BitShares Forum
Main => General Discussion => Topic started by: kyletorpey on December 11, 2013, 12:44:08 am
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bitcointalk thread: https://bitcointalk.org/index.php?topic=325735.0
Official site: datacoin.info
What are your thoughts on this project? It is definitely limited in use by the fact that you can only store 128KB files at the most, but it's definitely an interesting idea. It could have a few different uses, one being the sharing of torrent trackers. Instead of hosting torrents and posting them on the Pirate Bay, people could upload the torrent trackers to the Datacoin blockchain. It may also be possible to expand the file size limits through "personal chains".
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NameCoin has this ability as well. Even though it's limited at the moment it shows that it can be done.
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bitcointalk thread: https://bitcointalk.org/index.php?topic=325735.0
Official site: datacoin.info
What are your thoughts on this project? It is definitely limited in use by the fact that you can only store 128KB files at the most, but it's definitely an interesting idea. It could have a few different uses, one being the sharing of torrent trackers. Instead of hosting torrents and posting them on the Pirate Bay, people could upload the torrent trackers to the Datacoin blockchain. It may also be possible to expand the file size limits through "personal chains".
I like the idea...and I also like the competition with Namecoin. People often forget that competing versions of altcoins also make it more difficult to destroy the cryptocurrency market as a whole. If nation-states (and their puppet-masters) decide to destroy namecoin with a MASSIVE buy and dump...or some other unforeseen attack, if another system exists to serve a similar function, the people will move to the one that still exists...and the devs will learn from the weaknesses in the dead crypto
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Not sure how it will work out for practical data storage but new ideas and diversity make for a healthier ecosystem of coins overall. So all good I think.
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i think it is a good idea. i also think there will be competing storage networks.
and maybe even a load balance coin that is ensuring that Inputs are optimized across networks, and one for Outputs that is just keeping a directory of active nodes across these storage networks for data to ensure fast access
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Isn't this already implemented to a limited extend in the latest Bitcoin release? I think OP_RETURN could be used for that?
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Isn't this already implemented to a limited extend in the latest Bitcoin release? I think OP_RETURN could be used for that?
I think it is possible to store data in the Bitcoin blockchain, but it is extremely limited.
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It uses a proof of stock-- instead of incentivzing for mining power, it invcentivizes for computer space provided. At least I think this is the vision for how it will work.
My thoughts are because this is based on storage space-- proof of stock-- this would be that datacoins value will only appreciate with the costs of storage space. The cost for storing data in the blockchain will continue decreasing. Meaning the cost of mining datacoins will depreciate also. This means that datacoins won't really appreciate in value. At least not astronomically. The cost of datacoins is the cost of storing in the blockchain. Since this is a Distributed Automnomous Corporation, ots essentially the cost of buying an application/ software. This cost (storage space) should decrease over time.... What do you think? Anything else you can add.
I'm very concerned about the realms of putting illegal material into the blockchain. We as a cyptocurrency community should limit attention to ourselves-- especially when we want bitcoin seen favourably in the publics eye
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they will go up in value because people will pay more datacoin in a transaction as mining fees to get their data into the blockchain at a priority.
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It uses a proof of stock-- instead of incentivzing for mining power, it invcentivizes for computer space provided. At least I think this is the vision for how it will work.
My thoughts are because this is based on storage space-- proof of stock-- this would be that datacoins value will only appreciate with the costs of storage space. The cost for storing data in the blockchain will continue decreasing. Meaning the cost of mining datacoins will depreciate also. This means that datacoins won't really appreciate in value. At least not astronomically. The cost of datacoins is the cost of storing in the blockchain. Since this is a Distributed Automnomous Corporation, ots essentially the cost of buying an application/ software. This cost (storage space) should decrease over time.... What do you think? Anything else you can add.
I'm very concerned about the realms of putting illegal material into the blockchain. We as a cyptocurrency community should limit attention to ourselves-- especially when we want bitcoin seen favourably in the publics eye
I already talked about this with some friends. Proof of Storage.
You will hold encrypted chunks of data. The network must send you some kind of request that you could only solve if you hold the corresponding chunks.
Amazon S3 fear this!