The Elumicate Network leverages a range of advanced technologies to effectively accumulate, deliver, and provide access to relevant data. Here are the core technologies utilized within the network:
- 1.IoTeX: IoTeX is a triple audited and award-winning blockchain platform designed specifically for IoT devices. It offers high speed, security, and scalability, making it an ideal infrastructure for storing Elumicate data securely. The IoTeX blockchain is utilized for token transactions, smart contracts, and data verification purposes.
- 2.Smart Contracts: Smart contracts are digital contracts stored on the blockchain that automatically execute predefined terms and conditions. In the Elumicate Network, smart contracts are used for token transactions, including access, distribution, conversions, transfers, and other related operations.
- 3.Artificial Intelligence and Machine Learning: AI and ML technologies play a crucial role in gathering, validating, and extrapolating event data within the Elumicate Network. These technologies enable the network to provide accurate and meaningful insights, as well as learning and verification models for various use cases.
- 4.Network dApp: Participants join the Elumicate Network through a dedicated decentralized application (dApp). The dApp serves as a platform for participants to verify their status, perform token transactions, and engage with other network functionalities.
- 5.NFTs (Non-Fungible Tokens): NFTs are utilized within the Elumicate Network to offer participation benefits and incentives to network participants. These tokens represent unique digital assets and provide additional value and rewards to users.
- 6.API (Application Programming Interface): The Elumicate Network incorporates a system API that enables external access to the stored data. Data purchasers, ecosystem providers, resellers, and relevant third-party entities can leverage this API to access and utilize the accumulated data for their specific purposes.
- 7.Vision Capture Devices: Vision capture devices are essential components of the network, strategically placed by participants to gather relevant real-world event data. These devices, which can include cameras or other sensors, capture visual and contextual information to contribute to the network's data accumulation.
- 8.Digitization Hardware: Data mining and digitization processes are achieved through a combination of edge computing, cloud computing, and hardware mining. The specific hardware requirements will vary based on the development phase and data capture needs. As the network evolves, there may be a need for upgraded hardware to support new digitization requests. Device owners within the network may be requested to upgrade their hardware to meet the evolving demands of the network.
By leveraging these advanced technologies, the Elumicate Network ensures the secure and efficient accumulation, delivery, and access of relevant real-world event data, driving innovation and providing valuable insights for various industries and markets.