DeltaHub Capital Investment In Ruby Protocol
The present internet business strategy is almost entirely dependent on personal data monetization. As we reach the web 3.0 era, many individuals are feeling the need to retake control over their data. This is where Ruby Protocol, a privacy-centric Data Monetization Framework for DeFi and Web3.0 powered by Polkadot, comes in, and DeltaHub Capital is excited to join Ruby Protocol in their noble endeavors.
The Ruby Protocol proposes and implements a privacy middle-layer that communicates with multi chains. It is a fine-grained private data access-control gateway that connects various entities and organizations in both the decentralized and traditional financial worlds. It will be the genuine expression of the crypto movement’s decentralized ideology, built on functional encryption. All encrypted data will be kept in a decentralized cloud like IPFS. To meet the privacy concerns of users, decentralized functional encryption will be used.
Structure of Ruby Protocol
The marketplace’s architecture must incorporate Fairness, Transparency, Privacy, Security, and Regulation. Ruby data structures are made up of the five components listed below:
Functional Encryption: All user data will be saved and computed using a fine-grained functional encryption technique.
Data Marketplace: A solution for how all entities will participate in data trades and deal-making.
Data Copyright Protection: To maintain the effectiveness of the data marketplace, a data copyright protection is established to assist ensure data owners’ copyright.
Data Pricing Model: It assists data owners in developing a sensible pricing and monetization plan, which is critical.
Review System: A review system is designed to assist owners in making better decisions when purchasing data from data owners.
Key Features of Ruby
The following are the primary benefits that the Ruby system will provide:
Fine-grained Data security: The access control strategy will be well-defined and tailored to specific application circumstances. An excessively broad access control policy may render it ineffective in practice since it may leak too little information about the users. An excessively detailed access control policy, on the other hand, will expose too much of the users’ sensitive information. As a result, Ruby protocol stakeholders will update the policy management standard on a regular basis to keep up with the demands of real-world use cases and the most recent regulations.
Data quality and source assurance: Ruby ensures that the data comes from the correct source and is of the highest quality in the sense that it is not only legitimate but also up to date.
Policy updateability: Because regulations and access control policies are always changing, the Ruby system is flexible and updateable, allowing any programs that rely on the policy to alter quickly when the policy changes.
Revocability of attributes and policies: Because the attribute value or policy for a secret key may change over time, we should provide a way to revoke the associated secret key.
Multiple Use Cases: Ruby may be used as a fine-grained access control for data flow in a variety of application situations, including a private data exchange platform across TradFi, DeFi, and NFT gated access control.
RUBY Tokens and its Use Cases
The RUBY token is the Ruby Protocol’s native token. It will be utilized for the security of the Ruby Protocol chain, as well as the creation and incentives of the data transaction market.
The RUBY token can also be used in the following ways:
1) The RUBY coin is the Ruby network’s fuel. All linked transactions on the Ruby chain will need the use of the RUBY token as a commission.
2) RUBY tokens have genuine use values in the Ruby Data Marketplace’s data upload, storage, transaction, promotion, and so on, which will strongly motivate users to keep them.
3) 70% of RubyDAO revenue will be utilized for secondary market buyback and burning, lowering the inflation rate of RUBY tokens. The entire system may even be deflationary.
4) When making an on-chain proposal, members of the community must stake a specified quantity of RUBY coins.
RUBY Social Media Channels
Website: https://ruby.io/
Twitter: https://twitter.com/RubyProtocol
Telegram: https://t.me/rubyprotocol
Discord: https://discord.gg/rubyprotocoll
Medium: https://medium.com/@rubyprotocol
GitHub: https://github.com/Ruby-Protocol
Stay tuned for more updates through the DeltaHub Community Channels
Website | Twitter | Medium | Discord | Telegram | Rarible | Opensea |
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