Xiden developer shifts gears from blockchains to drivetrains
CryptoDATA Tech, which develops hardware and software cybersecurity solutions based on blockchain technology, was announced as the title sponsor of the MotoGP Austrian Grand Prix in 2022, 2023 and 2024. CryptoDATA Tech will take top billing at the Red Bull Ring - Spielberg. The event has been officially renamed CryptoDATA Motorrad Grand Prix von Österreich. CryptoDATA Tech will sponsor MotoGP rider Jorge Martín.
"We are incredibly pleased to start our partnership with Dorna Sports as we become the first Romanian company to take over title sponsorship for Grand Prix events,” said Ovidiu Toma, co-founder and CEO of CryptoDATA Tech. “We share their commitment to innovation, and we want to show that blockchain technology can power positive initiatives for environmental change, for people, and for the motorsport community on and off track, as it represents one of the most transparent and secure technologies with high applicability in various fields outside the crypto sphere.”
Connecting people by connecting devices
The company enters the high-stakes world of motorsports in the latest chapter of its innovations in distributed ledger technology. CryptoDATA’s Xiden blockchain introduces a new, low-energy way of crypto mining, and one that is consistent with its security-oriented mission.
If blockchain technology is to continue thriving, it must keep up with the exponential growth in tech development. The crypto space is often called the “internet of value” and it needs to catch up to the internet of things (IoT). That’s why Xiden’s basic infrastructure is intended to grow in tandem with the IoT.
Rather than relying on one form of consensus algorithm, Xiden employs three: proof-of-stake, proof-of-connectivity and proof-of-existence. Respectively, they ensure that all validator devices conform to standards, that they are properly deployed and that each transaction is accurately signed and time-stamped. Tellingly, the high-energy consumption proof-of-work consensus algorithm is not used, as can be seen in both the Xiden light paper and white paper. Instead, the native XDEN token, which complies with all relevant Ethereum standards, is mined with CryptoDATA-developed IoT devices. XDEN is already listed on four exchanges: BitMart, WhiteBIT, DigiFinex, and Latoken. Furthermore, Xiden’s eco-friendly Smart Distributed Resources layer gives users the opportunity to boost their mining power by providing a decentralized architecture network to which they can connect all their smart devices.
Flattening the world
Edain, an AI-powered knowledge-creation ecosystem, is the first project developed on the Xiden blockchain. Its purpose is to “make knowledge accessible to everyone; a ‘flat’ human knowledge-sphere, essentially.” The Edain team’s shared vision is one of providing equal access to knowledge in order to eliminate gaps, thus empowering all human intelligence to cooperate in problem-solving. This is realized through the development of software applications, called knowledge apps, that process and analyze raw data in order to extract knowledge from it. In order to facilitate this vision, Edain has also developed EAI - the utility token with which anyone can access the knowledge apps. At this time, EAI is listed on the same exchanges as XDEN: BitMart, WhiteBIT, DigiFinex, and Latoken.
Two software applications have been developed so far in this ecosystem:
These integrate multiple indicators to analyze projects available in the market using state-of-the art NLP (natural language processing) and AI technologies. Xiden’s decentralized computing power and storage capacity is used in executing the transactions necessary for users to access the ecosystem.
Through the Xiden project, CryptoDATA promotes digitization and the creation of innovative tech projects and invites developers to create their own projects on Xiden to meet the needs of as many individuals as possible worldwide.
"At CryptoDATA, we develop high-performance technologies and services based on blockchain attributes to bring tomorrow’s technology today,” Toma said. “Technology and innovation are at the core of what we do, which strategically aligns with the sport of racing, and together we will create amazing experiences at the intersection of digital technologies and MotoGP."
CryptoDATA Tech is a global ambassador for promoting the importance of data security and digital privacy worldwide. The company has pioneered the development of services and products based on blockchain technology that enables private and secure communication between users and, therefore, between motorsport fans. Starting from the premise of discovering digital privacy, CryptoDATA Tech provides cyber solutions without restrictions for traveling users who want to protect their personal information by providing them with devices and applications that offer enhanced digital security.
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