Use of blockchain technology, smart contracts, data security, cost reduction, resilience … A real magnet and engine of innovation, there are many qualities of decentralized storage. Used in addition to traditional storage, it can be a relevant solution for individuals and businesses.

Towards decentralization of data storage

Attractive in its simplicity, centralized online storage is used extensively by businesses , organizations and individuals. The hundreds of petabytes (1 petabyte = 1024 terabytes) of data passing through it are rarely encrypted.

Their accessibility is conditioned by the proper functioning and the good will of the operator who stores them. They are collected in Data Centers , veritable data factories which are subject to various risks that could affect their security and sustainability:

To reduce these risks, one solution is to increase the number of data centers. However, this only decentralizes the data storage from a geographical point of view. This always remains centralized , because it also remains in the hands of a limited number of actors.

Even if the French Orange Business Services, Scaleway, 3DS Outscale or OVH offer efficient solutions, the online data storage is for the most part managed by a predominantly American oligopoly (Alphabet, Amazon, Apple, Dropbox, Facebook, Microsoft, Oracle ,…).

This involves risks of compromise , freedom of expression (censorship), legal and economic security, or even sovereignty. In addition to the resilience of access to data, one of the challenges of decentralized storage lies in the elimination of the centralization of storage in the hands of a small group of actors, towards a very large number of actors. having no possibility of monopoly or scrutiny over the data they store.

Many definitions exist to more or less precisely define decentralized storage. To put it simply, let’s remember that decentralized storage is a system that shares the conservation of computer data between many independent operators.

Together, these independent operators form a sort of peer-to-peer storage network where data exchanges (storage and retrieval) can take place directly between different computers connected to the system, without passing through a central server. Operating in a network as well as encrypting data complicates and drastically reduces the risk of attack . Attacking a single operator is possible, attacking a network that has thousands of them is also possible, but technically and economically much more difficult to support.

The reliability and security of this type of storage are directly correlated with the number of operators using the network. By multiplying the number of operators, a decentralized storage network allows economies of scale by allowing anyone (companies or individuals) to participate as a storage provider (host) while monetizing their free space on their disk. hard.

How does it work?

A kind of infrastructure as a service (IaaS) of cloud computing , decentralized storage networks rely heavily on blockchain technology, an essential condition for their security, reliability and autonomy. Concretely, this is one of the methods of using a decentralized network.

When a user (tenant) wishes to store files online in a decentralized manner, he must use the services of an organization (company, foundation, association) of decentralized storage . This will provide it with software (generally open source) to access a decentralized network. This software will proceed to its “anonymization” (even if in certain cases the term “pseudonymization” would be more appropriate) , then will create different segments (or fragments) of its files before they are uploaded to the network.

These segments are encrypted and copied many times (redundancy), then distributed randomly to different hosts. This distribution over the host network is governed by smart contracts which set prices, availability commitments, and other aspects of the relationship between tenants and hosts. These smart contracts are then executed on the blockchain of the network supported by the decentralized storage organization . This allows the traceability and validation of segments of tenant files.

Based on blockchain technology, smart contracts are automatically generated and applied on the network. To execute, smart contracts need proof validated by the blockchain . For example, smart contracts may require proof of storage (proof of storage), of space (proof of space), of conservation (PoH), of service (PoSe), of space-time (proof of spacetime), replication (proof of replication), etc. These methods do not require any intermediary to function. If proof appears on the blockchain within a certain period of time, the hosts are automatically paid. Otherwise, the host is penalized.

When a tenant wants to access their files, they request it from the network which can use distributed hash tables to locate all segments and put them together. The tenant who downloads them has his own private key to validate ownership. Redundancy (multiplication of segments) makes it possible to completely recover a user’s original file with only a few segments (in a peer-to-peer fashion, without going through a central server). A guarantee of resilience, this means that even if one or more network operators are offline, data access is still possible.

As cidades chinesas continuam a promover o yuan digital através de loterias festivas

A cidade de Shenzhen lançou a terceira rodada de seu banco central piloto de moeda digital, na forma de um esquema de loteria promocional que oferece aos residentes esmolas durante as festividades locais.

Os residentes do distrito de Longhua na cidade chinesa de Shenzhen terão a oportunidade de participar de um próximo evento de loteria que visa incentivar a adoção da nova Bitcoin Era moeda digital do banco central do país – conhecida alternativamente como DC/EP, renminbi digital, ou yuan digital.

Anunciado em 20 de janeiro, a loteria está programada para 26 de janeiro, quando serão sorteados lotes para selecionar os 100.000 ganhadores que receberão um pacote festivo „envelope vermelho“ contendo 200 yuan ($31) em DC/EP. A moeda total emitida e distribuída para o evento será, portanto, de 20 milhões de yuans ($3,1 milhões) em valor.

Duas estipulações foram estabelecidas para aqueles residentes que desejam participar da loteria: eles devem ter adquirido seguro social das entidades comerciais para as quais trabalham e ter planos definidos para permanecer na cidade durante o próximo feriado de Ano Novo Lunar, também conhecido como o Festival da Primavera.

Estas condições limitando a loteria aos empregados das entidades comerciais participantes tornam esta rodada ligeiramente diferente dos dois sorteios promocionais anteriores do „envelope vermelho“ que foram realizados em dois outros distritos da cidade de Shenzhen: no distrito de Luoho em outubro de 2020 e no distrito de Futian em janeiro de 2021.

