Introducing Storecoin zero-fee payments and p2p cloud computing platform

[Valeriiko]

Data explosion is a real problem and seems like this process will not stop.

I don’t agree with you. Now many people refuse to use social networks and reduce their information flow!

Yeah, but the growth in data usage doesn’t depend on people. Technology penetrates all walks of life and datacoins is a good solution

[gaerisk]

I don’t quite understand how to transform data into programmable money.

[Filatenw]

I don’t quite understand how to transform data into programmable money.

I thought that it looks like paid cloud storage, no?

[U]

Comparison between storecoin and 0chain:
https://twitter.com/StorecoinDev/status/1146125973206622208

[U]

marketcap comparison:

0chain:
https://cryptorank.io/currencies/0chain/price-chart
Supply Cap:1.8 M $,  Totall Cap:9.0 M$

storecoin:
https://storecoin.com/ppm
Current Cap:$33.50 Million to $43.14 Million
Estimated Year 2029 Market Cap   $129.05 Million - $166.19 Million

About 10x bigger than 0chain.

[Valeriiko]

how will you decide the worth of collected data? Why 1 MB = 1 Datacoin?

[storecoindev]

I don’t quite understand how to transform data into programmable money.

See pages 16-18 for details in our Litepaper.

- Storecoindev.

[Gubkat]

how will you decide the worth of collected data? Why 1 MB = 1 Datacoin?

I think that it depends on demand and rarity, online availability and accessibility and data licensing market value.

[storecoindev]

I don’t quite understand how to transform data into programmable money.

I thought that it looks like paid cloud storage, no?

There is no *cost* to end users to store their data like in decentralized storage services. If the data created by the users of the "tokenized apps" on Storecoin have value -- meaning, they back apps' datacoins -- then developers, app users, and Storecoin miners will all share the revenue resulting from data trading. While user data is traded, note that any sensitive information will go through context-sensitive anonymization scheme to protect data privacy. The user experience for end users will be similar to using traditional web or mobile applications in that they are *not* responsible for finding storage for their data.

- Storecoindev.

[storecoindev]

how will you decide the worth of collected data? Why 1 MB = 1 Datacoin?

I think that it depends on demand and rarity, online availability and accessibility and data licensing market value.

This is correct. While 1MB of data = 1datacoin, the *price* of datacoin varies from one app to another. In addition, if an app exposes different *classes* of data (similar to say, https://www.experian.com/assets/data-university/brochures/ems-list-services-catalog.pdf) and the buyer wants a *specific* class of data, the price may be different than 1 datacoin for every MB of data. Apps determine how their data is valued and set the price accordingly. 1MB = 1 datacoin holds true if you buy firehose of data from a given app.

- Storecoindev.

[chaoscoinz]

Will there be a bounty campaign for Storecoin?

[gaerisk]

The team and advisors of Storecoin are solid and it's good to see they have extensive experience in blockchain technology and cloud industry. It's very interesting in what they want to achieve for this project. Generally, the product is good and the idea of this project is relevant.

[Valeriiko]

Okay, 1 MB = 1 Datacoin. But how much will 1 Datacoin cost in BTC or in ETH?

[Gubkat]

Data production is growing exponentially, however just a minimal percentage is currently being analyzed, used, or monetized. Storecoin has an original idea that "improves" data quality, a market that is now valued at more than $3 trillion, and a gold mine for large corporations and governments.

[Filatenw]

One of the things that makes a project successful is the strong dev team. I see this in Storecoin

[gaerisk]

So if I'm not wrong you have both $STORE token and Datacoin but why don't you use only one of them?

[storecoindev]

So if I'm not wrong you have both $STORE token and Datacoin but why don't you use only one of them?

Datacoins are app specific, more like ERC20 tokens on Ethereum network. The difference is that datacoins are "backed" by schema-verified data created by respective apps. So, if the data is valuable, so would be datacoins. This gives freedom to app developers to price their data in units of their app's datacoins. Now, it is possible that a category of data (say, "weather data") is available from multiple apps hosted on Storecoin and it may be impractical for a buyer to pay in individual app datacoins to access data from different apps. Such cross-app data purchases can be paid with $STORE. All datacoins are denominated in $STORE, which makes this possible. Datacoins are emitted based on the amount of data created in the tokenized apps and no two apps will create data at the same rate or volume. This separation, where data is priced in app's own datacoins instead of tying its price to base currency, allows accurate representation of the "value" of the data.

[Gubkat]

So if I'm not wrong you have both $STORE token and Datacoin but why don't you use only one of them?

Yeah, monopolistic tech giants track and collect data about their users more than ever and Zuckerberg confirms it 😁

[Valeriiko]

I’ve never heard about homomorphic encryption before but Wiki helps me and now I understand that it is good solution.

[Filatenw]

I’ve never heard about homomorphic encryption before but Wiki helps me and now I understand that it is good solution.

As stated in Litepaper it allows computation to be performed directly on the encrypted data without decrypting it first!