What is SPOCK Chain?
Info:
A next generation of decentralized storage application platform.
Tag:
SPOCK chain is actively working to become the world accepted and widely used Decentralized Storage Network as other platform still struggles to launch their Mainnet and other functionalities.
Why:
SPOK is the name of the basic circulation unit within the SPOCK ecosystem and is the only commercial and financial delivery deadline. In addition to recording account balances and payments, SPOK can also be applied to smart contracts within the system. SPOK has a total of 4.2 billion, consisting of 8% of open pre-mined and 92% of POC+POS mining mechanism.
Specification:
SPOCK Network is a decentralized storage platform. In the early stage, SPOCK Network mainly stores Proof of Capacity (POC) consensus data to effectively utilize the most suitable decentralization technology to encourage miners providing hard disk space. At the same time, on this basis, the support of smart contracts has also been added to support decentralized applications and POC-type tokens. In the future, the data stored in the SPOCK Network will support documents in any format such as documents, videos, and images, and truly fulfill the ideal of making block chain technology beneficial to everyone.
With SPOCKchain Network, miners will be able to rent out their unused HDD for decentralized storage platform and client will be able to store their data on a cheap and secured blockchain network. Miners are rewarded with SPOCK (SPOK) coin. SPOK is the name of the basic circulation unit within the SPOCK ecosystem and is the only commercial and financial delivery deadline. In addition to recording account balances and payments, SPOK can also be applied to smart contracts within the system.
Technology:
SPOCKchain also support solidity smart contract with PoC-typed token. Developers and project owners can successfully build and deploy their own smart contract on SPOCKchain network, a feature which is already up with the successful deployment of Two (2) token namely;
1.Rhea (REA)
2.Electronic MovePay (EMP) token.
Token Trading Platforms:
SPOCKchain successfully launched its Mainnet on August 2019 which has since then on boarded more than Five thousand (5000) miners. SPOCK is actively being traded on CoinEX, MXC, VB other exchange including tracking on Coinmarketcap and Coingecko.
Majorly trading on our CoinEx Platform with 100% Spread.
SPOCK spirit:
SPOCK is the leading charactor in the American classic sci-fi series Star Trek. This character represents rationality, justice, and the courage to explore the unknown. We chose SPOCK as the project name to encourage the team's keep exploration of the new possibilities of the blockchain.
According to the latest report from MarketsandMarkets, the global cloud storage market is expected to rise from $23.4 billion in 2016 to $88.9 billion, with a compound annual growth rate of 23.7%. The demand for cloud storage is driven by many factors, such as the increasing popularity of artificial intelligence, IoT, and VR/AR. Cloud data storage has become the infrastructure of many new technology services, especially with the advent of 5G. Accelerate the explosion of cloud storage needs. With the availability of cloud storage solutions and services, the need to maintain local storage infrastructure such as disk storage and tape devices has been eliminated.
However, nowadays centralized private services are being replaced by decentralized open services, and trusted centers are being replaced by verifiable computing, precisely because traditional centralized data services face the following challenges: (a) hosting and distribution Data at the PB level is costly. (b) Privacy data disclosure and abuse. (c) Big data calculation across organizations.
Decentralized Storage Network (DSN) with Proof of Capacity (PoC)
In a DSN network, files are fragmented, copied, and uploaded to several nodes, and the corresponding data is maintained through a distributed hash table. Customers store and retrieve data by paying for network fees, and miners provide disk space and bandwidth to get rewards. This system allows client to store their data in multiple storage scattered all over the world fragmentally but could be access easily by the owner. Storing data in a decentralized and fragmented way on different storage provides more security for datas than on a centralized system where someone is directly in charge.
Proof of Capacity (POC) is a consensus mechanism algorithm used in blockchain that allow the mining devices in the network to use their available hard drive space to run blockchain nodes instead of their computing power (as in bitcoin Proof of Work). Today, there are lots of unused storage on hard drives all over the world which can be utilizes using PoC consensus. HDD owners will be able to rent their unused space by running PoC nodes and client rents out the space to store their data on the network. There are few PoC blockchain currently existing but SPOCKchain Network happens to operate a decentralized storage network using PoC consensus.
