Lisk has continued to rise through the crypto world ranks for various reasons. However, the main reason is due to the sidechains that it will make possible. Sidechains help to relieve pressure from the mainchain by transmitting just essential transactional data to the mainchain. A good analogy is the core chain as districts. The sidechains are the streets in this district, and the DApps are the shops on the streets.
The Lisk community has anticipated the arrival of the Lisk Sidechain for quite a while. They are expected to launch in early 2019. The first ICO for the Lisk sidechain has even been announced; it is called Madana.
What Is Madana?
Madana is an acronym for MArket for DAta ANAlysis. It will be a decentralized marketplace for analyzing data. This platform will allow market members to participate in data markets without compromising their privacy.
Data is becoming one of the most valuable assets in the world. However, its value is not benefiting those that produce it. Via Madana, those that generate data will be able to monetize their data. This is as opposed to what happens to today where those who create data hand it over to third parties with compensation.
Besides making it possible to monetize data, this platform makes it possible for users to hand over data to analysts for a small reward. This will in turn design algorithms to extract information from the data.
However, they will not be able to control it or access the details of the data sets. Once the analysis is done, it can be sold to third parties that need the insights. This platform essentially connects producers, analysts, and consumers of data. Besides that, it ensures that the data is protected from criminals and third parties using the blockchain.
Right now, Madana is in a patent-pending process. This gives the platform an edge over the competition. The patent targets the process of data handling that is utilized by Madana. Thus, it will let people use and analyze this data without anyone controlling the data.
The Madana Team
The Madana project has a large, strong team. It also has the scope to not just to be the token for the Lisk ecosystem but companies other than Lisk. It can even be utilized outside the blockchain world. Since Madana is a sidechain, it will make it possible for all manner of data-based apps to be built on top of it.
This Is Historical
Madana is going to be the first sidechain on Lisk. Along with the ICO, there will be a native token called the Privacy Analysis Exchange (PAX) token. This token will fuel the Madana ecosystem.
Why Lisk Blockchain MArket For DAta ANAlysis
A major reason this project is on Lisk is the personal relationship between its founder and the Lisk leadership. The team wanted to use Ethereum, but they discovered only Lisk could handle the workload Madana expects.
Madana PAX Token ICO Details
Parameters Of The ICO
- Ticker: PAX
- Pre-Sale: September 1 – October 31
- Pre-Sale Price: 1 PAX = $0.05 USD
- Bonus: 10% for those that invest in Lisk
- Main Sale: Q1 2019
- Main Sale Price: 1 PAX = $1 USD