Many people hold that the value of the blockchain project lies in the value of the token it issued, because token always steals project’s thunder to attract more spotlights. Of course, it’s unfair to merely blame investors’ impetuousness on the market. Instead, we don’t see real scenario for token application, in addition, projects can truly deliver value are very rare to see. A correct understanding on blockchain industry is that blockchain is a cutting-edge technology can transform the world, rather than a speculative game where investors “buy low and sell high” . But, its not a simple issue.
It calls for a right value conception to discard the idea of grabbing money by creating a new concept and it requires absolute patience and proven professionalism to upend an industry in a down-to-earth manner. To shed light on the essence of blockchain industry, storage public chain YTA (YottaChain) presents a new blockchain project, in which token is no longer a visionary thing, rather it has made substantial progress in the process of transforming the real economy, calling for the whole industry to forge ahead.
Value stands for “high cost performance”
It is easier to create a lucrative chance than keeping it profitable. It’s not easy for YTA, plans to apply blockchain technology to storage scenario, to break the siege already dominated by centralized storage heavyweights.
While YTA’s confidence is not built on the castle in the air, rather it is built on the founding team’s strong professional ability in the field of cryptography and storage for many years. Since inception, YTA is committed to creating a public chain project with business feasibility, which can beat centralized storage like AWS/Alibaba Cloud in terms of key technical indicators. Finally, with the launch of its test network going online on June 29, this high-profile rhetoric was honored : YTA became the world’s first commercially available storage chain featuring data persistence, data security, data availability, and disaster tolerance. With respect to the core technology indicators, its performance has increased by tens of thousands or even hundreds of millions of times compared to AWS, Google, Microsoft, Alibaba Cloud, Tencent Cloud and other centralized storage giants, while significantly reducing storage costs.
In other words, YTA can provide a more cost-effective storage service at lower cost. Partly thanks to the innate advantage of decentralized storage in the architecture, data can be stored in millions or tens of millions of edge nodes around the world, which can achieve further redundancy and fault domain isolation, therefore increase reliability by at least 10,000 times and availability 100 million times, and provide disaster recovery mechanism in “ten thousand centers”. YTA has fully demonstrated this advantage with its professional capabilities. To deal with inherent flaws in de-centralized storage in terms of data privacy security, YTA has exclusive “TruPrivacy” patented technology applying “zero knowledge encryption” and “cross-user deduplication, effectively making up for this weakness. At the same time, YTA reduced the cost by 5–10 times.
Is YTA only a token?
For all blockchain projects, token is a topic that cannot be avoided. YTA is no exception. YTA endeavors to take up the $100 billion storage market and overtake centralized storage represented by AWS. For this great ambition cannot be achieved overnight, we should take a long-term consideration on the value of YTA token. But its a certainty that YTA is based on real data storage applications offering multi-dimensional value. The holder can not only see it as a promising investment target, but also use it in exchange for a storage service with higher price/performance ratio than IT giants.
YTA’s token is divided into YTA equity token and HDD resource token. The number of released HDD is pegged to the total hard disk space in the system. Each time the storage miner contributes 1 GB of storage space, an additional HDD is issued. Because the value of the HDD is always directly related to the corresponding resources, the value is long-term stable. Users who use resources in the YTA system need to purchase YTA, then convert them into the corresponding resource token HDD. Due to the upper limit of the number of YTA issues, as YTA’s storage services are recognized by more users and system scale is gradually expanded, YTA will automatically appreciate.
At the same time, YTA plays the role of digital currency incentives to manage distributed storage nodes and ensure the quality of decentralized storage services. YTA has established a mortgage mechanism , which requires storage miners to mortgage a certain number of YTA tokens based on the storage space, so that obtain storage mining quotas and mining qualifications. With the mortgaged YTA frozen in the wallet, system account has the right to debit within the pre-authorization level. When online, storage node can mine and earn money, but when offline, it will be punished, therefore its online rate should be kept at a certain level.
It is worth mentioning that YTA’s patented “TruPrivacy” technology also wields magical power here, which can inspire more people to participate in mining and contribute their own storage resources. For each 1G space contributed by miner, the maximum of 10G storage capacity can be generated because of deduplication. Therefore, storage resources owners are encouraged to mine YTA, which can not only purchase more storage space, but also can earn more digital currency. So this is a wise option.
At present, YTA is in the process of optimizing and testing functions and performance on its main network, and intends to launch its main network-accounting network on November 20th . Meanwhile, YTA is turning the vision of “building world’s first blockchain storage ecology” to reality. With the widespread promotion of the “Dandelion Plan”, 500 ecological nodes are rapidly developing. In the future, additional 1500 ecological nodes will join YTA community. The size of the community users reached 2 million and still keeps growing. The first phase of Yotta Eco Fund endowed with 100 million RMB is setting up data centers nationwide…
“We will make breakthroughs in overseas markets next year and realize a certain scale of commercialization in the year after next. We hope to catch up with and overtake AWS (the world’s largest centralized storage) in scale in 3–5 years.” Bold to make pledge and brave to spear ahead, YTA presents us a new opportunity different with traditional centralized storage: each one can participate in YTA mining to join into great undertaking of decentralized storage. When YTA rides on the trend of storage world, are you ready to surf with us？