What currency does Streamr (DATA) coin belong to?

Streamr Network's native cryptocurrency, DATA, serves as the currency for rewarding data providers, validators, and enabling network governance.

Jan 03, 2025 at 04:05 pm

Key Points:

• Streamr (DATA) is a cryptocurrency native to the Streamr Network, a decentralized network that provides real-time data streams.
• The Streamr Network is designed to enable the secure and efficient exchange of data between different devices, applications, and services.
• DATA plays a vital role in the Streamr Network as the primary currency used for incentivizing data providers, rewarding validators, and governing the network.

What Currency Does Streamr Coin Belong To?

Streamr (DATA) is the native currency of the Streamr Network. It is an ERC-20 token built on the Ethereum blockchain. Its primary function within the network is to:

1. Incentivize Data Providers: DATA rewards individuals or entities who contribute real-time data to the Streamr Marketplace. This incentivization mechanism encourages data sharing and promotes the growth of the data ecosystem.
2. Reward Validators: Validators play a crucial role in securing the network by validating and processing transactions. They are rewarded in DATA for their contributions to network security and stability.
3. Governance: DATA enables network participants to participate in the governance process. Holders can stake their DATA to vote on network proposals and influence the development and direction of the Streamr ecosystem.

Additional Features:

• Real-Time Settlement: DATA allows for the seamless and near-instantaneous settlement of data transactions on the Streamr Network.
• Scalability: Built on Ethereum, DATA benefits from the underlying blockchain's scalability features, ensuring it can handle high volumes of transactions efficiently.
• Security: As an ERC-20 token, DATA inherits the security measures and robust network of the Ethereum blockchain, safeguarding its value and integrity.

FAQs:

• What is the symbol for Streamr coin?

  • DATA

• What is the total supply of DATA coins?

  • 905,093,146 DATA

• What is the current price of DATA?

  • Visit reputable cryptocurrency exchanges or price tracking websites for real-time information.

• Where can I buy DATA coins?

  • DATA is available for purchase on cryptocurrency exchanges such as Coinbase, Binance, and Kraken.