Why Dispatch Labs Could Enable The Biggest Disruptions In Crypto For 2018
At the risk of oversimplifying, it seems like everywhere crypto goes, it ends up disrupting something.
Which isn’t a bad thing. Traditional industries that have become bloated, sloppy versions of themselves could use a quick splash of water to the face.
But it’s important to keep in mind that while Wall Street investors worry about the volatility that this disruption brings, that the disruption itself occurs because industries aren’t serving the interests of their users as well as ‘Crypto Company X’ can.
Whether it’s pleasant or not, disruption usually yields growth. Which why it’s so exciting to see a crypto company that’s gearing up to enable one of the biggest disruptions this year.
The World of Dispatch Labs
So, what’s the Dispatch Platform about? Well, with blockchain going mainstream, Dispatch Labs has decided to build the right architecture to make sure blockchain is business-ready.
The most interesting thing about Dispatch is that disruption isn’t some inevitable side effect of their platform. Dispatch created a platform specifically for disrupting a host of industries.
How did they do this? Well, by enabling the development of secure, decentralized peer-to-peer applications on a massive scale, they’re able to capitalize on a massive industry-wide opportunity.
But before we get to that, let’s take a step back and really try to understand what Dispatch is all about.
At its core, Dispatch was designed to be the first blockchain protocol to leverage on-chain smart contracts to manage distributed storage of application data off-chain. Those smart contracts then “program” (for lack of a better word) how the data can be accessed, linked and governed, like your typical SaaS-based centralized architecture.
Here’s where things get interesting. Because of its design, Dispatch actually enables business applications to easily migrate to blockchain without having to worry about sacrificing speed or functionality. And by moving to the distributed architecture of blockchain, these same business applications become infinitely less vulnerable to hacking and security breaches.
That’s right, the massive opportunity is the chance to protect business applications from their centralized ways. Make no mistake, being centralized is the reason business applications are so susceptible to security breaches, downtime and those pesky hosting costs that seem to be ever-growing.
Alright, so the distributed nature of blockchain provides a natural defense for these business applications. Great, but the reality of current blockchain protocols is that they lack both the functionality and the scalability to handle the most important aspect of modern business applications — the data.
But Dispatch’s solution to this problem is actually pretty ingenious. The Dispatch protocol extends the functionality of blockchain by integrating the management and distribution of off-chain artifacts, or programmable data on the private Dispatch Artifact Network (DAN for short).
The Dispatch blockchain is itself a shared ledger, growing linearly while the data managed by the chain can continue to grow exponentially. Dispatch enables the decentralized management of data storage as well, allowing for Dapps that build and run operations on the access, manipulation and distribution of that data.
Of course, at this point, some of you reading might be skeptical. “Okay, that sounds pretty good, but how do they manage to have that level of stability while maintaining efficiency?”
Well, Dispatch anticipated the potential for some transaction speed and size scalability issues, which is why they’ve implemented a variety of existing and new protocols. Dispatch actually uses Delegated Proof of Stake (DPoS) to establish a consensus, and uses the Dispatch Virtual Machine (DVM) to allow for the creation and execution of stateful programs using the blockchain’s shared state.
The DVM allows for the executing of the smart-contracts to handle artifact operations, and lets Dapp developers build apps that require the storage of data, as well as the running of operations on that data. That data is then stored within the DAN, which ensures node data management.
So where does this leave Dispatch as a platform? They’re a fundamental evolution in the way blockchain technologies function, as well as a testament to what those blockchain technologies are capable of.
Dispatch’s architecture facilitates many use cases that are simply not possible with existing blockchains. Think of the possibilities. Content Delivery Networks, streaming services, peer-to-peer marketplaces…the list goes on and on. As a decentralized network where Dapp developers and individuals can sell, distribute or store files, content, data, and information, it’s easy to see why Dispatch look like it’ll be the framework for future data intensive computational applications.
First you have to consider how impactful it will be when hundreds of business applications end up storing their data using Dispatch. The shift is inevitable, simply by virtue of it being so much safer than a centralized security system. That vulnerability is Dispatch’s opportunity for some massive disruption. Not only has Dispatch been able to offer the benefits of blockchain, they’ve actually managed to facilitate the process to such a degree that businesses would be foolish not to protect their data using Dispatch.
What new ways would you like to see blockchain’s utility expanded?
The author has had a working or personal relationship with one or more companies mentioned in this article in the past. Access to mentioned company’s management and information was made through the author’s personal network. All information was vetted prior to posting.
This essay is not intended to be a source of investment, financial, technical, tax, or legal advice. All of this content is for informational purposes only.