What is Essentia Project?

What is Essentia project?

ESSENTIA ONE is one of the most advanced developed project that we have seen since we started to review ICOs. Instead of issuing an ICO whilst being in the Alpha or Beta phase, Essentia One already has a fully functional product that is integrated with various dApps such as Ethereum, Status Storj and others. Besides that, they have an outstanding team that has shown to be able to produce results.

Essentia is a framework that allows users to have full control over their online identity. Users can control whether they want their identities completely private, whether they want to disclose certain portions of their identity, or they want to give the site full access. on their individual. In this persona, information such as your IP address, name, area and other personal information can be read by the servers of the pages you visit.

The main user, or "Seed" as Essentia calls it, is the only one who has full access to this personal data. Obviously, there will be certain situations where seeds need to share more personal data for authentication reasons, but in general, this is not necessary. By using the Essentia framework, users will have full control over how and where their personal information is shared with other servers.

Essentia's Aspects:

Private: Only the primary user, also known as the "seed" has full control over their data. Computers, servers, or other third parties may access seed information without prior permission.

Customizable: Essentia is easy to customize for anyone who is using it. Essentia can be used to protect the identity of machines and humans alike. Each person or machine will have different requirements and will need to customize the Essentia system to meet specific needs.

One Environment: The Essentia Environment provides a central location for storing multiple types of identifiers, personal data, asset information and more. All of this information is completely secure and decentralized.

Essentia aims to create a full-featured and personalized platform. The platform’s functions are built from the “Seed” outward, relying on fundamental cryptographic capabilities like sign, verify, encrypt, and decrypt.

The Essentia whitepaper explains it much better than I can:

“Essentia is a modular framework that is bootstrapped from a Seed by deriving its extended keys in a hierarchical deterministic way and by associating to them their related “data” that are available encrypted on decentralized storage or on local copies/backups.

Such data are associated to their corresponding labelled extended keys and are interpreted by the system, and by its components, as “registry entries,” configurations and content to be used when loading their related modules that compose the framework accordingly.”

The “Seed” in Essentia refers to the user’s data. The user (or the machine) is the only one with full ownership, access, and control over the seed, including all connected IDs, data, assets, and more associated with that seed.

The Essentia framework can be used indifferently by humans or machines (machines could include servers, IoT devices, etc.).

Some of the available modules in the Essentia framework include the IDs, login, KeyRing, DApp center, wallet, account-less exchange, decentralized exchange, decentralized storage, prediction markets, a decentralized VPN, a social DApp, crypto nodes, and more.

These are just some of the front-end modules that can be built inside the Essentia framework – all with a single click. As long as the user has his Seed, he or she will always be able to load and use their own customized decentralized framework from anywhere, on any kind of host machine or system, and even in virtualized environments.

Obviously, all of this is very technical, and the Essentia whitepaper goes into deep detail about every aspect of the platform.

The layman’s explanation of Essentia is that it’s a persistent, secure digital identity that can be used by both humans and smart devices. That identity can be carried across multiple applications and devices – like a social network on your smartphone and a decentralized exchange on your home computer. The platform is built to emphasize privacy, control, and a lack of censorship.

You can login with a single, persistent ID across multiple platforms, for example, taking back ownership of your data and selectively sharing it with different parties.

Today, a number of major blockchain projects already have integrations in Essentia. Projects like Gnosis, Ethereum, EtherDelta, Status, IPFS, Storj, and Aragon, for example, all have integrations in Essentia.

Essentia's Feature:

Essentia addresses the most common problems that arise in today's highly connected world. Information is more valuable than ever and can be searched for a high price on the market. Essentia provides users with a framework that allows them to be completely anonymous if desired and also allows them to keep their data on their computer.

By using a secure framework like Essentia, users can be sure that they are not exploited. They can filter out which entities are allowed to access data about them. This framework provides a way to fully decentralize your identity.

The most prominent condensation tool in the proposed list of products is the single seed mechanism that seems to be equivalent to the concept of a master password and is reinforced by advanced coding methods.

It is initialized once, and without it a user (or even a machine - the Essentia project is also targeting the IoT economy in the future) can not access the range of services that are already configured. Figure to work with it.

TEAM:

Between third-party services - cryptocurrency exchanges, wallet applications, file storage platforms, and Essentia kernel engines, have a variety of middleware modules, providing the ability for third parties. Three integrate Essentia solutions into their platform.

These would be API type modules that serve as a bridge between a user's ID / kernel on one side and browser plugins on the desktop, mobile applications, etc. ... on the other hand.

Essentia is being developed by a nonprofit organization called Essentia One, based in Amsterdam. The organization is set up in 2017. As expected, the scale of the team reflects the ambition of the project. It is also a top-heavy technique that is also not surprising, given its high technical nature.

Its group is mainly from Ukraine, and Linkedin's profile is provided to all 26 members listed on the site, most of which show the number of healthy people and networks involved.

Token distribution:

For the ICO: 46%

Group: 18%

Research: 11%

Masternodes: 10%

Advisor: 10%

1 ETH = 15000 ESS

You can visit the following:

Website: ​https://essentia.one/

Whitepaper: https://essentia.one/whitepaper_draft.pdf

Blog: https://blog.essentia.one/

Telegram: https://t.me/essentia_one

Github: https://github.com/essentiaone

Author: tinhkhuat

Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1885373