IPSX Update: Development of IP Exchange Progressing Well, Says CEO
IPSX – a decentralized exchange for sharing of IP addresses announced the development of its trading engine, which enables automatic matching between IP requesters and providers, on May 7, 2018. The update came in the form of a Medium post authored by IPSX CEO Bunea. In his post, he talked about the work that he and his team had done so far on the IPSX project and provided a glimpse of what the team is working on next.
Positive May Launch
George Bunea provided some key insights on the platform and stated that the development of the iOS mobile client was now in its final stage. The service’s REST API is also successfully running for anyone to query. The API is significant for the growth of IPSX as it will enable third party applications to integrate with the platform.
IPSX, which aims to let users lease unused IPs for accessing the web, is a needed solution for data centers. As such, the announcement concluded positively that “DataCenter nodes development is also advancing well.” Once the development phase is over and a beta rollout is done, it will enable these data centers to share their unused IP addresses with requesters.
IPSX also launched a testing program for early users on April 27, 2018. Users that enrolled for the program will receive 250 IPSX tokens with more tokens being promised to testers that report complex issues. Since the key to growing any platform is to draw in more users via word of mouth, the company announced a referral program.
The campaign is showing positive results as people are using referral codes generated by other users to join the platform. A marketing campaign aimed exclusively at the Chinese market also launched on May 7, 2018. IPSX is working with media campaigner DNA to develop a detailed and compelling marketing story.
The Future of IP Exchange
Lelia Gaes, IPSX COO, met top EU officials at a blockchain conference she attended in April 2018 While the conference focused on NEO, the event was a great place to make new business relations. Gaes reportedly met with key EU officials and interacted with them about their views on legal issues surrounding cryptocurrencies. More importantly, IPSX aims to become complaint with the GDPR rules by as early as May 25, 2018.
IP Exchange is a decentralized IP sharing platform and a framework for building applications, on top of the IP sharing layer. IP Exchange was conceived as a solution for a number of problems that its co-founders identified in the process of sourcing IP addresses for GeoRanker – a Data Mining Platform. Some major hurdles for the current model of sourcing IP addresses with the purpose of data mining are: low level of liquidity of good quality IPs, centralized providers that lack specific filters for selecting specific IP addresses and high prices associated with large volumes of IPs.
The data mining process requires a large volume of IP addresses to repeatedly perform a given task. If the cost of obtaining IPs is lowered, the overall cost involved in data mining operations will also drop significantly.
IPSX will be a peer to peer blockchain based marketplace that will enable data centers and individual users – known as providers – to lease their spare IPs to other users – or requesters. Since IPSX is built on top of the Ethereum blockchain, payments between the requester and provider will be managed by a smart contract.
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