The Decentralized Storage Marketplace is now available from RIF!
A Decentralized File Storage is a system of being able to store your files without having to rely on large, centralized silos of data that don't undermine important values such as privacy and freedom of your information. In a decentralized storage system, instead of storing all the data in a centralized server, the data is distributed into different chunks and stored inside various nodes of a peer-to-peer (P2P) network.
IPFS is a protocol and peer-to-peer network for storing and sharing data in a distributed file system. IPFS uses content-addressing to uniquely identify each file in a global namespace connecting all computing devices.
As opposed to a centrally located server, IPFS is built around a decentralized system of user-operators who hold a portion of the overall data, creating a resilient system of file storage and sharing. It eliminates the need for websites to have a central origin server.
Monetise the Services
However, when dealing with smart contracts on a blockchain, every single transaction is monetised, and therefore paid for using gas fees. IPFS does not inherently have a built-in economic incentive… So who is going to “foot the bills” of storing files?
This is where pinning comes in! When a file is uploaded onto IPFS, it will only exist for as long as it remains pinned by the computer that initially uploads it. But since the uploader is part of a peer-to-peer network, for it to be accessible by other IPFS users, it needs to be also pinned by other computers as well. Economics dictates that those other computers aren’t going to go through the trouble (or expense), unless they are able to earn some compensation for doing so.
Enter RIF Pinning
We’re excited to announce the launch of RIF Pinning!
It allows a user to pay for the service of other computers on IPFS to pin their files. It also allows providers of IPFS pinning services to list their services, and set their price per GB per month… Just like a file hosting solution, except running on decentralized technology!
Of course, the payment for the services are in cryptocurrency: Your choice of RBTC or RIF tokens.
How do I use RIF Pinning?
If you wish to purchase decentralized storage and upload your files on it, the process is straight forward:
If you wish to provide decentralized storage and allow others to upload their files for you to host, the process is more technical.
Here are the detailed instructions, available on our DevPortal:
We’re eager to answer your questions.
Join us on Slack!
Previously published at https://www.rifos.org/blog/rif-pinning-a-decentralized-storage-economy