What is IPFS?
The IPFS is a file system, which was launched in May 2014 by Juan Benet, Ph.D., Stanford University. In essence, it is a content-addressable, version-managed, point-to-point hypermedia distributed storage and transport protocol. The goal is to enhance or even replace the HTTP protocol which has been used for the past 20 years, in an effort to bring the internet into a faster, safer, freer era.
FileCoin creates the largest ICO in history
In August 2017, FileCoin (the blockchain-based incentive layer for IPFS) made its initial public offering of ICO, which raised more than $250 million, making it the largest ICO at the time. The pre-private round investor list includes prominent VCs such as Sequoia Capital, Anderson Horowitz, and Union Square Investment. Since then, IPFS and FileCoin have become popular among global investors, and won numerous fans. Investors generally believe that this is a $100 billion market with broad prospects, revealing the coming of the next generation Internet!
Big names came into blockchain storage market
The success of FileCoin has drawn tremendous attention and attracted more mainstream professional players to join. One of them is YottaChain, led by top scientist Donglin Wang, who has a track record of successful projects in software technology, and industry resources network. Wang has invented more than 100 patents, and has in-depth insights of the market trend, user pain points, industry ecology, cutting-edge perspective, as well as strong industry resources. He has achieved international top-level awards in cryptography application and storage technology, and also won one of the highest official honors of Chinese scientists (China Top Ten Young Scientists Selected by China Association for Science and Technology). The official launch of public storage chains, such as YottaChain, indicates the mainstream of the industry has entered the blockchain storage market, which indicates this sector is poised for a strong growth stage.
YottaChain redefines blockchain storage
YottaChain is praised by the industry experts as “the most probable storage chain project beyond IPFS.” With its exclusive patented technology, it has distinct advantages in data security, data reliability and service stability, and extended the relevant storage market from network accelerating to larger persistent storage market, extending the application from open data, such as web pages, to personal and corporate data, creating a new business model for enterprise users. This model will help the growth of open platforms in entire ecosystem of blockchain-based storage, and it has promising future to win tens of billions of dollars from centralized storage with its overwhelming advantage in reliability and pricing.
YottaChain’s encrypted deduplication revolutionizes the industry
Data encryption and data deduplication are the two core key technologies of blockchain storage, but the existing technologies including IPFS have not solved the problem of deduplication after encryption, and have to give up one of above features. In the case of IPFS, they give up data encryption in order to achieve deduplication. Their slogan, "replace http" actually implies that it is only the solution for for storing public data such as web pages, not for private data or encrypted data.
One of Donglin Wang's important technical achievements is to overcome the technical difficulties of coexistent encryption and deduplication, a solution that has been submitted for global patents. YottaChain uses the zero-knowledge encryption method to save data on untrusted decentralized nodes, preventing user information leakage. It can also significantly reduce storage costs, and combined with the blockchain, will build a very powerful incentive-model.
YottaChain wins over IPFS/FileCoin, on key performance indicators
First, YottaChain is safer than the existing solution. IPFS/FileCoin does not encrypt data and does not have a data security management system. YottaChain relies on exclusive patented technology to implement a very complete data security system without loss of other features, not only for data encryption, but also for authorization management, keys management and other functions.
Second, it is more reliable. Because IPFS does not encrypt data, it does not actively copy data to other nodes for ethical issues, resulting in no redundant storage of unpopular data. A node failure will lose data. YottaChain is divided into N (for example, 100) fragments by redundant coding and stored separately. Among the N nodes, if any M (for example, 30) nodes are allowed to fail at the same time, no data will be lost, and the nodes monitor each other. Once the node fails, the data of the failed node is reconstructed, so that the data reliability is far superior over IPFS, and even more than 10,000 times higher than centralized storage.
Third, YottaChain is more stable. Since IPFS/FileCoin is intended to take advantage of individual computers’ idle resources, the qualification of storage nodes is very low, which cannot guarantee the reliability. YottaChain is using commercial nodes that meet higher requirements, such as 24x7 continuity and bandwidth scale. YottaChain cooperates with hundreds of thousands of commercial datacenter nodes, which enable it to provide stable PB scale storage service.
Fourth, it’s a better commercial ecosystem. IPFS/FileCoin is not friendly to enterprise users, not only because it lacks support for existing applications, but also the frequent changes in currency prices make it difficult for users to calculate the budget. YottaChain supports binary-compatible centralized storage. It can seamlessly migrate existing centralized applications, and the two-tier currency system combining stable currency and normal currency is beneficial to enterprise users.
Fifth, there is greater market potential. IPFS/FileCoin only targets the multi-billion dollar network acceleration market. Its disadvantages in data security, reliability, stability and business model make it unsuitable for the persistent storage market. YottaChain effectively solves the above problem. In addition to the network acceleration market, it can cover the tens of billions of dollars of persistent storage market, a market that has increased in size several times.
YottaChain has just completed more than 6000 ETHIbO round financing in 24 hours
According to the official news of the YottaChain Foundation in Singapore, YottaChain successfully completed the early bird round financing at 10 am on October 26. The financing process adopted the IbO model, and the certified investors invested in smart contracts. In just 24 hours, they completed financing of $12,349,900 and raised 6152.8 ETHs.
Media Contact
Company Name: YottaChain
Contact Person: Yvonne Li
Email: Send Email
Country: United States
Website: http://yottachain.io
Source: www.abnewswire.com
