and fundamental side of ETH, he has learnt how to find similar coins that are likely to have a bright future.

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