Data is becoming the new gold this millennium with the importance associated with it and related laws and guidelines being updated and more rigorously enforced. Due to the large amounts of data associated with our every action and the multimedia or official data, we have taken to storing, the limited storage space provided by our personal devices is a drawback. This is where online data storage services like cloud, which has become extremely popular with around 72 million users expected by 2020, come in.
Most speculators have failed to differentiate between the traditional centralized systems and the decentralized system proposed by Casper. This sector caters to mostly DApp developers who require a decentralized interface to organize data in a secure, profitable and innovative way.
The Idea
Casper supports all the existing feature of storage systems like cloud and improves upon them with additional features like automated content delivery.
Casper is a distributed data storage system based on the blockchain technology which lends the system its security and credibility. The main services provided by are the storage of data like audio, video, image and text files and backup as well as storage of corporate data. Casper is compatible with any application on any platform since it does not depend on any particular blockchain and can receive data from different blockchains simultaneously.
Using the smart contracts, P2P architecture and Lightning Network to make the system easier to use, more reliable and increase confidentiality respectively.
Smart contracts store the service provider register and act as the link between provider and user. In effect it regulates storage and work done.
P2P architecture provides resistance to DDos attacks and increases the geographical limits for working without compromising on efficiency.
Lightning Network is a private cryptographic channel through which providers and users can perform data operations confidentially.
Services Provided by Casper
- Storage of data and associated services like editing, deleting, upload and download etc.
- Backup at partner data centers to increase safekeeping
- CDN – Content Delivery Networks guarantees faster loading of website, faster downloading and increased stability.
Casper vs existing systems
- High-speed access to stored data
- Corporate level security
- Data protection using 4 different content service providers
- 3 times lower costs
Data is decentralized ensuring availability 24×7, increased accessibility and reduction of errors. Operations supported include upload, download, editing, deleting, access permission management well as virtual drive mounting. Safekeeping is guaranteed by also storing data in partner centers while the decentralized architecture allows faster downloads of data.
A separate token
Casper has its very own token CTS ( Casper Token) which is used in every transaction and provided to new franchises in order to support them initially.
To become a provider a token holder has to purchase a set volume (not subject to sale or lease) using the register(TokenCount) function in the smart contract. In the Casper API, users pay for services and providers are rewarded in CTS. Since service providers receive requests from different blockchains at a time, rewards are credited in CTS to improve transparency. The Casper API smart contracts are based on the ERC20 standard and allow free sale and purchase of tokens and lease under certain conditions.
Casper calculates prices per GB. Users pay for services monthly and for each GB downloaded while providers are paid for a certain GB of data they store on the rate agreed upon in the smart contracts. Providers are chosen automatically by the smart contracts themselves. Payment is in CST which can be obtained by exchanging BTC, ETH or USD.
In comparison with prices offered by its competitors, Casper sets the benchmark for storage and CDN services offered.
Casper aims to raise funds via an ICO sale on the Ethereum platform using smart contracts, after which mining will not be permitted. CST exchange rates are established as
CTS exchange rate= USD transaction volume/CST in circulation/CST circulation velocity.
The reserve fund created as a combination of CTS and USD will be used for mainly two purposes.
- Market making which is an action performed by Casper that may directly or indirectly affect the sale of CTS tokens.
- Marketing in order to strengthen their market position
Cloud System Infrastructure Services (IaaS) is the fastest growing cloud service with Amazon’s AWS controlling market share at the moment but with the ever-increasing popularity of blockchain more and more entities are backing the DApp system on the Ethereum network. DApp is decentralized blockchain applications.
Casper Business Model
- Clients purchase CST with Casper taking up 0% as commission on the current exchange rates.
- Clients now use these CST to purchase storage services through a smart contract.
- Depending on the work done, service providers are rewarded in CST.
- Providers now exchange CTS for other currency at existing exchange rates or sell them for profits.
Marketing
Casper aims to market the Casper API by showcasing how DApp’s are growing in popularity and the increasing benefits of using them. The API is a data storage solution for DApp on any blockchain network supporting smart contracts. Advertising is done through adverts on messenger applications like WeChat and Telegram, contextual advertising, ICO lists, and regular meetups and exhibitions.
Casper also organizes hackathons regularly in order to discover the best talent for the developer team in addition to providing support to startups in the sector.
The Team behind Casper
Casper has a team of eclectic individuals with a shrewd mind for the working of the industry that has helped the company grow to the point it is at today. Led by a team of founders comprising :
- Artem Koltsov, a Russian digital technology, and blockchains expert
- Vitaly Cheremensky, CEO and business management expert
- Stanislav Kapulkin, CTO and highly decorated mathematician and programmer.
Both Artem Koltsov and Vitaly Cheremensky are members of the Special Council on digital economies and blockchain technology under the Russian Federation State Parliament Committee
Casper has also benefited from the experience of a team of select advisors including Richard Wang, Ian Scarfe, Alexander Borodich, Cu Yuanzhang, David Kang and Shaobo Zhi.
Casper’s popularity can be gauged from its presence in articles printed in leaders like Forbes, CoinDiary, BTC News and BTC123
For more Details of Casper:
Official CASPER website : https://casperproject.io
Whitepaper: https://casperproject.io/docs/Casper_whitepaper_eng.pdf
Telegram – https://t.me/CasperProjectENG
Medium – https://medium.com/@CasperAPI
Facebook – https://www.facebook.com/CasperAPI
Twitter – https://twitter.com/CasperAPI
Reddit – https://www.reddit.com/user/CasperAPI
Github – https://github.com/Casper-dev
Post By Anton De Mel
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1770640
