Po.et is a shared (decentralized protocol), universal ledger that is designed for managing the ownership, attribution and licensing of digital media assets. Po.et is a continuation of Proof of Existence, the first non-financial application of the blockchain. By creating an open platform on the Bitcoin blockchain, Po.et aims to create the most institutional, globally-verifiable record of digital media assets.
POE Price will transform the publishing industry by creating an immutable and distributed ledger for creative works that may serve as a platform for both centralized and decentralized media applications.
Licensing a digital media by using an existing license or by purchasing a new one is no difficult task. But, protecting and enforcing your license is a sure challenging job. But the same has been overturned by the revolutionary platform offered by po.et through stretching the branches of blockchain.
The platform developed by Po.et will sound appealing to creators as well as publishers. Creators will be able to prove the ownership of their content and prevent informal cribbing, while publishers can verify the content. Also, the bridging gap offered by this platform will help creators to find a publisher and in turn publishers can find a new content.
Being decentralized in nature, this system is invulnerable to the risk of power outage or a natural disaster in a specific centralized location causing the entire platform to fail.
Increased Utility of Blockchain tech
As we discussed the vertically diversified use of blockchain tech, the horizontal line also took a wide stretch increasing its boundaries in the market. Bitcoin is the first to went live in 2009, and it stands on an enormous market capitalization of $125 Billion. Bitcoin is the most popular coin in crypto market and widely accepted among all over the world. But this game is no longer limited to Bitcoin only.
Bitcoin has its inherent limitations. And to overcome its limitations modern aged cryptos like Ethereum, Litecoin and Cardano have been developed. Bitcoin network can never produce its coins exceeding 21 million in total. While Litecoin can accommodate up to 84 million coins. Thus, moving from Ltc to Btc the unit price of a complete Ltc coin ($ 82 approx.) is far more affordable than that of bitcoin ($ 7336 approx.).Litecoin’s greater number of maximum coins and smaller price of its unit creates a positive psychology in users’ mind and they might prefer transacting in whole units rather than in several fractions of a unit – as expressed by IBM executive Richard Brown in an interview posted by IBM’s banking division in November 2013. The average transaction confirmation time of Bitcoin is around 10 minutes per transaction. Now the same has been reduced to nearly 2.5 minutes by Litecoin and even 10-20 seconds if you proceed further to Ethereum.
Within blockchain, an evolutionary PoS (proof-of-stake) algorithm have been developed. Now this method of generating coins is laudably energy-efficient and facilitate faster transactions. Furthermore, being based on a layered architecture, it is considered highly secure. Cryptos like Cardano, Ripple and IOTA have been established on this platform. Well, Cardano price may not be as appealing as that of Bitcoin or Litecoin today, but with scarce availability of resources in future age, such cryptos are set to go nowhere but up.