One startup wants to take the resources and security of the most advanced cloud computing services, and apply them to the blockchain.
InterPlanetary Resource System (IPRS) is a new public blockchain that aims to enables everyone to easily own the computing power of the world’s largest tech firms, while providing convenient, reliable and cheap storage and computing services for other blockchains, even storing unlimited transactions in a single block.
Sursen Group and Sursen Interplanetary
The firm behind the chain is Sursen Interplanetary and Sursen Group. The group is headquartered in Beijing, but is run by a team of industry veterans based in China, the US, and Europe. This includes individuals with backgrounds in politics, entrepreneurship, science and engineering, and one former NASA engineer, who knows a thing or two about interplanetary matters.
Sursen Interplanetary intends to take its patented technology in the areas of data security, distributed storage, and cloud storage already used by many top firms, and combine them with blockchain technology to offer a superior alternative to today’s most popular public chains.
IPFS addressed storage issues on the blockchain…
The model most appropriate to contrast it with is IPFS, the decentralized-storage blockchain superstar project known for solving the problem of “self-destructive mining,” in which miners can mine the chain’s coin without sacrificing storage space. The model resembles torrent-sharing platforms like Bittorrent, or Kazaa, if you have a memory that goes back that far… IPFS is a peer-to-peer protocol where each node stores a collection of hashed files. A client who would like to retrieve any of those files can enjoy access to them by inputting the hash number of the file. IPFS then searches the nodes and supplies the client with the file.
When it is applied to a blockchain network, it allows IPFS to solve the storage issues Bitcoin and Etherium, which not only consume the resources of the miners, but of the regional infrastructures from which they draw electricity. Current proof-of-work consensus mechanisms on such chains have slowed transaction speeds to levels that make them nearly unusable at times. If these problems exist when they are simply processing transaction, it makes it both impractical and staggeringly expensive to use these chains for storing substantial data, or large files. This is an issue not just for computing resources, but for those of the planet as well: Electricity consumed by mining is more than that which is consumed by 159 countries.
IPFS addresses this, since rather than storing a whole file on the chain, it can store simply the hash number of the file there, saving its resources and maintaining its efficiency.
In essence, what Bitcoin did for financial transaction, IPFS did for file storage.
Now, IPRS is addressing IPFS’s issues….
IPFS has expanded the possibilities for how blockchain technology can be used, but it is not without its flaws either. Since its data is identifiable by hash, it is technically still open, making it useful for public information such as web pages, but not for private personal and corporate data. It also struggles with computing power and service stability and is faced with regulatory challenges as well which may cause it to be at risk of being blocked by certain governments.
IPRS, however, aims to solve this issue by adopting TruPrivacy, its patented encryption technology, which is the only technology that can deduplicate after encryption, meaning that personal data and corporate data can be securely stored on IPRS. TruPrivacy and Sursen’s other data security products are all already used in all of China’s central ministries, largest banks, and top 100 state enterprises.
It also ensures that the reward of contributing 1GB of storage to the network is greater than the cost.
IPRS aspires to be able to offer cloud storage and computing capabilities that its founding team claims could potentially challenge AWS and Azure, as well as a fully decentralized governance structure meant to ensure both fairness and efficiency, both making and implementing rules in decentralized ways.
Will Sursen and IPRS be the next big thing in blockchain? We’ll see, they have just recently released their white paper, but are certainly aiming for a future beyond storage and computing world that we currently know.
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