The blockchain technology and Bitcoin, in particular, has solved most of the problems that have been plaguing digital platforms such as the IoT. It is secure as it has no central point of failure. That said, it also has several shortcomings that have been widely publicized. For those who have been looking to overcome these shortcomings, Catenis has proven to be a reliable platform for hosting their applications.
Now Catenis users can unlock diverse features and functionalities of this platform with ease using the BCoT tokens. This article will fill you in on everything you need to know.
First, What Is Catenis?
Catenis is a web services layer that is encoded onto the Bitcoin platform. It is designed as a platform for third-party apps, and its main purpose is to overcome the hurdles associated with Bitcoin. Some of the most important uses of Catenis are:
Increasing Size Limit
Bitcoin set apart only 80 bytes for its messaging field. This means that large data sizes cannot be exchanged between users. Catenis overcomes this by eliminating size limits and allowing large chunks of data files and programming codes to be transferred.
Imposing Permission Requirements
One of the virtues of Bitcoin is that it is an open and transparent platform. This, however, has aroused privacy concerns as everyone can see communications with IoT devices. This means that hackers could potentially take control of these IoT devices. Catenis is preventing this by imposing permission requirements for everyone sharing your network.
Catenis is also enabling end-to-end encryption to ensure privacy in communications as anyone can see messages sent on the Blockchain platform.
Facilitating Speed And Scaling
One of the main shortcomings of Bitcoin is that it is slow and almost impossible to scale. By running as a second layer on the platform, Catenis overcomes this problem and facilitates faster confirmation times and seamless scalability.
Using BCoT IoT Crypto Coin With Catenis
So, how do BCoT tokens come into play between Catenis and Blockchain? Well, it has everything to do with Catenis. It is now the designated platform for unlocking features and functionalities on the Catenis platform. Some of the features these tokens unlock include:
Blockchain Data Logging
This is a key feature used to prevent the sale of counterfeit goods as it provides proof of authenticity capability.
This feature encrypts messages between IoT devices, hence making them impossible to hack and manipulate.
Essentially, this gives you digital keys capable of unlocking functionalities in remote devices connected to your IoT network. Only you can use the keys.
Intelligent Edge Contracts
Enterprises are adopting digital authentication, and this feature facilitates the creation of smart assets as well as smart agents.
This helps you to decentralize your platforms and applications, hence eliminating central points that can be easily exploited.
BCoT Tokens ICO Details
BCoT Token is currently holding its pre-ICO sale, and it is only open to those who show genuine interest and sign up with the platform. The public token sale will start on 27th may and run well into June. Additional planned milestones will proceed after the set fundraising targets are realized.