Centrality — Bringing together the essential ecosystem for Decentralized Applications
Internet is vital to our daily lives, and every application that we use on our daily basis lies on top of the internet. Back in the early days, the internet was slow and sluggish, and even a small message would take hours and hours to deliver. Bandwidth was very expensive, and video streaming was considered a luxury which was only available to huge corporations.
If we look back, the reason why internet grew so much is because of the rapid development in applications and services on top of the internet. Companies came forward and launched innovative operating systems, softwares, tools and technologies that helped foster and accelerate the growth of application development.
Internet laid the foundation of new business models, notably Infrastructure as a Service or IaaS, where large corporations like Microsoft, Google and Amazon allowed smaller companies to ‘rent’ their servers from a large pool which not only reduced costs but it accelerated the growth.
Lets say you want to build a website these days. You can just buy a cheap hosting server, install WordPress, set up a theme, map your domain name and you are ready to do. The server is owned by another company, WordPress is also a product of another company that you are using to build your website upon, you purchased a theme from another vendor, and you purchased a domain name from an online vendor which manages your domain ownership.
We can think of all these things as ‘applications’ which you used to build your website. These applications together helped you accelerate the process of making a website at a very affordable price. All of these applications and tools are built for the centralized internet, but when we look at blockchain and its decentralized ecosystem, we rarely see them!
Centrality is a multi-purpose blockchain platform aiming to bring traditional applications and tooling to the blockchain world, so people could make decentralized applications quickly and easily. Right now, the decentralized applications that are built on many blockchain platforms are all consumer focused, meaning that they serve a ‘consumer’ utility.
Unlike the traditional internet, we don’t have proper applications and tooling that decentralized applications can use. If you want to add things like token generation facility, identity management, wallet integration, etc. into your DApp, you have to build everything from scratch. There is no service, application or tool which you can use that does it all for you!
Centrality aims to change that, by bringing a wide array of applications and tools that DApps on any blockchain platform can use. It will not only accelerate the development process of DApps, but will also help cut down major development costs. The diagram below illustrates clearly what Centrality actually is!
According to their CEO and Founder Aaron McDonald, “We believe in creating a world where applications can help each other scale and work together in a cooperative way. Think of it as a thousand Zebras, running in a herd against the competition, rather than one unicorn”.
Centrality platform has their own native token called CENNZ whose purpose is to represent a stake in the Centrality mainnet (which is called CENNZnet). As of October 2019, a single CENNZ is traded at $0.078 USD and has surpassed a total market cap of $63 million USD. The current circulating supply stands at 1.2 Billion CENNZ tokens.
The past trajectory of CENNZ has been great and they are actively making partnerships with many companies and exchanges around the globe. We recommend CENNZ to anyone who is looking to have a token backed by innovative use case of the future, instead of just a utility.