What is Nevermined Platform | What is Nevermined token

In this article, we'll discuss information about the Nevermined Platform project.

Nevermined is the missing link for Web3 to become decentralized and interconnected once and for all. Allowing companies to integrate with multiple providers on a single network for speed, reliability, and decentralization to keep innovating towards an infrastructure that can handle mass adoption in the years to come.

There are many ways to commercially leverage Nevermined, including building digital ecosystems geared towards web3 as well as fulfilling specific functions pertaining to governance and tokenization dynamics. These commercialization techniques can be applied at varying levels. Our strategy is to deploy Nevermined in an intra-organizational setting where internal, disparate business units monetize their assets across verticals, chains and entities. This inter-organizational approach within consortium-controlled or open networks will permit non-affiliated actors to share and trade their assets.

Nevermined is a Web3 decentralized infrastructure provider with a mission to enable greater tokenization and web3 integration possibilities via easy development of data sharing and remote computation mechanisms. Nevermined enables a “Data in situ Computation” solution, meaning that enterprise or infrastructure data remains static whereas the algorithm is flexible to make up for that. It allows data owners or providers to define the conditions for sharing, accessing and using their data without giving direct access to it.

Nevermined simplifies the Web3 transaction lifecycle and, more specifically, the transactions that take place in the pre-chain layer, making each stage clear and transparent in Big Data environments. It enables monetizing the data without migration – from connecting the wallet of choice, and automating sending funds to the right network and address, to composing or pricing a transaction correctly so Dapps, exchanges, wallets, protocols, networks, and bridges can interact seamlessly. It’s also designed for GDPR compliance, never storing any personal information on-chain (encrypted or in plain text).

Introducing a Standard Model for the Web3 Process Lifecycle

Blockchain technology gives users the freedom to transact in ways that have previously not been possible. Rather than rigid transaction rules defined and enforced by centralized institutions, Web3 enables truly programmable transactions with possibilities bounded only by developer imagination and creativity.

At Nevermined, we approach the Web3 transaction lifecycle with several critical building engines that allow enterprises and developers to create, integrate, manage and maintain:

  • Digital marketplaces with a full framework for payment processing, digital asset registration, listing and minting, secondary market trading, royalties distribution, and NFTs-as-collateral functionality.
  • Tokenization engine for a broad array of NFTs that facilitates the launch, distribution and integration of non-transferrable NFTs, proof of attendance NFTs, subscription NFTs, Login NFTs for decentralized access control and semi-fungible NFTs.
  • Decentralized Access Control mechanisms for easy deployment and maintenance of Nodes, smart contracts, bridges and data storage pools across a wide range of blockchains
  • Data Sharing framework for instantly connecting to any API endpoint of blockchains and protocols to supercharge enterprise wallet, CEX, DEX and other Dapps

Together, these components form the Nevermined-as-a-Service offering that allows us to become a critical infrastructure provider for the Web3 stack and blockchain integrations. We make data transferable and easily accessible while retaining security at the infrastructure layer to decrease dependence on centralized points of access, institutions and Nodes.

Nevermined’s model transitions enterprises and developers to more distributed and resilient systems reliant on blockchains and smart contracts where they can build and integrate Dapps, NFTs and smart contracts without unexpected downtimes, single points of failure, or threat of censorship.

Providing these services separately or as a whole turns Nevermined into a central infrastructure player in the Web3 space, facilitating growth and making all operations between different segments (decentralized gaming, DeFi, the metaverse, NFTs, blockchain, etc.) possible and seamless.

The infrastructure of Nevermined includes various public endpoints that developers and enterprises can use to access on-chain data, independent blockchains, program smart contracts and serve requests to mint and distribute NFTs in one globally distributed and decentralized environment.

Assets tokenization via NFTs

Nevermined combines all the tools developers need to build freely and connect seamlessly with an integrated NFT Engine. The platform offers solutions with a solid foundation in terms of tokenization of both expendable and non-expendable assets; as well as design and minting of NFT assets generating high-value propositions for enterprises and developers.

The aim is to give institutions and individuals a way to ensure total ownership of their assets while retaining full control over sharing, distribution, and sale on Nevermined’s marketplace and the secondary market.

Thanks to our tokenization process, a company or individual can convert their assets into ERC-721 or ERC-1155 digital tokens that can be tracked for life. It avoids any type of counterfeiting and allows the owner to collect royalties for each resale of the token, in the case of intellectual property, preserve the brand and expose it in metaverses, access new investment mechanisms, and obtain financing through the sale and rental of tokenized assets. Nevermined is a platform where digital and physical assets can be represented and traded between users openly, but keeping security, integrity, provenance and content creators attribution. The cross-chain NFT marketplace and customized smart contracts allow users to connect with blockchains, mint, trade and store NFTs in a secure setting.

