Decentralizing The Power of Data - Introducing Essentia

Essentia: Project Introduction 

The Internet is a truly amazing thing, from its invention to its tons of different applications. In this internet age humans have grown more dependable on the internet for different needs and wants, from business, financial, social, recreational needs and so much more. The question nevertheless is "at what cost?".
In an age where hacking, malware attacks and other malicious acts are common online, personal information/data used online for different purposes are stolen mostly without the owner's knowledge.
According to the Identity Theft Resource Center, through privacypolicies.com: Over the past decade there have been over 5,500 data breaches. That’s 550 data breaches a year, and more than 1 a day. Today there is a chance that everyone's data has been *compromised at one point or the other. The importance of privacy cannot be overstated as it helps people maintain their autonomy and individuality.
The Blockchain "the new internet" has become a disruptive force, taking the world by storm and we have seen development of great decentralized platforms already providing solutions to real life Problems but this new technology has its own limitations and ways in which it can be improved upon.
I will be introducing a blockchain project with a decentralized platform that is designed to safeguard data the information for both personal and enterprise use, and also provide innovative solution to the limitations of the "New Internet". This Project is called Essentia.
Photo by bruce mars from Pexels

What is Essentia

Essentia in layman's terms; is a single structural entity formed by a set of protocols for the purpose of controlling the online identity of its users. A platform that integrates different decentralized platforms into a single framework.
With Essentia users can not only prevent their data from being stolen but can also seamlessly apply them to different on-chain applications like logins KYC and many more.
On Essentia a host of different otherwise unconnected user information is linked together to form an entity which is then seamlessly integrated over a series of decentralized platforms to easily unlock both the simple to the more complex platforms.
Essentia not only has human applications but also acts as a decentralized OS for machines, IoT devices and a host of other assets integrating physical assets/resources with decentralized ones in a single place and still maintaining the highest level of privacy for both user and machine information.

Why is Essentia needed? The Problem

The Problem Of Privacy And Security: 

Privacy as some will say is currently overrated in the present digital world, IT users currently trust centralized bodies with the safety and management of their data ranging from, personal information,  social interactions, habits, sleep and work out patterns and financial information. 
Users are exposed to a host of risks because of the insecure ways in which this centralized entities store their data. Users are mostly one Hack or Malware attack away from losing it all and only a few are aware of this.
Taking as an example the recent hack of centralized Japanese cryptocurrency exchange Coincheck, where hackers made away with about $500 million worth of traders tokens. All efforts to recover the stolen tokens have been futile and those investors currently face an uncertain future.
Hundreds of Breaches like this happens yearly but unlike this one, in most cases, nothing as obvious as this is stolen, because the target of the hackers is a different property; user’s data and private information. Most companies are not legally obligated to publicly report this breach at all and users remain unaware of what has happened. 
Meaning presently our assumed state of privacy is something that is inexistent in reality, and in cases where measures can be taken for self-protection by users, the solutions are not always user friendly.

Limitations of The New Internet: 

Blockchain has seen invention of various platforms with great applications and set of data on each one but there remains a question of integration.
Only a few decentralized platforms are integrated such that they can function together and that is a problem because the technology is great, the data is good but until blockchain protocols can interact over multiple chains, the technology will not reach its full potentials. 
This concludes the projects introduction, having stated the problems, in my next article on the Essentia Blockchain project I will be explaining the solution Essentia offers and how this is achieved with an example use case, so stay tuned.
Meanwhile join the Essentia Telegram community here > https://t.me/essentia_one  and refer to the website > https://essentia.one/ Whitepaper https://essentia.one/whitepaper.pdf  ANN thread > https://bitcointalk.org/index.php?topic=2704531.0  for more information about the project and token sale.

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