The Decentralized Cloud Storage has been becoming a bigger and bigger market. Existing Decentralized Cloud Storage Platforms like Filecoin, SIA, Arewave, and Storj are all in the cloud storage market. Many of which provide users with high security and privacy, low costs and high redundancy.
However, there are various challenges that the platforms face which includes:
- Long integration process
- No unified API or billing mechanism for Decentralized Clouds
- Developers are unable to reuse existing tools or SDK clients
- Challenging to combine multiple Decentralized Clouds in one dApp
- Difficulty in migration of Cloud Storage
So all these issues make it difficult for Decentralized Cloud Storage to function efficiently.
To address this issue, ColdStack, the Uber for Decentralized Clouds was built. Coldstack is a platform that provides users with unified API and unified billing. The platform purchases cheap storage spaces and optimizes it using AI-based pipelines which offers a single entry point to any Cloud. So the Coldstack platform will supply the users with the most affordable storage spaces from any Cloud.
What exactly is ColdStack?
ColdStack is the fastest, simplest, and most affordable way to unleash the power of Decentralized Clouds for projects within the crypto space and beyond. The design of ColdStack is for DeFi making it transparent, immutable, and cryptographically verifiable. So the platform is an aggregator of Decentralized Data Clouds that will provide simple and seamless integration in one platform. Furthermore the unified API will create easy data storage and retrieval that will be possible from anywhere and anytime!
There will also be no need for data migration needed to switch between various Decentralized Clouds. Additionally, the platform has NFT support allowing users to tokneize any uploaded file in ERC-721 and ERC-1155 standards. Coldstack will act as a universal digital asset storage for any NFT marketplace! Last but definitely not least, the ColdStack platform also has cold storage. So cold storage will best be suited for “cold” data which will be stored for a long time. ColdStack also provides cold storage much cheaper when compared to typical storages like Amazon Clouds.
Let's talk about how Coldstack works!
So there are three types of Nodes in ColdStack that allow the platform to run smoothly. Let’s dive a little deeper into the functions of each Nodes:
The Upload Node will handle all of a user’s interactions while uploading a file. It will host an AI- based pipeline, which is guaranteed to find the most cost-efficient storage solution.
The Billing Node will perform all billing, cross-chain, and cross-token operations used to calculate the payments and commissions. It will also be in charge of maintaining the exchange pools with DSNs tokens.
The Retrieval Node will handle all of the user’s interactions when retrieving a file. It will cache the files when a user makes a request.
So the three different Nodes work together to provide users with a safe and secure way of storage!
Tell me about the $CLS token!
$CLS is the native currency on ColdStack that supports various networks including: Ethereum, Polkadot, and Binance Smart Chain. The token will serve as a utility token that will fuel the entire ColdStack platform. A total supply of 50,000,000 $CLS will be available. $CLS will be used to pay for the platform and consumption fees. Furthermore the fees will be incurred by users that store and retrieve the data and will be rewarded miners who run the ColdStack Nodes. Apart from the fees, the token also has various other use-cases which include:
- Signing and verifying transactions
- Create and store NFTs
- DAO Governance
So the $CLS token plays a vital role in the ColdStack ecosystem. In addition, it will be a major focal point for the mass adoption of ColdStack.
What about governance?
As a decentralized platform, ColdStack hopes to create a fair and self-sustaining environment in which the ColdStack community is able to determine the direction in a democratic method. In order to encourage participation of the system, the DAO governance has several benefits. These benefits include:
- Trust and Confidentiality
In addition, ColdStack’s DAO governance model will allow the platform to become truly decentralized, giving all the control to the community!
What if I have complaints?
If there are any complaints, it will be initially processed by the responsible parties elected by the Customer Complaint Committee. They’ll refer to the responsible parties as Customer Complaint Experts. The party will be responsible for conducting initial investigations about the validity of a complaint and a node’s potential bad behavior. Once a complaint is validated, the experts will make a proposal to the Nodes Voting Committee about a punishment. The Nodes will then be fined or dismissed, and the necessary funds will be deducted from the Node’s deposits.
What are some example use cases?
There’s quite a few use cases for ColdStack. This includes Web3 Infrastructure projects, DeFi services, Blockchain-based games and NFT Marketplaces. So we’ll dive deep into each one:
Web3 Infrastructure Projects
ColdStack will provide clients with unified data management to deal with heterogeneous data in all sizes, which empowers their dApps with a Web3 based “all-in-one” experience.
ColdStack can store and retrieve large hybrid datasets for DeFi services. The data will not be frequently accessed but will be stored for a long time or even forever.
ColdStack will allow game developers to enjoy cheap and reliable storage for archived data regarding the player activities. All payments and rewards will also be transparent and auditable!
ColdStack will serve as an affordable Digital Asset Storage for any NFT marketplace. So Coldstack’s NFT is named nFCLS, and is compatible with major NFT marketplaces including SuperRare and OpenSea!
The Future Roadmap:
Subject to change depending on technical improvements…
Check out more about Coldstack!
Swiss bank UBS is reportedly exploring to offer cryptocurrency investments to wealthy clients. This move comes after more investment banks, including Goldman Sachs and Morgan