Madana or Market for Data Analytics is a decentralised marketplace for analysing data built on Lisk’s sidechain. Lisk is considered to be a promising project mainly because of its sidechains, made possible along with the main blockchain.
Madana is the first ever ICO to be announced on a Lisk Sidechain. Data is becoming one of the most valuable assets to companies all over the globe. Madana aims to build a marketplace to share data and analytical models with proportionate compensations. In brief, producers, analysts, and consumers of data can be brought together on the same marketplace to fulfil their needs. The data with its insights can then be sold to third parties who require the insights for a price. Currently, Madana is in a patent-pending process.
This gives Madana an upper hand over its competitors. Madana has a large well-experienced team having good personal relationship with Lisk. This is one of the main reasons why Madana chose Lisk’s sidechain for its operations. Adding to this, the team aims to include other tokens and companies working on other Blockchains. Madana envisions being the project of the future with IoT and devices connectivity improving at tremendous velocity. With more data generated by devices and consumers all over the world, the number of users who can benefit from a platform like Madana are expected to increase.