Hello, Dear reader! 🧑💻 Here I talk about the Constellation Network, Inc. Why I think the Constellation is one of the most amazing companies! Why they will steal the show and create and set the standard for future Cybersecurity for Big Data. I give arguments to which I paid more attention than to others, as possible clearly and briefly. Go!
As You know. We are well underway in the Fourth Industrial Revolution. This industrial revolution, unlike previous industrial revolutions, is characterized by as the “fusing of the physical, digital and biological worlds, impacting all disciplines, economies and industries, and even challenging ideas about what it means to be human.” (Klaus Schwab).
Of all the recently developed technologies, it is probably the blockchain and its capabilities that are changing the world more noticeable than deserve attention, research and participation. There are several areas that, like a number of technology projects, can benefit most from the capabilities of the blockchain.
The last 10 years have been marked by the emergence and immense growth of the Big Data industry. Whereas the first implementation of blockchain technology was the Bitcoin network, which appeared in 2009, the technology is now being widely integrated into other industries to maintain the reliability of their data. The use of blocking technology will transform profiling industries.
Blockchain is the underlying technology powering many cryptocurrencies and has thus found itself into isolated use cases around financial services and instruments and supply chain management. Existing blockchains have had limited use cases beyond the aforementioned because of scalability and compatibility limitations in the technology. If entrepreneurs, investors, and engineers can pave a path through overcoming of these primary obstacles, then we will see wider support of the technology.
Nowadays, blockchain is becoming a synonym for distributed ledger technology. However, blockchain is only one of the specializations in the field and is currently well-covered in of a cryptographic space. Besides blockchain technology, a new paradigm is gaining momentum: directed acyclic graph (DAG or dag).
Generation 1: Bitcoin - a digital currency powered by synchronous blockchain technology. Characteristics: decentralized, Proof of Work consensus. Main area of application is focused on the asset and store of value aspects. Limitations include slow, not scalable, and no application support.
Generation 2: Ethereum - the development of the Smart Contract paved the way to more use cases beyond financial instruments and incorporated simple homogeneous data sets. It sparked the discussion around blockchain being used as an immutable audit trail around a ledger and wallet balance of an asset. Characteristics: application support, Proof of Stake consensus (ETH 2.0), assets, simple data sets in Smart Contracts Limitations include: slow, not scalable, not compatible with existing infrastructure and data management, and limited application support.
Generation 3: Constellation Network - a micro-service and state channel supported ecosystem for big data use cases. A new standard to create an immutable audit trail while cryptographically securing heterogeneous and complex data structures. Characteristics: Application support for developers, directed acyclic graph (DAG - graph based database), Proof of Reputable Observation (PRO) - a reputation bases consensus, a horizontally scalable infrastructure with dynamic partitioning, and compatibility with existing data management solutions.
So, Blockchains, a specialization of DLTs, are getting a new rival in the field: distributed acyclic graphs (DAG). The most notable difference between the two is that blockchains bundle transactions in cryptographically linked blocks forming a single chain containing the global truth, while DAGs use a graph where a transaction is represented as a node in the graph. I don’t have time to go into that but it is quite interesting, trust me.
There are other DAG systems out there that you may have heard of, like IOTA, Nano, Fantom и Hedera. It’s a competition rich niche already.
Over the past couple of years, we have seen an evolution of blockchain technology #dlt. Blockchain has the potential to make exponential improvements to the way organizations operate and communicate, especially with regards to how we share data.
The world creates extra large massive of data everyday and exponentially more devices coming online to exponentially more data. We have created a world where we have to redefine data strategies to accommodate threat vectors such as spoofing of devices, rich databases, and existing IT investments and infrastructures.
Every business relies on intelligent data to run the organization and create competitive advantages against other companies or countries. Companies require databases to support rapid spikes in data volume, be horizontally scalable, provide high throughput without downtime, custom code, and delay. I believe that we will see multiple government and enterprise will to migrate aspects of their business over and onto blockchain technology to minimize inefficiencies and improve margins.
Nearly every government and enterprise is addressing how blockchain can be incorporated into their existing systems and used to create improved operational processes. Specifically, there has been an emerging interest in blockchain being applied to use cases that address threat vectors around data privacy issues, interoperability between machines, and data security. Traditional blockchain use cases lend themselves to cryptographically securing financial transactions and ledger balances [of financial instruments, supply chain tracking and data], but not actually cryptographically securing complex data structures and schemas. Which would broaden the use cases to included data science and big data applications such as data validation and integrity analytics and machine learning.
Constellation is positioned as the Blockchain for the Big Data market. Constellation believes that a blockchain-like solution, directed acyclic graph and protocol, is the perfect solution for an organization looking to minimize centralized network security threats and where data is critical for missions and operations.
While enterprise and government entities are exploring blockchain, success of the industry will rely on the crypto/blockchain companies themselves developing applications and use cases. The real winners in the space will be those that attempt to that zero in on one or a couple of the obstacles that exist.
My general point is that Constellation are very mindful of the hurdles that exist for the blockchain and cryptocurrency space to come into maturity.
Applications driving big data like the AI industry and IOT Industry are putting new constraints on the security of digital infrastructure. Constellation allows you to implement security and auditability for complex datasets without changing existing IT infrastructure. It’s secure, cost-effective, scalable, and easy to integrate.
