How Shardix uses Blockchain
Much of the operation of the Shardix Network occurs locally on decentralized nodes. This is primarily the function of the SDSS, constituting storage and query service. It allows for operation efficiency and provides for increased ease of scaling. However, Shardix uses Blockchain as an integral part of its ecosystem and utilizes it for nearly all parts of the network’s operation.
For one, blockchain provides the payment system to support the transactions between Miners and Database Consumers. By nature, the mining network consists of numerous geographically disparate providers; each of these providers vary hugely in their total contribution to the network. As such, it would be extremely difficult to process payments to each miner using conventional billing systems. Transaction costs and delay would negate many of the efficiencies which the network contributes. Furthermore, with fiat, all transactions would be passed through some central entity; this would hamper decentralization and tether the success of the network to the continued operation of this central entity. By utilizing the blockchain based SDX token, decentralization is increased and transactions can occur directly between the two sides of the network.
In addition, Blockchain provides the market making mechanism to match up Miners and Consumers. Miners can offer a huge variety of database service tiers. This includes RAM vs SSD, CPU clock speed, and bandwidth pipeline. Likewise, consumers can specify precisely their required hosting parameters. Together, all these offers constitute the bid and ask books which is established as a dynamic contract on the blockchain. By viewing and writing to this book, the network matches the two sides, then writing the completed and digitally signed contract to the Blockchain.
The Blockchain also hosts the resource contracts between Miners and Consumers. These are contracts which specify all the parameters which the Miners’ service must meet. This contract will be hosted and not altered for the entire duration specified. Because this contract is public, peer nodes on the network then read this contract from the Blockchain and verify that no breach is occurring.
Together, these functions provide the basis on which the entire network functions. Thus, although the SDSS itself runs locally, blockchain is critical to its networked operation.
We continue to extend APIs and services that BASE provides to applications (application that were developed internally or by 3rd parties). Last week we added APIs that allow to prove ownership of Ethereum wallet (we changed the scheme from MatchICO, and now to prove the ownership you do not need to send transaction and spend GAS, you just need to cryptographically sign a message from the address you are proving). This week we are working on APIs and service that will compute your ETH/ERC20 wealth.
As by BitClave vision, all the above information is owned by user, is encrypted by user’s keys and user decides what information and with whom he is willing to share.
As the first product using BASE data, Desearch will allow businesses to customize their offers based on the “Wealth” parameter, that was computed and verified in BASE.
The exciting part that we were working on the week of March 12th and the week of March 19th was the soft launch of our platform — Desearch — a decentralized search engine focused on all things crypto. We announced the soft launch of Desearch to our user community as well as on ProductHunt. We have a detailed blog post covering the story here.
In the coming weeks we will be focusing on getting more feedback on Desearch and facilitating in making it better for everyone. We’re also coming up with more content on different platforms for Desearch and our future major product launches. Stay tuned.
Our Head of Growth, Pratik Gandhi spoke at The Crypto Con 2018 in Mumbai on March 23rd, 2018. There were around 100 attendees — mostly blockchain enthusiasts, crypto investors, businessmen and techies at the event. Over 30 delegates had come from all around the world to speak and present at the event with the likes of Per Lind from the IOTA Foundation, Joshua Paul Hawley from the Mauritius Ethereum Alliance, Evan Luthra from Almora, Vishwanath Shastry, VP from Unocoin and Abhishek Gopal, Founder of ThoughtBit Technologies to name a few.
Also, Stanislav Liutenko, the event manager attended the BlockchainUA event from the Distributed Lab.The conference covered great topics, including the government impact on the blockchain industry and others. Thanks a lot to Pavel Kravchenko and the team for the great job!
Also, our President Vasily Trofimchuk along with MatchICO business developer Philipp Tsagolov and Blockchain Developer Anton Bukov attended Blockchain day Russia. We had a great opportunity to get in touch with many different projects and discussed a possible cooperation between them and MatchICO.
27–28 March was a great day for us — we were represented with the booth at the Decenter Cryptoevent Moscow.
On March 27th our President Vasily Trofimchuk also managed to attend another event — Blockchain Congress.
Another event for us was Blockchain and Bitcoin conference in Kyiv. It wasn’t the first time for us attending the Smile Expo’s events and this one was overwhelmed with the great speakers and projects presented!
Also, the CEO of BitClave, Alex Bessonov attended Global Blockchain Investment Summit on March 30th.
A crypto airdrop is when a blockchain project distributes free tokens or coins to the crypto community to create awareness boostering referrals.
By doing this, awareness about a specific ICO or a token is created. Another positive result of this reasoning leverages on the endowment effect: people value a token they own higher then a token they don't own.
Crypto airdrop may represent also a way to increase token value. An announced airdrop, only addressed to already token owners, push new potential investor to acquire tokes in order to benefit the coming airdrop.
A variant is represented by airdrop proportional to the amount owned: the higher the amount owned the higher the bonus.
FIFA World Cup Russia 2018 is just a few months away. The fact is making fans all over the globe run towards booking sites and get their place in Russia. During the event, crypto users turn out to be very lucky as one of the host-cities Kaliningrad is delivering hotel services in exchange for cryptocurrencies.
Buying Business Travel Russia reported that Apartments Malina has teamed up with the online payment system, Free-Kassa, to allow users to purchase rooms with cryptocurrencies. A total of four matches will be played in Kaliningrad on Jun. 16, 22, 25 and 28.
“Crypto-currencies are now enjoying increased interest. Gradually they will come into use as a means of payment. And we decided that the fans should be able to pay for our services with the help of this innovative technology. It may very well be that other hotels [are] awaiting our example for the forthcoming football holiday.” – Anna Subbotina, Apartments Malina’s manager.
Other cities that will play the same role as Kaliningrad during the event are: Moscow, Kazan, Ekaterinburg, Saint Petersburg, Volgograd, Sochi, Rostov-on-Don, Samara, Nizhny Novogorod and Saransk.
Vitaly Lavrov – Kassa’s development director called the announcement to be a very interesting experience as the other cities have not made such an announcement:
“We did not have to cooperate with hotels and hotels in such a format. But the hospitality industry is very sensitive to such trends,” said Lavrov.
The chance exists that Saint Petersburg will also make such an approach towards crypto-users as Free-Kassa’s for the present-time collaboration with PSCB – Petersburg Social Commercial Bank is signaling the development.
Various regulations have been drafted out by the Russian Gov for cryptocurrencies and Initial Coin Offerings or ICO’s in the new On Digital Financial Assets proposal. But, not long after – the Ministry of Communications, Ministry of Economic Development, Ministry of Justice and the Central Bank of Russia have requested that the proposed rules to be softened for crypto-traders and users.
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