Decentralized storage is critical to Web3, and decentralized storage of Web3 data is the foundation for building widespread applications on Web3. However, there are no solutions on the market that can achieve this goal and the common solution is the multicopy proof based on a zero-knowledge proof. However, it has fundamental flaws that make it impossible to realize such a vision in the future.
We were pleasantly surprised to see a brand new decentralized public blockchain storage project called Datamall Chain abandoning the old path of zero-knowledge proof and innovatively embracing a brand new consensus called the “Nash Consensus”. It found the right way to achieve decentralized storage of big Web3 data. Now, the following will explain the disadvantages of the zero-knowledge proof-based multi-copy proof and explain why the Nash Consensus-based datamall chain has the potential to become a leader in the decentralized storage industry.
Disadvantages of the multi-copy proof based on the zero-knowledge proof
To learn more about a Web3 project, many factors need to be considered, such as: B. Tokenomics, number of users, number of ecosystem applications, token price, protocol completion, ease of use and more. While these factors are very important, more attention should be paid to the nature of a project, because the key lies in whether or not its technology has the potential to realize the vision it represents. To use a simple analogy, when the fire lock was invented, its abilities were weaker than the bow and arrow. It may seem that the bow and arrow is more valuable, but bow and arrow technology found that its capabilities had limitations, while matchlock pistol technology gave it far greater potential for the future. Therefore, it is important to understand the essence of the technology that has taken on the project, what it can do and where the bottleneck lies.
The core concept of Multi-Copy-Proof mode is to quickly verify that a miner has a copy of specific data. Then the miner who stored the data gets an incentive. While different projects may tweak the zero-knowledge proof or incentive model, the core concept remains the same. For example, the existing model of decentralized storage projects is that the miners who store more of the data on the network get more token rewards. Another approach is to encourage miners to store rare data on the network and more easily reward this behavior with tokens. This ensures that every piece of data on the network has been backed up by multiple miners and the data can be stored permanently.
But regardless of how they optimize their solutions, they all face a fundamental problem: all data is treated homogeneously in the blockchain. This means that all data has the same storage reliability, access performance, and storage cost. However, the importance of human data is very different, so the requirements for data reliability, access performance and storage costs are also different. For example, you might be willing to spend big bucks to keep your NFT, but might not pay more for regular photos.
For this reason, the multi-copy proof model based on a zero-knowledge proof is not viable. The existing models cannot meet all data storage needs, even if they can meet the needs of a small number of users, but the overall efficiency is very low, making large-scale commercial use impossible.
What’s new on the data mall chain?
DMC adopts a brand new Nash consensus to solve the problem of on-chain data homogeneity. Since different people have different storage media requirements, DMC adopts storage contracts to set up decentralized storage exchange, so that storage demanders and storage providers can be matched by Nash consensus and any kind of need is satisfied. Ordinary data can be stored in unused disk space at low cost, and important data can be stored in highly reliable mines. Ultimately, storage efficiency can be greatly improved and all idle resources are utilized. Then finally a decentralized storage of Web3 data can be achieved.
DMC’s Nash Consensus has the following three aspects:
1. prize game
The storage provider is free to set the price per storage space unit, and the storage customer is also free to choose the storage provider.
2. Guarantee game
If a storage provider offers storage space, a certain amount of DMC must be deposited as a guarantee. Should the storage provider lose data during the contract period, the deposit will be paid to the data owner. However, the amount of the deposit is not mandatory. Storage providers can set the deposit amount depending on the market and storage capacity.
3. Off-chain storage challenge game
For projects using zero-knowledge-proof mode, the chain must be memory-proofed. However, block generation speed is limited and memory scalability is low. The Nash Consensus is consistent with the tenet: “Matters are put in the chain only when there is a dispute.” This is similar to real-world logic: after the storage demander has signed a contract with the storage provider, the storage demander can initiate an off-chain storage challenge to the storage provider. If the provider has not responded or is not responding, the demander can start a memory challenge in the chain.
With the advancement of the Web3 era, data storage has become a crucial component. Traditional centralized storage faced numerous challenges related to data security, reliability, and censorship. However, with the continuous expansion of the decentralized storage industry, innovative and authentic storage projects such as Datamall Chain are emerging, giving us new hope. Let’s look forward to the development of these projects and how they will disrupt and change the future trends in data storage.
Visit the official DMC website for more information.
Twitter: https://twitter.com/datamallcoin
Discord: https://discord.gg/dmcofficial
Website: https://dmctech.io
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