[ANN][POW][AIRDROP] ScPrime - Decentralized Storage

[FaustianAGI]

Background
We celebrate the milestone of 50 storage nodes on the SiaPrime network by running the next round of financial incentives. The plan will evolve into a long term process of sharing revenues with storage partners recognizing storing data is a serious commitment.

Plan/Guidelines
Bring up a new node and receive 20,000 coins to help cover the cost of collateral. Stay online and receive ongoing monthly incentives*. New for Round 2, refer a friend who delivers a node (live for 30 days) and receive another 10,000 SCP as they also receive coins!

Nodes must meet the following guidelines to participate:
Minimum amount of storage offered to receive incentives - 750GB
Contract formation fees - leave at default
Bandwidth charges(upload/download) - 100 SCP minimum
Storage pricing - 2000 SCP minimum
Collateral - 2x Minimum (should be <3x to ensure a good score, 2.5x optimal)

After discussions of thin-provisioning at data centers, we've decided on a mixed incentive reward going forward. It is trivial to make a storage node appear much larger than it actually is, requiring expensive disk filling tests to verify. Our solution is to pay partially on available storage with a ceiling and on data stored. The benefit is this incentivizes more storage AND nodes setting aggressive pricing strategies to earn a good node score (and with it, more contracts/storage).

Reward schedule
.625 SCP/GB/Mo of storage offered up to 32TB with a 20,000 SCP cap + 10 SCP/GB/Mo of data stored

Example calculation 1:
Storage offered: 1500gb x .625 = 938 SCP + Data stored: 475gb x 10 = 4750 SCP
Total reward = 5688 SCP

Example calculation 2:
Storage offered: 64000gb x .625 = 40,000 SCP (20k over cap so reward = 20,000 SCP) + Data stored: 2250gb x 10 = 22500 SCP
Total reward = 42500 SCP

To get started in hosting, download our current client software.
https://siaprime.net/#download

To get additional coins for hosting, we are available on Bisq.network today and will be live on the Crypto-Bridge DEX soon. You can also mine profitably using ASIC rigs from Innosilicon, Obelisk, Bitmain and others. Once you are ready to host or have your node running, contact here or in our Discord.

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[cygan]

interesting update 👍
is it foreseeable when SCP will be listed on cryptobridge?
if rather this month or next

[FaustianAGI]

I received word from the CB devs they will start work on our protocol implementation this coming Monday 2/25/2019. They said custom protocols usually take 7-14 days. If all goes well, we should be on the exchange by the middle March

[FaustianAGI]

For folks interested in how we are doing with network development and bringing on new hosts, some of our awesome community members have created visual and statistical representations.

User reinisp recently started a host tracking site highlighting the amount of storage offered/used by active host storage nodes on the network
https://xn--ters-9ua.lv/observer/
(also includes stats for the Sia network)

Hakkane has an all-in-one stop for blockchain data and storage network stats. The host network section shows a rapidly growing cloud storage network
https://primestats.info/hosts_network

[PGPpfKkx]

I don't understand. What is the problem you are solving? How can this ever be cheaper that S3 itself?

If the problem is centralization, do you think that Amazon could *not* censor this platform if it's running on top of their services? 

[FaustianAGI]

I don't understand. What is the problem you are solving? How can this ever be cheaper that S3 itself?

If the problem is centralization, do you think that Amazon could *not* censor this platform if it's running on top of their services?  

SiaPrime does not run on S3. Our network is made up of individuals and datacenters contributing storage to a network of decentralized storage nodes. Because there is a lot of spare storage in the world, we are capitalizing assets already paid for. At the same time, there is a lot of overhead built into the S3 pricing model. Several traditional cloud companies significantly undercut AWS prices today. With our decentralized storage product, you get the best of all worlds; great pricing, a fully S3 compatible infrastructure and decentralization to protect your data from centralized breach/failpoints. Nobody can censor your data because it is sharded via erasure coding and always encrypted at the client before upload to the network. Using EC means any 10 hosts out of 30 can restore your data making the service far more secure than traditional centralized cloud services. Plus, we do on-premise and hybrid implementations that allow IT admins to decentralize files throughout the enterprise to save money.

Our product "works" today in a very basic version (not yet S3 compatible). We expect to have a shipping version by end of 2019 for business customers.

