/biz/ - Business & Finance

[Anonymous No.5245440]

can someone give me a use-case for oyster pearl? maybe i'm retarded but i can't seem to get what it wants to do.

it wants to act as a blockchain storage solution, similar to Sia? and then the script is placed on sites in lieu of advertising to do POW for these files that are uploaded?

am i missing something obvious? eli5?

[Anonymous No.5245715]

>user wants to store data in the cloud
>pays X PRL for Y GB data stored for Z years on the IOTA tangle (all data is encrypted, of course)
>paid PRL embedded in data map
>monetised site implements script that utilises small fraction of user CPU power to search for the PRL
>found PRL is awarded to website
>website profits from users without ads or paywalls
>plebs enjoy free content, hopefully script does not noticeably slow their device while browsing
>users enjoy decentralized cloud storage system for their data, not having to trust third parties or worry about security

It's a fantastic idea that solves 3 problems in one go:
- allows decentralised cloud storage
- ads suck and make browsing websites less enjoyable
- content creators are finding it hard to monetise content without paywalls due to adblocking

This is the first promising application for IOTA's tangle. It could be fucking HUGE, and getting in now while it's still basically in ICO should be considered.

[Anonymous No.5245756]

>>5245715
what's stopping me from continuing to use adblocker and use any other decentralized cloud storages

[Anonymous No.5245813]

Normies are literally going out of their ways to buy this shit. Get rekt, BZC is the only one they'll buy for fun.

[Anonymous No.5245839]

>>5245440
Confido 2.0: JOOSTy Boogaloo

[Anonymous No.5245971]

>>5245715
2 questions:

>paid PRL embedded in data map
i'm lost here (my computer science knowledge is mostly limited). is this similar to how miners in bitcoin are "searching" for the next block and get "awarded" the block reward? or is something else going on?

secondly: is a use-case also for the website itself to use oyster to store their own site's files? kind of like a decentralized server?

[Anonymous No.5245989]

>>5245756
Nothing. But if you wanted to support the content makers, without having to pay cash or without suffer through ads, you can do that. A good example would be for something like Wikipedia, or online newspapers. There are countless sites that would seek to monetise without having to resort to ads. You've seen for yourself how the rise of adblock has affected the internet: the number of sites that are willing to turn away adblocking users is growing each day. PRL is a solution to a real problem.

[Anonymous No.5246051]

>>5245989
Of course, I forgot to mention our favourite site in that list: 4chan. Infamous for being impossible to monetise. PRL could keep 4chan alive one day, in lieu of chinkmoot's charitable inclinations

[Anonymous No.5246231]

>>5245971
For all the technical details, you can read the whitepaper (and I encourage you to do so):

oyster. ws / OysterWhitepaper.pdf

The process is not the same as mining, which is where one block is added to a blockchain. It's more like treasure hunting - the value of the PRL tokens paid by the user is hidden randomly through IOTAs tangle, and there is an economic incentive to find them.

For the second question: yes, that is very much possible. The monetising website can either use the PRL tokens to upload their own files, or sell them on the marketplace to users who are looking to utilise the decentralised cloud storage. This gives the PRL token definite value, tied to an actual service that will be (hopefully) in demand.

[Anonymous No.5246405]

>>5246231
i'll check out the whitepaper for sure.

when you say the value is hidden through iota's tangle, PRL itself is an erc20 token, right? i understand an equivalent value is created on iota's tangle, but when you spend it, what happens to the erc20 version of the prl? is it burned or something?

thanks for your patience, you've definitely cleared a bunch up!

[Anonymous No.5246718]

>>5246405
Oyster Protocol is a storage protocol that builds on top of the IOTA Tangle (Directed Acyclic Graph). Nodes within the Oyster network us the Tangle as a neutral third party to negotiate work performance, completion, and compensation. Data uploaded via Oyster is ultimately retained across the distributed network topology of the Tangle. This ensures that the data is securely stored in a decentralized manner that exhibits great redundancy and failure resistance.

The Oyster Pearl (PRL) is an ERC20 token that exhibits unique qualities that are built upon the smart contract framework of Ethereum. Oyster nodes hunt for Pearls (representing the uploaded user data) that are embedded across file data structures that are retained on the Tangle. As the nodes search for Pearls via Proof of Work they inadvertently maintain the data on the Tangle, therefore securing it's retention. The Oyster smart contract only allows Pearls to be gradually released from their embedded state, therefore guaranteeing the data's integrity for the correct amount of time.

[Anonymous No.5246844]

>>5246405
>>5246718

That was from the Oyster telegram channel (which I also recommend you join, you can speak to the devs directly and they are very communicative).

My understanding of it is that the ERC20 tokens paid by the user are distributed to the Oyster nodes (in the above examples, the websites) as per a smart contract in exchange for their proof of work in maintaining the data's retention on the Tangle.

[Anonymous No.5247325]

This is so stupid, a more convoluted way than just running a Javascript monero miner.

Why would they want to rely on other people's machines for their access to their data?

This is like a worse idea than bat and at least they have a product and web browsers (and even I think bat is stupid)

[Anonymous No.5247382]

So much brainpower into a overcomplicated product

[Anonymous No.5247572]

>>5247325
>This is so stupid, a more convoluted way than just running a Javascript monero miner.
PRL has the additional functionality of providing a decentralised cloud storage system by utilising IOTA

>Why would they want to rely on other people's machines for their access to their data?
Do you know what the word decentralised means, anon?

>worse idea than bat
BAT is unironically a very good idea. If you can't see the potential in it, then you probably just haven't thought about it enough

>at least they have a product and web browsers
That's why BAT mcap is 350m+, and PRL is 1.5m and still in ICO. They plan on releasing testnet before 2018, watch PRL go 10x at least when this happens. PRL will rival BAT in mcap by mid-2018, ESPECIALLY if IOTA takes off (which it probably will)

[Anonymous No.5247574]

>>5245715
Pretty interesting stuff.