The main purpose of Substratum (SUB) is to create an open-source and decentralized world wide web which will provide unrestricted access and sharing rights to content and information to users worldwide.
The company was founded by Abram Cookson. Their mission, as stated in the project´s Whitepaper, is to, “bring forth the free and fair internet of the future by combining proven technological building blocks with emergent technologies in an innovative and holistic way to help solve many of the problems that plague the modern internet.”
Substratum is based on Ethereum and it aims to gain mass adoption by providing per-request billing via micro-transactions and incentivizing users to run nodes to build the network by paying node hosts with the Substrate (SUB) token. The initiative is focused on providing solutions to important problems faced worldwide by offering:
Decentralized storage & content service
Decentralized DNS servers
Development tools (API/SDK) for a decentralized web
Net neutrality: equal access to all sites for all people
Fluid crossing of international borders
Revolutionizing the way hosting costs are managed and paid
The platform also offers multiple revenue streams, such as:
Substratum Pay - Allows all sites and applications that run on the Substratum network to use any publicly traded coin to process cryptocurrency transactions. SUBs will be the bridge currency between them.
Substratum Node – Network members that run Substratum broadcast software will be rewarded with SUB tokens by serving requests. This is intended to increase global participation and will bring value to the coin.
Substratum Host – Any Entity that wishes to host sites, databases, and applications on the Substratum network will use the SUB token to pay for the requests network members offer. This will mean SUB becomes the currency of the decentralized web which nearly every tech source agrees is the future of the internet.
The Substratum Network
The Substratum Network is designed to combine innovative technologies from the cryptocurrency and community hosting realms to achieve the creation of a peer-to-peer internet, while also aiming to revolutionize the hosting industry. The network is made up of a number of worldwide interconnected computers that can deliver secure content anywhere using industry-leading cryptography, effectively ending the need for Tor or VPNs.
In order to incentivize users to run the Substratum network client on their computer, Substrate (SUB) will be provided as payment for service to the network. The coin is issued to the serving user’s computer through a micro-transaction from the hosting site. By breaking fees down to a micro-transactional level, the overall cost is greatly reduced for companies and entities that want to host sites and applications on the network, as they pay only for what is being used.
Substratum serves decentralized content through an app service available in Linux, Windows, and Mac that requires no technical expertise to install and run.
The Substratum ICO was held between Aug 14th 2017 and Sep 14th 2017. The price of the token was set at $0.07 and the project sold around $13.8M worth of tokens. As of January 2018, around 226M SUB are in circulation from the total 352M available.