Substratum (SUB) Review – Free Decentralized Internet Access for Everyone
|White Paper URL||https://github.com/Substratum /protocol|
Substratum aims to provide free and fair internet to the masses through a decentralized internet without the need for additional technology to run it. In a world of decentralized internet, no one can censor or control the content through algorithms. Substratum will provide content across international borders, full net neutrality and a user-governed ethics system.
Table of Contents
The Idea Behind Substratum
The current internet available to the masses is one that is centralized, which brings problems such as censorship, unaccountability, and the inability to audit or oversee web content. For example, over 1.3 billion Chinese citizens must follow strict regulations about which content they can access on the internet and can only circumvent it through technology such as Tor or VPNs.
A decentralized internet eliminates the danger of a single authority controlling content. In addition, it provides net neutrality so that all sites have equal access, allowing users to browse without the need for an internet service provider (ISP). Due to encryption, the Substratum Network is not able to be monitored, so government control is not a concern.
Substratum offers a network of peer-to-peer computers which eliminates the need for VPNs and Tor. It instead offers the ability to integrate into existing internet frameworks, serving decentralized content through an easy-to-run Mac, Windows and Linux application service. It is available on most browsers, including Safari, Chrome and Firefox as well as mobile devices.
In addition, the current system of web hosting is expensive, costing sometimes thousands of dollar to just to host a site’s files – not to mention maintenance and security costs. Instead of paying a fixed cost per month based on the amount of bandwidth and computing resources you need to run the site, you pay based on how much traffic you receive. The bandwidth and data are calculated as each request comes through and a micropayment is made, making the total payment far less than the current model of internet providers.
In addition, Substratum has a self-governing system that can easily identify malicious members that are using the internet for content such as terrorism or child pornography. If and when consensus is reached by members of the Substratum Network, this type of content will be removed.
Real-world applications for Substratum extend to decentralized cryptocurrency exchanges, video platforms (which allow for open monetization schemes), payment systems for e-commerce, digital health records, or the exchange of private financial records.
Justin Tabb is the CEO and co-founder of Substratum. Formerly the founder of OverridePro, a web development company, he has experience as the lead developer for digital solutions for clients such as Apple, Facebook, HP, Disney and the election software for the 2008 presidential election campaign.
The CIO and co-founder, Abram Cookson, has over 18 years of experience as a software developer working for both small business and Fortune 500 companies. B.J Allmon is the senior software engineer with over 20 years of experience in software development as well as having expertise in leadership, program management and team leadership.
The Substratum Network
In brief, the Substratum Network is a global network of nodes that provides content to users without the need for a VPN or Tor. Accessing content on the network requires you to simply put the URL into the browser of your choice and wait for the site to load.
Substratum Nodes transfer content from hosts to web users. Anyone who decides to run a node is paid in SUB, the Substratum cryptocurrency. Running a node will require a mid-end CPU in additional to RAM. Users who run nodes earn SUB in return.
The Substratum Host enables a site owner to run their own website and manage their domain, files, databases, and pay hosting fees. Anyone can host websites using the Substratum host, both small businesses and individuals – regardless of technical skill. As part of the service, network users are paid to deliver content. Hosts pay per click, meaning that hosts only pay for those who view their content.
One of the reasons that cryptocurrency isn’t being widely adopted is that there are very few ways to exchange the currency and receive goods and services in return. Substratum believes that once there is a better way to provide these types of transactions, mass adoption will follow.
In response to this line of thinking, Substratum has developed CryptoPay, an online wallet that provides a means of exchange for fiat currencies as well as cryptocurrencies. The payment system, which functions similar to Stripe or Paypal, first converts a payment into Substrate and only afterwards pays the host in their preferred currency.
SUB Price History
Substratum raised over $12 million in their ICO which took place from August 14 to September 17, 2017.
After the token was sold for an initial price of $0.08 in July 2017, it reached a peak of $3.13 at the beginning of January. It has been on a downward trend since.
Substrate, or SUB tokens power the Substrate Network. It is an ERC-20 token and able to be purchased by companies who wish to host their website or content on the Substratum Network. Users who share their spare computing resources with the network as are paid in SUB, as well as those who run a node.
The idea is that the price of the token will rise as demand for the network rises. In addition, the total number of tokens is fixed at 472 million. Since the supply is fixed it should help in creating demand for the token.
How to Purchase SUB
SUB is also available on the following exchanges:
- BiteBTC (Trade SUB with ETH on BiteBTC)
- Kucoin (Trade SUB with BTC on Kucoin)
- OKEx (Trade SUB with BTC on OKEx)
- HitBTC (Trade SUB with BTC on HitBTC)
- HitBTC (Trade SUB with USDT on HitBTC)
How to Store SUB
SUB can be stored in any wallet that supports ERC-20 tokens such as Coinomi, MetaMask and Myetherwallet.
For maximum security, however, you should store your SUB on hardware wallets such as Ledger Nano S and Trezor.
Roadmap and Future Updates
Substratum had accomplished a lot in a short period of time.
The company was founded in Q1 of 2017 and had its ICO token sale in Q3. By Q4 it was already listed on KuCoin and Binance, and development of it Nodes began. By Q2 of 2018, Substratum was delivered to 60 million homes across the United States.
Its future plans include global expansion through the SUBLOCC Global Ambassadorship Program and releasing its Node Open Beta 2.
The company currently has a Node Early Open Beta available on their site which allows you to get an idea of how the product will be used.