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Acentrik Blockchain Review (9/10⭐)



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Acentrik blockchain is a network that facilitates the buying and selling of data. It is meant to be used by enterprises. The service is operational on the Polygon blockchain, and it was developed and released by Mercedes Benz. This decentralized data marketplace uses Ocean Protocol technology to enable the sharing of information and commercialization of data across domain names.


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This data marketplace uses the Polygon blockchain, and this is secured with the proof of stake system. Polygon is a scaling solution for Ethereum and has made blockchain technology more adaptable for different purposes. With this blockchain, people are able to quickly transfer data without spending a lot of money. Its quick success can be attributed to the fact that it has a complete white paper. Also, being backed by Mercedes Benz has helped boost the popularity of the network.

 

Briefly about Acentrik Blockchain

This network was developed by Mercedes Benz and is driven by blockchain technology. This ensures that data is stored securely and privately, and it also makes it possible to monetize data assets. With Acentrik, data assets can be replicated across systems and will be accessible to all participants. Still, control of the data will lie with the owner.

Acentrik is a decentralized data marketplace for enterprises, where the future of businesses rely on blockchain technology.CryptoLists.com
 

Acentrik blockchain was launched in 2020 by Ocean Protocol and Mercedes Benz. It essentially works as a fork of Ocean Protocol, a Web 3 platform that allows users to unlock data services for artificial intelligence and business innovation. The pilot project has proven to be highly successful, and this has led to further collaboration between Mercedes Benz and Ocean Protocol. The white paper clearly outlines how the network works, and this has made it easier for people to use the blockchain.

 

Utility of Acentrik Blockchain?

This platform is used to securely buy and sell data. An enterprise can monetize its data by selling the data assets, and these are stored as USDT tokens in their connected wallets. Whenever you publish a data set on this marketplace, a custom ERC-20 token will be deployed and minted.

Acentrik Blockchain

Acentrik Blockchain Consensus Method: Proof of Stake
Release Date: November 16, 2021
Resources & Social media
 

Advantages at Acentrik Blockchain

+ Transfer fees are very low as it primarily uses the Polygon blockchain.
+ Acentrik blockchain has a comprehensive white paper.
+ Acentrik works on Polygon, which is carbon neutral.
+ Transactions are quite fast on this network.
 

Disadvantages

- Its functional tokens can be volatile.
- The Acentrik network is quite complex.
- Proof of stake may not be the most secure system.
- Users will have a hard time modifying data on the network.
 

Costs

▪ Rated at 9/10

The fees for transactions on this network vary depending on the network you use, and these are paid out in the native cryptocurrency of the blockchain. Since most transactions are carried out on the Polygon network, you will have to pay gas fees of between $0.0005 to $0.2. On this network, the transaction costs must be paid out in Matic tokens.

 

Reputation and Buzz

▪ Reputation rated at 9/10
▪ Buzz rated at 9/10

Acentrik blockchain is a popular blockchain that is backed by Mercedes Benz. Given the success of the auto manufacturer, more people have started turning to this network to buy and sell data. It is worth noting that Acentrik is extremely secure and will privately store your data. The main issue users have pointed out is that the network doesn’t have a system for modifying data once it is placed in the blockchain. While this can be great for data integrity, it can create inconveniences when the information needs to be updated or corrected.

 

FAQ

Who created Acentrik Blockchain?

This blockchain was created by Mercedes Benz and Polygon. The German luxury car manufacturer was founded in the 1920s and is among the most successful car brands.

Is Acentrik Blockchain proof of stake?

Transactions on this network are secured with data tokens and smart contracts, and on Polygon, security is upheld using the proof of stake consensus.

Why did Acentrik partner with Mercedes?

Mercedes Benz is the creator of this data marketplace, and it has partnered with Ocean Protocol. In fact, the Acentrik blockchain is a fork of Ocean Protocol.

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Screenshots from Acentrik Blockchain

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Acentrik Blockchain Newsflash
    Mercedes Benz launch on Acentrik blockchainMercedes Benz launch on Acentrik blockchain
    Thursday, 4 Aug 2022 11:47 am
    Mercedes Benz Group has launched its Acentrik blockchain platform through Daimler South East Asia. It is a decentralised data market for enterprises. Businesses can gain financial benefits from it. If businesses are concerned about how to share data in privacy, this marketplace could be ideal for them. Acentrik is not domain specific and applies to clinical trial data, insurance information, and other fields. It targets enterprise users such as Know Your Business and access controls. Acentrik does not store data in the blockchain. It stores it in an NFT that represents each data set with a metadata hash. The public blockchain, Polygon, and Ethereum Rinkeby test network...
    Read the full newsflash

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