Constellation is the first scalable enterprise-grade blockchain creating a standard for securing data in transit (between digital systems and hardware) and use (applications like artificial intelligence, business intelligence, analytics, and IoT) by cryptographically securing complex data structures.
Let’s dive in Tech. Constellation’s technology aims to facilitate secure big data processing by offering the ability to on board external data sets through easy to use API’s that integrate directly in existing applications. By utilizing a DAG (directed acyclic graph) protocol and customizable state channels, Constellation embraces an evolution to smart contracts that enables new data sources to integrate on DLT.
Constellation’s Directed Acyclic Graph (DAG) and consensus model, called Proof of Reputable Observations (PRO), allows to organize the network to match throughput needs of enterprise databases while handling higher-level consensus to prevent double-spends and malicious behavior. Furthermore, consensus enables to identify malicious behavior and nullified nodes while then applying topology to optimize the network for security and high throughput computational needs for databases that require speed, agility, scale for their varied use cases.
Constellation provides cybersecurity developer tools that are integrated early in the development workflow and leverage the resilience of a blockchain network and encryption with compatible architecture and scalability of big data management solutions (like MongoDB, Kafka, Splunk).
Below is a highlight of how Constellation approaches some general technological features often encountered in the blockchain space.
Improved Security. Moving away from centralized systems mitigates the network away from as single point of vulnerability. Additionally, Constellation will allow organization to choose between off-chain and on-chain data management.
Infinitely Scalability. DAG technology offers new ways of processing transactions, that are currently not possible in traditional systems. Hypergraph is different to all other DAGs in that it scales horizontally, it scales infinitely, and is designed to handle all of the world’s data. There is absolutely no limit!
Ease of Adoption. Constellation focuses on JVM and Scala as the main programming languages, with more that 9 million developers world-wide, to simplify the development of new applications. Their aim is to equip engineers with new scalable infrastructure technologies to provide cybersecurity for big data.
Tokenomics. Tokenized throughput on the Constellation network, that allows the value of data to be bound to a token. While basic transactions will remain free, big data processing & exchange will require DAG as payment. Reward for Node Operators.
Technically speaking $DAG is the financial state channel of the Constellation Network. It allows the seamless exchange and interaction between the various state channels and nodes that make up the network. $DAG binds the components of the network together and enables them to relate to each other.
With the launch of Hypergraph Network the next stage of Constellation and DAG begins.
After nearly 2.5 years in development the Constellation have officially launched main network, called Hypergraph, and ERC-20 Token has been swapped for native $DAG currency. Their original roadmap said Q1 2020, and even with COVID, they hit it on the mark. The network successfully launched on time with approximately 15 node operators that are already earning validator rewards and the Constellation team expect to onboard 80+ more validators in the next few months.
The DAG Hypergraph runs on fully decentralized nodes spread around the globe. The PRO consensus is reputation based and unlike anything else out there. It saves energy in comparison to POW and is more fair than POS. Full horizontal scalability ensures unlimited TPS growth with more nodes on the network.
This transition should mark a big change for both Constellation as a company and DAG as a token. The team is already actively working with multiple agencies in the US Federal Government to use Constellation’s technology to validate and secure big data to evolve digital infrastructure in the United States and beyond.
I think not only me feels it’s so cool about a blockchain company working with federal agencies! I'm glad to be a part of this incredible journey. And I'm is sure that their new technology will be a game changer and open new doors and opportunities in their fields of big data and cybersecurity.
Constellation (DAG) has been in the cryptocurrency space for a while now. They seem to have the long term thinking trait that not many other businesses possess. Their target business is focussed on cybersecurity and Big Data. And their actions show they are thinking far beyond the average crypto!
For me, one of the most convincing aspects about Constellation is their approach to business development. For starters, Constellation is heavily product focused. They are attempting to disrupt a huge industry by creating a solution that is significantly better than existing alternatives. There is a drive to create distributed ledger technology (DLT) innovations because they view it as a necessary component for the growth of their business in the long term.
Besides building a competitor-beating product, Constellation is focused on building real partnerships that should pay dividends over time, - which will ultimately lead to adoption if they manage to build a reliable platform.
Be sure to watch the video, think about it, and make your move 📍
Ben Jorgensen - CEO and Co-Founder of Constellation Network, Inc. - provides a detailed update on Constellation, the vision for the next three years, the role of $DAG currency in the ecosystem and roadmap, and the path to adoption (technology, community, business).
Coffee talk with Wyatt Meldman-Floch Co-Founder and CTO and the team around where Constellation is going and why DAG is a revolutionary and novel technology. Role of DAG, value of data, tokens, datatypes & data structures.
Read their Vision Paper.
This sounds very impressive and brings me to the next general opinion about Constellation.
The current crypto landscape has become increasingly saturated and competition is rife, it is more difficult now than ever before to pick the winners in the space. Constellation (DAG) is a very interesting and profitable project (in the long run), the team of which has set itself a gigantic task: create a new standard for secure data transportation!
To me Constellation is the synthesis of strong technology, business acumen and community awareness into project narrative. Constellation is a response and acknowledgment of the power that is inherent in information and data. Constellation embraces our future and has built a technology crucial for what lies ahead. Secure and validated data is the key to unlocking a true data exchange.
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Disclaimer! This article does not provide investment advice nor is it an official representation of the project mentioned. It’s an opinion piece. It is for educational purposes only! I hope it will be relevant both to folks who are new to the space, as well as those who already know about Constellation ($DAG).