Phantasma Decentralized File Storage
Blockchain technology can be used to create a decentralized file storage solution to grant users control over their own files. The team of Phantasma Chain values privacy and ownership, so we need to have our own decentralized file storage solution.
Phantasma Chain is proud to announce further details of its very own file storage solution!
We want a free decentralized storage solution for all of our users, so we have designed such a solution while simultaneously increasing the SOUL coin utility. Phantasma’s decentralized file storage is available from main net launch day and a storage dApp (for regular consumers) will launch soon after main net launch.
Files on the file storage of Phantasma Chain are encrypted and distributed across all active Block Producers and only accessible by controlling a specific private key. Every wallet has a specific amount of kilobytes (KB) allocated in proportion to the amount of staked SOUL. Every staked SOUL accounts to 10 KB of storage, this means that the whole chain can initially store up to 1 TB of file storage.
e.g. if a wallet stakes 1,000 SOUL, it is allocated 10,000 KB (10 MB) of storage space. By this same calculation a SOUL Master is allocated 500,000 KB (500 MB) of free storage space.
The amount of KB per staked SOUL adjusts yearly according to the moore’s law. This means that Block Producers will have to increase the storage space to keep up.
How does it work?
Every file is split and distributed across all active BPs, more specifically one single data gets copied and distributed across 5 active BPs at all times (based on erasure code) until the whole file has been distributed, ultimately a few active BPs combined can reconstruct a file. So even if a BP falls out, your data is still safely stored on multiple BPs. Note that only active BPs are initially used for storage, however this is temporarily. In the future, standby BPs will also be used for storage and eventually everybody can set-up a storage node to contribute to the Phantasma file storage. This distributed method ensures maximum decentralization of stored data.
The Phantasma file storage enables true decentralized apps to be deployed on-chain, you read that right: true decentralized apps. Most dApps require a website as frontend which can be blocked by ISPs or the developers of a specific dApp can simply decide to pull the plug and stop hosting the website. Our storage solution combined with Phantasma App makes it possible for developers to host dApps which are fully deployed on Phantasma Chain. Nobody is able to the stop any of the true dApps from running as a user simply gets the dApp data files through Phantasma’s decentralized file storage, not through a website.
Our file storage solution is not meant to be used to store large movies, large games and other large files, rather it is built for users who value privacy and ownership of their valuable files or for developers to store their dApp data files. Nobody can access your data without your private key or approval. Phantasma’s file storage solution is a showcase of how a proper decentralized file storage can be built on Phantasma Chain. For storage solutions of larger files, third party developers can build their own storage solution on top of Phantasma Chain and appoint & reward their storage nodes in the way they see fit. Phantasma Chain strives towards a self-sustainable decentralized ecosystem by building a robust blockchain with all necessary feature, one step at a time.
For more information about Phantasma Chain:
Website: https://Phantasma.io/
Telegram Channel: https://t.me/phantasma_io
Telegram Announcement Channel: https://t.me/phantasma_announcements
Medium: https://medium.com/phantasticphantasma
Twitter: @phantasmachain
Reddit: https://www.reddit.com/r/phantasma
Discord: https://discord.gg/rYfajr
Instagram: https://www.instagram.com/phantasmachain/
