DeNet Storage Protocol v3 to address key challenge of decentralization

DeNet has recently announced the release of the 3rd version of its DeNet Storage Protocol. This update brings a host of innovative features and improvements that address the requirements of both Datakeepers and storage users. Notable enhancements include an advanced replication mechanism, improved network stability, and enticing incentives for Datakeepers. In this article, we will explore the details of these updates and analyze their implications for DeNet users.

Smart replication to ensure data security

The new replication mechanism has been developed with the primary goal of enhancing file security to its maximum potential. With this mechanism, files can now be replicated multiple times, depending on the number of nodes present in the network, as long as there is sufficient storage space available. While replication on three different nodes remains the minimum requirement, there is no upper limit to the number of nodes that can store copies of a file. This ensures that even in the event of node failures, there will be enough redundant copies to prevent any loss of files.

If a Datakeeper runs out of storage space, they have the option to delete redundant files. However, this can only be done if there are at least three other copies of the file available in the network.

This update brings about two major advantages. Firstly, users can now enjoy enhanced security for every file they upload. With multiple copies stored across various nodes, the risk of data loss is significantly reduced. Secondly, this update also benefits Datakeepers by allowing them to increase their income and establish a more stable revenue stream through the storage of additional files.

New mechanism of entering the network

In the latest version of DeNet Storage Protocol (v3), Datakeepers are now required to make a TBY deposit in order to launch a node. The amount of TBY necessary to launch each new node is determined by the number of existing Datakeepers. This means that the longer one waits, the higher the deposit required. To avoid incurring higher expenses, it is advisable to become a DeNet Datakeeper as soon as possible. This will make it more convenient and cost-effective to launch a node.

For instance, suppose there are already 10 Datakeepers in the network. In this case, your ID will be assigned as number 11, along with the necessary TBY deposit. It is important to note that the deposit made by a Datakeeper remains their own property. A Datakeeper can choose to leave the network without their deposit being forfeited.

This update aims to enhance network stability, improve upload and download speeds, and provide a secure environment for all members. Let’s delve deeper into each aspect.

• Enhanced network stability

Requiring a deposit ensures that Datakeepers joining the network have serious intentions. Without this requirement, anyone could become a DeNet Datakeeper and leave immediately, putting the safety of users’ files at risk. DeNet prioritizes quality over quantity when it comes to its Datakeepers. With DeNet v3, the focus is on welcoming committed Datakeepers who can contribute towards solving one of the major challenges of decentralization — the lack of stability. Unlike maintaining a single large data center, organizing autonomous nodes around the world is a real challenge that requires careful attention and dedication. By embracing decentralized solutions, we aim to overcome the limitations of centralization and create a decentralized network that is accessible and beneficial to all users.

• Better speed

The introduction of an obligatory deposit significantly improves the speed of file uploads and downloads for users. Previously, without such a system in place, users had to spend valuable time scouring through a network that was often cluttered with offline nodes. This made it a time-consuming process to place a new file or to request a proof. However, the introduction of the deposit has incentivized all Datakeepers to maintain their availability and activity levels, as this enables them to recover their deposit and earn additional rewards. Consequently, there is no longer a necessity to waste time on offline nodes as they appear less frequently, resulting in a notable improvement in network speed for users.

• Network security

Network security addresses the crucial concern of why the cost of deposit increases with each additional datakeeper. This measure is implemented to safeguard against fraudulent attacks such as the Sybil Attack and the potential creation of numerous nodes by an attacker. A decentralized network necessitates multiple independent nodes to prevent any single hacker from gaining control over the data. Furthermore, the implementation of an escalating deposit system serves to deter attackers due to its intricate nature and substantial expenses.

In addition, an effective mechanism is in place to ensure that only active nodes hold Datakeepers IDs. This is made possible through the ID interception mechanism. Here’s how it works: if a Datakeeper fails to provide proofs or has a lower TBY deposit than their ID requires, they risk losing their position in the network. In such cases, a new Datakeeper can intercept their ID, as it would be more cost-effective than creating a new ID with a higher deposit. Consequently, Datakeepers are motivated to actively participate and assert their ID status.

What’s in return?

At DeNet, Datakeepers are rewarded for their crucial role in keeping the network secure and stable. We want to ensure that they are fairly compensated for their valuable contributions. This is how our rewarding system works:

Storing Users’ Files: The primary responsibility of a Datakeeper within DeNet is to store users’ files. As a Datakeeper receives a file, they must prove that they are storing it through the Proof-of-Storage consensus algorithm. If the proof is successful, the Datakeeper is rewarded with TBY_mined, which can be withdrawn.

System Reward: In addition to the main rewarding system, we offer additional incentives to our Datakeepers. One such incentive is the System reward. This reward represents 2% of the total TBY supply annually and is distributed among all Datakeepers in the network. It’s important to note that as DeNet continues to develop, the total TBY supply increases too, resulting in higher rewards for Datakeepers.

Datakeepers have the flexibility to use their received TBY in different ways. They can use it to store data or convert it into TBY_mined to close the deposit.

Charity Proof: The DeNet team is actively working on implementing a new mechanism called Charity proof. This mechanism ensures Datakeepers do not lose their income even if a user fails to pay for storage. In such cases, Datakeepers can use their System Reward in TBY to cover the user’s storage costs, allowing them to immediately send proof and receive TBY_mined, which is available for withdrawal. It is crucial to maintain an equal balance of deposited TBY with the ID number and only utilize additional TBY for charity proofs.

In summary, the Denet Storage Protocol v3 is a comprehensive solution that caters to the needs of both Datakeepers and users, ultimately contributing to a stable network environment. By continuously enhancing the conditions for Datakeepers, we guarantee the secure, fast and uninterrupted operation of DeNet Storage for our users. With the Denet Storage Protocol v3 in place, everyone can confidently rely on a robust and reliable network infrastructure.