Review of Casper API Project – It’s storage of large data with the blockchain…
|| Introduce of the Casper API project
With the development of new technologies, information has become particularly valuable. But for easy access from anywhere and security of data has been a real concern so, because of this problem important data is not stored on our devices anymore, it’s sent over the Internet to inaccessible servers (cloud). But security, lack space availability, and cost have been real problems in this industry. Now data is generated by not only people data is also generated by a large number of IT devices, drone technologies, self-driving vehicles, I robots. All of this wants enormous storage capacities, which will cost significant demand and a significant amount of money. This is where DApp such as Casper API will come in to play.
The Casper API offers a different approach to storing information. The platform allows anyone who has enough free space on the hard drive to rent it out. According to the developers, it will allow to reduce the prices for users three times.
Free space providers create smart contracts that initiate customer search among the participants of the ecosystem. When the user is found and the files are uploaded to the storage, the automatic debiting of payment from the client Deposit begins.
The system is designed to store files with text data, video and audio, 3D models, etc. There is a possibility to store the backup data. And it is cheaper, because the payment includes the number of downloads, that is, the less often the user accesses the files, the cheaper it costs decentralized storage.
The supplier within the project should:
block funds on your account at the rate of 1 Casper API token for 25.6 Gb of free space;
provide a disk for client files;
provide high-speed Internet channel and round-the-clock access to the storage.
The user can store their files or backups in the vendor’s storage for a fee. If the data is deleted, the smart contract returns the unused prepayment.
This project provides full transparency of all transactions, secure storage, favorable financial conditions. At the same time, all the usual functions of cloud services are preserved.
|| How it works.
Casper API works in a way that a decentralized application places an inquiry with the smart contract regarding available free space for content; in response, the smart contract sends the address of the server where the data can be uploaded. As the file is uploaded, Casper API copies the file to three more servers; in total, there are four copies of the file. The same number of copies is maintained in the future. When any one of the servers becomes unavailable, it is replaced by a new one, which downloads a copy of the file from the three remaining servers.
|| Payment system , Token and Ico details,
Casper token is the main part of the ecosystem that is used as an internal currency. The entire amount of tokens will be released during the ICO period, 1 GB of storage space will be equal to 1 CST. The tokens will be released as part of the ICO by a separate smart contract under the ERC20 standard. Tokens issued during the ICO can be traded on the exchange. After the end of the ICO, the tokens purchased during it can be converted into the CST tokens of the working smart contract. CASPER API is planning to raise $ 31,800,000 as funds. The minimum threshold for raising funds is $ 4,800,000.
The supplier receives payment for storage and unloading, and data download is free of charge. It transfers 15% of the earned to the Casper API Fund as a Commission. According to the developers, the supplier’s costs for equipment, communications and electricity will pay off in about 5 months.
The client pays for data storage in the format: gigabytes per month. The tariff is tied to the dollar, but is paid by internal CST tokens. This is done because the data can be stored in several blockchains in parallel, so that there is no confusion, one token is chosen as a means of payment.
CST can be used to pay, trade on cryptocurrency exchanges, or rent out to other members of the Casper API ecosystem.
Initially, the token and smart contracts will work on the Ethereum platform. Later, it is possible to use other blockchains. Token CST created on the standard ERC 20. All tokens will be generated during the ICO (July 2018), no additional releases and mining.
|| Team members
ARTEM KOLTSOVE is Head of the expect council for blockchain
and cryptocurrencies, Russian state parliament and founder of this project.
STANLSLAV KAPULKIN-CTO-Winner and participant of various competitions and start-ups in the IT AR a the co-organizer of the Hackathon hack Hacktherbrain in 2016.
NURLAN TLEGENOV is head of marketing in this project and he has Working experience in major corporate business for 6 years.
|| Project conclusion
This is projected that has a real-world application of blockchain technology team is very solid, experience and looks very promising. The Casper API should provide developers with access to economic and convenient decentralized data storage while ensuring maximum process security. As a result of the development of storage technologies and stabilization of the system, the developers plan to form a network of distributed virtual machines that will be able to handle AR / VR, loT, self-driving cars requests. This will be a very big step in this project in 2018 and will for sure have a successful upcoming ICO.
Official sources of Casper API Project;
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