What Is Streamr and How to Buy DATA Tokens?

In our commitment to continually broaden our offerings, we are introducing a new project addition: Streamr. Streamr is a decentralized peer-to-peer data network that enables users and applications to create, share and consume data in real-time.

In this article, we will explore Streamr, discussing how it works, Streamr Network Nodes, and its native token, DATA. We will discuss DATA statistics and the features of Streamr. Finally, we will conclude by looking at the history of Streamr and providing a step-by-step guide on how to buy its token, DATA.

What Is Streamr? 

Streamr is a decentralized peer-to-peer network that operates in a manner allowing real time data to be published and subscribed to by users. It serves as the backbone for applications enabling them to share data and send live updates to a wide audience. Streamr addresses one of the major issues with data transfer centralization, which often leads to scalability limitation, vulnerability to tampering, and possible censorship. Streamr’s decentralized approach overcomes these challenges by distributing data across interconnected nodes in a network ensuring strength, security and resistance against censorship.

The Streamr Network consists of nodes that communicate with each other using the Streamr protocol into topics known as streams. The primary function of the Streamr Network is to efficiently deliver published data streams to all subscribers interested in that specific stream. This architecture makes Streamr an essential component for applications as it acts as middleware for message transport. It allows various entities to share and exchange information without relying on a server mediating data transactions, fostering a decentralized medium for handling data.

In the Streamr Network, data is organized into separate streams, which can originate from a variety of sources like applications, factory machines, smart city sensors, databases, and commercial data feeds. This versatility allows the Streamr Network to handle diverse data types and sources effectively, making it a versatile and scalable solution for real-time data communication and distribution. Streamr facilitates secure and efficient decentralized data sharing and collaboration, eliminating the need for central intermediaries.

Features of Streamr 

Let's discuss some of the features of the Streamr platform that make it unique, providing an explanation of each feature.

1. Real-Time Data Streams: Streamr allows users to create and manage streams of data in time. These streams can come from sources, like devices, applications, sensors, and more. This feature enables the flow of data immediately as it is generated.
2. Decentralized Network: Streamr operates on a network that is decentralized meaning that data is not stored on a server but instead distributed across nodes. This decentralization enhances security, reliability, and the ability to handle faults.
3. Data Monetization: Users have the opportunity to monetize their data streams on Streamr. This means that those who generate data can sell or share it with users or applications creating an economy where data holds value.
4. Secure and Private Data: To ensure the security and privacy of data on the network Streamr utilizes techniques. Data can be encrypted for protection purposes and cryptographic proofs are used to validate transactions.
5. Data Marketplace: On Streamr’s platform there exists a marketplace where users can engage in buying and selling of data streams. This marketplace facilitates the exchange of data between parties while also serving as a potential revenue source, for those providing valuable datasets.

How Does Streamr Work: Streamr Network Nodes

Streamr Network nodes are essential components that enable applications to interact with the Streamr Network. These nodes serve as access points to the network, allowing applications to publish and subscribe to data streams. There are two primary strategies for interfacing applications with Streamr nodes: light nodes and broker nodes.

Light nodes, implemented using the Streamr JS client, run locally as part of the application. They are imported as libraries and integrated with the application through function calls. Light nodes offer a decentralized approach, as they do not require separate hosting of Streamr nodes. However, they are primarily suitable for JavaScript-based applications and offer the advantage of cryptographically signing data at the source.

On the other hand, broker nodes are Streamr nodes that run externally to the application. These nodes are hosted on a server and interact remotely using supported protocols like HTTP, Websocket, and MQTT. Broker nodes are more versatile, as libraries for these protocols are available in various programming languages. They offer convenient data publishing and subscription capabilities from the Streamr Network and can perform additional tasks like mining.

What Is the DATA Token? 

DATA is the native token of the Streamr network, functioning as an ERC-20 token on the Ethereum blockchain. DATA token serves a vast range of purposes within the Streamr ecosystem. DATA tokens are employed for project governance, enabling token holders to participate in decision-making processes that shape Streamr's future. DATA tokens play a vital role in incentivizing network participants, ensuring the robustness and efficiency of the Streamr Network. DATA tokens are also utilized for delegating stake on broker nodes, allowing users to engage with the network's infrastructure and maintain its integrity. They are also used to facilitate transactions within the Streamr Marketplace, making it a key medium for payments.

DATA tokens are designed to be interoperable across multiple blockchain networks, including Ethereum, Polygon, with plans for expanding multichain support in the future.

One of the primary functions of DATA tokens is to facilitate data transport and generalized messaging within the Streamr Network. Essentially, the DATA token serves as the driving force of the Streamr ecosystem, empowering users to engage in secure, efficient, and decentralized data sharing and communication across various domains.

DATA Statistics (Oct 24, 2023)

How to Buy DATA Tokens?

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including DATA, users can now trade easily and seamlessly. To purchase DATA tokens on CoinEx, follow the steps below.

1. Create an Account: Start by signing up for a CoinEx account.
2. Deposit Funds: After logging in, deposit funds into your CoinEx account using any supported cryptocurrencies or deposit methods available on the exchange. Having funds in your account enables you to execute trades seamlessly.
3. Navigate to DATA Trading Page: Once your account is funded, go to the dedicated DATA trading page on CoinEx. You can find a search box and enter the term DATA to swiftly locate the trading pair associated with DATA tokens.
4. Choose a Trading Pair: Select the trading pair DATA/USDT to trade DATA against USDT (Tether).
5. Specify the Purchase Amount: Determine the quantity of DATA tokens you want to purchase. Input the amount in the trading interface, which will calculate the corresponding cost based on the current market price.
6. Execute the Trade: With the specified amount, proceed to execute the trade. Confirm the details, and if you are satisfied, submit the order. 

By following these comprehensive steps, you can easily trade DATA tokens on CoinEx, taking advantage of the available trading pairs.