Introducing Storecoin zero-fee payments and p2p cloud computing platform

[Gubkat]

Has homomorphic encryption been used before in other projects?

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[VerDinr]

Has homomorphic encryption been used before in other projects?

This is a very interesting direction in encryption and it has several stages of development. Look Wiki. Some members of the team are real experts in homomorphic encryption and that's cool!

[gaerisk]

The team of this project is very experienced, because there are some team members and advisors from famous technology companies, such as Apple, Microsoft, Amazon... This concept is interesting mix between data cloud and cryptocurrency. Good luck fellows!

[Gubkat]

Using encryption should increase processing time, right? So usual clouds are better.

[Filatenw]

Using encryption should increase processing time, right? So usual clouds are better.

Devs said that performance will be comparable to centralized clouds, let’s see how it will be in real life

[Valeriiko]

I can’t understand why transaction fees don’t help with combating DDoS and spam attacks? It is like entry threshold, isn’t it?

[storecoindev]

I can’t understand why transaction fees don’t help with combating DDoS and spam attacks? It is like entry threshold, isn’t it?

A DDoS attack can be launched with a large number of legitimate requests or simply sending garbage to overwhelm the server capacity. In 2018, a 1.3Tbps DDoS attack was launched on GitHub for a duration of about 15-20 minutes. The motive of attackers in cases like this is to simply overwhelm the servers and more often than not, they don't care about sending *legitimate* requests. From the architecture perspective, you need to be prepared for the worse. So, we concluded that while transaction fees may *theoretically* combat spam, a determined attacker may not even care about sending real transactions to the network. So, a better defense mechanism must be built anyways, so why even pretend that transaction fees eliminate spam? In addition, micro transactions are possible on the Storecoin network, so it is possible that the network experiences an influx of large number of requests from time to time. We call this legal spam because the *traffic pattern* is that of spam, but the transactions are all legal. We have captured our research on DDoS and spam protection here.

- Storecoindev. 

[gaerisk]

I can’t understand why transaction fees don’t help with combating DDoS and spam attacks? It is like entry threshold, isn’t it?

I thought it’s only for dWorkers. Also, Storecoin addresses DDoS and spam attack concerns with a request rate-limiting design, which protects Storecoin nodes from such attacks.

[Filatenw]

Why did the creator decide that democracy will rule the world in the future? I think the world is going to the monarchical system, in which the project will not be relevant.

[Valeriiko]

Why did the creator decide that democracy will rule the world in the future? I think the world is going to the monarchical system, in which the project will not be relevant.

This is a political issue that is difficult to predict. But at the moment democracy prevails in most developing countries

[gaerisk]

“One entity, one vote” can be a real revolution. What will the government answer to the non-use of such technologies in the elections?

[Filatenw]

“One entity, one vote” can be a real revolution. What will the government answer to the non-use of such technologies in the elections?

Do they have an agreement with any country about using this system? Sounds interesting

[Valeriiko]

“One entity, one vote” can be a real revolution. What will the government answer to the non-use of such technologies in the elections?

Do they have an agreement with any country about using this system? Sounds interesting

There is nothing about testing “One entity, one vote” in roadmap

[Gubkat]

“One entity, one vote” can be a real revolution. What will the government answer to the non-use of such technologies in the elections?

Do they have an agreement with any country about using this system? Sounds interesting

There is nothing about testing “One entity, one vote” in roadmap

They said that their approaches are hence, practical. But I did not find evidence of this

[Filatenw]

The financial aspect is also very important here. The larger the country, the more voters. The more voters, the greater the cost of providing KYV.

[gaerisk]

The financial aspect is also very important here. The larger the country, the more voters. The more voters, the greater the cost of providing KYV.

Yeah, that’s why they rejected any technical architecture that is economically impractical (the cost is many multiples of traditional cloud computing services) or gravitate towards centralization on governance (like Plutocratic voting power)!

[Gubkat]

The financial aspect is also very important here. The larger the country, the more voters. The more voters, the greater the cost of providing KYV.

Yeah, that’s why they rejected any technical architecture that is economically impractical (the cost is many multiples of traditional cloud computing services) or gravitate towards centralization on governance (like Plutocratic voting power)!

This concept is very interesting though and very effective. A good team and Advisor board with a quite innovative product and a great vision. The user experience must be good as well. I think there is some potential on this.

[gaerisk]

The team appreciates all the support they get, really happy to see people so enthusiastic about the future and potential of the project, the team is set to achieve all their milestones and have this out soon. Thank you! 😉

[Valeriiko]

Does anyone know when the bounty will start?

[Filatenw]

Great initiative. Your project is promising and has good planning. I think this business will benefit many people. hopefully for a smooth development and many people who are interested in your idea.