On the 16th of February, 2018 a new project made its announcement on the Bitcointalk.org forums: Market.space – Decentralized Host Aggregator. In the following article I’m going to summarize this project for you.
What is Market.space?
Market.space is a self-regulatory, decentralized host aggregator system for storage and transmission of data and direct content distribution. This system works as a marketplace where exchange mechanisms of pricing and unlimited number of participants underlie profitability. It is a highly transparent and utterly secure platform for functions like direct content distribution. It is accepting tokens from leading blockchain storage projects like STORJ and Sia Tech. It offers a transparent platform and utterly secure storage platform. It does not involve regulations, commissions or security threats. The contractors involved in the system are remunerated. Market.space helps overcome the limitations of blockchain based and cloud based modern data storage system.
Limitations of Blockchain based and Cloud Based Modern Data Storage Systems
Cloud based modern data storage systems have the following limitations –
- This system is vulnerable to security threats. As the storage of data in unencrypted, there are high risks of data leakage, account hacks and theft.
- This system is also vulnerable to disclosure of data to third parties.
- Data accessibility is pricey as most system require a fee to transfer data a mode with regular access from cold storage.
- Pricing structure of this system is inflexible. Usually the pricing is bundled with fixed storage volumes.
Though blockchain storage over comes the security issues faced with cloud based system Blockchain based Storage services come with following limitations –
- In this system, sometimes, data becomes inaccessible when it is required.
- The data access speed is low compared to other system.
- Devices used by consumers are highly vulnerable to corruption.
How Market.space Works?
Market.space is a self-regulatory decentralized system and has been actively involved in support and development of international data storage and transmission projects. The inception of this system rose from the need to have a reliable data storage system at affordable prices. This system uses p4p model for interaction of business and storage services. It works on a request and offer system for interaction between customers and contractors. It addresses needs of corporate clients by making use of encryption and reliability. It engages professional hosting providers by offering instant and round the clock access to data along with reliable storage. Along with data storage, Market.space also provides solutions that cater to non-standard needs of customers.
It has been developed by individuals with a rich experience in data storage systems, right from design to development and promotion.
- Contractors make an insurance deposit.
- A customer will send request for data storage. Details will include storage period, file size and more.
- Available host contractors make their offer.
- A list of best offers is calculated by the system,
- Based on rates and features, customer chooses the best offer and makes payment.
- Once the payment is verified by host contractor, a URL for file upload is sent.
- The uploaded file is distributed into chunks and encrypted using a private key. Once encrypted, it is sent to server of hosting provider.
- The file can be downloaded by the customer or someone with access permission using public key.
Features of Market.Space
- As the system uses decentralization, it ensures a high fault tolerance. This is particularly useful in case of vulnerability to DDoS attacks.
- The system uses guarantees contractors’ liability with insurance deposit.
- A metrics objective based rating system lets the contractors to fulfill their commitments while giving choice of contractors.
- The system involves storage of data that are delegated to experience hosting providers.
- The system ensures non-disclosure of identity of the participants as there is no centralization involved.
- The system has been devised and designed as a zero knowledge system.
- Each link in the system stands for an encrypted part of the file. The system is temporary as only the uploader and downloader can access the files.
- There is no fixed pricing system imposed. As it works as a market place, the pricing is affordable.
- A customer does not have to pay a flat amount. Payment is only for the time and storage actually used.
- The system can work with unlimited number of participants. Thus, it is a marketplace working on the offer and request system. As there are no analogous services involved, the services are highly affordable.
- The system is independent from any international or local regulations and legal norms that are associated with data transmission and storage.
- The system works on a distributed ledger system.
- Encryption is done at all stages. The system uses proxy or a chain of proxies.
- The data transmission of participants involved is remunerated.
- It involves encryption of files is done in two parts, thus guaranteeing data security.
- Environment Friendly
- Use of professional hosting providers instead of consumer devices makes data transmission energy efficient.
- Presence of professional equipment gives an efficient ratio of power consumed to volume of data stored. The overall emission of CO2emission is reduced globally.
- It also makes the entire operation cost effective.
What makes Market.Space Stand out?
Market.space is a completely reliable and super safe content distribution, transmission and data storage service.
Here are few benefits of Market.space that make it stand out from its competitors –
- It ensures round-the-clock data access.
- It uses blockchain technology to engage professional hosting providers.
- It provides the additional functionality of direct authentic distribution of different forms of content. It includes audio, video and text content.
- It provides the possibility for data centers and hosting providers to earn using leasing their unused capacity. Any power of processing can be leased, only the storage capacity matters.
- It allows seamless and secure transmission of data. It bypasses any intermediaries and their fees. Data storage is carried out responsibly in accordance with the algorithms mentioned in the smart contract.
- The system revolves around exchange based pricing.
The market for data storage services is experiencing a burgeoning demand. Market.space is providing a much needed flexible and affordable storage facility with its solutions.
- Q1, 2018: ICO
- Q2, 2018: Expanding the Team, Blockchain platform and smart contracts
- Q3, 2018: Legal & Economics
- Q4, 2018: Basic version of customer software
- Q1, 2019: Test launch
- Q2, 2019: Debugging
- Q3, 2019: Launch
- Q4, 2019: Further promotion and expansion
- Q1, 2020: Customer software for mobile platforms (Android, iOS)
- Alexander Rakhmanov (Founder, CEO)
- Eugene Parafiynyk (CTO)
- Irene Pashkovskaya (Marketing and Business Development Director)
- Vadim Zubkov (Marketing Director)
- Maria Lapuk (PR Consultant)
- Dmitriy Gonchar (Senior Software Developer)
- Vlad Alexeev (Front End Architect)
- Maksim Motovilov (Lead Developer)
- Oleg Romensky (Developer, Blockchain and Smart Contracts)
- Boris Sanin (Project Manager, Operations)
- Valentyn Smaha (Developer, Blockchain and Smart Contracts)
- Ivan Kurnavin (Head of PR)
- Vladimir Korovkin (Investor Relations Manager)
Token Sale Informations
| Start of Token Sale
||April 16, 2018 (11:00 GMT)
| End of Token Sale
||May 27, 2018 (11:00 GMT)
| 1 MASP (Token)
| Soft Cap
| Hard Cap
| Minimum contribution
| Maximum contribution
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