The fact that blockchain technology and the process of decentralization is going to take over our digital lives seems not to be a secret anymore. With the help of this disruptive discovery, whole industries can suddenly be flipped on their heads and thus tipping the power balance more in favor of people.
Satoshi Nakamoto envisioned Bitcoin to be a peer to peer banking system that’s going to take the centralized bank system by storm. However, it has become so much more than that. With the help of cryptocurrencies like Ethereum, bright ideas that want to leverage the use of blockchain can become a reality. It will be interesting to see what fresh new use cases will pop up.
Casper Project: the decentralized storage system
Casper is a file storage system that’s meant to serve applications based on the Ethereum platform, namely ERC20 based tokens that can support smart contracts. The Casper ecosystem is a P2P network where users can provide hardware resources to perform calculations and transactions. By leveraging a storage unit network that provides real HDD file storage to clients, Casper will ensure that the system is functioning at optimum parameters.
How does the storage unit network scale?
This module is going to be connected to multiple blockchain platforms (currently supporting only ETH) where multiple user owned storage units may be able to be plugged to the ecosystem after which the owners will receive tokens as the reward. Whether you are an individual who wants to start a business this way or perhaps you are thinking about large-scale data centers, the Casper network will have a viable option at your disposal.
Casper has very rigorous governance system in place that can thoroughly verify, stimulate and penalize its users while maintaining a genuinely decentralized policy. The target of the Casper ecosystem is individuals or companies who would like to try their idea in the crypto world by creating a dApp (decentralized app). The deployment of such a piece of software usually requires non-traditional resources, and ample space of storage is crucial to the success of such a project. A fully decentralized redundancy system will be guaranteed by the Casper Ecosystem, thus ensuring a 24/7 uptime.
Going the traditional route where one might rent cloud storage from the big players like Google or Amazon will undoubtedly be more expensive as these companies still run on a centralized model where they must take care of all maintenance fees.Having a decentralized cloud file storage system will surely spell the doom of these traditional centralized options as they will not be able to compete price wise.
By using the smart contracts features all of the Casper network stores a registry that holds every vendor and customer accountable for their transactions. This will also adjust the operation of the storage until network by carefully monitoring the storage vendors operating terms.
While new ICOs and dApps ideas pop up every day, having a service like the one provided by the Casper Network will further cement the future of the blockchain technology.
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Nick J
