EOS.IO Storage is a proposed decentralized file system designed to give everyone the ability to permanently store and host files accessible by any web browser. Unlike some other proposed alternatives, there would be no upfront fee or ongoing charge for storage or bandwidth on EOS.IO Storage aside from a completely refundable deposit. Users must hold tokens while they need storage and bandwidth and may sell tokens when storage and bandwidth is no longer required. Built on the InterPlanetary File System (IPFS) and the EOS.IO software, EOS.IO Storage will be a service provided by block producers for those who hold tokens on a blockchain that adopts the EOS.IO software. The block producers would be incentivized to replicate and host these files, allowing anyone with an Internet browser to access them.
With EOS.IO Storage block producers could provide high bandwidth serving of videos, music, images and for applications like Steemit. This changes everything!
Download the PDF for the full white Paper.
Sweet love it keep on trucking
I really love the fact that you don`t really pay for storage rather only depositing coins into the network. You can always get your deposit back. Really interesting to see!
Awsome info, can't wait for new products to roll out of EOS.
these claims. "this changes everything!" Reminds me of bts "reimagine everything!" ok....if you want to us to hire eos block producers over AWS for storage you have a LOT of work ahead of you. come back when you have a product, track record and projected costs
@ned, it's just a whitepaper man, relax...
"The secret of change is to focus all of your energy not on fighting the old, but on building the new" - Socrates
If I read the paper correctly, it's operating on the same model as the Steemit isn't it?
Steemit "changes everything" because it rewards users for content they produce.
EOS "changes everything" because it rewards block producers for the content they host.
Both are different from the current blockchain economic models in that they make the service basically free to use, simulating current internet services like YouTube. When in reality they have a very clever model where new users are given tokens that are paid dividends which covers the transaction costs as long as the user holds them.
I understand building a decentralized storage system, or in EOS' case, a decentralized operating system, is much more difficult; but I see no reason why you would be skeptical of the same, proven business model.
We don't host steemit on the Steem blockchain and never would...there's a lot of layers of stack, convenience and security concerns that go into hosting a website that just havent been addressed in the slightest
Never is a dangerous word. Who knows what the future will hold in store? Maybe these guys will come up one day with a polished product, a proven trackrecord and a clear picture of projected costs. Maybe they won't (slightly bigger chance I think).
But "never" makes your comment seem emotional. Relax, 300K Steemit users are here to support this platform and its dev & management team.
this is helpful
In a long term AWS will become a EOS block producer 😁
I'm sure at least some of the producers will be running their witnesses on AWS machines, so yeah, you're technically right :stuck_out_tongue:
Even if EOS isn't cheaper than AWS, it provides a service that AWS can never offer: decentralized storage. EOS is setting itself up to be the best decentralized storage solution by far. As a bonus, it will likely compete with AWS on price.
it sounds like ur not a fan of EOS, @ned? Or perhaps a fan of the language?
I like that phrase:
For the first time, a decentralized, cryptographically-secured platform may be able to offer a hosting service competitive to the current freemium, centralized, providers.
Love the way that the EOS team plays level. Granted most demand concrete proof of capability but it's early days to make such demands and the goals that EOS has set are amazing. Most take the language in the white paper as flaky and pick it apart to feed doubt.. I'll remain bullish on it as I believe it has a bright future. In sixteen months I'm looking forward to the retracted statements and self inflicted kicks to the posteriors of those who have already started to run EOS into the ground.
Thank you for posting @eosio.
Appreciate the information and updates.
We are looking forward to the roll out of EOS.
Is there any chance it will have a early release?
All the best. Cheers.
Hey it's my steemit birthday :D I'm one month here :P yaaaay, I used like 1/4 of my sbd to promote my post about it :( such a waste :/
@eosio, that is very promising. So does that mean that if i have extra HDD space i can put it up for this?
Nice!
EOS!!! I see you!!!
EOS.IO Storage is another innovation EOS Operating System is bringing to the Blockchain industry. What will happen to project like Maidsafe, Siacoin, or Storj . Could they move to EOS Storage to take advantage of other features EOS is bringing to market?
