Rockchain aims to combine your private data and the Ethereum blockchain together in a rock solid way. Find out how it works in our review.
What Is Rockchain?
Rockchain, found online at Rockchain.org, enables distributed applications on the public blockchain to perform calculations, collaborate, and use machine learning based on local private data.
In other words, it’s a connection between your private data and the Ethereum public blockchain in “a rock solid way,” explains the official website – which is where the name Rockchain comes from.
The Rockchain ICO began on November 1 and is scheduled to last until December 1.
How Does Rockchain Work?
The main goal of Rockchain is to solve the public blockchain isolation from rich data. To do that, Rockchain created a distributed file system on which every node opts-in for data sharing authorization or logical rules execution access rights.
Rockchain defines advanced privacy rules to allow only computation results to be publicized. While the blockchain is the “orchestrator”, Rockchain acts as the link between rich data and the public blockchain.
Overall, this makes Rockchain a distributed data intelligence platform. It connects to local data stores and performs map reduce operations on structured data. The end result is the creation of secured and auditable computation resources on a distributed network with no central ownership of computation nodes.
The platform comes with two general algorithms built on distributed architecture, including:
The Mapreduce Algorithm: This algorithm identifies relevant data on distributed data nodes and optionally reduces the data (performing aggregations such as count, average, or a custom function).
The Event Correlation Algorithm: Event correlations can distribute time-based logic in a distributed network, correlating data events on several nodes in a predefined sequence.
Uses For Rockchain
Obviously, the descriptions above are very technical, and the Rockchain whitepaper is difficult to understand for those without in-depth knowledge of blockchain technology. For a clearer understanding of what Rockchain is and how it works, let’s look at some of the use cases.
Rockchain’s use cases can be broken down into three categories, including Automatic Collaboration Between Companies, Ecosystem & Governance, and Privacy-Centered Applications for Consumers.
Automatic Collaboration Between Companies
- Shared R&D co-investment programs
- Consortium data governance
- Internal data flow governance
- IT infrastructures, including distributed datalakes and access rights on remote data flows
- Microservices, including invoicing on data facts
Ecosystem & Governance
- Health services ecosystem, including DNA file analysis, medical imaging, and biofeedback measures
- Financial data regulation, including risk measures without revealing financial strategies
- Advertising like peer to peer advertisement networks
- Business intelligence on Ethereum
- Distributed machine learning
Consumer Privacy-Centered Applications
- Privacy-strict social apps dating sites with privacy-preserving matching, for example, and the ability to search on-demand for blog content)
- Privacy preserving robo advisors (including advisors for loans, mortgages, personal savings, health, online gaming, and more)
- Media content distributions that want to define their own pricing model and govern their audience
Rockchain has already been used by a UK startup called Genomes.io, which performs DNA testing without revealing the DNA sequence.
Who’s Behind Rockchain?
Rockchain is led by Sebastien Jehan (CEO and Inventor of Rockchain). Jehan is a serial entrepreneur with a background in building complex international IT systems (mostly for banks). He has focused his career on Ethereum since 2015. Prior to Rockchain, Jehan was known in the blockchain community for building Ledgys.io.
Jehan is supported by a team of developers and blockchain specialists.
Early development of Rockchain took place during the first half of 2017, with the whitepaper released in June. By Q3 2017, the ICO contract was released, and the ICO is scheduled to be completed before the end of November 2017. The alpha release of Rockchain is scheduled for Q1 2018.
Rockchain is being developed by Lambda Vision SAS, a France-registered company.
The Rockchain ICO
The Rockchain ICO began on November 1 and ends on December 1, 2017.
During the ICO, 1 ETH = 1,000 ROK. The company is seeking to raise a minimum of 18,000 ETH through the token sale, with a hardcap of 100,000 ETH. KYC is required for those buying more than 3 ETH of ROK tokens.
Proceeds of the ICO will go towards developing Rockchain technology (76%), while 12% will go towards the development of Rockchain applications.
Rockchain Conclusion
Rockchain aims to create an ecosystem for private data usage on the Ethereum public blockchain. It aims to combine public blockchain technology with private data in a “rock solid” way.
To learn more about Rockchain, visit the organization online today at Rockchain.org. The ICO is taking place until December 1.
