Lisk's First Major SideChain ICO - Madana, Is All In Gears
Lisk has been among the most prominent cryptocurrencies mainly because of its Sidechains. The arrival of Lisk's Sidechains are expected in the first quarter of 2019, and now we have the very first official sidechain ICO, Madana.
Let's see what exactly is Madana?
Madana is an abbreviated form of MArket for DAta ANAlysis. MADANA stands for an open data analysis platform, preserving privacy by design. The blockchain-based ecosystem allows anyone to stay in control of their data while monetizing it in an anonymous way, which is the current need of the hour as in the present situations, the data producers hand over their produced data to third parties.
Apart from this, Madana also provides a feature where they can give data to Data Analysts for getting a reward which in turn gets processed by the Analysts and once done, it can be sold to third parties.
In this way, Madana protects the data from being misused with the help of blockchain technology. Currently, Madana is in the patent-pending process.
The project is having a sturdy and sizeable team for the pre-ICO, making a strong foundation of the project which can not only just be an application of LISK but also can be applied beyond the blockchain use cases.
Madana has its native token that will be fuelling the Madana data ecosystem, called Privacy Analysis Exchange (PAX) token. The public presale will start on September 1 and close on October 31. During this presale, PAX tokens will be sold for $0.50.
Why Madana Chose LISK?
Lisk co-founder Max Kordek and the CEO of Madana, Christian Junger are quite good friends for a long time now. Kordek also announced that the first investment of Lisk's Pioneer Vault, 1.7 LSK, will be made in Madana as he expects Madana to contribute to the Lisk ecosystem, their strong team support, patent-pending data handling technology and of course their longtime friendship.
The Madana team states:
We researched various other Blockchain application platforms taking into account project funding, team, scalability, flexibility and usability and came to the conclusion that Lisk is the most promising choice as it showed two years of continuous development and very strong development funding.
Madana has the potential to bring LISK, a greater status by actually being a working product.