I think it's a distinct possibilty, as EOS gains traction, new and existing projects will develop more efficient solutions, taking advantage of EOS custom application infrastructure and so on... Storj already changed its token platform from Counterparty to Ethereum, other projects have made simular changes and who knows what new projects are on the horizon.
So does this mean EOS will be making steps towards a multichain system using crosschain systems?
Dan is the man! Every detail is so well thought out. Block producers offering a freemium service is brilliant. It reduces barriers to entry for people into the EOS ecosystem. Well done.
Wow this concept is completely amazing!!
Question
How many block producers are they?
There is a lot of data around the world, then, in order to avoid the centralization, we need thousands of block producers.
Yes, there will be thousands.
the white paper says there will be 20 block producers elected by token holders, they will produce one block each, in a rotating schedule, the "delegated" proof of stake. There will be others competing to enter the top 20 but they will not be delegated to produce blocks unless they get voted in. From my understanding, each of these 20 block producer will have a copy of all the stored data, providing the distributed redundancy, and i guess any serious competitors will also need to provide a copy of all the data to be eligible to enter the elected 20... Once this data store grows large it will be only super well resourced operations that could compete for election. Have I understood this correctly?
I'd say you understand it pretty damn well! Somebody who knows more than us should provide further clarification if necessary.
If this is true we have a problem... 20 block producers storing PetaBytes? only big companies can do this. We need more and more block producers in order to avoid centralization.
One response I have seen to this concern is to say the DPOS with a voting system is the lesser evil in terms of centralisation when compared with the massive mining pools that have formed with the POW system in bitcoin et al... I would welcome some more arguments about this...
My point of view is the POW system in bitcoin is essentially DPOW (Delegated proof of work): If you want to mine you need to delegate your power to a pool, you can't do this alone. In addition, the pools are not part of the blockchain protocol, you have to thrust in the pool and its statistics of mining (total power hash, etc), there are no proofs.
The advantage of DPOS is that the delegated voting is part of the blockchain protocol. There is no need to delegate hash power, then there is no need to use electricity in hash power, then there is no need to pay to the people that delegate their vote, then the fees per transaction are reduced (free). We only pay to the block producer a little amount taken from the inflation of the coin.
In terms of technology I think DPOS is better, but in terms of centralization I think there is no big difference (only the part I've mentioned).
The centralization will be reduced in function of the number of block producers. What do you think?
Bitcoin is becoming more centralized as the miners, "block producers" begin to pool their resources. The key to limiting the number of block producers is two fold in that 1) if pooling resources (centralizing) is a constant threat, then its the same problem for thousands of miners as it would be for twenty, but only making 20 block producers improves speed and reduces friction 2) they are "voted" into position and can be "voted" out if they misbehave. You cannot vote out a bitcoin mining pool as there is no built in governance that allows for it. EOS provides the governance and therefore the constant ability to defend against centralization. I'm mostly paraphrasing the many videos that I have watched of Dan Larimer explaining Bitshares and Steemit, so I hope I have explained this correctly.
Great idea, can't wait to see what else the team have planned!
Our Mithril team is developing Dapp on the EOS blockchain. https://mithrilcoin.io
This storage support is what we've wanted. cool !!
broken link
What is Dapp?
It means a decentralised app
Just bought in this past weekend wish I had the cash to get more.
Sweeeet reading this now
thanks for the information. what your news is useful for us all ..
So this is something completely different than the main EOS.IO project, or something incorporated?
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"EOS.IO Storage will be a service provided by block producers"
So I would think incorporated?
Hm... So if we assume the costs are comparable to AWS and my bandwidth costs are about $100 / year. With EOS Storage I would need to deposit $2000 to cover those same costs since the payment is made via 5% token inflation. $20K to cover 1k / year costs. This seems like it may be a detractor for some.
You have higher inflation rate in Bitcoin and no free storage :)
how are you getting your numbers!?
$20K a year? wtf are you talking about?
Thats just an example if your comparable AWS fees are $1k / year. You wouldn't need to pay $20K - but vest it in order to cover the equivalent of $1K in Amazon bandwidth fees.
Sounds interesting, taking a look at the whitepaper now!
