Substratum is a blockchain-based decentralized internet platform that provides secure and private access to websites. The project has received a lot of attention in the cryptocurrency space, with a market cap of over $8 million USD as of December 2018.
The crypto.com coin news is the ultimate guide and review of Substratum (SUB) Coin. This article provides an overview of the project, its goals, team members, partnerships, and more.
Tom Alford is a British actor. contributed to this article. 26th of March, 2018
The following is information about this guide: Our Substratum (SUB) tutorial will teach you all you need to know about the following topics: We’ll describe what it is, what the project accomplishes, how SUB’s future looks, and our thoughts on the project’s future. We always advise caution when investing in cryptocurrencies and recommend you to do your own research.
What Is Substratum (SUB) and What Does It Mean?
The first thing you need know is that the project’s name is Substratum, and the token is SUB. Substratum is working to build a more decentalized internet, with the goal of making it free and fair. The goal is for users to have unfettered access to material and for internet usage to be decentralized. VPNs and TOR will be obsolete thanks to Substatum.
This goal is becoming more important in nations such as the United States, where the Federal Communications Commission decided on December 14th to repeal Net Neutrality regulations. Net Neutrality made it unlawful for US internet providers to slow down or restrict websites, material, or data that consumers desired to access until it was repealed. The judgment on December 14th 2017 presents a serious danger to US citizens’ access to a free internet and their freedom to freely share and access information without government intervention.
The internet has grown more centralized over time. Google and Facebook, for example, have monopolized their respective sectors. As the recent Cambridge Analytica incident showed, centralization may be hazardous. Most Facebook users had no idea how much data firms like Cambridge Analytica might collect. It’s concerning that this information “enabled the corporation to exploit the private social media activity of a large swath of the American voters, creating methods that underlay its work on President (Donald) Trump’s campaign,” thereby jeopardizing democracy’s fundamental foundations.
Extreme censorship has been in place in China for a long time, thanks to the deployment of the Great Firewall. This severely limits the free flow of information, facts, and ideas throughout the internet.
Substratum provides a non-government-controlled alternative to the internet.
What Will Be Done With The SUB Token?
Substratum promotes information freedom by establishing an open network that enables anybody to contribute their computer power to the network. This implies that anybody with a computer may host websites/applications, and hosts are compensated in the form of the cryptocurrency SUB (which they can then convert to fiat currency). The procedure has been simplified to the point that anybody may make SUB while sleeping by hosting content. This reward encourages people to join the Substratum network.
SUB may be used by businesses and individuals to pay hosters to host their websites and apps. It’s also worth noting that Substratum-hosted websites will be available on both the decentralized and centralized internets.
The SUB coin is extremely divisible, allowing microtransactions to be processed, lowering hosting costs. The SUB coin may be thought of as the gasoline that drives the Substratum network.
Because the Substratum network’s material is housed on possibly millions of computers all over the globe, global governments lose authority over it. After all, the only way to shut down the network would be for all of the world’s governments to seize every computer (which seems unlikely).
What Is CryptoPay and How Does It Work?
The Substratum team’s product is CryptoPay. It is an online wallet that enables Substratum users to spend and store currencies such as the US dollar, the euro, the British pound, Bitcoin, and Substratum. Any site or service on the Substratum network will be able to accept and process transactions using any publicly traded currency as well as credit cards thanks to CryptoPay. This implies that when Substratum becomes more popular, it will naturally boost bitcoin acceptance.
The CryptoPay solution will provide basic tools that will make it easy for website or app owners to incorporate it. It will work similarly to how website owners now add PayPal as a payment option to their sites.
CryptoPay will utilize SUB as the conversion currency, and each merchant will be able to select whatever currency they accept. This is another another significant use of the SUB cryptocurrency inside the network.
The Substratum Team is a group of individuals that work together to create a
Investors and consumers want to see a project with a clear goal, but they also want to know that the team can carry it out. It’s worth noting that Substratum handled things a little differently during ICO. Founders did not get any shares during the ICO and will only acquire a stake in the project once the first edition of Substratum is released. This attitude appeals to us since it implies that the founders must produce a product in order to realize any benefit. This should indicate that a high-quality product has been provided.
Furthermore, Substratum boasts perhaps the most experienced staff in the bitcoin space:
- Justin Tabb, CEO and Co-Founder of OverridePro, a web development firm that has provided solutions to companies such as Facebook and Apple.
- Abram Cookson, Chief Information Officer and Co-Founder, has 18 years of experience in software development and leadership positions in Fortune 500 and small organizations.
- B.J. Allmon, Chief Operations Officer and Co-Founder, has over 20 years of product engineering expertise.
- Steve Swing, Chief Technical Officer, has 30 years of expertise in the software business. He continues to devote time to learning and implementing new technology.
- Christian Pope, Chief Marketing Officer, has 25 years of expertise and has previously worked as a VP of marketing, consultant, and Chief Marketing Officer, concentrating on B2B Fortune 1000 and startups.
- Dan Wiebe, Technical Lead: Dan Wiebe has 30 years of experience as a developer and has worked on a variety of technology stacks.
Substratum in the Future
A network like Substratum will surely become more significant in the future. The following is why:
- There seems to be a tendency among governments across the globe to impose internet restrictions on their people or to conduct active online monitoring of their populace. Organizations such as Reporters Without Borders have raised concerns about limitations on press and speech freedom. Who comes to the following conclusion:
- The normal internet is becoming more centralized. For example, Facebook has enough user data to influence the results of ostensibly free and fair democratic elections.
The issue is whether enough people will see the importance of free expression and if they should have unfettered access to websites, information, and data. All evidence points to centralized governments and big businesses gaining more control over the people. We must consider if they are acquiring too much power, and whether we think that:
“Power corrupts, and absolute power corrupts absolutely,” as the saying goes.
