Blockchain: Sharderchain, The Future Of Data Storage, An Immutable Solution
The blockchain is a revolutionary byproduct of the Fourth Industrial Revolution; a great change in our world’s technological ingenuity and one of the focal points of our collective transcendence into a Tier-1 civilization. The blockchain is immutable, it cannot be tampered with and it can be used to store immense amount of data; from land registry, educational records, medical records, corporate records, government documents, identity verification, escrow, intellectual property, e-commerce, global payments, remittances, peer-to-peer lending, equities, private markets loyalty programs and data ownership; the use cases for blockchain technology are practically endless. The blockchain has the potential to revolutionize every sector of industry throughout the entirety of the planet, as it is more secure than any other database that exists within our world today. Although blockchain is still in it’s primitive stages, companies like Sharder are perfecting this great new technology for the benefit of human civilization, particularly, in regards to The Sharder Protocol, to ensure that everyone has equitable and secure access to their data!
The Sharderchain is PoS and PoC which means proof-of-stake and proof-of-credit. Proof-of-credit within The Sharder Protocol is attached to specific accounts within the ecosystem. The PoC model derives it’s name from the (Conchchain PoS). The formula for The Sharder Chain’s PoS vary’s for different roles assigned to the network: for storers, the role is total storage volume, storage duration, online duration and the amount of penalties, for full nodes, the role is maximum transaction processing, block generation speed, fork convergence speed and online duration, a watcher’s role in the PoC system is to index service performance and online duration, the data owner’s role is data storage volume and transaction volume and lastly, the prover’s role is proof volume. Sharder Nodes are continuously rewarded as a means of incentive. “Self interest is but survival of the animal in us. Humanity only begins for man with self-surrender”-Henri Frederic Amiel. Bitcoin, the world’s first cryptocurrency and blockchain, is a proof-of-work blockchain, to give a brief a synopsis of what proof-of-work is versus proof-of-stake, proof of work is a data paradigm that is difficult to produce but easy for others to verify and satisfies certain requirements. Proof of work can also be described as the concept that the probability of a miner mining a block (an amalgamation of transactions) is dependent on how much actual work is done by the miner; due to the fact that more computers are needed to complete more work, proof-of-work can become centralized over time. Network miners compete against each other in the proof-of-work system to be rewarded with a block reward. The Sharder chain does not utilize proof-of-work, rather, the Sharder chain utilizes proof of stake.
Proof-of-stake is the concept that an individual can mine and validate transactions on their respective blockchain based upon how much Bitcoin or altcoin’s the miner owns (this incentivizes the miner to be actively involved in the cryptocurrency market, in particular, the coin within the blockchain they’re mining transactions for, which gives The Sharder Token/Coin within the Sharder Chain immense utility and value). As a miner obtains more altcoins, in this case, Sharder Token, the more power that miner has to validate transactions on the particular network. To incentivize people is to appeal to their self interest, The Sharder Protocol understands this paradigm of self necessity and utilized this primitive instinct of humanity within their ecosystem. Ethereum, one of the most well known cryptocurrencies in the entirety of the space, utilizes proof-of-work, however, a growing consensus within the Ethereum community has a desire to transfer over the proof-of-stake. The Sharder Chain is the first public blockchain to deploy The Sharder Protocol and is the cornerstone of the entirety of The Sharder Network. The Sharder Chain will be utilized as a testing ground in the development stage to ensure that all components of The Sharder Ecosystem are operating smoothly, effectively and efficiently.
The Sharder Chain is in it’s testing phase at this moment in time! More details are to come regarding it’s TPS (transactions per second), a crucial component of any blockchain! Being user-friendly in a new economic paradigm such as cryptocurrency is crucial, many investors within cryptocurrency have very little background knowledge of the intricacies of blockchain technology. The Sharder Protocol’s main focus is to ensure that The Sharder Chain is easily accessible to all who utilize it. The Sharder Chain has multiple use cases, beginning with a user-friendly model, digital assets within the blockchain itself, guaranteed transactions, customized API’s (API’s are verification protocols that execute requests made by two or more systems; it verify’s and identifies a particular calling program, its developer or it’s particular user to the website of origin). The Sharder Chain also has an operating support system as well.
