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Topic: [ANN]🔵🔵 OYSTER 🔵🔵 Anonymous Storage Generates Revenue for Websites - page 76. (Read 73403 times)

full member
Activity: 770
Merit: 156
MrRedPanda:

Quote
I will try to explain to you this matter at a possible life-cycle of 0.5 PRL:

You go along and use 0.5 PRL to save e.g. 32 GB (since 64GB/year is currently the minimum, the peg can be higher) of family photos for 1 year on the tangle.

What happens next?
You pay for the upload, the broker node is paying hook nodes to do the nessecary PoW for the upload on the tangle. Now the left PRLs of those 0.5 PRLs are getting split up in ~50% and ~50%. One of those ~50% are taken by the broker and the other ~50% are buried, set in a slow-release-state. [Numbers here are also just an example. They can still change]

Now web nodes are comming in ecosystem. Web nodes are people visiting websites, running the Oyster JS script. By paying with a little bit of their CPU/GPU, website visitors are getting access to the content provided by the website owner.

Those web nodes are 'treasure hunting' for the buried PRLs. For that they are getting 'treasure maps' from the broker nodes but they have to perform PoW first - meaning reattaching the filechunks of the upload you or others performed earlier.

Those found PRLs will get send by the broker to the website owners entered ETH-address.

The website owner can then e.g. use the PRLs for himself to store data on the tangle e.g. for his website, hold them, or sell them on exchanges.

Now you need another 0.5 PRL for another vacation picture folder. You are going to an exchange and buy those PRLs to use them for your next upload.

Repeat.

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full member
Activity: 406
Merit: 102
Republia - New Blockchain Technology
How long would it take for the speed to get to a more reasonable level because I inputed the speed into a calculator online and apparently it would take 9 hours to upload 1gb of data
It will only increase if there are many people participating in the network. And because of the difficulty adjustment, people would join the pool because for sure the rewards is high.
jr. member
Activity: 37
Merit: 2
Interesting concept, I like it much. Dev, what about testing? Have you already tested the net? And will there be an app fo Oyster?

You can test the protocol yourself:

http://oysterstorage.com/

But the speed of upload is very low, as this is a test net afterall. The devs said we can expect about 100x faster uploads when mainnet launches end of this month! And with further development of the protocol the only limit of upload speed will be your bandwidth.
newbie
Activity: 37
Merit: 0
Interesting concept, I like it much. Dev, what about testing? Have you already tested the net? And will there be an app fo Oyster?
jr. member
Activity: 112
Merit: 5
How long would it take for the speed to get to a more reasonable level because I inputed the speed into a calculator online and apparently it would take 9 hours to upload 1gb of data

The speed will increase based on the number of users participating in the project.
hero member
Activity: 827
Merit: 502
How long would it take for the speed to get to a more reasonable level because I inputed the speed into a calculator online and apparently it would take 9 hours to upload 1gb of data
jr. member
Activity: 37
Merit: 2
sr. member
Activity: 1148
Merit: 307

wow sell down continues ....

thinking about selling all prl and buying back at cheaper prices

Now it's too late. meaning that you could end up buying at the bottom. You should have acted immediately after the snapshot.

Buying at the bottom is what you should aim for.


He probably wanted to say "sell at the bottom".

Yes, sorry, a slip of the keyboard (a sort of slip of the toungue, but more permanent). I wanted actually to say "sell at the bottom". And the recent little bounce of the price seems to confirm my suggestion.
legendary
Activity: 2548
Merit: 1519
Oyster PRL is launching mainnet in April. Possible 10x short term, EOY 100x

10x long term is reasonable expectation. 10x short term is almost impossible.
End of the year 100x is not even a debate. We are also investors but we don't have unreasonable requests from Oyster.
newbie
Activity: 196
Merit: 0
Oyster has two testnets and a mainnet on schedule for release this month. More importantly we solve two legitimate problems. Eventually our protocol won't even need the average user to know anything about crypto in order to use it. This increases adoption potential

Yeah, because it solves the biggest "problem" people have. The fear of crypto because of all the FUD from MSM...
I went on a debate and one of the developers said, that crypto will truly make it big, when people won't now that they are using it
full member
Activity: 770
Merit: 156
William Halunen:

Quote
Because the Oyster Network is a fully decentralized system, it requires a trustless mechanism  to manage it's referenced value token; the Oyster Pearl. The Oyster Pearl is an ERC20-
compliant token on the Ethereum Blockchain that contains custom designed properties that enable the functionality of the Oyster Protocol.

A custom function specific to the Pearl token is the bury function. Burying an Ethereum address blocks Pearls from being withdrawn whilst still permitting deposits. Deposits to a
buried address are still enabled to allow Storage Users to potentially extend the lifespan of their data to prevent intentional data expiration. Broker Nodes invoke the bury function of the Oyster Contract when initially uploading a file to the Tangle. The Pearls that are embedded in the Data Map by the Broker Node are withheld by the Oyster Contract and are therefore unspendable.

As Web Nodes seek treasure they will encounter private seed keys of Ethereum addresses that have had the bury function invoked on them, therefore locking the Pearls from being withdrawn all at once. Therefore anyone who retrieves the private seed key, Web Node or not, will not be able to withdraw any Pearls via the typical transfer function that is invoked on all ERC20-compliant tokens. A Web Node must ask a Broker Node to invoke the claim function on behalf of the Website Owner's Ethereum address. The claim function can only be invoked on an Ethereum address that is in a buried state.
legendary
Activity: 1372
Merit: 1001
In fact, this is impact of launch of MainNet that market was suppressed heavily. It is enough to understand at airdropped snapshot time and platform's launch date reaching near where do you see price dumping ? Oyster is full of potential for every season from short to long term based investment. It is recovering as weak hands may have gone already.
legendary
Activity: 1764
Merit: 1012

I agree with the potential of oyster but making an assumption like 10x short term or 100x only disappoint yourself and fools the newbies.

newbie
Activity: 121
Merit: 0
Oyster has two testnets and a mainnet on schedule for release this month. More importantly we solve two legitimate problems. Eventually our protocol won't even need the average user to know anything about crypto in order to use it. This increases adoption potential
member
Activity: 238
Merit: 10
While i agree FUD and purely speculative price discussion doesn’t belong here, the dictation and censorship of discussion comes off negatively IMO. Especially for a project that aims to bypass “political and corporate censorship” with their project
member
Activity: 280
Merit: 10
Why is this always brought up. The expected behavior in here is pretty clear. We made another venue for our members to almost say whatever they want. Hell the admins are even being insulted in there and we let it go. But we are trying to change the culture in this channel, from one of nonsensical doom and gloom talk to being a place of intelligent rational logical discussion. Price talks constantly snow ball out of control and snuff out any constructive conversation.
member
Activity: 350
Merit: 10
Oyster is giving hope to the online advertisement world, Adblocker migth be against this,with proper segmentation of online advert everyone will be satisfy, unnecessary advert pop up can be so frustrating to website surfing. sure oyster team will meet the needs of everyone,that is both the advert agency and the website user. This project is worth a lot of success Grin
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