Decentralized Data Storage Chain: Utopia of Developers

Recently, DxChain founder Allan Zhang had an interview with SVIEF to introduce the vision and latest updates of DxChain project and the outlook of decentralized storage. Please refer down to the interview.

"The development of Internet makes oligarchs gain huge benefits, DxChain's ambition is to empower data subjects to control their own data and get payback. This is the utopia of DxChain developers."——Allan Zhang

At the Silicon Valley Innovation and Entrepreneurship Forum (SVIEF2019) held in September, Allan Zhang, DxChain founder and a well-known blockchain expert in the US, participated in the discussion about the development of the blockchain revolution. Contrary to the fact that blockchain technology is developing rapidly, many people know very little about blockchain. At the "Challenges to Blockchain Revolution into the next stage" panel, Allan mentioned that he hopes to build a solid blockchain infrastructure framework, solve the storage problems based on user needs, and make everyone a beneficiary of blockchain technology development.

Allan Zhang at SVIEF2019

DxChain is a large-scale decentralized storage network, and its cryptocurrency is affectionately called “Camel Token” because the logo is a golden camel. On October 12, we were glad to visit DxChain's office located in San Jose California and discuss the vision and latest developments of the DxChain project and his spirit for a decentralized storage ecosystem.

As the era of big data coming, a few Internet giants use their own data systems to collect and analyze user data to earn huge profits. No matter what competition outcome among these giants is, individual users can neither guarantee their privacy nor obtain any benefits.

“The DxChain team has been exploring the specific application scenario of the valued Internet since 2017, and we have made breakthrough progress this year,” Allan said. “We learned from Bitcoin and Ethereum projects, aim to reform the traditional unequal relations and economic distribution system of the data market and to empower data subjects to achieve data privacy, security and value.”

The subversiveness of the decentralized data storage system proposed by Allan Zhang is that the entire data storage process does not transit through traditional centralized systems (such as Google Drive, DropBox, etc.), but generated by blockchain technology. In addition, combine with DX token and economic incentive model can encourage more storage providers and individuals to contribute their idle storage capacity, as a result, improving the overall ecosystem resource utilization while achieving sufficient economic benefits.

Allan Zhang also pointed out that, "DxChain launched DxBox, a blockchain cloud storage application developed based on DxChain Testnet, is the best solution for data storage problems. You can consider DxBox as a decentralized Dropbox, but DxBox is based on decentralized data centers that take advantage of virtualization technology, solving the problem of cost and speed by utilizing its convenience and efficiency. It also ensures the security and reliability of the storage system through technologies such as encryption and sharding."

The file will be encrypted by the client’s private key, divided into shards using erasure coding algorithm and stored to different storage providers based on certain parameters, and thus providing data protection ultimately.

“I like the ‘freelancing’ nowadays,” Allan said. “DxChain aims to create a valued Internet ecosystem based on data. Everyone can benefit from their own data as freelancing, without workplaces, staffs or cuts took by other platforms.

The vision of DxChain is to give the benefits monopolized by tech giants back to individuals and realize the true value of data. It is the 'Utopia' of DxChain developers."

It is reported that DxChain released the Mainnet Alpha as scheduled a few days ago, showcased that DxChain has basically completed the construction of the public chain framework.

At the end of the interview, I specifically asked what’s the special meaning of DxChain's icon camel.

"The camel is large in size and slow in pace, but it is also stable and strong enough," Allan said, "I believe that ‘slow is fast’, just like the style of our team - steady and thoughtful, slow-paced but promising, bloom late but profound, this is the meaning of 'slow is fast'. In the impetuous Internet market, we have to dive in to find the real intrinsic value."

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About DxChain

DxChain committed to building a development platform for smart contracts and cross-chain ecosystem, and tend to create the most suitable public chain for decentralized applications.