Assim como nos esquemas anteriores, a moeda presenteada será gasta em comerciantes selecionados que já se inscreveram no sistema digital yuan – 35.000 comerciantes no total – durante um período de uma semana entre 1 e 9 de fevereiro.

Os participantes vencedores não poderão transferir seu envelope vermelho para um terceiro

No anúncio do esquema, a mídia local apresenta o evento como parte dos pilotos atuais da nova moeda, como um meio de promover sua adoção e como uma forma de incentivar os funcionários de Shenzhen a permanecerem na cidade para o festival de Ano Novo Lunar como parte das medidas de controle da epidemia da COVID-19.

Como noticiado, os pilotos de loteria anteriores foram considerados bem-sucedidos, com a grande maioria dos participantes recebendo e gastando com sucesso seus envelopes vermelhos de moeda digital. Seguindo um esquema piloto de configuração ligeiramente diferente que foi realizado na cidade de Suzhou no ano passado, os comerciantes de comércio eletrônico também relataram um volume significativo de transações usando o yuan digital.

Na semana passada, o Banco Agrícola Estatal da China lançou os primeiros caixas eletrônicos de yuan digitais no país com o objetivo de orientar os cidadãos na conversão de e para a moeda digital.

Traders with too much leverage become victims of volatility again. $ 190 million was liquidated in minutes.

Bitcoin ( BTC ) slumped to $ 27,700 and rebounded seconds later, shocking some and financial ruin for others, data shows.

According to the on-chain analysis website Glassnode futures traders with long positions have a total of US $ 190 million alone on Binance in just one hour lost – more than ever before.

An exchange, 60 minutes, $ 190 million

These numbers underscore the current behavior of Bitcoin Up, which is orbiting new all-time highs and, along with ether ( ETH ), is considered the hottest asset of 2021 .

Long positions had seen almost unbridled growth for most of December into the new year. The upward movement met with little resistance.

Despite warnings from various analysts that the bull market could not last forever, many traders took a high risk and bet on further new highs. In this case, $ 34,800 was a definite spike. Then, within 24 hours, the BTC / USD pair dropped to $ 7,000. It even fell by $ 4,000 in an hour .

The result for those who had too much leverage was clear to see.

„190,000,000 US dollars (in long positions) were liquidated on #Binance within 10 minutes. Largest value so far,“ as Glassnode commented on a graph showing the Binance liquidations.

Risk versus reward

As Cointelegraph reported , short positions were liquidated en masse in the past week when Bitcoin broke the $ 30,000 mark for the first time. As a result, short sellers lost a total of $ 100 million on all exchanges.

„Get used to declines of $ 5,000 when we get into $ 100,000. That comes with the range,“ said Samson Mow, strategy director at Bitcoin technology firm Blockstream, summarizing on Twitter.

Trading in derivatives, which are linked to Bitcoin and Ether, continues to be extremely popular. The CME Group, one of the pioneers in Bitcoin futures, will introduce Ether futures in the first quarter of this year .

Wages at Bitcoin could become a reality in 2021. Already the first cases are flourishing in the sports world.

The first step in this new stage of usability of digital coins was recently announced. It is the elite sportsman Russel Okung, who is part of a prestigious NFL football club.

The Carolina Panthers‘ Offensive Tackle has been expressing its sympathy for cryptology for quite some time. In fact, for two years now, he has asked on Twitter for his salary to be paid in Bitcoin. Now, his dream has come true, and 50% of his income will be received in this digital currency.

How did Bitcoin wake up in 2021?
Okung case could extend the demand for Bitcoin salaries
The important thing about this is that Bitcoin, thanks to the current bull run that seems unstoppable, could be massed by leaps and bounds in 2021. That way, a growing number of athletes, could follow Okung’s example and demand their professional salaries at Bitcoin.

One of the main banners of the cryptomonger’s followers is that they come to replace money. The reason for this is that fiat money, they say, is a source of corruption and power for centralised bodies, including banks and governments.

This is what the American sportsman said. „The way money is used, from creation to diffusion, is part of power. Getting paid at Bitcoin is the first step out of the corrupt and manipulated economy we all inhabit,“ he said.

But beyond the philosophical issue, to which Okung is closely committed, are the economic advantages of Bitcoin. Less than six months ago, its price was about USD 10,000. Now, at the time of writing, it is over $32,000. This is a compelling argument for other athletes to want their salaries at Bitcoin as well.

However, it is noted that the club’s board does not make payments to the player directly in the cryptomoney. It does so through a payment platform called Strike, reported CNBC. In this way the problem is solved.

This platform, in parallel, would have already begun to work with other sports clubs such as the New York Yankees and the Brooklyn Nets. Analyst Chris Matta, consulted by CNBC, said that Okung’s move „gives Bitcoin more credibility“.

In this way, he explains, more athletes from different professional disciplines could be receiving their salaries at Bitcoin. This is no longer a distant dream, but a possibility that could take shape in 2021.

Facts to consider
For the first time, an elite athlete from the United States will receive his professional payments in cryptomonies.
This is an achievement that Russell Okung has been fighting for for more than two years.
With this conquest of the offensive liner of the Carolina Panthers, more sportsmen could be encouraged to receive their salaries in Bitcoin.
Other New York Yankees and Brooklyn Nets professionals would also be taking steps to emulate Okung.