The NFTs engine lets content creators register digital assets in the Nevermined ecosystem as well as create fractionalized NFTs representing the digital ownership of the content. In addition to this the NFTs engine allows content creators to:

  • Set the conditions for the distribution of these NFTs in the marketplace and the secondary market (price, token to make the payment, etc).
  • Define the functionalities, characteristics, adjustments and terms of the NFTs they release
  • Determine exclusive contents that can be accessed by NFT holders
  • Specify adjustable commissions and automatic deposit for royalties on the sale of collections in the secondary market
  • Ensure that interoperability, easy-to-use APIs, cross-chain conformity, and multi-platform support allow them to use NFT services in a secure setting.
  • List NFT tokens categorically to provide exposure to the business so clients can find and buy their desired ones with ease
  • Showcase NFTs and trade their assets, raise funds and get the best possessions at the best rates whilst simultaneously allowing for liquidity and trust in transactions.
  • Develop NFT tokens with customized smart contracts and verifiable ownership to be used in real estate, art, music, gaming, and many more fields.
  • Develop and market NFTs and help gain recognition by being a part of the NFT world.
  • Create NFTs on multiple blockchains and obtain seamless interoperability with speedy transactions, low transaction costs and customized smart contracts.
  • Bring decentralization, transparency, immutability, uniqueness, and authenticity to NFTs making them secure for enterprise use and ensuring that no breach of trust occurs.
  • Enjoy high security and scalability enabling businesses to launch themselves in the NFT and invest and raise funds effortlessly.

Data Sharing

In the upcoming evolution of the Internet of Things (IoT) towards Web3, it is anticipated that billions of devices, networks and ecosystems will be connected to the Internet. Many of these are capable of collecting information from individual users and their physical surroundings. They are also capable of taking smart actions, which are usually from a backend cloud server in the IoT system. While web3 aims toward a more connected and smarter world, this pervasive large-scale data collection, storage, sharing, and analysis raise many privacy concerns.

In the current web2 ecosystem, service providers have full control of the collected user data. While the original intended use of such data is primarily for smart IoT systems and device control, the data is often used for other purposes not explicitly consented to by the users.

Nevermined proposes a novel data sharing and storage framework that aims to empower users with full privacy control of their data. Our framework seamlessly integrates smart contracts, Data In Situ Computation, Federated Learning and Provenance based data integrity checking and verification in cloud environments for the use of Service Execution Agreements (SEAs) between parties.

The main actors in the ecosystem of Nevermined are:

  • PUBLISHERS - Provide access to assets and/or services
  • CONSUMERS - Want to get access to assets and/or services
  • MARKETPLACES - Facilitate the trading between Publishers and Consumers

By offering new mechanisms for sharing and securing data access and usage with smart contracts, Nevermined can allow data owners to control who can have what access to their data, and be able to maintain a trustworthy record of their data usage. Using remote attestation and Digital Asset registration and decentralized discovery (via DID), Nevermined ensures that data is only used for the intended purposes approved by the data owner. Our approach represents a significant departure from traditional privacy protections which often rely on cryptography and pure software-based secure computation techniques. Addressing the fundamental problem of data us- age control, Data In Situ Computation will become the cornerstone for the decentralized market of private information.

The data owner should not only be able to control who can have what access to his/her data, but also be ensured that the data is used only for the intended purposes. To realize the envisioned functionality of Nevermined, there are several key requirements:

Users shall be able to define their data access policy concerning who they share data with at what time for what purpose and at what price. The framework shall also support rich encoding of different data utilization conditions.

There shall be strict enforcement of the data policy set forth by the data owner. Each usage of the user data shall have verified proof that it is compliant with the policy and data content is well protected during the utilization.

Each data usage shall be recorded on a platform that offers non-repudiation and transparency.

Nevermined proposes a solution for data ecosystems with an alternative for tracking, managing and especially enforcing data sharing using smart contracts and W3C Provenance. We design a framework that generates smart contracts from parameters based on data-sharing agreements. Combining NFTs with integrity proofs, smart contracts and the W3C Provenance standard creates an unparalleled level of transparency in tracking assets and agreements through the supply chain.


How this works?

Most of the interactions between users of Nevermined requires the management of access control to digital assets. Simply put, this means that for something I own, I want to give you some permissions to do something under some circumstances. These are all parameters of which I control.

This conceptually is very abstract but is extremely flexible at the same time. It means that depending on the problem I want to articulate and manage, different access control possibilities can be supported support across any use case, including the following:

DATA SHARING: I have data, and I want to allow anyone paying me X amount to get access to my data.