1st Baron Acton John Dalberg-Acton
If we are worried about the globalization and concentration of power, it is only natural that we defend ourselves against this danger. Substratum provides an alternative framework for a more free society, and this is the project’s driving force. The Substratum Team and its followers are undoubtedly worried about the concentration of global power and how it might be exploited to limit human liberties. They are taking proactive measures to address the issue. After all, consider this:
“All that is required for evil to prevail is for decent folks to do nothing.”
Edmund Burke is a British politician who was born in
Substratum Issues That Could Arise
Substratum sprang from genuine worries about government censorship and corporate power abuse. Most people would agree, however, that censorship is necessary to prevent the spread of dangerous information such as child pornography, human slave markets, or terrorist propaganda. There are risks with a network that is completely devoid of any kind of supervision.
The project intends to include a self-governance mechanism that will enable unlawful material to be removed from the network while maintaining the network’s openness and independence. Some believe that this censoring is only the start of a familiar process, and that Substratum will ultimately become a system similar to the present one. It’s also unclear if a self-governance structure would result in effective policing of unlawful material. Perhaps there will be enough individuals interested in seeing such material that it will never be deleted from the network.
You should be aware that Substratum will not be a completely unrestricted internet. There will be some censorship in place. However, we must not ignore how technology may be exploited to bring out the worst in people. Remember:
“In and of itself, new technology is neither good nor bad. It all depends on how individuals decide to utilize it.” Wong, David
We’ll be keeping a close eye on the initiative and are eager to learn more about how the Substratum self-governance system will operate.
The SUB ICO
The project’s initial coin offering (ICO) concluded on September 14th, 2017 with a total of $13.8 million raised. Render Payment Systems also made a direct investment of $5 million.
Substratum also provided the following breakdown of how the money collected will be spent:
- 30 percent of the money is spent on product awareness.
- 60 percent of the money is allocated to product development.
- 10% of the money is allocated to network infrastructure.
As previously stated in this post, the founders did not get any shares during the ICO and will only receive a stake in the project once the first edition of Substratum is released. This implies that if the team fails to produce, they will get no profit from the project. This is a great strategy, particularly at a time when several ICOs seem to be nothing more than a cash grab for the creators.
Should I Put Money Into SUB?
You are the only one who can decide whether or not to invest in SUB; after all, it is your money. However, we can share our opinions on the project with you:
Pros
- The team is perhaps the most experienced we’ve seen for any cryptocurrency startup.
- We are worried about growing government internet restrictions and how centralized the present web has become, for example, Facebook. We appreciate that Substratum offers internet users the option of switching to a different system. We completely support everyone’s right to free expression and unrestricted access to data and information (as long as it isn’t unlawful). We believe it’s fantastic that the initiative aims to assist us all in protecting these liberties.
- CryptoPay popularity should result in a broader adoption of cryptocurrencies.
- Website and content hosting at a lower cost. This initiative, we think, has the potential to disrupt the market. By 2022, this is expected to be worth $154 billion.
- Anyone can make money by hosting material and earning a passive income. It’s exciting to see new revenue sources open up for the people in this era of growing automation.
- The project already has a minimal viable product in place, as well as a BETA version.
- Websites hosted by Substratum will be available on both the decentralized and centralized internet. Users will have no way of knowing they are visiting a Substratum-hosted website (aside from the lack of censorship).
Cons:
- It’s still unclear if the self-governance mechanism will operate well and whether unlawful material would be removed from the network.
- The fact that there will be some filtering on the network may irritate libertarians.
- The response of governments and businesses to the Substratum network is unclear.
- The initiative has the ability to allow humanity’s evil side.
Image courtesy of CoinmMarketCap.com.
How Can I Purchase Substratum (SUB)?
We’ve put up a separate page that will teach you how to get substratum tokens and store them.
Conclusion
We believe the Substratum project will be of great interest to anybody concerned about government censorship or the existing internet’s centralization. The project has a big ambition, and it has the ability to shake up the web hosting industry. With a predicted value of $153 billion by 2022, this is a very lucrative industry.
We’re really enthusiastic about what CryptoPay might imply for the widespread use of cryptocurrencies. We believe that providing website owners with a straightforward payment connection would encourage them to take cryptocurrencies more seriously, increasing the probability and speed of adoption.
At Total Crypto, we’re really enthusiastic about what Substratum might mean for the cryptocurrency industry as a whole, particularly in terms of disrupting the website hosting business and the social purpose of maintaining freedom of expression and knowledge. We really believe that the initiative is being developed to improve the planet. However, as users, it will be our duty to ensure that this technology is utilized for good rather than evil.
Resources
We’ve included a collection of useful Substratum sites below (SUB).
SUB Wallets that are the safest
Hardware wallets are the safest way to store cryptocurrency. These wallets keep your private keys and do not reveal them to the public, ensuring that your crypto is kept as secure as possible. Perhaps you should handle your cryptocurrency as if it were a million dollars one day?
Can’t decide between the Trezor and the Ledger? Check out our comparison of the Ledger and the Trezor.
? Free Wallets of the Year
Because SUB is an ERC-20 token, it may be stored in an Ethereum wallet.
? The Best Apps For Keeping Track Of Your SUB Investment
Useful Websites
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DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.
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Author Biography
Tom Alford
Tom is a cryptocurrency specialist and investor from Edinburgh, Scotland, who has worked in the industry for over 5 years. He graduated from the University of Nottingham with an MA in diplomacy and a BA in politics, providing him a solid grasp of the social and political ramifications of cryptocurrencies. He is a big supporter of the future use of blockchain technology and believes in long-term initiatives above short-term profits. Tom may be reached at [email protected]
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