What is Cirus Foundation?
Cirus Foundation is a blockchain protocol that aims to speed up the integration of Web3 to conventional operations while incentivizing web users. The multi-layered platform features a simple and intuitive UI built on top of a robust framework that allows users full control over their data. So, as a web user on Cirus, you have complete authority over your data.
The incentive mechanism on Cirus allows you to monetize your data when necessary. Getting started is easy – just download the Cirus extension on your web browser and set it up. Despite users’ freedom to monetize their data, personally identifiable information (PII) is off-limits and will never be collected or displayed to data handlers.
Data that is eligible for monetization includes past and current browsing history, most visited sites, location details, and profile-building questions. Notably, Cirus does not collect passwords, financial information, keystrokes, or information about their devices.
Before advertisers and data sourcing firms access your data, the Cirus protocol cleans, normalizes, and enriches it through a set of algorithms. Then the cleansed data is processed with deep learning to link it with a unique ID. The Cirus ecosystem issues the unique ID to identify your data and issues you with incentives when advertisers and data buyers use it.
The Cirus economy deploys a native token called CIRUS to facilitate all processes on the platform. Check the live Cirus Foundation price chart to view the CIRUS price in real-time.
Apart from the token ecosystem, the platform comprises an interconnected framework of hardware, conventional software, and a blockchain environment. These tools are classified as Cirus Core Platform, Cirus Device, and Cirus Confluence Network.
Use Cases of CIRUS Tokens
CIRUS is an ERC-20 token operating across Ethereum and Polygon chains. The tokens mainly serve as the currency for paying users for commercializing their data. Simply, when users monetize their data, the income is paid in CIRUS crypto assets. So, you can generate passive income through the Cirus ecosystem.
You can also lock up your CIRUS tokens to earn staking rewards. This complementing utility offers users an additional revenue stream. Keep track of the CIRUS price and its value trends on the price chart above.
Another use case for CIRUS is to settle transaction fees on the platform. Since it leverages a Layer 2 blockchain, platform fees are minimal. When exchanging CIRUS crypto for fiat currencies, the commission fees incurred are payable in CIRUS and sent to the Cirus development fund. The token is deployed for facilitating remittance on the network.
Additionally, the token is also used in the authentication process. Cirus devices get 25 CIRUS tokens which are locked up and used to generate an activation signal for the device on its network.
Who Founded Cirus Foundation?
Cirus is the brainchild of Daniel Bland, Samartha Nagabhushanam, and Michael Luckhoo. Founded in 2021, the platform's core team consists of seven other members heading various departments. The departments include research, blockchain development, product management, and operations.
Cirus Foundation’s pool of talented experts has worked in diverse industries, cutting across tech, entrepreneurship, and blockchain development. For instance, all three co-founders are seasoned businessmen. Bland has 30+ years of experience in the tech sector, Nagabhushanam has worked in the wireless and data analytics industry, while Luckhoo has skills in blockchain tech, marketing, and promotion.
Tokenomics of CIRUS
The protocol has a fixed supply of 250 million tokens. This capped supply keeps the token deflationary and ensures its value grows as demand surges. To evaluate whether you should invest in Cirus Foundation, check the price history and the live CIRUS price above.