Cryptocurrency is often the poster child for the rise of blockchain technology, but surprisingly there are plenty of other uses apart from the digital currency fuss. Indeed, as a decentralized secure ledger, blockchain provides a seamless storage option for our files and data.
The power of blockchain lies with its encryption capabilities, and ventures are finding ways to use it as a distributed database for our files. Blockstorage is an example of a self-verifiable storage scheme that allows for an immutable data transaction and ownership. With accordance to similar projects, here's how Blockstorage stands to negotiate our files on the blockchain.
What Is BlockStorage?
Blockstorage is a backup and storage platform for files, which works under a blockchain protocol to allow for connective and abstract communications that enable the file storage. Their solution wants to provide a simpler alternative for users to save and store their files on blockchains regardless of their preference.
- Ability to save your files on several blockchains such as Ignis, Doge, and Bitcoin
- Full customizable access and security for the files
- Data compression options with two levels provided
- No payment fee for the storage service with the charges only coming in at paying for each storage transaction
- An intuitive process of reuse and download without having to undergo complex block storage protocols
- “My Blocks” wallet that acts as a storage option for the platform's native currency, BLOCKS.
How BlockStorage Blockchain Data Cloud Storage Works
Blockstorage will allow for users to register and pick a file they would want to send out to the storage blockchain in question. Once with a blockchain, they select the RSA key and confirm the blockchain and BLOCKS handles the rest of the process.
That will involve compressing and encrypting the file using the member's RSA key. From there, BLOCKS communicate with the storage blockchain and sends the encrypted file to give the user a hash block as the file's ID. With the hash block and RSA key, users can search, find and decrypt their stored data on the blockchain.
- No third-party intermediaries are necessary to handle, or store the files.
- Verifiability through hash blocks and RSA keys facilitates security of the information safeguarding from data fraud.
- The tamper-proof system of blockchain storage allows BLOCKS users to choose their desired blockchain with the kind of security they want
- Data compression through RSA will help accommodate large files
BlockStorage BLOCKS Token ICO Details
- Pre-ICO – Begins on May 6, 2018, and ends on May 19, 2018
- ICO – Starts from June 2, 2018, till June 11, 2018
- Ticker- BLOCKS
- Platform- Ethereum
- Currencies- ETH, BTC
- Price= 1 BLOCKS= 0.0001 ETH
- Supply sale- 180 million BLOCKS
- Minimum- 10,000 BLOCKS
- Maximum- 1,000,000 BLOCKS
- Pre-ICO- 20%
- ICO Sale- 60%
- Team- 20%
- Expenses sale- 5%
- Long Term- 10%
- Bounty- 5%
As we have seen, there are plenty of possibilities for blockchain storage to change our storage modes and bring in decentralization indeed. However, it is important to note that Blockstorage is still in its infancy stages and it is possible that there already exist more viable and advanced ventures already offering its respective use cases. But the option to give the user multiple blockchain storage options makes BLOCKS a different investment, but that is yet to become a reality.