Blockchain technology and the ICO´s are being the dynamic duo of the explosion of start ups these days. The case about which we will talk in this post is about an entrepreneurship of the marketing sector and cloud solutions whose interesting solution based on blockchain technology will explain: Oyster.
Oyster argues that in digital marketing sector creative content publishers are suffering due to the ad blockers’ arrival and a general indifference to what ads have to offer the public. Ads have always been a fundamentally weak proposition because they are intrusive, tangential, invasive of privacy and distracting from the cleanliness of a website.
Before this, Oyster presents itself as the solution. It is presented as the new radical solution that grants a revenue stream parallel to websites by adding a line of HTML code.
In practical terms, website visitors contribute a portion of their CPU and GPU power to allow users’ files to be stored in a decentralized and anonymous ledger. In exchange, such users indirectly pay the owners of websites for the maintenance of the storage of their data.
With Oyster anyone with a web browser can store and retrieve files in a decentralized, anonymous, secure, and reliable manner.
Oyster Pearls – PRL – is the native token of this platform, and is the bridge between a user’s motivation to spend money on storing data reliably and the motivation of a website owner to cleanly monetize their web content. Ethereum Blockchain’s Smart Contract technology is used to produce Oyster Pearls, thus activating the unique attributes of the token that allow Oyster to function.
Files uploaded through Oyster are stored in IOTA Tangle. This means that an excess of redundant duplicates are stored throughout the Tangle network topology, which mitigates the threat of data loss. Nodes running the Oyster Protocol perform a Job Test to ensure that Tangle retains the data.
All the activity in the network is economically motivated. No aspect of the Oysterb Protocol is based on altruistic actors.
As far as storage is concerned, personal information, user names and passwords are never used. Each uploaded file is assigned a unique identifier, which acts as a private seed key. Anyone who has the identifier can retrieve the Tangle data. Contracts in Ethereum Blockchain may hide who paid for storage.
The Oyster protocol is developed in a community-driven model without a single point of failure, 100% open source. Extension projects that arise can be built on the mesh-net topology and the protocol API. This allows building a full class of truly decentralized applications. Anyone can develop clients or extensions without the permission of a central figurehead.
The Token (PRL) is unlike any other currency, it is intrinsically linked to the market value of storage prices without requiring a back-up to back it up. The price of crowdsale is offered at a fraction of storage prices, therefore, early investors get massive gains with a low downside risk. The PRL token is the economic bridge between content publishers, content consumers, storage providers, and storage consumers.
The Oyster Crowdsale will begin on October 21, and will last until November 14. 500 million total PRL supplies were created.
The reference value is 1 ETH = 5,000 PRL
The storage value on the platform is 1 PRL = 1 GB / 1 year
For more information and details of the project and its crowdsale, you can review its White paper.