Tierion describes itself as “a new standard for verifiable data”. Find out how it plans to use blockchain technology to transform data management today in our Tierion review.
What Is Tierion?
Tierion, found online at Tierion.com, is a blockchain technology company that promises to transform the way the world secures and shares data. The company recently completed its token sale.
Tierion turns the blockchain into a global platform for verifying any data, file, or process. Anyone can use Tierion’s API, called Chainpoint, and other tools, like Zapier, to anchor a permanent, timestamped proof of their data onto the blockchain.
Tierion has already attracted some big name partners. They’ve partnered with Philips’ Blockchain Lab, for example, as well as Microsoft. The company claims that hundreds of clients already use its flagship Chainpoint API.
Uses For Tierion
Obviously, Tierion’s technology is very broad. It’s not a specialized application for a niche audience: it can be applied to a wide range of uses, applications, and corporations. Here are some of the proposed use cases according to Tierion.com:
- Audit trail for a business process
- Document timestamping
- IoT data collection and provenance
- Verifying credentials via the blockchain
- Verifying data for clinical trials
- Regulatory compliance and transparency
How Does Tierion’s Chainpoint Work?
Chainpoint is a highly scalable distributed service and open source platform that allows Tierion to anchor data to the bitcoin and Ethereum blockchain.
Tierion describes their Chainpoint technology as “the internet’s dial tone for trust.” The platform has its own website at Chainpoint.org.
With Chainpoint, developers can anchor an unlimited amount of data to multiple blockchains. You can verify the integrity and existence of data without needing to rely on a trusted third party.
So far, Tierion claims that hundreds of clients use Chainpoint, including Philips and Microsoft.
The technology works by linking a hash of your data to a blockchain and then returning a timestamped proof. A Chainpoint service receives hashes which are aggregated together using a “Merkle tree”. The roots of this tree are anchored onto the Ethereum and bitcoin blockchains. This allows the Chainpoint proof to be created and continually upgraded.
That proof is created in the form of a JSON-LD document. This document contains the information needed to cryptographically verify a piece of data anchored to a blockchain. It proves the data existed at the time it was anchored. Chainpoint proofs can also be verified without reliance on a trusted third party.
Chainpoint is already in Version 3.0 (beta). You can view a complete listing of the platform’s updates and changes over time at the chainpoint.org/ official website.
What Is Zapier?
Tierion also has a platform called Zapier that lets the company connect to over 500 online services – including Salesforce, Mailchimp, Gmail, Slack, Stripe, Google Sheets, and many other popular collaborative environments and online platforms.
Tierion, overall, allows for the creation of blockchain-verified data suited for a variety of applications. Here are some of the core features of the platform and its Chainpoint technology:
- Issue Digital Receipts: Businesses can issue digital receipts to prove any transaction took place. This feature could extend to purchases, stock trades, insurance claims, and anything else.
- Audit Trail: Create a cryptographically verifiable audit trail, tracking data provenance and processes.
- Integrate Your Software: Integrate your software with existing web, desktop, and mobile applications.
- IoT Data Collection: Capture data from various smart devices as part of the Internet of Things (IoT). Every record gets a Chainpoint proof.
- Immutable Records: Medical records, financial records, corporate governance, legal records, inventory management, and other industries can all benefit from immutable record-keeping. Obviously, we’ve already seen a number of companies attempt to bring blockchain technology to these industries.
- Secure Customer Data: Companies can create a verifiable record of customer data, reducing KYC and compliance costs.
- Hash API: Tierion has a platform called Hash API that allows developers to anchor up to 100 records per second for free. It’s a fast and easy way to add blockchain timestamping, data security, and cryptographic audit trails to your applications.
- Data Collection: Tierion allows you to collect data from web and mobile applications. You just create a datastore, then send Tierion data via the RESTAPI or HTML forms. Tierion will automatically create a Chainpoint proof for every record. You can use that Chainpoint proof for every record. It can verify at which time and place a specific transaction occurred.
- Integrates with 500+ Apps: As mentioned above, Tierion integrates with 500+ apps and online services via the Zapier platform.
Tierion offers free memberships that offer 1000 hashes per hour (Hash API) or 15,000 records per month and 5 datastores per month (Data API).
If you need greater capacity, you can sign up for Tierion’s enterprise plans, which provide higher volume in exchange for paid memberships.
Tierion doesn’t require you to sign any contracts. You can change your plan at any time or cancel.
Unsure if you need an enterprise plan? As you approach your monthly limit, Tierion will send you notifications. The company will contact you with suggested upgrades for your plan.
Who’s Behind Tierion?
Tierion is led by Wayne Vaughan (Founder and CEO). Vaughan created one of the first SaaS marketing automation platforms and founded a digital agency in the mid-1990s. Other key members include Jason Bukowski (Founder and Lead Developer), who has 20+ years of experience developing scalable software. He’s the lead developer of Chainpoint and several popular open source crypto libraries.
Tierion is turning the blockchain into a global platform for verifying any data. Anchored in the bitcoin and Ethereum blockchains, the company caters its services to businesses across a range of industries and applications. The technology can be used to verify anything from medical records to online purchase.
The company has already made its API, the Chainpoint API, as well as tools like Zapier that allow the technology to work with over 500 applications and online platforms.
You can learn more about Tierion by visiting Tierion.com