Or:

ACCESS TO EXCLUSIVE CONTENT: I’m an artist, and for all my customers buying my art, I’m going to issue a Non-Fungible Token, or NFT that allows them to get access to new and exclusive content.

For example, in the drug shipping use case, the manufacturer may allow certain freight forwarders to access the manufacturer’s temperature gauge data embedded in the drug shipment.

In this case, access control would allow for accepted freight forwarders to access the data remotely to determine if the shipment’s temperature has gone above a certain threshold during the course of shipping.

Provenance

Provenance allows us to understand the context in which “something” was created, how it is used and by whom, and how ownership is transferred or delegated.

Nevermined implements internally a provenance track record that records all the relevant interactions happening around digital assets. Things like:

  • A digital asset is regitered into Nevermined by a user
  • NFTs attached to a digital asset are minted or burned
  • Service agreements are created and or executed
  • Assets or NFTs are accessed or used
  • etc

W3C Provenance specification defines, in a use case-independent way, how provenance can be registered and used. This, combined with the utilization of a blockchain network, provides a transparent and unique source of truth for data ecosystems.

For example, in the drug shipping use case, combining NFTs with integrity proofs, plus the W3C Provenance standard, creates an unparalleled level of transparency in tracking the shipment through the supply chain.

Remote Computation

Nevermined empowers enterprises by enabling computation in a frictionless manner as a real-time Web3 infrastructure provider. The Nevermined platform enables dynamic and secure data sharing through a combination of blockchain technology, Federated Learning, and on-chain computation.

With Nevermined’s Data Sharing capabilities, all actors can advertise their assets and monetize their data without having to move or change their existing infrastructure, thus becoming data providers. And Nevermined’s Data In Situ Computation (DISC) capability allows for consumers of the data (third-party actors) to run generic computations (inside the scope allowed by the data providers) without ever having to access the data directly.

This means that data remains private and static. This is achieved via a single-access interface that participants can use to access data from multiple, wholly distinct and independent organizations. All the heavy lifting of orchestrating a Federated Learning session spanning multiple organizations is handled by Nevermined. This means the Data Scientist or Data Engineer only needs to reuse his existing machine learning code and tools with little to no modification. Nevermined’s approach is two-fold: first is to show how smart contract-based models can be a very natural data exchange channel for federated learning. Second, leveraging this infrastructure, we can show how an intuitive measure of each agents' contribution can be programmed and integrated with the life cycle of the process that consists of 3 actors:

  • Coordinator: All the components required to perform the coordination of a Federated Learning session. The components provided by the main framework (coordinator + aggregator)
  • Participant: Component responsible for interacting with the coordinator and executing the machine learning task over the data.
  • Federated Learning Session: The time from setup of the coordinator to the successful execution of the machine learning plan. Typically this involves coordinating the participants for a finite number or rounds and then storing the resulting model

Use Cases

When sharing data is not an option because of privacy constraints, permitting an algorithm to compute on a data set you can’t see is a rational alternative. There are many different possibilities and technical solutions for this depending on the computation being executed, like a simple aggregation or a fully-fledged analytics process using Spark or similar, as well as the privacy constraints of the data.

To deliver this type of sophisticated solution involves the orchestration of computation techniques, Federated Learning, and on-chain computation. What pattern is leveraged depends entirely on the use case.

What is important is to understand the use case, what limitations or requirements are implied, and how to enable computation in a frictionless manner.

For example, in the drug shipping use case, being able to orchestrate temperature threshold calculations across numerous providers’ datasets could help flag a problem with the shipment before it becomes a problem. However, knowing which dataset provided the flagging information could be kept private through aggregation techniques, etc. This type of capability could limit the risk exposure of any given data provider within the supply chain.

Example in action: Credit Card fraud dectection

In this example we are going to allow the training of a Credit Card Fraud Detection model on top of private data of different banks without moving this data around. Nevermined allows to achieve that via Federated Learning orchestration.

One of the biggest traditional problems is when we try to train a model and we don't have enough amounts of data. In our example imagine we have two banks: Bank A and Bank B. Both of these banks have large amounts of credit card transactions that they aren’t really leveraging for machine learning purposes because they either lack the data science expertise or they are afraid of the penalties that may arise from mishandling the data under data protection laws.

Now we introduce a third party: a Data Scientist. The Data Scientist wants to build a service that can automatically flag fraudulent credit card transactions with a high degree of accuracy. Knowing the typical features that should be present in every credit card transaction, he already built a model using scikit-learn.

