The international data volume seems to expand tremendously fast. PR Newswire reveals that the market size of cloud storage is likely to reach $88.91 billion by the end of the following year. Many users use popular traditional cloud storage platforms, including Apple iCloud, Dropbox, AmazonS3, and Google One, and like their convenience and easy-to-use features.
It is also worth mentioning that these storage platforms have their shortcomings. While it may be unlikely to store web files with enormous data on a permanent basis, the overloaded data pressure in the single storage mode, spiteful attack, or any system crash may result in the upsetting destruction and loss of data.
Therefore, decentralized storage is crucially significant to enhance the storage marketplace. It is hard for several blockchain storage platforms to get absolute decentralization. Traders and holders use centralized servers to store NFT assets in the entire industry. They can lose their assets if centralized servers stop functioning. On the other hand, decentralized storage platforms are exactly what the blockchain storage market needs to save asset storage.
Recently, Datamall Coin, or DMC has joined the list of the decentralized storage platform. This new force is a decentralized digital currency released by the DMC Foundation. The DMC runs on the Datamall Chain and can replace customary cloud storage.
DMC refers to a kind of decentralized blockchain storage. It makes a decentralized trading marketplace through original data storage services to offer decentralized, secure, efficient, and open storage services to users. Datamall Coin provides an optimized way to deal with the inbuilt weaknesses of traditional centralized storage infrastructures and gadgets.
Datamall Coin takes on blockchain-based storage fundamental technology. It comes with relatively low hardware requirements and does not require professional maintenance for the refrigeration system. It allows DMC to reduce storage system costs to benefit every user.
Since users store the data collectively at numerous nodes, Datamall Coin obtains a higher network efficiency and availability. DMC stores data at several nodes in a distributed manner to have better data reliability, anti-DDoS, disaster recovery, and other built-in security features than centralized servers.
With enhanced data privacy protection, the DMC system segments and stores data at various nodes and uses an encryption mechanism to ensure data privacy and security. Generally, data storage at blockchain technology carries forward through transactions. Decentralized data can be a win-win solution as users can achieve rewards through leasing or renting. Datamall coin storage also works with a similar transaction system.
Users may want to understand how Datamall Coin storage works or who provides the storage space. The process involves miners with storage space and limited partners with funds to buy DMC. They collaborate to bet Datamall coin to achieve an equivalent quantity of Proof of Service Tokens and sign the PST maker agreement to offer storage rental services.
Miners can create the capacity and decide on the cost for the storage service to get bids, known as BidOrder. The storage system does not discourage users from making queries about their required storage service. These queries can be for storage services put up for bids and known as AskOrder.
After the storage supply and demand service transactions reach the final stage, it will lock the user’s DMC and miner’s PST in the storage delivery contract. Then, they enter the delivery processing process known as MatchOrder.
Getting to a transaction contract will require matching and striking a transaction between the supplier and the demander. This core improvement of Datamall Coin is known as the consensus list. Once a transaction contract reaches the point, the delivery contract will have to monitor the data delivery status of both sides and allocate parallel benefits and rewards.
When the process begins, the user will transmit the stored data in a peer-to-peer manner and may initiate a storage challenge to the miner. Upon the success of the user’s data storage and storage challenge, the user will be able to get their DMC unlocked and rewarded to the miner. The miner will also find their PST unclosed in the meantime.