The blockchain platform says big data is a huge problem and has launched a groundbreaking decade seeking to address the challenges posed by current storage solutions.
SINOVATE, a blockchain-backed decentralized cloud storage provider, created Infinity Specific Nodes (known as DINs) to provide higher levels of security and scalability compared to competitors.
According to the platform, large computer networks are currently facing millions of unauthorized login attempts, some of which are successful. Data leakage has also put sensitive data at risk, undermining consumer confidence and harming companies, whether it’s reputational or financial.
But SINOVATE says the problems don’t end there. Slow transactions and network congestion are common, especially if end users are far from the data center. The data is also ultimately controlled by third parties, and central servers often have high operational costs that are passed on to consumers.
With DIN, data is protected on external nodes – with redundant actions in the unlikely event that one node fails. The data is protected with a public key, which means that users must provide the transaction ID and their private key to access their files.
SINOVATE states that data uploaded to a network can also have different levels of protection. The content can be downloaded without encryption at all, which means that it will be available to all users, while secure one-way encryption means that the data can be accessed by the end user and nobody else.
SINOVATE claims that at levels of decentralization that few other cloud providers can match, more than 1,450 nodes are constantly connected to the blockchain at any one time. Enhanced e-governance aims to give users the ability to express their views on the features they want to see in the future. To ensure Sinovate continues to operate regularly as demand grows, the infrastructure is fully scalable.
The node operators are rewarded for their commitment, and the platform’s white paper adds: “As with other blockchains, the most significant SIN blockchain relies on hundreds of nodes around the world without worrying about boundaries or jurisdiction. Each node hosts a duplicate of the main SIN blockchain.
More information from SINOVATE here
Each operator is also obligated to keep the network alive by blocking and burning SIN coins in an endless node for 12 months, which limits the amount of coins in circulation and reduces selling pressure.
The introduction of DIN represents a departure from the traditional master nodes, providing a more secure and efficient network protocol and a simplified network interface that requires less CPU and network connections. All this results in a “indestructible and indestructible” data store protected by a Schnorr based multi-signature system.
Decentralized cloud 3.0
The SINOVATE blockchain is also supported by an indestructible data warehouse in what is billed as a decentralized cloud 3.0. The files can be easily saved for future use and can be sent anonymously to a peer-to-peer network. SIN Messenger also offers private messaging without storing data on Sinovate servers.
The SINOVATE team says they are continuing to advance their technology, creating an attractive low-cost alternative to Dropbox.
SIN token is constantly being improved to ensure reliability, security, and efficiency by integrating ad hoc and new technologies into the blockchain, creating a separate stacking algorithm or extending cloud scalability.
SINOVATE states that the goal is to ensure freedom of expression and eliminate censorship, while at the same time providing users with a more equitable agreement than they are currently receiving. The project also believes that blockchain technology could play an important role in establishing the legality and ownership of documents, including birth and marriage certificates, lawsuits, labor contracts, and other legal agreements.
Given the shortcomings of cloud storage today, SINOVATE hopes that governments, educational institutions, healthcare institutions, and financial platforms will adopt technology as a better alternative to the status quo.