The Datamall Chain Test Network, which is a pilot
project of DMC Foundation, was launched on January 31st at 20.00 hours (UTC-8).
DMC,
which is the abbreviated form of Datamall Coin, is a new decentralized
cryptocurrency issued by the DMC Foundation and built on the Datamall public
chain. The Datamall Chain Test Network, which is a pilot project of DMC
Foundation, was launched on January 31st at 20.00 hours (UTC-8). In this phase,
users can get access to a blockchain browser, which is a browser designed
specifically for blockchain users, to check their transaction status,
resources, blockchain height, and other useful information.
In addition to that, the Datamall Chain Test Network
will also facilitate users to create a decentralized account on the wallet
plug-in, and create multiple accounts on multiple public chains. There is also
a Node O&M tool, which can be used for automatic operation and maintenance
of the nodes. Users can check node status, restart the node and monitor the
normal operation of the nodes. The automatic backup feature helps the users to
download and restore the backup images. The Datamall Chain Test Network also
has an ABO mode, which is an economic buyback camp mode. Using this mode, users
can utilize the DMC Governance in different phases and re-purchase and destroy
real storage incentives in parts. They can also use the decentralized data
storage to earn rewards by using their free storage space, while also using the
storage products to access the premium storage services.
According to Mr. Victor, the chairman of DMC
Foundation, there are numerous advantages of the DMC storage project. "DMC
is a unique storage project on the blockchain that is designed for real Web 3.0
user scenarios instead of just miner perspective. Our level 1 protocol is
currently compatible with that of Filecoin, and will eventually be compatible
with other storage chains such as Arweave, Sia, Storj etc. DMC can
substantially reduce overall storage system cost through underlying blockchain
storage technology. At the same time, it uses a decentralized network to
effectively pool storage resources and present them to data storage demanders,
thus greatly improving storage efficiency", he stated during a press
conference.
"All the stored data are distributed on the
various nodes. Compared with traditional storage methods, DMC can effectively
avoid both cyber security and physical risks and offer a higher level of
disaster recovery. In addition to that, all the stored data are segmented and
encrypted before uploading. Users can't get data that do not belong to them
even if they directly access the data storage device. DMC makes user data truly
belong to the users themselves. Through community ecosystem service and smart
contract technology, we encourage users to contribute their free storage space
to promote our storage service and get corresponding rewards", he added.
Datamall Chain is a Silicon Valley team project which
focuses on blockchain storage technology. The global data storage is in need
for an integral and sustainable decentralized ecosystem, DMC is designed to
cater to the requirements of the market. The ecosystem consists of three
elements, a storage application layer, a storage transaction layer, and a
storage service layer. The storage transaction layer connects the storage
supply with the demand sides, and the participants, individuals and
organizations combined, are segregated into storage demanders, storage service
providers or miners, developers, traders, etc.
According to the chairman of DMC Foundation, the
structure of the ecosystem is huge, as Metaverse would need a lot of data
centers. They have set a one billion ceiling for the total number of tokens.
Users can buy storage spaces, and those who have storage space can simply
convert the same to DMC tokens. PST Casting Contract is used as the economic
model for all the transactions of the network. DMC has adopted a decentralized
storage service network and deployed Proof of Storage Service (PoSS) consensus
algorithm. It also has a reward system in place which gives out incentives to
miners to attract them in large numbers.
"It is the miners who have become a constant
driving force for the continuous improvement of the storage service capacity
ability of the DMC network. The collaboration between PoSS and the storage
transaction model not only guarantees fair incentives, but also provides a
powerful safeguard mechanism against node hijacked attacks and collusion
attacks. In our governance system, bonus point rewards called Real Storage
Incentive or RSI are given for users' real storage supply and demand
transactions. These are all mining incentives. Incentives stimulate the benign
and orderly development of the decentralized storage trading market", said
Mr. Victor.
"Earlier in January 2022, Brian Brooks, CEO of
encryption mining company BitFury, introduced the concept of "Web
3.0" to the US regulators to stress that Web3.0 is the future. By adhering
to a vision of "building a bridge for free data storage in the world",
we aim to make the perfect match between business thinking and market
opportunity. Also, DMC can handle each piece of active data in a proper and
secure way, and offer a stable and solid infrastructure for a more open, fairer
and more secure Web3.0", he added.
About Datamall
The Datamall public blockchain is an open-source blockchain underlying platform open to users worldwide, with a view to promoting the construction of next-generation Internet infrastructure and the development of blockchain technology.
