Hello, before going into the presentation of the XSL LABS project, I must start with :
An ICO (Initial Coin Offering) aims to raise funds to launch a project. You can think of it as a start-up and a start-up can succeed or fail.
There have been many ICOs and some have been very successful like Brave but others have failed. In addition, scammers have taken advantage of this system, hence the ban on making and participating in an ICO in some countries.
The main person who launched the XSL LABS project is a well known Youtuber in the French crypto community. Note that there are already more than 16 people working on the development of the XSL LABS project and that the ICO has been a success since they exceeded the minimum objectives they needed for a while. There have been good projects created by the French crypto community like Hardware Wallet Ledger or Just-Mining (Just Mining was created by a well known Youtuber too).
XSL LABS : Internet of Trust | Protect your Privacy
The objective of the XSL LABS project is to give people back control of their personal data.
SDI (Secure Digital Identity) : Personal informations integrated into the SDI is secured using cryptographic encryption and then decentralized storage in a distributed blockchain-type ledger. The creation of SDI is based on a Smart Contract.
The public key allows authentication without loss of data since the user will be constantly informed of the use and destination of the information he communicates. The user will keep a trace of each identification and can from its application withdraw the reading rights to a third party and this at any time in compliance with the laws in force. The user will be the sole holder of his private key. No one will ever have access to user data. All information will be encrypted on the network, this data will be unreadable even for XSL LABS employees. Each exchange of personal information authorized by the user will be stored in a decentralized history. And everything will be done with a single application : ONE.
Maybe in the very near future we will see more and more :
- Login with ONE
- Register with ONE
- Verify your KYC with ONE : users do their KYC once and no need to redo a KYC on each site, which saves considerable time.
ONE will integrate a SYL Wallet : XSL LABS Utility Token. With SYL, users will be able to purchase services, execute smart contracts.
XSL LABS will collaborate with European developers and start-ups who will want to build decentralized applications within the SYL ecosystem.
These different actors will be in charge of maintaining a node on the network in order to optimize large-scale decentralization.
SYL Library : the dApp Store. It will also ensure the quality of the services and that they are GDPR compliant. All services offered on the SYL Library will use SDI as a trust mark.
ONE will distribute remuneration to users who agree to see ads with Cortex in SYL. The user who accepts to receive offers will not be inundated with proposals. Part of the revenue generated by advertising campaigns in the SYL ecosystem will therefore be redistributed to users who participate anonymously.
Protect your personal data and prevent their dispersion and dissemination without any control on the internet. Security increases thanks to Blockchain technology, much more effective than the security systems implemented on centralized storage servers and used by Facebook, to name just this example. And thus prevent the leakage and sale of your personal data for commercial or political purposes.
Even if you are in a country that does not allow participation in an ICO, but if you are interested in cryptos and related projects, I think this information about this project could be useful to you. If in the future you hear more and more people talk about ONE, SYL, CORTEX.
Because this project will come quickly, I do not have a specific date, apart from the end date of the ICO : March 31, 2021.
But I do not think we will have to wait long.
Thanks for reading my post and happy earnings :)
Publish0x Links : Newcomers - Bitcoin Story - Ex nihilo - Economic Transition - Crypto Potential - Stolen Post - XSL LABS Probit - Add SYL Token on Pancakesswap
Cryptowido Link : More about XSL LABS
Other Link : XSL LABS ICO