Safeguarding your online presence and trail of data has become a significant concern. As developers come up with brilliant app ideas, they usually cannot deliver without collecting user data that enables them to perfect their service. So many hacker attacks targeted to this specific kind of data have been lead recently. Leaked data have emerged all over the internet shattering the trust of the consumer in the products that failed to deliver data security.However, with the blockchain revolution problems like these might become a thing of the past.
Introducing Casper Network
The Casper ecosystem is a decentralized file storage system where DApps developers can store their application data that’s based on the Ethereum Blockchain and any platform that supports smart contracts. Based on a P2P network, solicitants will be able to perform transactions and calculations with the help of a network of storage suppliers and vendors. Such a system will give the opportunity to almost everybody to participate, granted they own the right infrastructure. Running a P2P network of file storage is exponentially cheaper than the traditional cloud services. Some of the advantages of such a network would have to be:
Countless file storage locations
Fully insured redundancy systems
Blockchain assured safety
Virtually infinite storage scalability
Storage vendors will have the opportunity to connect to other blockchain platforms as well, but currently, Casper supports only the Ethereum platform. Large data centers or small-scale operations can be hooked to the Casper network as there is an available payment plan for individually rendered storage services.
Casper has a robust governance system where vendors and storage providers are verified regularly and adequately stimulated to ensure sustainable growth of the ecosystem. Setting these ground rules, however, will not impede the natural flow of the market as we are talking about an entirely decentralized network where the participants are key.
Casper Network Cycle
When a user wants to store data on the Casper Network, they will be able to do it via CST, Casper’s token that’s based on the ERC20 technology. 1 CST token will equal roughly 256 GB of storage. Holders of the token will be able to use it as they see fit. Trade it for its monetary value or exchange it for the storage utility. As the demand for reliable storage services is ever growing so will the value of the token go up, thus exposing a transparent growth process that’s dictated by a real need?
Once the users decide to use the token for its storage utility they can rest assured that their files are stored on a reliable decentralized network. The storage vendors cannot access the data as it is entirely network encrypted and if any of the hardware goes rogue or off the grid, Casper ensures full redundancy by transferring the data to other available storage providers. With the help of the smart contracts feature a triage process will auto-regulate the network by providing that the most reliable storage vendors are properly rewarded.
If you want to know more about Casper, do not hesitate to check the official Website and join the Telegram group.
Author : Maniecool
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