In a world where virtual interactions are becoming cornerstones of personal and business relationships, a project that focuses on improving them and making them safer than the current centralized model is expected to success. This is what opened the way for Cryptaur to become the best performing token of last week, so we will be quickly covering it in today’s special feature.
A Diamond in the Rough
The current state of interactions through the internet is no mystery to anyone: with the top 3 messaging apps surpassing one billion monthly active users (Whatsapp with 1.6 billion, Facebook’s Messenger with 1.3 billion and WeChat with 1.12 billion) and social networks even destroying that mark, with Facebook and Youtube reaching 2 billion or more, everyone is using at least one of these platforms. But that doesn’t mean that the general public necessarily knows how exactly their data is handled within the platform.
The clearest example of this phenomenon is the controversy Facebook triggered last year, in which they were charged by mishandling their users data and selling it to third parties without disclosing it openly to the userbase. This issue escalated to the point of Mark Zuckerberg, Facebook’s founder, having to attend to a hearing in front of the U.S. Senate to defend the actions of his platform.
This was well spread through the internet, which brought people to question the safety of the data they share on their social media. This improved the reputation of blockchain as a decentralized mechanism for data storage and transfer, but the general idea of the technology is tightly related to cryptocurrency as a possible replacement for cash. However, projects like Cryptaur have taken blockchain and improved on certain aspects of it to properly implement it into specific aspects of today’s “internet life”, specifically: interactions.
Reaching the Top
The main goal of Cryptaur is to create a solid, quickly navigable peer-to-peer network that makes it possible to completely eliminate middlemen in every interaction between users. Once two parties engage in a transaction, the network automatically connects them through the fastest routes across its nodes, achieving fast processing times and leaving a distributed registry of the process, which is verifiable by every member of the network.
This makes it possible for a solid, reliable payment network to be constructed and improved as more users enter the environment, and the correct behavior of each node is regulated by a “social capital management system”, where each user has a vote into which users are playing authentically useful roles in the building and maintenance of the chain, while a rewards system motivates each user to do as best as they can, since payments within the network are performed with the Cryptaur utility token.
Their model, despite sounding simple, has proven effective by gaining them partnerships with platforms like TheXGame, 8Games, Etherdragons Arena and Mendel Chess, gaming platforms that take advantage of Cryptaur’s peer-to-peer solid network to maintain a clean, verifiable registry of each play executed and the result of each matchup. This makes the best out of Cryptaur’s configuration and works for the team as a stress test for future endeavors into payments and other direct monetary transactions.