Substratum takes the advantages of decentralization and aims to apply them to the web as a whole, providing an open-source network that can lead to a free and fair internet. Anyone who wants to can allocate some of their extra computing resources with Substratum to participate in the network and can be paid in cryptocurrency every time they serve content. A decentralized internet can help with some of the problems which are being faced, namely the attack on net-neutrality and censorship around the world.
Why Is Substratum Necessary?
With Substratum, users will not have to worry about freedom, censorship, or net neutrality. Without Substratum, users have no control over the internet, but this network puts it back in our control. On Substratum, all applications and websites have the same opportunity to send their messages, a sharp contrast to traditional methods of accessing the internet, particularly now with the fall of net neutrality in the United States. Even when net neutrality was in place, Substratum served as a backup to ensure that no single entity was in control of content visibility.
How Does Substratum Work?
Instead of requiring a Tor or VPN, the Substratum Network is made up of nodes from around the world to securely deliver content. Anyone can use Substratum Host to host applications or websites and pay the network users who serve the content.
The Substratum Nodes send content between the hosts and the web users. When you run a node, you receive Substratum cryptocurrency as payment for forwarding the content. Finally, those who view content hosted by Substratum are able to access the pages or applications on their favorite web browser without any censorship blocks.
What Are the Other Key Components of the Substratum Network?
As mentioned, the Substratum Nodes allow users to forward content sent by hosts and receive payment in cryptocurrency. The Substratum Host is used by anyone who wants to host an application, database, or site on the network. In addition to those previously mentioned components, Substratum features one-click software with an intuitive and simple interface, so users can easily get started. It also has artificial intelligence that can find the ideal node to maximize the speed with which the content is served for the end user.
To improve the process of developing applications and more on the Substratum Platform, the system includes an SDK and API. There is also custom-developed compression technology that reduces latency as much as possible. The cryptography in place is highly advanced to ensure the security of all data within the network on its entire journey between ends. For added security, a single request can be filled by multiple nodes, splitting up the data. Finally, CryptoPay makes it possible for websites within the Substratum Network to process any cryptocurrency payments made with publicly traded coins.
Can Anyone Use Substratum?
The average person can certainly navigate the internet or use a smartphone or tablet, but they may have doubts about their ability to run it. Substratum is designed specifically to make it easy to run the internet. Each tool was created with user friendliness as one of the primary goals. There is also no knowledge or effort required to run nodes, as they do so independently and behind the scenes, so you can keep using your browser of choice while earning Substrate tokens.
Visitors to pages and applications hosted by the Substratum Network will not know the difference, except for the lack of censorship. These websites are viewed just like any other without the requirement of downloading software or installing plugins.
What Are the Financial Benefits of Substratum?
Those who choose to run Substratum Nodes can earn money via microtransactions while they sleep or do something else, an incentive that will help the system grow while providing income to those who support the network. Those in search of hosting services will also experience benefits due to the streamlined payment model. By relying on cryptocurrency microtransactions, publishers only have to pay for the requests that are processed, instead of a general fee or a set amount for a time frame. This way, you only pay for the amount of hosting that you actually use instead of uptime, keeping costs proportional to your page’s popularity.
What Is Substrate?
The token behind Substratum is Substrate, which is represented similarly to dollars and cents as a whole number followed by two decimal points, referred to as substrate and atoms. Substrate is what companies who want to host use to pay for services and what those with Substratum Nodes receive as payment.
For example, if someone wants to host a page within the decentralized web, they would buy Substrate with fiat or cryptocurrencies. They would then pay the member of the Substratum Network who runs the node used to serve the content, using that Substrate they already purchased.
Substrate is also the intermediary used for transactions via CryptoPay. That system lets shoppers pay with whichever cryptocurrency they prefer. From there, Substratum converts it to the preferred currency of the host via Substrate.
How to Store SUB
SUB is an Ethereum ERC-20 token which means you can store it in any wallet which supports Ethereum such as MyEtherWallet or a hardware wallet like a Trezor or Ledger.
How to Buy Substratum SUB
You are not able to purchase SUB with “Fiat” currency so you will need to first purchase another currency – the easiest to buy are Bitcoin or Ethereum which you can do at Coinbase using a bank transfer or debit / credit card purchase and then trade that for SUB at an exchange such as Binance.
Register at Coinbase
For first time buyers of crypto currency, we recommend that you use Coinbase to make your first purchase – its easy to use, fully regulated by the US government so you know it is one of the safest and most reputable places to purchase cryptocurrency from. Coinbase offers the ability to purchase Bitcoin, Litecoin and Ethereum with a credit or debit card or by sending a bank transfer. The fees are higher for cards but you will receive your currency instantly.
You will have to carry out some identity verification when signing up as they have to adhere to strict financial guidelines. Make sure you use our link to signup you will be credited with $10 in free bitcoin when you make your first purchase of $100.
To get started, click the “Sign up” button where you will be taken to a registration form where you will need to enter your name, email and choose a password.
Purchase Ethereum
For this guide, we will be purchasing Ethereum to swap for our target cryptocurrency. The reason for this is that it has far cheaper fees than bitcoin for sending and the transaction also happens a lot faster. So in Coinbase, visit the “Buy / Sell” tab at the top, select “Ethereum”, choose your payment method and enter the amount you wish to purchase – you can either enter a US Dollar amount or a number of Ether.
You will then be asked to confirm your transaction, if paying with a card you might have to complete a verification with your card provider. Once that’s complete, your Ethererum will be added to your account.
Purchase SUB at Binance
You can now send your Ether over to Binance to make your purchase of SUB, take a look at our review of Binance here to see how to signup and purchase on their exchange.
What Has Substratum Accomplished?
Substratum was founded back in February 2017, which is also when the MVP was rolled out and the company was introduced. By July, the whitepaper and website V1 were launched. The ICO token sale took place in August, raising more than $12 million USD. Later that month, V2 of the website launched. In September, the SUB token appeared on exchanges, including Tidex, Etherdelta, and Coss.io. In October, it was added to Binance, and the Ohio office opened. November included the addition of SUB to KuCoin and Private Alpha Test I, which was completed with a 100 percent success rating globally. Finally, in December, the second Private Alpha Test happened, and the website V3 launched.
Conclusion
Substratum is a logical extension of the trend of decentralization and one that can have very important benefits for users around the world. For years, governments have censored specific types of information, and with the recent fall of net neutrality in the United States, websites will begin to be treated differently on the traditional web. Substratum offers a solution to these problems by allowing a truly free internet. Thanks to the rewards offered to those who run Substratum Nodes, it should have no problem growing and providing enough computing power to serve user demands.
