Measurable Data Token (MDT) is a project that aims to create a data economy thats allows users to share, exchange, and monetize insights for incentives. As a decentralized data economy, Measurable Data Token focuses on making data trading more ethical, consent-driven, and transparent. The unique trading ecosystem leverages blockchain technology to connect data sellers and buyers within an immutable ecosystem.
What is Measurable Data Token
Measurable Data Token is an Ethereum-based project that aims to help users get the right compensation for data they share with buyers. It focuses on cutting out corporations that leverage user data for gains. The project aims to change the status quo by restoring the power in users’ hands.
Data-sharing is rewarded using MDT tokens, a move that promotes fairer distribution and furthers the value of the native token.
The Measurable Data Token team
Heatherm Huang, co-founder of MailTime, ideated the Measurable Data Token project. Huang also created the Measurable Foundation, a firm responsible for MDT’s maintenance. Apart from him, the Measurable Data Token team also boasts numerous blockchain and data mining experts, including Software Engineer Wing Chan, Senior Software Engineer Matt Lung, and more.
How does Measurable Data Token work
Measurable Data Token hinges on transparency. Data buyers place tamper-proof requests over the blockchain. Data providers invoke specific data points from their repositories, much like data wallets, using their public key and send them to buyers. Buyers only have access to the data the seller wants to share.
Ecosystem-specific smart contracts handle the conditions specified for all data-related transactions. The smart contract details include data dimensions, the user's public key, reward percentage, and more. Payment for the data goes through only when the smart contract conditions are met and rewards are released as per the code.
Measurable Data Token’s native token: MDT
MDT is the native token of the Measurable Data Token ecosystem. MDT is an ERC-20 token compatible with most cold and hot wallets. The tokens have a supply cap of 1 billion, allocated as incentives and rewards. As there is a hard cap on the supply, the token economics model is expected to go from disinflationary to deflationary, as it is common for some tokens to get lost across wallets.
MDT use cases
MDT is a critical component of the Measurable Data Token ecosystem. Its main use case is to reward users for data sharing, essentially functioning as a form of payment. For instance, MDT tokens incentivize users who sell their data to gaming and other businesses to help them with market analysis.
In addition, MDT tokens have a few other use cases, including the ability to facilitate data transactions within the ecosystem, a role in platform governance, and the ability to earn staking rewards by offering MDT-based liquidity.
MDT distribution
MDT tokens are distributed as follows:
- 24 percent to the MailTime team
- 11 percent to advisors and early investors
- 15 percent to the growth pool
- 35 percent to token distribution events like airdrops
- 15 percent for the pre-sale
Measurable Data Token (MDT) and the future of the blockchain-driven economy
Data markets are crucial because they allow users to connect with businesses, helping them better understand the markets. But the modern-day process is heavily centralized. Measurable Data Token aims to change all that by offering a decentralized data market that is innovative enough to transform into a new economy.
