A blockchain platform says big data has a big problem — and has launched cutting-edge nodes that aim to solve the issues associated with existing storage solutions.
SINOVATE, a decentralized cloud data storage provider that is underpinned by blockchain technology, has created Deterministic Infinity Nodes (known as DIN) to deliver levels of security and scalability superior to what’s offered by rivals.
According to the platform, major cloud computing networks are currently confronted by millions of unauthorized login attempts, some of which are successful. Data breaches have also resulted in sensitive data being compromised — undermining consumer confidence and damaging businesses, both reputationally and financially.
But SINOVATE says the problems don’t end here. Slow transactions and network congestion are common — especially if end users are a long distance away from a data center’s location. Data also ends up being controlled by third parties, and centralized servers often attract high running costs that are passed on to consumers.
Through DIN, data is secured on remote nodes — with redundancy measures in the unlikely event that a single node should go down. Data is secured with a public key, meaning that users need to provide a transaction ID and their private key in order to access their files.
SINOVATE says the data uploaded to its network can also have varying levels of protection. Content can be uploaded with no encryption at all, meaning that it will be available to all users, while secure one-way encryption means data can be accessed by the end user and nobody else.
Distinctive features
In levels of decentralization that few other cloud data storage providers can match, SINOVATE says more than 1,450 nodes are continuously connected to its blockchain at any given time. “Enhanced e-governance” is in place to put power in the hands of users, giving them a voice on the features that they would like to see in future. And to ensure that Sinovate continues to perform consistently as demand grows, its infrastructure is fully scalable.
Node operators receive rewards in recognition of their involvement, with the platform’s white paper adding: “Similar to how other blockchains work, the main SIN blockchain relies upon hundreds of nodes dispersed across the globe without concern for borders or jurisdiction. Each node hosts a replicated copy of the main SIN blockchain.”
Each operator also commits to support the network’s longevity by locking and burning SIN coins in an infinity node for 12 months — limiting the supply of coins in circulation and reducing selling pressure.
The introduction of DIN marks a shift away from traditional masternodes — delivering a more secure, efficient network protocol and a streamlined network experience that requires less CPU utilization and network communication. All of this results in “incorruptible and unbreakable” data storage that’s secured by a Schnorr-based multi-signature scheme.
Decentralized Cloud 3.0
SINOVATE’s blockchain is also underpinned by incorruptible data storage, in what is described as Decentralized Cloud 3.0. Files can be stored for future retrieval with ease, and can be sent on a peer-to-peer basis anonymously. The SIN Messenger application also delivers private messaging without data being stored on Sinovate’s servers.
The SINOVATE team say they are continuing to develop their technology — creating a compelling alternative to the likes of Dropbox at low cost.
The SIN code is constantly being improved to ensure reliability, security and efficiency by integrating custom and novel technologies into the blockchain, by building up a made-in-house stacking algorithm, or by extending the cloud’s scalability.
SINOVATE says its goal is to deliver free speech and eliminate censorship, all while giving users a far fairer deal than what they get at present. The project also believes that blockchain technology can play a powerful role in helping to prove the legitimacy and ownership of documents including birth and marriage certificates, court proceedings, employment contracts and other legal agreements.
Given the flaws that exist in cloud storage right now, SINOVATE is hoping that governments, educational institutions, medical facilities and financial platforms will embrace its technology as a better alternative to the status quo.
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