Innovative DataCoin (DTC) Features in-Blockchain Secure Data Storage And Revolutionary Web Applications Embedded in DataCoin Blockchain
Disruptive digital currency DataCoin features perpetual, secure and uncensorable data storage in its blockchain, eliminates transaction confirmation wait times, uses CPU mining with the same hashing algorithm as Primecoin, provides revolutionary web apps embedded in the DataCoin blockchain, and serves as its own decentralized autonomous corporation with a built-in business model.
Ian Boix, CEO of BlockchainCapital.com, considers Datacoin to be one of only four cryptocurrencies which “stand out for giving more value than a simple currency.”
Datacoin’s intrinsic value and key innovations are its decentralized data storage feature and the newly announced web applications embedded inside the DataCoin blockchain. Datacoin is currently traded for Bitcoin on digital currency exchange platforms Bter, Coins-e, OpenEX.pw, and BTC-8.
DataCoin provides the necessary replication needed for truly delete-proof data storage. Datacoin miners maintain a copy of the entire DTC blockchain on their personal computer. As files uploaded to the Datacoin network are embedded in the blockchain, they are stored on thousands of individual personal computers around the world; that number is projected to grow with Datacoin’s increased adoption. This data cannot be censored as it would be impossible to delete it from every individual participating computer. Furthermore, once data is uploaded to the blockchain, it is impossible to delete it. DataCoin will soon roll out the ability for users to upload and store their own personally encrypted data which only they can access, but which will have all the benefits of replicated storage the Datacoin blockchain offers.
Storage on the DataCoin blockchain is paid for with Datacoins. While current file size is limited, Datacoin will soon be upgraded to allow a file of any size to be uploaded. Whenever a user pays for file storage using Datacoins, those coins then go to reward the miners who both maintain the network and keep an updated copy of the entire DTC blockchain on their own computers.
Datacoin’s block generation time of only one minute allows for instant transactions, making Datacoin convenient to use for conventional merchant purposes. Datacoin transactions have the added benefit of being anonymous, which cryptocoin users have now come to expect.
DataCoin uses the same hashing algorithm of PrimeCoin, making it suitable for CPU mining. This means that anyone worldwide with a personal computer can participate in mining DataCoin. No one needs to purchase specialized hardware as is the case with mining Bitcoin. Just like with PrimeCoin, DataCoin mining is involved in a process which finds very long prime numbers or Cunningham chains. These numbers in and of themselves are useful for data encryption.
The DataCoin dev team has also recently announced the launch of web applications inside the DataCoin blockchain; meaning that anyone can build applications which exist in the DTC blockchain instead of the worldwide web. Essentially, websites, and many other online services can be copied to the blockchain in their entirety, and accessed by querying the locally stored DTC blockchain – even when access to the internet itself may be unavailable. This is highly disruptive; as the DataCoin blockchain itself can, in simple terms, contain another internet embedded inside it.
DataCoin provides both secure data storage and a way to pay for it. The DataCoin blockchain securely stores the data and DataCoins themselves are the means to pay for this storage. This not only makes DataCoin intrinsically valuable, but also positions DataCoin as a decentralized autonomous corporation with a built in sustainable business model. Many other DTC features are under development by the hard working DTC dev team. With its revolutionary secure data storage capability, blockchain embedded web apps, fast transaction confirmation times, CPU mining and built in business model, DataCoin could very well become one of the most disruptive digital currencies of 2014.
To learn more about DataCoin please go to: http://datacoin.info/
To trade DataCoin please go to: https://bter.com/, https://www.coins-e.com/, https://openex.pw/, and http://btc-8.com/
DataCoin web applications in blockchain thread: https://bitcointalk.org/index.php?topic=405992.0
Related News
Acronis , the Singaporean data security, and protection company has announced that the company will implement blockchain technology for data protection in the future A Singapore-based firm has expressed its interests to experiment with blockchain technology to strengthen its data storage and security services. Acronis, as the name is titled, has recently employed a research and development facility to look into the Bitcoin’s distributed ledger technology, while focusing on creating tools that can be used to protect data from getting corrupted, stolen or compromised. Is it something new?....
Tutors, taxi drivers and repairmen will be able to take advantage of Alfa-Bank's blockchain-based services. Alfa-Bank, one of the largest private commercial banks in Russia, is exploring blockchain technology in its services for freelancers. According to a Dec. 1 announcement, Alfa-Bank will use blockchain-based applications to automate services for freelancers and self-employed workers. Based on Waves Enterprise’s blockchain platform, Alfa-Bank’s new service covers the entire process of registration and remuneration for self-employed individuals, including payments settlement, income....
Bitcoin Blockchain presents us with endless possibilities. Apart from being a ledger for bitcoin transactions, Blockchain has expanded to accommodate various applications. It is now being increasingly used to create proof of existence, intellectual property management, medical records management, smart contracts and even internet of technology applications. Proof-of-Existence on Blockchain for IP and Innovation. Blockchain provides a secure, transparent and economical way to file and manage documentation. Each non-transactional entry on the Blockchain will have its own hash key which can....
Bitcoin has been around for about seven years and it has achieved great heights in such a short span. While bitcoin is already being adopted by a considerable number of people across the world, the technology that powers bitcoin transactions has become a bigger hit. Blockchain technology is behind all bitcoin transactions. Blockchain is a secure and transparent ledger that records each and every transaction that happens over the bitcoin network. All transactions needs to be confirmed on blockchain and the entry recorded to ensure there is no double spending on fraudulent transactions.....
Decentralized storage providers are proving to be the backbone of Web3, but what does this mean for centralized web service providers? The promise of owning and managing one’s own data is revolutionary, creating increasing interest in Web3 platforms and applications. For instance, recent findings show that the Web3 market was estimated to be worth around $2.9 billion last year, yet this number is expected to reach $23.3 billion by 2028. Web3 is also capturing the interest of venture capitalists, as Cointelegraph Research found this sector to be the most sought-after investment deal in....