Very interesting solution.
great post
This is a very interesting solution. I like it. it is a way to change web hosting forever.
Nice announcements guys, but its not moving the price. I know you don't care and cashed out by now, but I need a pump here soon to get rid of some of these shitcoins.... shittokens I guess they would be called now.
EOS will not get pumped on news. The way the ICO is structured it is meant to evenly distribute the tokens as flat as possible. If you run the numbers you'll find that if EOS hovers around a $200m market cap once all 900,000,000 EOS are released (100,000,000 are being reserved for EOS team), then the EOS USD price will be about $0.20/EOS.
How can you possibly claim a 200m and 0.20 for a market cap and token price?
Simple math friend! And note that I said IF EOS hovers around the $200m market cap mark (which at the time of that post over a month ago was the place it was) then once all 900,000,000 tokens are released then we can expect about $0.20/token.
Outstanding Coins/Tokens x Price per Coin/Token = Market capitalization
So just do the reverse math to get the potential price given a pegged market cap!
So next time before you lob out a value judgement like "how can YOU possibly claim" make sure to engage people on Steemit with an open, inquisitive mind. It will pay dividends and you'll make friends!
Ah, gotcha... somehow the "if" got buried as I read through that. Damn dyslexia. Haha.
Of course, it's near impossible to state what actual market cap or price will be - hence was I was probably taken a bit aback by what read as a conclusive prediction of 20 cents.
If market cap were to stay the same as it is now, but the full supply of one billion tokens were in the market, then yeah. Though I wouldn't say that'd be a fair assumption to base on, as it doesn't take into consideration what apps are yet to come on the platform - which if significant, should drive the value up via the necessity for tokens to be held for their bandwidth.
And considering the performance specs and that Block.one has a billion in capital to start investing in app development...
Thanks for your clarification.
No worries and sorry to hear about your dyslexia.
I am buying EOS because I am nervous the market gets smart and sees how powerful the platform will be. That's why even though I think the value of the tokens will still decrease in the near term, I'm buying because if people wake up I don't want to have missed the boat.
Price is now $13.50. Good decision. People woke up!
Just hodl it. We have 8 months to go until EOS releases. I think that careful and calculated timing of the big news will be best for EOS in the long term. Releasing all of the big news today would leave us with 8 months of relatively nothing.
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STOPInteresting.
Oh Snap, RIP Storj and Sia?
Yes, rest in peace $Snap, Ripple, $STORJ and $SIA.
Nice post on purchase and selling of eos
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Help me out am new here @theojulius1996
I'm so exited for this project!
It's great to see the progress of EOS
Congratulations @eosio!
Your post was mentioned in the hit parade in the following category:
informative.....hoping for the new EOS
Sweet very nice idea. Helps me see how far and innovative we can get with this technology to benefit the consumer. There's just so many possibilities such as this, keep it up!
how is this different from sia or storj - a PoW based coin with some Dropbox feature
BURST coin with proof of capacity if far more interesting in this area
not to mention FileCoin is lunching as we speak and where the storage part is not just some addon but a crucial part of the blockchains consensus mechanism
You didn't read the white paper at all, did you.
There is even a section; Filecoin, Maidsafe, Siacoin, and Storj
You should read my post on the Bancor pricing equation.
https://steemit.com/scams/@roosterred/why-bancor-unless-it-changes-will-be-pump-and-dump-nightmare-for-investors
I am excited. These days on the internet will be remembered like the gold rush days of California, or the Renaissance. YUUGGGEEE!!
Nice!
Payout declined? Anyone can explain why?)
Wow, I see EOS everywhere now. Must buy some. :)
Super cool! Just bought more EOS!
I think EOS will take everyone by surprise, they are slowly tinkering out their whole ecosystem and it looks good.
And your damn coin keeps going down. Good way to thanks your early investors...
I wouldn't say that. Check out eos.io FAQs page https://eos.io/faq.html
"The EOS Tokens are not designed for investment or speculative purposes and should not be considered as a type of investment. " It's people's fault for living the ICO hype. There's a reason why it's called Token Distribution, not ICO.
Also keep in mind that statement is to cover their asses legally...
You are right!
You are wrong!