FAQFrequently Asked Questions About Jupiter Chain
What is Jupiter Chain?
Jupiter Chain is a blockchain project by JEDTrade.
Who is the founding team behind Jupiter Chain?
What is JEDTrade and what services does JEDTrade provide?
What are you trying to solve?
What kind of data will be stored? Where will the data be stored?
Identity data is sensitive and should be stored by secured and trusted identity verifiers on the network. Examples of identity verifiers could be utility companies, financial institutions or government agencies. They are required to host a server that connects to the network.
Transactional data are stored and replicated across all nodes on the local blockchain. This data will be encrypted and decrypted only with the user’s consent.
Does this mean the data receiver will pay JUPT to the data owner in order to have access to their data? Does this also mean the owner will have full control of their data and can decide whom they should sell their data to in order to receive JUPT?
How to deal with large storage needed at each participating node if all transactions are to go into blockchain?
Transactions history may have some PID too (account numbers?) - How does Jupiter Chain deal with that?
On which blockchain protocol is your token built on?
When is the token swap and what does that mean?
What date is the commercialisation of the platform expected?
What is the value proposition of Jupiter Chain?
How will the project be funded?
Who are the competitors? There are many projects that are doing the same thing as what you are doing, what differentiates Jupiter Chain?
There are several projects in this space and I believe we are all doing good work in progressing the research and development of blockchain data platforms.
Jupiter Chain’s design is first and foremost focused on enabling our use cases. These are based on ecosystems with trusted partners providing validated data. We believe that having our own public mainnet will not only allow for the transfer of data and value across the different use cases but also will have less friction than a general-purpose public blockchain.
Our research focus which is what most of the funds raised will go towards is to develop privacy-preserving analytics where there are no custodians of data other than the data owners themselves. We believe that this will be the key enabling factor towards a new data economy where data privacy regulations are met and a level playing field for all.