TosDis’ IDO Platform introduces the first decentralized cloud computing project specifically designed for the Cardano Ecosystem
We’re thrilled to announce that Iagon, having passed our due diligence requirements, will be launching their IDO through TosLabs shortly. More details concerning the IDO will follow in the upcoming weeks, but we would like to take the time to properly introduce the project to our community.
Iagon, with the backing of some of the most well-reputed VC firms, aims to revolutionize the cloud by building a massive processing and storage platform where anyone can profit from shared resources. The whole value proposition circles back to the potential of blockchain technology by letting smart device owners join the storage and processing power grids to create a completely decentralized data cloud and supercomputer.
Cloud Computing meets Blockchain
Cloud computing has gained massive adoption over the past few years, and the current pandemic only boosted the ongoing adoption. However, due to the centralization of the market in the hands of a few conglomerates like Amazon, Google, Microsoft, IBM and Alibaba, the market became more and more fragile. Data breaches are common news and none of these parties are actually addressing the real issue. After all, they all profit from some kind of monopolization (of costs). In addition to the lack of truly trusted storage facilities and due to the rapid digitalization of all markets, adequate hardware is getting scarce, resulting in rising material costs as well as rising electricity costs.
Iagon noticed these flaws and the potential growth of the industry. It aims to tackle these problems by offering processing power and storage capacities at a fraction of the costs. Iagon will do this by building a two-folded product, that combines the following:
Creating the decentralized supercomputer — By leveraging unused processing power in data centers, computers and smart devices, Iagon connects a decentralized network of nodes in order to form a real supercomputer, without having to spend extreme amounts of money to get the right equipment. By leveraging these nodes, the network will be faster than most of the processing facilities known today, at only a fraction of the costs.
Creating a secure and decentralized cloud — Iagon aims to leverage unused capacity in data centers, computers and smart devices in order to create a massive data network that provides an unmatched level of security. This protocol will be based on Iagon’s own encryption technology (leveraging SHA256 encryption and blockchain technology) in combination with its “Secure Lake”-technology. These technologies combined ensures that even when information systems are breached, data and files cannot be accessed, deleted or otherwise modified, not even by Iagon itself.
The token based economy simply revolves around smart device owners who join the storage and processing power grids. In return for sharing the resources of their smart devices, they will be granted IAGON tokens, while any party who wishes to utilize said processing and storage capacities will have to purchase IAGON tokens in order to distribute them to the parties providing their services to the grid.
Resource providers will be able to join the Iagon platform free of charge, while Iagon will charge a 10% commission (in IAGON tokens) from every transaction that users carry out to utilize the resource providers’ storage and processing capacities.
Essential Token Information
Total Supply: 1,000,000,000
Type: ERC20 (initially)
Iagon aims to maintain full transparency concerning their protocol and just like other projects they launched in 2018. While their tech was astonishing, the market wasn’t suited to launch the project. Furthermore, Iagon encountered some problems in 2018, especially due to the stigma surrounding the Dragonchain Incubator. However, these problems didn’t demotivate the team to keep working on the protocol, mostly self-funding it (with a small injection from early investors). For those who are interested, Iagon recently published a detailed article concerning their new positioning and its commitment to offer a level playing field to old and new investors.
What’s coming for Iagon?
By relying on (patented) technology that solves most of the shortcomings of their centralized counterparts, Iagon aims to revolutionize the cloud computing industry, while seamlessly meeting even the most stringent regulatory requirements (GDPR, ePR…). By leveraging this technology, Iagon aims to become the new standard for handling sensitive information, while simultaneously offering a solution to actually process all of this information by creating a much-needed decentralized supercomputer.
Iagon’s platform is already up and running, but in order to achieve its goals of becoming the best solution around, Iagon aims to migrate its protocol to the Cardano Network as soon as it is technically feasible. Iagon has chosen to take this route because the value proposition of Cardano complements Iagon’s ideology perfectly. After all, Cardano will be the most decentralized chain on the market, which is directly connected to the value proposition of Iagon, namely countering breaches and protecting everybody’s in- and output at all times. Due to all of this, Iagon will be bridging its tokens on a 1:1 basis to the Cardano Mainnet and push the cloud computing industry forward in ways never seen before.