Taraxa Project
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Taraxa Project

Taraxa Echo: a Decentralized Social Data Network

Taraxa Echo Infrastructure Infographic

1️⃣ Echo Node

2️⃣ IPFS

3️⃣ Echo Smart Contract

  • Coordinates Echo Nodes: the Echo Smart Contract at random intervals, randomly assigns & shuffles which social groups / accounts each Echo Node is supposed to listen in on, and ensures there’s sufficient randomized redundancy (e.g., each Telegram group is listened in on by at least 5 Echo Nodes) so that there’s a way to verify the output.
  • Validates & Pays for Social Data: the Echo Smart Contract receives hashes (note: these are hashes of data, not the same as aforementioned IPFS hashes) intermittently submitted by Echo Nodes proving that they’ve collected data from their assignments. The randomized redundancy provides a basis to see if for the same data set, different nodes submitted the same hashes. Nodes that submitted hashes that fall in the majority are rewarded — e.g., if 4 out of 5 nodes submitted identical hashes, those 4 are rewarded, the remaining 1 is not.
  • Processes data requests from DApps: external apps (e.g., Hype, Trend Spotter) will need to request data from the Echo network. They will submit their request into the Echo Smart Contract, and then the Smart Contract will route the request to the appropriate nodes with a deterministic mapping algorithm, so the contract doesn’t need to maintain a list of node<>data mapping. Nodes then could submit encrypted (e.g., via hybrid cryptography) IPFS hashes to the requester upon, and then payment is released to the submitter.

🔎Current Focus: Echo Node

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