0chain Whitepaper

0Chain – decentralizing storage

There are two relevant data trends. Data is expected to grow from 33 ZB (zettabytes) today to 175 ZB in 5 years. And the cloud is moving to the edge for performance and availability, driven by IoT applications, multi-player gaming, autonomous vehicles, and content streaming. Decentralization would accelerate this change and adoption, as it lowers deployment, management, and scale-out cost. To this end, 0Chain is decentralizing storage.

0Chain dStorage is cheaper and higher performance than traditional cloud. The protocols provide a layer of privacy, security, transparency, and service assurance. For consumers, the benefits are privacy, anonymity, and transparency. Developers have better customer data protection at a lower cost. Enterprises can scale out their data protection at a lower cost. For MSPs, dStorage provides a higher revenue potential.

The dStorage platform is built on 0ChainNet, a permission-less, fast finality, scalable blockchain, built from scratch in Golang. 0ChainNet protects its network from Sybil with a Nonlinear Proof-of-Stake protocol, and prevents blockchain stalls from DDoS attacks by using multiple leaders. Client protection is accomplished by using a Serverless 2FA protocol for individuals, and a cryptographic multiple signature protocol for exchanges and businesses.

0ChainNet offers innovative token economics which enables users and developers to get “free” services, such as transactions and storage. Users can lock ZCN tokens, like a bank CD, to get interest tokens immediately. Storage providers (“blobbers”) need to stake ZCN tokens to receive expected payment. As more applications use our network, ZCN will grow in its intrinsic value relative to the data stored on the network, and tokens locked for interest, as users interactively lock and stake tokens to participate in the ecosystem. In this sense, ZCN is the first crypto asset tied to data and interest.

Unlike Bitcoin, Ethereum, and other projects, 0Chain inflation is primarily driven by token holders desire to mint “interest” tokens, which are given to token holders for locking or staking their tokens, rather than “reward” tokens given to miners only. 0Chain has recently re-tooled its token economics to provide on-going rewards to support the community of developers and ambassadors as well. In addition, 0Chain has allocated a portion of team tokens to fund the reward tokens for the first 4 years after mainnet to maintain low inflation. After 4 years, the rewards will be generated by the network and the interest will be set at 5% to maintain an average target inflation rate of about 3-4%. This provides benefits to the entire ecosystem – miners, developers, ambassadors, and token holders at a low inflation rate.

0Chain Whitepaper Aug 4, 2019

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0Chain Documentation

 

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