You may have noticed this six-month old digital currency skyrocketing up the crypto charts. The Pillar coin has added a whopping 375% to its price in just the past month. At the time of writing, it is trading at $1.53. In the first week of December, it was trading below 20 cents. There must be something to Pillar (PLR) if investors are getting so pumped about this up-and-coming altcoin.
Well, there is certainly a lot of potential behind this coin, and it goes well beyond the generic and overcrowded world of decentralized application (dApp) platforms in the cryptocurrency space.
What is the Pillar coin all about?
This is a blockchain-based platform that launched on the Ethereum (ETH) network. It is all about our personal data. This is what they say on their website about their concept:
We want to get rid of old ways of thinking applied to new technology. While most people are busy building decentralized apps, we questioned the idea of apps in general and decided it was time to go in a new direction.
Pillar (PLR) is developing a platform where individuals can have direct control over their own data. Thanks to decentralized technology nowadays, this is something they can achieve.
What do you mean control my own data?
These days, major corporations like Google and Amazon own a lot of data about our individual lives. The pillar coin platform imagines a different world than this one – a world where we have absolute control over our data and who else can manage it.
Rather than the completely disjointed network where our data is spread out all over the globe in different places, Pillar (PLR) will put you at the center of it:
Imagine being able to turn on and off corporate access to your own data. It seems like a concept that is a little far off from the present, but personal data ownership is a concept that is catching like fire. Especially as decentralization gets more and more demanded in our society, we will expect more rights when it comes to our own data.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.