Here is the description in the white paper about advantage of PoC:
Environmental protection: When a mining machine is initialized, the mining cost is relatively small, requiring only a small amount of disk access and a small amount of calculations per block.
• Economy: Many PCs have unused disk space. The marginal cost of using these spaces for mining is small, with immediate rewards and can be used for mining. It is not necessary to consider the cost of electricity as a bitcoin mining machine.
• Equality: Today Bitcoin has become the world of Asics mining machines and large mines, and small-scale investors have struggled to participate in the bitcoin mining ecology, while POC-based mining machines are hardly faced with bitcoin-like The mining machine is constantly updating its iterations so that it is completely eliminated.
• “computing power” sharing: BCH is a BTC hard fork chain, so BTC's proprietary mining machine can also dig BCH, but it can't dig BTC and BCH at the same time, and the POC mechanism can make the hard disk for different chains. The spatial "computing power" data structure is consistent, and these "computing power" can be used to dig assets on these chains at the same time.
Smart Contract:
Smart contracts on Ethereum often reveal endless security vulnerabilities. When deploying smart contracts, SPOCK Network will detect smart contract vulnerabilities through intelligent detection platforms, so that the corresponding smart contracts can bring some security to make sure potential dangers are killed in the cradle
Community:
Telegram: https://t.me/SPOCKchain
Twitter: https://twitter.com/chainSPOCK
Website: https://SPOCKchain.org
SPOCK Explorer: http://www.SPOCK.network
Miner Dashboard: https://dashboard.SPOCK.network
Milestones SPOCK Chain:
launch the mainnet, got investment from Continue Capital and other token funds, IEO/IGO on the several exchanges, got free list on MXC by won the voting competition, released explorer, dashboard, desktop wallet, Android wallet, and SPOCKPool, all these things above happens in the last month!!!
For the short-term goal, SPOCK is trying to be the Ethereum with PoC consensus, so for the following 6 month to 1 year, SPOCK will expand the developer community to increase the dapps/tokens on its network. And also the final goal of SPOCK is to upgrade the consensus not only store the hash value, but also store documents, music, videos, etc. We’re still working on that part.
Why the name of Project " SPOCK"
SPOCK is the leading character of Star Trek, we choose the name to inspire the team to keep exploring the possibility of the blockchain world, sand the slogan of SPOCK is “live long and prosper”, which is also the hope of the team for the project, nowadays, too many fake mining projects out there, SPOCK wants to show the honesty and integrity by continually showing the code and improving the project.
Risks affecting the SPOCKchain:
If there is some way for smart miners to cheat to gain more rewards, we can update the full node program which can prevent the cheat. I think if that happen, community will support us to update the nodes in the network.
Finally:
1. The main issue of PoW is that it’s energy waste and it limits the miners nowadays, people basically cannot mine any PoW coins at home, they have to buy equipment’s and send them to some place with lower-cost electricity power which makes difficulty to ordinary people. The biggest advantage of PoC is that it save tremendous money on electricity power.
The PoS basically cost nothing to generate new coins, I think it would also be problem for the price, as people get the coins so easy, they may not value it.
2. I do want to share some opinion about all these PoC projects including SPOCK.I categorized the projects into two:
PoC consensus only: Burst/BHD/LHD/DISC/Boom/Newbi/Lava
PoC consensus + Smart Contract: SPOCK/BSN/Galaxy Network/EHD
For the projects in first list, these projects only talks about consensus and coins, but lack of usage and scenarios.
For the second lines, please check out and compare all the projects, none of them have launched the mainnet except SPOCK, while those projects started to mine with ERC-20 tokens.
I think the challenge is lack of acknowledge of Proof of Capacity consensus all over the world, the PoC introduce a new way to mine cryptocurrency, currently, SPOCK has a lot of miners in China, but not much in other places, spreading the consensus takes time. I think code/products shows hoesty and integrity, we have lots of plan to develop the network, while so many projects with similar ideas still runs on ERC-20, with time goes by, people will distinguish that.
Reference:
https://www.reddit.com/r/SPOCK_Chain_Official/
Last updated
Was this helpful?