Progress of mankind can be marked by the progress in the way we store and transmit information. Recently, the development of digital technologies has forced data warehouses to virtual reality. Today most people are using cloud storage and the advent of blockchain technology has caused the development of decentralized applications(DApps).
However, cost of such services for decentralized applications is too high, and the safety of the stored information is insufficient. These problems will be solved by Casper API, the universal platform for decentralized cloud storage.
About Casper API
Casper API is a distributed data storage platform based on blockchain technology. It is the infrastructural element that allows any DApp to set up a decentralized cloud storage of service data using any blockchain with smart contract.
Casper provides a network of distributed repositories for any data that the client needs, like photos, videos, texts and so on. Their services differs from analogues, including cloud services. It does not have any weak spot as centralized server or a certain entry point like DNS that can be targeted. Their project works on a smart contract as user requests are executed automatically.
They don’t build a cloud storage, but help DApp on any blockchain platform with smart-contract to resolve task of data storage, and quicken development of blockchain project industry.
How Does Casper Token Work?
The decentralized application requests from smart-contract a free space to place content, smart-contract sends an address of the server where data may be uploaded. The Casper API system, during the upload, copies the file to 3 more servers, in summary, we have 4 copies of the file. Further, this number of replicas is maintained. When one server is no longer available in the network, it will be replaced by a new one, which downloads a copy from the 3 remaining servers. Depending on the content, the application developers may encrypt or not encrypt the data. Casper API stores 4 copies of files encrypted or open for review.
CST serves as an internal currency within the Casper platform. Token owners can become a provider of resources, they can lease out the token to the supplier and receive part of the reward for token utilization and they can sell the token freely on the stock exchange at market value.
A total of 440 million tokens are available of which 3% will be used in the Pre-ICO, 42% in the ICO pre-sale and 14% in the token sale. 20% is the system fund, 15% will be given to the team, 2% to the advisors, 1% for the bounty program and 5% to the business partners of the platform. Token prices for 1 CST in Pre ICO $0.08, Pre sale of ICO is $0.12 and ICO crowdsale is $0.16.
CST is a ERC20 compliant token which can be traded at exchanges. Free float after ICO will be 60% of all issued tokens. System fund of CST is required to support liquidity and token price sustainability at exchanges. This protects from rapid exchange rate fluctuations.
Casper ICO will be conducted in May 2018.
Casper’s mission is to help scale up the development of decentralized applications. Having access to decentralized storage, DApps can become truly decentralized without relying on centralized repositories and can also create complex graphical user interfaces, friendly to average users.
More information is available about the platform and CST token on their website http://casperproject.io/ .