Nodes And Network: The Spinal Cord Of Sharder-chain
The Sharder Chain has utilized a concept known as the “Kad Protocol” to construct a peer-to-peer network. The “Kad Protocol” is a peer-to-peer network which implements the Kademlia peer-to-peer overlay protocol. Kademlia is a distributed hash table for decentralized peer-to-peer networks that was created in 2002 by inventors Peter Maymounkov and David Mazieres. The way the “Kad Protocol” operates is fundamental for The Sharder Ecosystem and Chain; the “Kad Protocol” specifies the structure of the network and the exchange of information through node lookups; nodes communicate among themselves in essence. In the process, the virtual network is formed by participant nodes and each node is verified by a node ID, which adds onto the security of the entirety of the network by utilizing verification protocols, in this case, within The Sharder Chain. For those unfamiliar with what a peer-to-peer network is, it is the embodiment of decentralization; it enables two or more computers to connect directly with one another without the necessity of a centralized server. Utilizing a centralized server is a dangerous game of Russian Roulette due to the fact that the centralized server can shut down at anytime, especially if these centralized servers are operated by the state, succumbing to the ideological paradigm of despotism. Peer-to-peer networks give power back to the individual, allowing the collective consciousness of humanity to communicate with one-another while simultaneously embracing the ideals and principles of centralization.
In order to rapidly build a stable and equitable network as a whole with enough nodes within The Sharder Chain, Sharder will be releasing the Sharder Hub which is a lower-power consumption micro-miner and the Sharder Box, an all-in-one storage miner. The Sharder Hub and Box are crucial components to the flourishing of The Sharder Chain. The Sharder Hub can not only connect idle disk capacities to The Sharder Network, but it also ensures more stable online time within The Sharder Chain. With the embedded client within The Sharder Hub, as soon as an individual receives the Sharder Hub, they could start mining right out of the box and begin receiving rewards through the Sharder Hub and it’s proof-of-stake system. To add to the value of the token, a particular amount of Sharder Token will need to be staked in order to mine rewards, and in accordance to the proof-of-stake paradigm, the more SS token that is staked, the more rewards can be mined as a whole. If an individual decides to mine utilizing The Sharder Box, they can receive multi-fold rewards for sharing idle storage space within their computer and simultaneously for generating blocks (amalgamation of transactions within the blockchain, in this case, The Sharder Blockchain). Not only can an individual receive those rewards utilizing The Sharder Box, they will receive rewards for being “Watchers” within the network. A “watcher” within The Sharder Ecosystem observes the state of The Sharder Network, checks the security state according to the security strategy and also fixes existing or potential loopholes. Watchers will be constantly online to ensure the network is operating effectively, securely and efficiently. Watchers are perfect for data indexing and they’re necessary for the convergence of the entire Sharder Network. Watcher’s ensure the security of not only the network as a whole, but the data owners that entrust their data with The Sharder Protocol; Watcher’s would randomly perform beat detection on Storers to ensure data security and availability. As part of a additional security protocol, most of this work is done off-chain. The Sharder Protocol’s goal for watchers as a whole is to balance and check miners and storers within the network, ensuring data security and the avoidance of hostile attacks within the network!
The Sharder Chain consists of various layers that allow it to operate efficiently and effectively. The blockchain layer portion of the chain comprises all of the necessary blockchain attributes and modules including peer-to-peer network, the UTXO model (which is utilized by Bitcoin and Ethereum), distributed ledger technology, global book and the protosomatic Sharder tokens. The Data layer within The Sharder Chain implements the data operating, data sharding, replication and roles of Watcher’s and Prover’s as stated and defined within The Sharder Protocol as a whole. The asset layer of the Sharder Chain constructs user-friendly Sharder account models, connects tokens and data objects with accounts to form digital asset models and provides digital asset management. The module layer within The Sharder Protocol abstracts and packages modules and provides various transaction models based off of smart contracts. Many people within the cryptocurrency space have heard about smart contracts due to Ethereum, but it is important to explain what they actually are. Smart Contracts are terms of agreements of a transaction or negotiation written in code; smart contracts verify, facilitate and enforce cryptocurrency transactions and they prevent malicious software or hacking capabilities from occurring within a transaction or network as a whole. In a space comprised of hackers, thieves and deception, it is important to utilize the most state of the art security protocols that our society has to offer, smart contracts are state of the art security protocols. The Sharder Chain also has an interface layer, which facilitates the usage of blockchain and distributed storage service.
