Cosmo Coin COSM to Siacoin SC Exchange

Crypto Pair Details: COSM to SC

Cosmo Coin COSM

Cosmochain is a complementary Company-to-Consumer platform that connects cosmetics product users and content creators to cosmetics product suppliers, including cosmetics companies, OEM/ODM manufacturers, R&D centers, and distributors. Through this platform, the Cosmochain Team aims to solve the aforementioned unmet needs of both companies and customers. All data collected from platform participants are kept confidential in this customer-centered ecosystem. Those who contribute their scarce time and attention toward producing and curating contents for others are compensated with tokens and receive pro-rata ownership of the contents they create. On the other hand, cosmetics product suppliers are able to actualize a wide variety of “on-demand” services on the platform by utilizing API that Cosmochain provides. Two different tokens and one internal virtual index make up the Cosmochain ecosystem: 1) The first token is an externally traded token called Cosmo Coin, 2) The second token as well as an index of contribution to the platform is Cosmo Power, which can be used to make payment within the platform and given out as rewards for activities, and 3) The one virtual index is called Cosmo Level. Cosmo Level, a reputation index, is designed to prevent abuse of power within the platform and can only be accumulated by actual activities and contribution. Having been assigned distinct roles within the Cosmochain platform, these three entities construct a healthy ecosystem. ● The success of the Cosmochain platform lies in the active participation of users – where customers create reliable data after trying out various cosmetics products and sharing the experience with one another on the platform. As a result, Cosmochain has designed its own transparent and fair reward system based on Steemit’s incentive model. ● The Cosmochain platform connects this user-created data to interested company participants and distributes the payment made by the company to customers as reward for use of the information. Through this reward system, Cosmochain aims to address two structural issues of social media-based platforms: 1) risk of inflation following the necessity of a long-term and great quantity of token issuance to grow the community, and 2) risk of decreasing attractiveness of contribution rewards after the inflation rate has been stabilized. ● In addition, the Cosmochain platform aims to realize an upgraded tokenization model that brings the power back to its users by redistributing the following: (i) the right to display ads in a user’s viewing space, (ii) the right to access a personally curated Marketplace, and (iii) the right to share personal data to partake in a study or survey. Simply speaking, the Cosmochain platform will go beyond simply allowing users to share onedimensional personal information. As such, Cosmochain serves the purpose of revolutionizing the cosmetics industry’s ecosystem by redistributing ownership and management authority of personal cosmetics data and contents to those in need, and through operations of transparent rewarding system for the redistribution of data.

Siacoin SC

Sia is a decentralized cloud storage platform similar in concept to Dropbox and other centralized storage provider where instead of renting storage space from a centralized entity, clients rent storage space from other peers. The only difference is Sia uses blockchain to facilitate transactions Nodes provide storage to clients using the Sia blockchain as contracts. Before storing the data, the data is encrypted into many pieces and uploaded to different hosts. Siacoin is created by David Vorick and Luke Champine of Nebulous Inc. As the traditional storage platforms are higher in cost, more expensive and data is not well protected. Siacoin promises to offer secured storage transactions with smart contracts which is more affordable and reliable. Moreover, it is completely open source which means many individuals have contributed to Siacoin’s software hence there will be an active community building innovative applications on top if the Sia API. In 2018, Siacoin aims to introduce file sharing and be the go-to cloud storage platform for companies. Their goal is divided into 3 time frames which are short-term, medium-term and long-term development. Short-term development focuses on file sharing between Sia users. This allows Sia users to share files in the platform without having to take it off the cloud while increasing network utilization. Medium-term development’s goal is to enhance partnerships. This means reaching out to large companies like Netflix and Dropbox to hopefully be able to be their storage and distribution framework. Lastly, long-term development aims to expand its horizon to share files with non-Sia users and support mobile wallets.

SOURCE: COINGECKO

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