Now the biggest challenge becomes getting access to real data so that he can use it to train the model to be able to make predictions with a high degree of accuracy. Banks won’t and can’t share this type of data with third parties, so the data scientist hits a roadblock.

Currently, there exists the capability to perform privacy-preserving machine learning through Federated Learning. Federated Learning can be seen as a form of privacy-preserving distributed machine learning. A machine learning model is trained in parallel over multiple data sets. The individual weights resulting from the training over each dataset are then aggregated in a privacy-preserving manner and this produces the final trained model.

However, orchestrating this type of analytical application is difficult. Orchestrating this type of analytical application across disparate datasets controlled by independent counterparties is virtually impossible.

To summarize our use-case:

  • We have a data scientist that requires a large amount of private data to train a model
  • We have two distinct banks, Bank A and Bank B, with their own distinct infrastructure and data assets, and they would like to monetize their data ** We need a system that allows for: interoperable data sharing between multiple parties; data monetization; an interface to run code spanning multiple organizations

How Nevermined helps to resolve this

With Nevermined’s Data Sharing capabilities, both Bank A and B can both advertise their assets and monetize their data without having to move or change their existing infrastructure, this turning them into data providers. And Nevermined’s Data In Situ Computation (DISC) capability allows for consumers of the data, like the Data Scientist, to run generic computations (inside the scope allowed by the data providers) without ever having to access the data directly.

This means that private data remains private as it does not need to move. Now the Data Scientist has a single interface that he can use to train his model over data from multiple, wholly distinct and independent organizations. All the heavy lifting of orchestrating a Federated Learning session spanning multiple organizations is handled by Nevermined. This means the Data Scientist only needs to reuse his existing machine learning code and tools with little to no modification.

Digital Assets Marketplaces

Nevermined’s Marketplace framework facilitates the usage of data ecosystems via a bespoke data catalog / marketplace that allows integration with existing tools within the organization. This gives organizations a direct venue for the sale and distribution of their NFTs as well as access to a global community of artists and fans.

This Generic Marketplace solution supports the registration, search and discovery of assets across multiple organizations. Our NFT API lets users instantly find, verify, and display any NFT, across all major blockchains.

Organizations can access the blockchain with Nevermined’s continually expanding Enhanced API suite, and web3 developer tools. This includes querying NFTs by the user, tracing transactions, getting real-time notifications in your dApp, debugging smart contracts faster, and doing more with our supported endpoints.

The NFT API supports all NFTs made with the ERC721 and ERC1155 standards. Using the Nevermined NFT API allows companies to both fetch and display NFTs for their users, making it easy to build all kinds of NFT collections.

Grabbing NFT metadata usually requires developers to read and parse individual smart contracts, then sort through a sea of irregular data. Nevermined API standardizes the data, making it easy to query across different projects.

The NFT API allows users to quickly get all the information they need to know about NFTs from the blockchain. Rather than searching, indexing, and storing data themselves - users can now make one request to fetch specific NFT information for both ERC-721 and ERC-1155 tokens, like:

  • All NFTs owned by an address
  • Metadata and attributes for a specific NFT token

Getting historical transactions is currently an extremely challenging and inefficient task, requiring users to scan the entire blockchain and index everything to search for transactions associated with the desired address. Nevermined provides a set of functions for tracking address activity, mined transactions, dropped transactions, and prices on multiple blockchains. With that objective in mind, the specification of the Nevermined NFT API supports the following capabilities:

  • Assets Management - Creation, Update, Deleting, etc. This is based on the existing Metadata Spec
  • Assets Search - Allowing the search and filtering of assets
  • Users Profile - Allowing to create, update and delete users
  • Secondary Market - Registering the negotiation of parties during a secondary market purchase
  • NFTs Metadata - Recording the metadata associated to an NFT
  • NFTs Drops - Management of NFT drops
  • User Reviews - Allowing users to comment and rate marketplace contents
  • Drops - Managing of NFT drops
  • Bookmarks - Allowing users to save bookmarks about different assets

The goal behind Nevermined’s NFT API is to help enterprises and developers deliver incredible Web3-enabled experiences for users. By introducing a simple unified API we plan to take away some of the complexities of blockchain technology, bringing one of the most powerful use cases in Web3 to everyone.


How and Where to Buy token?

You will have to first buy one of the major cryptocurrencies, usually Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

☞ SIGN UP ON BINANCE

Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase token from the exchange.

Top exchanges for token-coin trading. Follow instructions and make unlimited money

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🔥 If you’re a beginner. I believe the article below will be useful to you ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner

🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

I hope this post will help you. Don't forget to leave a like, comment and sharing it with others. Thank you!

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