Bean Cloud: A Unique Business Application For Various Sectors Of Industry
Bean Cloud is one of the major dapps that were conceived within The Sharder Ecosystem. Bean Cloud is the data storage, proof and security platform that serves peer-to-peer finance and loans. Bean Cloud stores data such as e-contracts, payment vouchers, investment records and issues security and legal certificates that are traceable and unalterable. Imagine the broad utility this dapp has for various sectors of industry such as enterprises within the investment sector, financial institutions such as banks looking for security contracts for financial records and commercial enterprises can utilize this dapp as well for secure storage of information, which in return due to the blockchain’s immutability, will never be tampered with. The business applications for Bean Cloud are virtually endless and can be utilized by various companies, organizations and enterprises that have the desire to store their information in regards to micro-finance, e-contracts and e-commerce and with Bean Cloud, security certificates are guaranteed for any institution involved!
The Sharder Protocol’s goal is to deploy over 100 businesses during the Bean Cloud Beta; that’s right, over 100 businesses will be the goal for participating in the Bean Cloud Beta! Within our world, too many hacks and breaches of our privacy and information has occurred due to the ability to tamper with preexisting databases that are utilized within various enterprises and organizations. Remember Equifax, imagine if Equifax utilized this dapp for their customers credit information, utilizing the blockchain, every person’s information would have been secured and unable to be tampered with as a whole and security certificates would have been issued as another layer of security for Equifax customer’s and the enterprise as a whole, virtually destroying the chances of anyone’s credit card information being breached. The Bean Cloud dapp utilizes the blockchain because it can never be tampered with nor can the information stored within the blockchain be altered. Utilizing Bean Cloud and The Sharder Chain, we will greatly benefit the fields of public welfare, internet of things, supply chains and the sharing economy. Supply chains such as retail stores can utilize Bean Cloud when storing their transactions and their transactions are unalterable! The future development potential of Bean Cloud and The Sharder Network as a whole is virtually endless, the team’s tenacity and mental conviction to the success of this project is unprecedented and as we embark into the new millennium, The Sharder Protocol’s developments will continue to unfold and as a result, revolutionize the way we store data in the future; future change derives from contemporary revolution and The Sharder Chain is the harbinger of the great change that is occurring within the data storage sector!
Conclusion: The Sharder Ecosystem Will Revolutionize Our World Through The Blockchain And Dapps!
The Sharder Ecosystem aims to revolutionize the way we store data in a more efficient, more affordable and more secure fashion! The current paradigm of data storage is failing globally, we have seen this with the great Equifax hack of 2017. The Sharder Ecosystem and Bean Cloud ensures and promises that our world will never succumb to data breach or non-affordable data storage ever again. As we have seen with Bitcoin, Ethereum, Dash, Monero, Litecoin etc, blockchain projects and ecosystems from a financial standpoint do exceptionally well from a monetary standpoint, our sleeping giant is awakening from it’s ancient slumber. The revolution of data-storage solutions is here and centralized storage solutions are hopeless to stop it from happening. The Sharder Nation will prevail in it’s goal to revolutionize the way we store data in a more equitable, transparent and affordable manner and Bean Cloud will enable businesses from financial, retail and many more sectors of industry to utilize this unique app to securely store their transactions and finances as a whole! Sharder Empire!
Interested in learning about Cryptocurrency and Blockchain Technology? Enroll in my course on Udemy! https://www.udemy.com/cryptocurrency-investment-a-beginners-guide/learn/v4/
Disclaimer: Cryptocurrency investing requires substantial risk, do not invest more than you can afford to lose! I am not a financial adviser and I am not responsible for any of your trades. I am an investor of Sharder Token and the information within this article represent my own thoughts and opinions. It is incumbent that you always do your own research before investing in anything!
Create your free account to unlock your custom reading experience.