Flowcoin: The Revolution of Distributed Flow Storage Based on Blockchain in the 5G Era

0

The development and evolution process of the new era of 5G Internet has allowed the world to see the underlying logic of a group of ordinary people who can do an extraordinary business, and let the world see the possibility of everlasting organizational foundations and crossing discontinuities.

5G + distributed data storage + traffic transmission, the realization and application of all technologies need to be realized through 5G network + 5G terminal + 5G traffic. 5G network and 5G terminal belong to the infrastructure and hardware part, and the network provider and hardware provider once 5G traffic will be the key to determining users’ participation and enjoyment of 5G high-speed networks and services. Having 5G traffic means having tickets for the 5G era.

In the 5G era, traffic storage is just needed!

Flowcoin, a fully open source and fully open distributed main network based on the underlying development of IPFS, a decentralized storage network built on blockchain and local protocols, has the world’s most advanced and cutting-edge blockchain technology and innovative storage The distributed traffic storage ecosystem created by the model.

The purpose of Flowcoin is to solve the problems of traffic storage in the 5G era, so that 5G traffic can be more efficiently and fairly distributed, and to provide strong support for the economic development and business ecology of the 5G era. It also provides more convenient and affordable services for people’s lives in the 5G era.

Flowcoin: The Revolution of Distributed Flow Storage Based on Blockchain in the 5G Era

Flowcoin architecture design

Flowcoin is a protocol token. Its blockchain runs on a new type of proof mechanism called “time-space proof”. Its blocks will be created by miners who store data. The Flowcoin protocol provides data storage services and retrieval services through a network that does not rely on a single coordinated independent storage provider. Among them:

(1) Users pay for data storage and retrieval;

(2) Storage miners earn tokens by providing storage space;

(3) Search for miners to provide data services to earn tokens.

Basic components of the Flowcoin protocol

The Flowcoin protocol is built on four new components.

(1) Decentralized Storage Network (DSN for short): Flowcoin provides an abstract concept of a network composed of independent storage providers so that they can provide storage and retrieval services. And Flowcoin will be displayed as an incentivable, auditable and verifiable DSN framework.

(2) New storage certificate:

1. The proof of copy allows the storage provider to prove that the data has indeed been copied to its unique dedicated physical storage device. Enforce a unique physical copy, so that the verifier can verify that the prover does not duplicate multiple copies of data in the same storage space;

2. Space-time proof allows storage providers to prove that they have continuously stored certain data within a specified period of time.

(3) Verifiable market: Flowcoin models storage requests and retrieval requests as orders in two decentralized verifiable markets operated by the Flowcoin network. The verifiable market ensures that when a service is provided correctly, the corresponding payment will be paid.

(4) Effective proof of work: Flowcoin shows how to construct an effective proof of work based on “proof of time and space” to be used in the consensus protocol. Miners will no longer need to spend unnecessary computing resources to mine blocks, but The data must be stored in the network.

Design purpose of Flowcoin

Flowcoin was originally designed to incentivize all participants to make more contributions to the network. Every participant (including target customers, miners, investors, etc.) will gain revenue by contributing idle traffic storage to the overall network. The more contributions, the more revenue they will receive. Through the incentive mechanism, the service quality of the entire network is improved. Through a fully open bidding market, all participants can obtain file storage services at a very low price. Customers can adjust storage strategies to meet their needs, creating a custom balance between redundancy, retrieval speed, and cost.

Features of Flowcoin

Flowcoin uses the underlying technology of the blockchain, which has the characteristics of decentralization, openness and transparency, safety and reliability, and open consensus. In addition, it also has a physical application ecology, including the establishment of a huge blockchain digital currency ecology based on the blockchain technology system, and docking with multiple entities around the world. Moreover, the emergence of Flowcoin redefines the flow distribution method.

Flowcoin incentive mechanism

As the token of Flowcoin, FLW is an important part of the autonomous community ecology. It will be a medium of exchange between community participants and an economic incentive for ecosystem dedication. The purpose of introducing Flowcoin Token is to provide convenient and safe payment and settlement methods for participants in the Flowcoin community ecology. At the same time, Flowcoin Token will be used as an economic incentive to stimulate the participation of these service and resource providers.

The total amount of FLW issued is 310 million; 70% is produced as a mining mass of 217 million (halved every 4 years);

Pre-mine 10%, 31 million pieces;

15% of super nodes, 46.5 million (50 individuals selected globally);

Technical team 5%, 15.5 million pieces (1% released every month)

Flowcoin will give corresponding Token rewards based on effective retrieval service or storage service behavior. At present, the global Internet advertising traffic and short video traffic continue to grow, and the value is amazing. Flowcoin effectively solves the problem of realizing the value of user traffic and allows advertisers to obtain accurate user traffic and realize the full realization of the value of traffic.

Finally, while the 5G era is advancing by leaps and bounds, the massive and diverse data traffic puts forward higher requirements on the IT operation support of operators. Flowcoin will serve as an intermediate bridge between the blockchain and the data-centric Internet, connecting any decentralized storage network and being compatible with the existing centralized traffic model, effectively reducing the friction between data transmission and transactions, and carrying more data volume. Create a new era of business data.