Redefining Blockchain Consumption — An Introductory Overview of NTO Protocol
Consider how data transfer and communication is made possible over the internet, and how this enables the networks we have today. It has served well the demands from our need to communicate, and transformed the way we profile and interact with one another.
Introducing Novum Trust Order (NTO) Protocol
The reason for reminiscing about the history of data communication is because our brainchild is meant to be a communication protocol equivalent for blockchain data and information. The NTO protocol is here to set a standard, if not lay the foundation, for the way in which blockchain information is consumed. To facilitate the simplification of the end-user process, the application Moonwalker is developed in tandem as the interface for users to interact with the features of the protocol.
If you are not familiar with technical things like “protocols” and the above is a little too much to digest, think about this: Protocols are a set of rules for communication. Like language, protocols allow a flow of information and understanding. Communication helps to surface issues faster, builds trust and productivity.
Like the Internet, a human-based decentralised structure that has scaled to more than 4.39 billion users in 2019, blockchain is a decentralised, distributed database on a P2P network. Piles and piles of blockchain information is generated every day consisting of data from our interactions and transactions.
What is NTO Protocol used for?
Our mission is to introduce better organisation, greater clarity and accessibility to blockchain information available to the public. In other words, to provide an alternative framework that sorts and filters out the noise so that the average user can navigate blockchain with confidence and efficiency.
The community becomes adept in navigating the space, and in the process develops ways to better police or build on the system, or even utilise blockchain data more meaningfully.
NTO Protocol is also big on building trust, as its name suggests. The protocol provides a means to create accountability and trust in the form of reputation (or ‘Authority’). Some have described blockchain as a ‘trustless’ system, where its users do not need to know or trust each other or a third party for the system to function. Regardless, we recognise that people are more comfortable transacting with those they trust or are reputable, and we want to pave the way to cultivate this in the blockchain space.
Why is NTO Protocol relevant?
Blockchain is a promising technology with an increasingly widespread business interest, given its capacity to optimize business processes, reduce costs and fraud. In Blockchain 50, Forbes claims more than 100 big companies actively explore blockchain, and out of which their list features 50 companies operating in the U.S. with minimum revenues or valuations of $1 billion.
With extensive applicability in numerous verticals, concerns with usability, trust, regulatory compliance, and other uncertainties surrounding the technology are inevitable. We are working towards creating a more conducive blockchain environment, using NTO Protocol and Moonwalker as the first steps. We want to provide much-needed accessibility in this territory with the end user’s needs as priority.
NTO protocol was not created to outrival existing solutions but rather to co-exist and supplement gaps by introducing something moderately different, capable of being integrated across various platforms. As a single searchable place with tools built for the average consumer to help projects and enterprises alike.
If you share an interest in blockchain and identify with the same mission and vision, connect with us and let’s forge a more organized and reliable blockchain community together. Join us on Twitter, Facebook and Telegram.
