Matic Network is excited to announce its collaborative efforts with Prometeus Labs, a secure and decentralized ecosystem for people-owned data markets which overcomes current real-world barriers and serves as an infrastructure for gathering, validating, processing, enriching, and selling people-owned data. Prometeus will be using Matic Network as their payments solution within their ecosystem.
Some of Prometeus’s existing client base includes: Reebok, L’Oreal, Sony Music, Viacom, among others.
Scaling the Data Brokerage Ecosystem
Prometeus aims to better commercialize the buying and selling of personal data in a more secure and decentralized fashion. By packaging the gathering, validating, processing, enriching, and purchasing of user data, Prometeus aims to establish a more streamlined user-experience for parties on both ends of data brokerage. Prometeus will provide a mechanism that will prevent anybody from accessing the valuable data in their ecosystem circumventing the Data Purchase procedure, as a turnkey solution, that will be closely integrated with the existing solutions of Matic. That will allow partners and clients of Matic to gain more advantages from using the Matic Network ecosystem. And like countless other projects that have integrated with Matic Network, Prometeus Labs will be adopting Matic Network’s scalability framework to utilize an optimized TPS rate.
Adopting Matic Network as their integrated payments solution will provide huge transactional benefits for Prometeus. In order to best facilitate a high volume of transactions at rapid speeds and low cost, Prometeus moved forward with migrating onto Matic Network’s MoreVP version of the original Plasma framework. Because of Matic Network’s Proof-of-Stake checkpoints, liveliness is ensured. With the ability to process up to 65k TPS on Matic Network, Prometeus will be able to maximize its user experience and platform efficacy.
About Matic Network
Matic Network is a Layer-2 scaling solution that utilizes side-chains for off-chain computation, while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators. With a more robust framework to facilitate a higher throughput of transactions per second, Matic Network aims to provide the resources necessary for blockchain developers to build world-class dapps spanning multiple industries (such as decentralized finance, gaming, enterprise software, etc.)
Some of Matic’s current partners include Binance Labs, Coinbase Ventures, ETHGlobal, among others. Matic’s founder, JD Kanani, was one of the original contributors to the Plasma framework after the whitepaper was released by Vitalik Buterin and Joseph Poon in November 2017.
About Prometeus Network
Prometeus Network is a secure and decentralized protocol for data exchange and storage whose utility spans several industries. On a high level, this protocol allows any entity to upload any kind of data with an intention to sell it through the protocol. Prometeus Network’s primary focus right now is to allow people to monetize their data from social networks and give access to analytical products based on their data. Other use-cases of the network can include applications in many other industries that rely on data exchange and monetization.
Prometeus have shown demonstration of a first application — tools for identifying and gaining insights on influencer target auditory. This product will be a first dapp that will bring adoption to the network and will provide commercial application for the data stored through the protocol.
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