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0.46%
0.61%
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1.54%
0.84%
ETH
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1.37%
2.07%
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$684.38
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3.40%
9.06%
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1.11%
2.03%
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12.13%
ADA
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0.49%
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7.08%
LTC
$48.10
0.26%
0.46%
0.61%
BTC
$77,738.87
0.39%
1.54%
0.84%
ETH
$2,418.25
0.31%
1.37%
2.07%
BNB
$684.38
1.36%
3.40%
9.06%
XRP
$1.35
0.44%
3.37%
8.08%
SOL
$101.73
0.06%
1.11%
2.03%
TRX
$0.33611743
0.76%
3.79%
10.63%
DOGE
$0.08182244
0.54%
2.26%
2.49%
LINK
$11.13
0.65%
4.03%
12.13%
ADA
$0.19291592
0.49%
1.65%
7.08%
LTC
$48.10
   /       /       /    What is Proof-of-Storage in cryptocurrencies?

What is Proof-of-Storage in cryptocurrencies?

What is Proof-of-Storage in cryptocurrencies?


Proof-of-storage (Proof-of-Storage) is an approach in which network participants allocate disk space to store other users' data, forming a distributed cloud storage. Unlike classic mining, the useful resource here is not computing power but the guaranteed and verifiable preservation of files. The network periodically checks that a keeper actually holds the data entrusted to them, and awards a reward for correctly performing this work.

This mechanism underlies decentralized storage systems. Files are split into parts, encrypted, and distributed among many independent nodes, so the loss or disconnection of a single participant does not lead to a loss of information. This increases fault tolerance and reduces dependence on a single centralized provider.

Key properties

  • useful work: the resource is spent on storing real data rather than on "idle" calculations;
  • regular cryptographic checks that the keeper has the files;
  • economic incentives to maintain the availability and preservation of the data.

Proof-of-storage is often combined with other mechanisms that confirm the correct delivery of data on request. Together, this makes it possible to build reliable decentralized storage where users pay for space and disk owners earn a reward for the resource they provide.

27-07-2019
Glossary of Terms / Cryptocurrency Terms and Definitions

Cryptocurrency Terms and Definitions

What is Proof of Service in cryptocurrencies?What is Proof of Service in cryptocurrencies?What is Proof of Importance (PoI) in cryptocurrencies?What is Proof of Importance (PoI) in cryptocurrencies?What is Proof of Capacity (PoC) in cryptocurrencies?What is Proof of Capacity (PoC) in cryptocurrencies?What is Proof of Stake (PoS)?What is Proof of Stake (PoS)?

Random quote about money

"Идеалист - это тот, кто помогает разбогатеть другим."

Генри Форд

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