ArchiCoin is a distributed storage that using the stable cryptography. Instead of a centralized server, the file system is formed by an unlimited number of servers in the Internet. Anyone can provide his or her disk space to participate in the unified world system of the protected data storage.
ArchiCoin keeps all data in the encrypted form. Access to the user files is realized through the private key. No one except the owner can get access to the information downloaded in the network. ArchiCoin allows to safely store, exchange or monetize any structured data. ArchiCoin is scalable and ready for large data.
When you upload a file to the ArchiCoin network, it is divided into parts, then these parts are encrypted and sent to a swarm of peers. Nobody stores the whole file, even in an encrypted form. Such method of data storage has obvious advantages over keeping data on a local server. Server with data can be hacked, closed, blown up or confiscated by the court’s decision. None of these can happen to the swarm of peers.
The advantage of the system is the possibility of storing both unstructured and structured data. All files will be indexed with the help of blockchain and distributed in the ArchiCoin network. The user also can create containers where the data will be distributed. It allows the creation of distributed database.
In addition to data storage, ArchiCoin offers a secure access to the user information without interacting with the third party. No one needs to keep records about the user files or information necessary for authorization, so only the owner has an access to data and decryption. Companies are spending billions to share personal or regulated data safely. They are looking for the methods of flexible access management to data. It is realized with the help of smart contracts allowing to adjust access to the data without the fear of the leak.
In order to create a storage that is stable to denials and censorship and which is also able to store any amount of data, an ecosystem is being built where the owners of the hard disks are motivated to store data from ArchiCoin. The award for providing disk space is distributed in the ArchiCoin tokens.
The mining system was created to motivate the miners. The system automatically (randomly, according to the lottery principle) distributes ArchiCoin as a reward for providing processing power to support the system. It encourages users to provide the space and maintain its quality. The entry threshold is reasonable, so it allows getting the results even with small resources.
Mining is expected for a long time, the number of coins is limited and the economy of the project ensures a stable demand for the tokens in the stock exchange to pay for services, and it increases investment attraction to join the project as a miner.
The main requirements for the donor of disk space are the terms, volume and quality of the service (with money and rating).
Also ArchiCoin mining has a number of profitable advantages over the mining of other popular cryptocurrency