0chain has announced a partnership with NEO Council to collaborate on dApp scalability, using the 0chain decentralized cloud platform. Together, the two organizations hope to help dApp creators with their computing and storage needs.
According to 0chain founder, Saswata Basu, “0chain is the fastest and most flexible, free decentralized cloud that allows dApps on NEO blockchain to move its off-chain storage and compute requirements to 0chain’s dCloud platform.”
Using 0chain, dApps developers may create new chains specific to the needs of their applications. The platform develoeprs are creating several protocols to optimize chain development and usage, including 2D-BPoS consensus, self-forking, storage, and inflation protocols for scalability, finality, and a free dCloud.
NEO combines blockchain technology with digital identity to automate the management of digital assets with smart contracts. Unlike most models, 0chain is reportedly free, where dApps hold tokens for free computing power and storage. The NEO Council hopes to attract more dApps to their platform with the decentralized cloud capabilities of 0chain to fast-track project development in their ecosystem.
NEO was founded in 2014 as an open-source project, with a goal of shifting our traditional economy into a “smart economy.” They do this by combining digital assets, digital identity and smart contracts. The digital assets consist of programmable assets that can be “decentralized, trustful, traceable, highly transparent, and free of intermediaries.” These digital assets may be transferred between user accounts on the NEO blockchain, and can be tied to physical assets, with digital identity used to show proof of ownership.
There are many applications for the combined use of NEO and 0chain. As 0chain has native dCloud storage, we can expect other decentralized cloud storage solutions like Storj Labs to look for new ways to compete in this space. From a use perspective, this may prove challenging, as 0chain claims to offer the service for free, while Storj charges $0.015 per gb of storage, per month, and $0.05 per gb downloaded. However, from an adoptability standpoint, Storj may offer better incentives to users to share their hard drive space with a profit sharing model.
Other decentralized cloud storage solutions include Filecoin, Sia and MaidSafe. All of these alternatives to 0chain store data using multi-region redundancy, with files distributed across many locations to eliminate the possibility of a single point of failure destroying a unit of data. Among them, Sia has raised concerns over ICO fundraising. In their view, most ICOs have delivered no physical results beyond a white paper, and focus too much on tokens being stores of value, rather than maximizing their utility. 0chain breaks this mold, with a functional product that can give rise to new projects that take advantage of its framework.
Regardless of which decentralized cloud solution wins the battle for market share and adoption by dApps developers, one thing is clear. Cloud storage prices are likely to become much more affordable as users discover this ability to monetize their unused hard drive space and centralized cloud storage solutions like Amazon AWS will have no choice but to adjust their pricing and/or model in order to continue to compete.
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