In today’s modern and digital economy, data is the main currency. Therefore, IP addresses can also represent a very profitable commodity. However, the current system is set up in a rather centralized manner. This implies low liquidity when it comes to IP-transactions. The market, in general, is featured by restricted networks and exclusive payment systems.
IPSX seeks to introduce changes in this domain. We will give you a brief overview of how they intend on making this happen.
The acronym itself stands for IP Sharing Exchange. IPSX is a relatively new project, initiated by an experienced and enthusiastic team. It is led by CEO George Bunea and Concept Architect Sergiu Draganus. The latter had previously founded the data mining platform Geo Ranker. With all its success, the project also exposed the burning need for cost-reduced IP sharing and rental processes. As a result, they have created the IPSX concept, based on blockchain technology.
In a nutshell, IPSX aims to become a new global IP sharing marketplace. The company itself describes their effort as a key step towards a “next layer of the web”.
As their system is based on blockchain and smart contracts, it is decentralized and the market is governed by IP’s demand and offer. Decentralization enters the equation in terms of the very essence of how we currently approach IPs. Within the IPSX ecosystem, IPs become subject to renting and sharing.
Namely, IPSX intends to link its users in a P2P network. On the one side, it will include individual users and data centers (providers), who will be able to rent their IPs. The other users who will be renting IPs from the former are called requesters. With such a new system in place, IPSX aims to bring about a significant drop in IP prices. Also, they want to make them more accessible for various types of use. These include, for instance, data mining, micro-tasking, Virtual Private Networks (VPN) services, etc.
So, practically, any user with an IP will now be able to take part in a global market worth billions.
In addition to creating a sharing network and marketplace, IPSX seeks to become an application-building framework. In practice, this means that the platform will enable developers and the business sector to build new applications over the pre-existing IPs.
IPSX has envisaged a specific and concrete model of operation. At the first instance, you can share your IP address – or, if you operate a data center, numerous unused IPs. By doing so, you will compete to win IPSX tokens. At the second level, IPSX plans to establish a marketplace and framework for developers and businesses to build customized applications which necessitate high numbers of IPs.
If you select to become an IPSX user, you will operate via their app, installed on your device (this includes mobile). That way, you can share your IP on the platform or rent an unused IP. As for the company’s profit, it will collect a fee for each transaction within the ecosystem.
The platform based on blockchain is completely automated, and founded upon IPs’ demand and offer. Every transaction will be logged in the blockchain, making it safe and transparent.
As for the currency within the ecosystem, it will use the Ethereum-based IPSX token. The total volume of tokens issued will depend on the results achieved during the crowdfunding period which is currently underway.
The IPSX token sale will commence on February 28 2018, with the hard cap set at 10,800 Ether. Also, 1 ETH is worth around 70 thousand IPSX. As of now, there are around 300 million tokens available for sale. Following that, the distribution of thus generated tokens is scheduled for early March.