Pillar is one of the crypto projects floating around on CoinMarketCap and there are more than 2000 different crypto projects listed on this site. So how is Pillar any different than the rest? What is the vision that it is pursuing? What are the services provided by it?
In order to get a deep insight into the project, BlockPublisher got in touch with one of the founders of the project, Michael Messele. The following Q&A with Michael helps one clearly understand what the project is all about.
- What is Pillar’s long-term vision?
Michael: “Pillar’s vision is to create a Personal Data Locker – a way for individuals to interact with others and services while keeping their data safe. We’re implementing this vision by creating a social blockchain wallet with integrated services, building services that respect the user sovereign identity.”
- How is Pillar’s consensus algorithm different than the rest?
Michael: “Pillar is not a blockchain. While we’re blockchain agnostic, we do have deep ties to the Ethereum blockchain. We have plans to integrate bitcoin, NEM, Radix early in the new year. We are organizing a hackathon in the new year focusing on integrating the aforementioned blockchains to our Blockchain Explorer.”
- What products are present in your ecosystem right now?
Michael: “The social wallet has just been released. Over the next year, we will bring services into the wallet. Highlights are chat functionality, live support, and transaction tagging (notes).”
- What is the project’s main use-case?
Michael: “The use case is allowing people to interact with one another and services in a way that’s respect people desire for sovereign identity and respect to their personal information. We’re building the services and social tools that allow this to happen.
Early in the new year, we will add an exchange functionality to the wallet so that users can seamlessly exchange their tokens in-wallet. We also have an e-commerce section on our wallet coming up in the new year.”
- How is the issue of scalability managed by Pillar?
Michael: “We are experimenting with sidechains and state channels. Once completed, this will greatly ease the scalability friction.”
- What is the target audience of the project?
Michael: “The initial target is the crypto community. However, we make a strong emphasis on making the blockchain space more user-friendly. As such we build our tools in view of mainstream adoption in the future.”
Pillar is not a blockchain itself, it is blockchain-agnostic. Its main focus is the privacy of its users. Pillar aims at giving the users of the crypto community a safe and secure crypto wallet which can act like a complete data locker for the user. Data leakage is one of the biggest issues in the digital world and it does need some serious attention.
But with each passing day, more and more projects are springing up in this world which provide the same redundant services. Crypto wallets are in abundance. As the market saturates, it is highly likely that the projects which provide redundant services will be wiped out, let’s see if Pillar is able to tackle this saturation with the help of the services that it provides.
Find out more information about the project here.