Ninjastic
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Board Announcements (Altcoins)
Re: [ANN] Storjcoin X (SJCX) - A Coin for Decentralized Cloud Storage
by
Moieur01
on 26/07/2014, 09:37:48 UTC
Quote from: super3 on July 26, 2014, 05:56:49 AM
Quote from: OmniEdge on July 25, 2014, 08:27:21 PM
Quote from: Storj on July 23, 2014, 05:42:02 PM
Quote from: Moieur01 on July 23, 2014, 04:14:00 AM
Quote from: super3 on July 22, 2014, 05:56:32 PM
Quote from: lvyuan95 on July 22, 2014, 05:06:32 AM
Well designed website, though I still don't understand how it works, how would 'Decentralized Cloud Storage' be possible? I don't think you can use blockchain to transfer files or the size is gonna be huuuuuge... Explanation would be good Smiley
This is correct, you would quickly run into something called blockchain bloat, and well as some terrible legal implication. Instead we can use the blockchain to "point" to a file on the network. This also allows us to support multiple decentralized data networks.

Not sure if this has already been answered, but which blockchain are you planning to use to store your file pointers? Its not the bitcoin blockchain, is it ??
No, in the Storjcoin X blockchain. We may integrate it later on into the Bitcoin blockchain if treechains or sidechains ever become a thing.

The Bitcoin blockchain is quite secure with so much computational mining behind it. How does the security of storj blockchain work? 51% attack?
So now that I think about it we can actually do both. We can store periodically store merkle roots or block hashes in the Bitcoin blockchain. Also considering also using notary chains as another solution.

yes, for possibly storing checkpoints into the bitcoin blockchain but nothing more