The Minion Coin and its leverage on data using blockchain technology
Access to real time information can be very expensive in most cases. People pay so much for access to data to be used in one form or the other.
Business competitors will pay handsomely if they can get access to information that will increase their productivity and surpass their competitors. We have heard several cases where intelligence have promised to give you a huge amount of money to anyone with valid information on how a culprit can be found. No wonder they say Information is expensive.
Data means information. Everyone collects interprets and uses the information. Information may be through conversations, newspapers, televisions and radios. Data collection refers to gathering the information required for the study. The source may be primary or secondary and are expressed in a numeric form that helps in a calculation and simplifying the problems.
The amount of data being generated and stored every day is exponential. Improvement is needed in quality, completeness, and availability of data at every level of life, particularly if the purpose of the information strategy is to be successfully implemented.
Although most of the data items in nations are recorded locally, there could be variations in the way data are defined, recorded, and analysed and lack of a proper utilisation and poor management of information at hand can restrict access, availability, and use. This can also lead to unnecessary spending by companies that can't leverage their data, and leading customers to providing their own behavioral patterns and psychological data to data collectors without compensation.
The Minion Coin and Blockchain Technology
These are part of the problems the team at the Minion Coin has focused on to allow a seamless handling and compensation in data management. This is through a series of processes that will lead to a most efficient and intuitive way to collect data in a very reasonable way, and to seek compensation distribution based on its contribution to blockchain technology
A blockchain, originally block chain, is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data
Many of the blockchain technologies that you've heard about, such as presenting the third-generation blockchain and presenting new framework for the blockchain, have not been able to come up with clear answers on how to use big data based on the blockchains.
The Minion Coin is piloting an alternative minion system that will bring about tremendous changes in the blockchain network handling of data that we've never experienced before. The Minion System is planning to build from simple mini-games to business simulations to extract behavioural pattern data from economics and marketing to research statistics and psychology. All games will build a structured database based on the Ethereum Smart Content.
The provider who provides anonymous psychological and statistical data through the game will receive a differential payment based on their contribution, and the payment method will be announced through the website later to minimize noise generated from data collection due to abnormal approaches from specific providers.
The database is also managed by the Minion System as a blockaded distributed source to provide transparency into the data. And the Dimension System is accessible to everyone, but data redundancy will be available through the tools provided by the company.
Indeed, the Minion Coin is the future.
I think that offering offline wallet is good. The cryptocurrency is threatened by hackers.
However, it is necessary to be connected to the network during settlement and PoS.
How is the security of this part considered?
