The bold push for blockchain technology and cryptography by Satoshi Nakamoto in 2008 when he invented the cryptocurrency; Bitcoin, has brought on a wave of solutions to problems in different fields from fashion to finance and luxury shopping. It’s a whole new world for anyone looking to leverage the inherent security of blockchain technology and many around the world are grabbing this opportunity and making the most of it.
Blockchain technology is an inherently secure tool based on continuously growing information recorded in blocks, linked and secured with cryptography. Each new block is designed to record data from the previous with an added timestamp and transaction information. It is then recorded in a publicly available ledger and subject to verification and validation by a peer-to-peer network. This open and transparent method makes it impossible to modify or alter the information contained in each block and makes blockchain technology a secure way to operate or transact in any way it can be replicated.
One of such vital uses of blockchain technology is IPSX, a decentralized approach to exchange and share Internet Protocols (IPs).
What IPSX provides
IPSX is using blockchain technology to create a truly unique, global and decentralized IP Sharing Marketplace.
This tries to help developers and entrepreneurs by providing a secure, transparent development environment for new applications using this technology alongside flexible tools such as SDKs and APIs.
The IPSX platform, which will be built on is targeting new applications and services that need IPs to be built such as VPN providers, data mining software, web crawling bots, and micro tasks.
As IP addresses have become a valuable resource, the IP Exchange simply uses blockchain to leverage this and make it available where needed. Its features include:
- Lowering IP prices and increasing accessibility and availability
- Connecting actors in a peer-to-peer network, allowing IPs to be requested, rented and used to complete different tasks.
- Direct payments between requesters and providers
How Does IPSX work?
IPSX is a token created on the Ethereum platform which is easy to manage using the existing protocols accessible through the ETH wallet.
It is based on the Ethereum technology and is a utility token issued using the ERC 20 compliant protocol. This will be the accepted unit of exchange within the IP Exchange platform.
Investing in IP Exchange
The private investment launched in December 2017 but the public sale and IPSX token will be during the first quarter of 2018. This is the time to invest as any tokens not distributed during the funding period will be distributed proportionally amongst the existing contributors according to the amounts they invested.
There will be no creation, minting or mining of any more tokens after the funding period. However, tokens will be transferable once this period is over.
27.5% of the tokens are set aside as incentives for strategic partners and early adopters with 20% for the team and its strategic partners.
Important Details of The IPSX Utility Token
Total amount: 1,800,000,000
Funding Participants: 900,000,000
Incentives for early adopters and strategic partners: 495,000,000
Bounty Campaign: 45,000,000
Team and strategic partners: 360,000,000
More information is accessible at ip.sx.