[FaustianAGI]

New Project Update for February

https://www.reddit.com/r/SiaPrime/comments/avhp3d/project_update_2272019/

[AmoreJaz]

New Project Update for February

https://www.reddit.com/r/SiaPrime/comments/avhp3d/project_update_2272019/

way to go SiaPrime!

SiaPrime is one of those projects that is usually aimed at people with some specific knowledge, but that is just appearance! The truth is that we have here the optimization and an improved form of SiaCoin, at least that will be the goal and of course, the practicality in meeting the people who need storage in a simple and practical way! I'm really glad to have known this project! And are there other projects with thoughts on getting SiaPrime storage? And if the demand is continuous, what will be done?

actually they need to work on that.
promoting their platform because people are not aware of how a decentralized storage works.
how will they benefit on this kind of storage? will there be advantages upon using this platform?
 how is it different from cloud storage available in the market? simple questions that you should see on their website for people who are not familiar how decentralized storage works

[antminerguruguy]

New Project Update for February

https://www.reddit.com/r/SiaPrime/comments/avhp3d/project_update_2272019/

I keep trying to be a part of some of these projects but I can never stand mining for nothing very long any ideas when this will be on a exchange and when and where we can get rich trading this for bitcoin like siacoin? 

[FaustianAGI]

actually they need to work on that.
promoting their platform because people are not aware of how a decentralized storage works.
how will they benefit on this kind of storage? will there be advantages upon using this platform?
how is it different from cloud storage available in the market? simple questions that you should see on their website for people who are not familiar how decentralized storage works

this is a fair point. Because we forked off of the Sia project, we have a functional base network layer/protocol that currently allows WORM style data archiving. We expect it will be sometime in the summer before we have an alpha of our software product running on the network. Before then, we'll get materials out that highlight the benefits of a decentralized solution over traditional cloud. The first 4 months have been mostly about getting a clean blockchain launch, enlisting storage nodes, finding new devs and laying out a software spec. That part is done and we're moving into pushing code now. Stay tuned, it's going to be a fun year!

The quick answer to the above questions are price, maintaining complete ownership/control over data and organic redundancy based on erasure coding vs geographic dispersion of company owned datacenters. All 3 require more detailed explanations and we'll provide these soon.

[FaustianAGI]

Added cold wallet numbers and links along with further supply information to the OP

[antminerguruguy]

Added cold wallet numbers and links along with further supply information to the OP

I dont understand where is the exchange for siaprime?

[FaustianAGI]

Crypto-Bridge is a mid-tier exchange with decent 30 day volume
https://coinmarketcap.com/rankings/exchanges/2

We paid for a listing with them and they are working on the integration of our wallet. When they complete, it will be listed.

[Hermes Mercury]

So, SC appreciated some exchanges and I ended up discovering SiaPrime! When will there be an exchange here?

[FaustianAGI]

So, SC appreciated some exchanges and I ended up discovering SiaPrime! When will there be an exchange here?

Thanks for your interest. We paid for a listing on Crypto-Bridge in January and are waiting for them to announce our listing. This should occur soon and then we'll use the trading volume established there to approach additional exchanges as the year progresses. Currently you can buy/sell on Bisq though there isn't a lot of liquidity. There are also people in our Discord (see OP) that are willing to buy/sell OTC.

[FaustianAGI]

Added the Software Specification to the website - Roadmap/Whitepaper to come
https://siaprime.net/software-specification/

[FaustianAGI]

Pleased to announce we are live on the Crypto-Bridge exchange!
https://wallet.crypto-bridge.org/market/BRIDGE.SCP_BRIDGE.BTC

Thank you to everyone for your patience. You can use SCP to purchase storage on our growing cloud network today, as well as use it for collateral to host storage and earn coins. There is a large number of Blake2b mining rigs for sale at very reasonable prices and coin yields for mining our blockchain are fantastic rn. Today, spec-mining our coin enters a new phase.

[FaustianAGI]

The SiaPrime Egg Hunt has arrived!



One lucky winner will discover a wallet worth 10,000,000 SCP.
Solve puzzles and get parts of a 28 word seed until someone unlocks the lucky wallet.
The first puzzle and contest rules are here https://siaprime.net/egghunt

[vanchain]

what is best to store here?

[nostawft]

The SiaPrime Egg Hunt has arrived!

Great idea. It took a while, but I solved it. Thanks for the opp to earn big coin!