Computing power, storage capacity, and network transmission are the three pillars of Internet technologies. It is widely believed that the integration of blockchain and these three technologies will spark a technological revolution.
DxChain, a Silicon Valley startup dedicated to data storage and computing, and NKN, an emerging project which aims to develop a blockchain powered communication network, shares the same vision: Leveraging the functional characteristics of blockchain to create a shared economic model that encourages everyone to become a network node that shares idle storage, compute power and network transmission capabilities.
The two chains recently announced a strategic partnership to provide a technology solution for the blockchain ecosystem.
The current Internet is highly centralized leaving control in the hands of a few operators. With the repeal of net neutrality earlier this year, these operators can now limit the access and network speed for any user or website for any reason. We need a better solution to guarantee fairness and openness.
Many problems we face in the area of storage and computing are also rooted in centralization — large amounts of data are controlled by a handful of Internet giants, allowing them to profit or even sell user data. These companies have not had the best record of protecting our personal data. Just recently, The Wall Street Journal reported a security breach that compromised the private user data of 500,000 Users. Rather than keeping users’ data in tech companies’ data centers, NKN and DxChain are turning to blockchain to address the data security issue.
Both NKN and DxChain are trying to bring sharing economic models and blockchain technologies to storage, computing, and networking to create a more open and equal network.
NKN introduces a shared incentive mechanism that rewards individuals in the network who contribute their network connectivity and bandwidth to relay traffic. Together, these shared network nodes create the foundation of a new open, decentralized, and shared transmission network that works across service providers. The result of which is more internet access in more locations and ultimately better connectivity for users.
In DxChain’s design, users are also encouraged to share available storage and computing power. The on-chain economic model rewards individuals who share storage and computing power with tokens. Each user is regarded as a storage and computing node on the network. The data and computing power are not centralized but evenly distributed on different computing nodes. The token economy model can encourage individual users to maintain the equality of the network.
DxChain’s model is also changing the data ownership. Data can indeed belong to its producer due to the “invariance” of the blockchain. In the meantime, data producers themselves can exchange data on the DxChain platform due to the privacy protection provided by DxChain. Users can monetize from their data and receive benefits, thereby breaking the previous situation of data monopoly.
The blockchain technology revolution is by no means one single public chain. At this stage, each public chain is focused on its technical field and is committed to one single part.
After DxChain teamed up with NKN, the two networks can complement each other:
• DxChain provides blockchain storage and computing solutions for NKN. In the scenario where NKN needs decentralized storage and computing, DxChain can provide technical support.
• NKN provides blockchain network transmission solutions for DxChain. In the distributed network designed by DxChain, each node is equal. If NKN’s decentralized network transmission scheme is combined, it can indeed bring equality to the network.
More importantly, the combination of the two can completely break through the bottlenecks of the key IT technology mentioned above: Storage, computing and network transmission. The strategic cooperation between DxChain and NKN can indeed spawn an equal and open network, contributing to the entire blockchain ecosystem and bringing the blockchain’s features to a wide range of downstream applications.