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SUB – Decentralised Internet (link)L&C December report focuses on Substratum, the winner of our last
Twitter pool.
Substratum obtains an A- rating with an overall score of 7.1/10. This good result is driven by the team’s vision to create a free and open Internet, along with the high potential of the market. This report is likely to be amended upon product release.
- Symbol: SUB
- Rating Category: A-
- Overall Score: 7.1/10
- Project Score: 7.3/10
- Token Economics Score: 6.7/10
- Equilibrium price: $4.85
EditorialDecember 14th 2017, a historical date for the Internet. The Federal Communications Commission (F.C.C.) voted for the abolition of the net neutrality in the US. This decision provoked an outcry both nationally and internationally, as seen as a threat to the Internet freedom. With the repeal of net neutrality, users in the US will not be treated equally when browsing the web.
The net neutrality rules are ones of the founding principles of the Internet. They ensure that Internet service providers treat all web content equally and prohibit them from interfering with web traffic. These providers cannot discriminate or charge differently by user, content or website. Famous examples of web neutrality principles being violated are Comcast secretly throttling access to peer-to-peer applications, or more recently Verizon Wireless accused of slowing content from Netflix and YouTube. These are cases of discrimination by content. Another type of discrimination is caused by restricting Internet use by IP address. The net neutrality principles are barriers against these discriminations, preventing companies from assigning service speed based on their users’ geographic location.
On the 24th of December, and despite overwhelming opposition from Congress and technical experts, the FCC has voted to repeal the net neutrality. This vote was broadcasted online and the neutrality abolition was voted 3 against 2. Chairman Ajit Pai, Republican Commissioners Brendan Carr and Michael O’Rielly voted in favour of the order, and Democratic Commissioners Mignon Clyburn and Jessica Rosenworcel voted against.
This vote signed, therefore, the end of equal treatment of Internet services. Service providers will now be able to assign connection speeds based on their corporate strategy or based on the preferences of their customers. Users who are willing to pay more will be able to benefit from fastest loading time for instance. The access to certain websites would also be restricted. The net is already not neutral in several countries, and users regularly make use of third-party services to bypass these limitations. Not to list them all, the most famous being browsing through a VPN or using TOR network.
The power given to the service providers highlights a major flaw of the current Internet network. Despite being compared to a giant world wide web, the Internet remains highly centralised, censored and controlled by few entities. Not only causing access restriction, this centralisation also creates points of failure. User’s personal data is stored by these service providers and becomes easy hacking targets. To address these issues, the Internet is heading towards a more decentralised architecture. The blockchain technology can be an answer, as it enables building a fully decentralised and trustworthy network to share data and value between people. Substratum is one of these blockchain startup wanting to revolutionise the Internet. The decentralised web they dream of will be free and open to anyone in the world, community-oriented and without interference from governmental agencies. Our December review proposes an analysis of the Substratum project and the Substrate token (SUB).
PresentationThe Substratum Network is a peer-to-peer internet. Based on the blockchain technology, this web is fully decentralised and cannot be controlled by corporations. It is entirely managed, maintained and ran by the community. Indeed, users belonging to the network can rent out their empty computing resources to host websites. The platform is made of two components: […]
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