Website: https://lightstreams.network/
Token type: ERC-20 (to be moved to own chain?)
Ticker: PHT
Token Supply: 300,000,000 PHT
Hard Cap 20,000,000 USD
Whitepaper: 33 pages
Distribution of Funds:
Project Summary:
Decentralized data storage chain using IPFS
Runs on own instance of ETH chain (fork) with tendermint consensus
Permissioned blocks
Touted as their in house award winning technology
Distributed Secure Storage Network (DDSN) where data blocks are
only exchanged with authorized nodes
ETH layer for currency and smart contract capabilities (assumed
to be EVM)
Smart contracts used to provide permissions
User signs a digital signature to authenticate the request
Token
Used to pay for network transaction fees
Used for purchasing content
Used for network governance
Consensus mechanism
Tendermint consensus
Proof of Authority (PoA)
Block time of 1 to 3 seconds
Ability to shard
Designed to be able to swap protocols in the future
Governance
Token Curated Governance (TCG)
DAO & DPoS hybrid
Changes are suggested to authority nodes
Authority nodes act as delegates who will, in their own
circle, accept/reject the proposals
Token holders vote for authority nodes who implement their
proposals
Inflation will be determined by same structure
Pros/Cons:
Pros:
First implementation of permissioned storage I have come across
Modularised components allow for quick change in protocol should
the need arise
Runs own chain
EVM compatible
Cons:
Storage solutions have not gained traction for years (Siacoin,
Burst etc)
Database creation and whitelisting is highly dependent on block
time as well as chain activity
General Thoughts:
I have seen many file storage protocols but Lightstreams is the first
I've seen where access control is done through a smart contract. I like
the fact of using an address as a user and granting that address
permissions to that file system.
I do appreciate storage projects a ton but storage tokens have a history
of just dying off until the next hyped solution comes on. Analysing past
solutions also show that it is not very profitable to 'mine' storage
coins due to the cost of hardware needed (multiple shelves of hard
disks) as well as an expensive cpu/gpu for the mapping of those drivers
(or it would take forever to map the partitions).
I personally do hope that this will be the project that finally gets
traction for IPFS storage but looking from a pure monetary point of
view, this token is probably worth a short to mid term flip.
Rating: 7.6/10
Disclaimer: This is not investing advice and simply my personal thoughts
and opinions. I am not liable for any decisions made from this post. I
am also not affiliated with any investment or advisory firms and do not
engage in activity with such entities.
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ETH: 0xa0b9Ec81eC4dcb269D5cc27E717bb967c441233e
