Streamr (DATA), defines itself as a decentralised real-time data network. The platform operates as an open and scalable Web3 protocol with powerful tools. In this data protocol, users can create, share, and consume data streams. If you want to learn more about DATA, you have come to the right place. In this guide by Zatrun.com, you can find answers to all the questions, such as “What is Streamr?”

What is Streamr and How Does It Work?

Streamr is a chain-based network that focuses on data sharing and trading. The platform operates with an open-source and decentralised architecture, allowing users and algorithms to exchange data through smart contracts. It is built on the Ethereum blockchain and has a native cryptocurrency called DATA coin. The project aims to eliminate centralised structures and intermediaries in the data industry.

Streamr offers a real-time messaging platform, a market for data trading, and tools for working with real-time data. Users can earn rewards simply by sharing data, and the platform offers a risk-free opportunity for earning. Therefore, the project stands out with its low transaction fees and fast transaction feature. The platform, which was launched in 2017, emerged as a result of a crowd-funding campaign with a Web3 vision.

Users can share data without needing any infrastructure, and the rewards earned by sharing users are open to sharing with other network participants. The entire ecosystem is designed to turn individual data into secure data sets for trade. The project runs on the Ethereum blockchain and has an ERC-20 token called DATA coin.

What is DATA? Is It a Good Investment?

DATA coin, the native cryptocurrency of the Streamr platform, is required for the execution of smart contracts. DATA coin is also used to allow users to earn income from data. Additionally, micro-payments, rewards given to data-sharing users, and incentives for network nodes are given with this cryptocurrency. Products in the platform’s data market can also be bought and sold with DATA coin.

DATA coin aims to liberate the data industry as an Ethereum-based blockchain project. The project enables users to develop decentralised applications based on data. It also provides advantages to both institutional and individual investors with analytics engines and data markets. However, it is important to note that DATA has significant competitors in the field.