San Jose, CA, May 28, 2022 (GLOBE NEWSWIRE) – When you tap on the keyboard or browse this article, you may not realize that the Internet has already stored your personal behavior data. From the birth of Web1 to the prosperity of Web2, every piece of data accelerates the progress and innovation of the Internet. Terms like cloud computing, big data, IoT and AI are no longer new to humans. The penetration of information technology in people’s daily life has benefited the world. Over the past two years, the introduction and exploration of Web3 concepts has led to the emergence of more open, fair and secure networks. The new technological revolution has stirred and stimulated the smart brains of the world, and various pioneers have silently planned to embrace a new generation of information technology.
Emerging opportunities for real data storage
Behind the rapid development of the Internet, data carries a huge increased loading. IDC’s monitoring data shows that global big data storage reached 4.3ZB (equivalent to 4.724 billion 1TB mobile hard disk) in 2013 and increased to 50ZB (1ZB = 1024EB) in 2020. This volume is predicted to increase to 175ZB 2025, which is the equivalent of creating 200 million DVDs of data per day worldwide. The huge demand for huge data storage has catalyzed the rapid development of blockchain distributed storage platforms such as Sia, Filecoin, Swarm and Datamall Chain. By leveraging the benefits of blockchain decentralized distributed storage network transparency and equal collaboration, these platforms encourage more storage resources to join decentralized distributed storage networks, which in turn stimulates the diversified development of the data storage market.
Among the many explorers of Web3 data storage, the Datamall chain, as an important part of the decentralized storage exchange network, will become the pioneer in the global decentralized storage trading market. The Datamall chain is committed to breaking down barriers across the various decentralized storage services markets, building a secure data storage bridge for decentralized storage services and providing a free, realistic, secure and efficient data storage infrastructure for Web3.
What a preparation Datamol chains have been created to become the cornerstone of Web3 data storage?
In the face of the global data storage market, an integral, rigid and sustainable decentralized ecosystem will be crucial. The decentralized storage ecosystem of the datamal chain consists of three important components: the storage application layer, the storage transaction layer and the storage service layer. The storage transaction level integrates the aspects of storage supply and demand as the core, the role of free participants in the decentralized storage system of the datamal chain such as individuals and organizations, storage demanders, storage service providers (mines / mines), traders, developers. , Etc.
Based on the huge structure of the ecosystem, a total of 1 billion DMC tokens will be created, which are the governance tokens of the datamul chain. With DMC, anyone can purchase storage services and those who own storage space can convert it to DMC. Transactions are accomplished through complex economic models of PST Maker Contracts, Trading Contracts and Storage Delivery Contracts. The decentralized storage service network uses the Proof of Storage Service (PoSS) algorithm for consensus. The amount of PST is to be determined by the DMC, the voting power and the voting power as a condition for screening the nodes and making them consensus nodes. These miners provide storage services, such as mining. In addition, the datamal chain system follows reward rules to motivate and attract more miners who can provide storage services to join and become a constant driving force for continuous improvement of storage service capacity of decentralized networks. The collaboration between the PoSS and the storage transaction model not only guarantees fair incentives, but also provides a strong defense against node hijacked attacks and collusion attacks.
In the datamal chain governance system, bonus point rewards called Real Storage Incentives (“RSI”) are given to users and miners for actual storage supply and demand transactions. RSI plays an important role in the datamal chain, as it reflects the environmental value of the project. Incentives can stimulate the smooth and orderly development of decentralized storage trading markets. In relative terms, the system’s punitive measures can limit the destructive behavior of miners and ensure the quality of storage services for miners. At the beginning of the project, DMC governance was used to buyback and burn RSI following the ABO (Asset Purchase) model. As the project progresses, the project’s accumulated transaction fee (DMC) gradually increases and reaches a “balance point”, the DMC governance allocation will no longer be used for repurchase. Instead, the transaction fee (DMC) will be used to burn the RSI.
A perfect match between market opportunities and business thinking
Earlier this year, the US Congress convened a special hearing. Six industry encryption companies, including Coinbase, Circle, FTX and Stellar, testified to the growing importance of the market and the aspirations of the encryption industry for better oversight. The hearing, which was attended by members of the Financial Services Committee, the U.S. House of Representatives, and members of both the Republican and Democratic parties, lasted five hours.
Among the business community participants, Brian Brooks, CEO of the encryption mining company BitFury, introduced the concept of “Web3” to congressmen in attendance. This is the first time for US regulators that Web3 is the future. As blockchain is rapidly emerging as a core technology of Web3, the global data storage market now urgently needs a robust new system to meet the growing storage demand. Adhering to a vision of “building a bridge to free data storage in the world”, Datamall Chain’s ecosystem represents a perfect match between business thinking and market opportunities.
Providing a platform for supply and demand aspects in the global decentralized storage trading market, the Datamall chain can handle every piece of data accurately and securely and offer a stable and solid infrastructure for a more open, fair and more secure Web3. .
For more details, please visit DMC Official Twitter and DMC Official Website.