The world is moving towards decentralization of the internet via the blockchain. Several startups exist that provide one form of service or the other in the decentralized ecosystem. Poseidon Network, one of such startups is focusing on decentralizing data and bandwidth sharing among internet users and will be launching an IEO through ABCC Exchange tomorrow 13 May 2019.
How it works
Just like miners who share spare space and bandwidth for mining cryptocurrencies and get paid for it, other internet users can do the same and Poseidon Network is out to make this possible. According to the company, it is providing an alternative data sharing method that is much faster and cheaper than the existing structures for such sharing by using the Internet of Things (IoT) devices.
Users of the network will be rewarded with two types of tokens, QQQ tokens and PSD token. The first will be used as a utility token on the network for miner reward and users who pay using this token are entitled to discounts. The second token PSD on the other hand are real security tokens distributed to users. Holders of PSDs have certain rights on the network such as contributing in making decisions on the developments on the network through voting and share in the profits of the network.
The IEO
Poseidon Network is supported by ABCC Exchange for its IEO which is to be launched tomorrow 13 May. The IEO has a total of 250 million QQQ for sale, a total of 1.19% of the token’s total supply of 21 billion. Only USDT is accepted for purchase of tokens at 0.0002 USDT per token on first come first serve basis and will last ti 17 May 2019. Users from the United States cannot participate in the IEO due to regulatory reasons.
With the Poseidon internet users with extra storage space and bandwidth can now earn money sharing their space and the QQQ and PSD tokens will be used in the decentralized data sharing economy.
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