ABEY 2.0 era – AST ushers in strong data storage market

ABEY storage network forms a higher quality distributed data storage platform by combining with IPFS (Interstellar File System) to solve potential problems that may appear in FIL networks.

  1. ABEY2.0 distributed storage network new online

According to relevant data (refer to Foresight Industry Research Institute data), the total value of the global data storage industry has greatly exceeded $50 billion in 2020, reaching $66.5 billion, and is expected to grow to $208.6 billion in the next 6 years. The world’s data storage business is currently dominated by 5 major companies, namely Google, Amazon, Microsoft, Facebook and Alibaba. Our current Internet is made up of servers from these giant companies, and the over a million centralized storage servers they provide are always running.

The main data interaction models of the Internet today are C/S and B/S models, which means client-server, and browser-server models. Then in the browser people are generally using the HTTP protocol – Hypertext Transfer Protocol to store data.

This is a major risk for users: if for some reason their services are interrupted, governments, businesses and users that rely on their servers will probably be immediately inoperable and data may not be queried or lost; if special reasons are encountered, the providers that control these servers can easily get hold of user data. Hackers only need to launch an attack on the server, which may also make the server inaccessible to ordinary users.

Therefore, ABEY Storage Network changes the current problems in the data storage industry by creating a more secure, fair, open and reliable distributed data storage solution. in ABEY Storage Network, there is no central point of failure, and its distributed data storage model can keep data firmly in the hands of users.

  1. Solve the weakness of IPFS, decentralized storage technology continues to upgrade

Mentioned here may be asked: 2020 new online IPFS (Interstellar File System) is not also the use of distributed data storage to solve the problems of insecurity, centralization, storage costs and other problems that exist in the HTTP protocol. So, what is the difference between ABEY storage network and IPFS (Interstellar File System)?

IPFS (Interstellar File System) came into the limelight in 2015 and its distributed storage technology has really made a huge impact on the data storage industry. So far IPFS has processed more than billions of files, but with the long-term test, IPFS (Interstellar File System) also gradually exposed some problems: IPFS (Interstellar File System) can not directly incentivize users to store data, and can only rely on Filecoin token incentive mechanism to expand the storage scale, providing miners with corresponding FIL coins as a reward for providing storage space. Filecoin miners need to provide their own storage servers to the network and meet the requirements for network storage in order to receive the corresponding rewards. In this process miners cannot choose the quality or security of the server, which increases the difficulty and cost of Filecoin regulation, and also potentially threatens the integrity of the entire storage network.

To address this issue, the ABEY storage network forms a higher quality distributed data storage platform by combining with IPFS (Interstellar File System) to address potential problems that may arise in the FIL network.

  1. ABEY2.0 Storage Token – AST was born

The ABEY storage system solves potential problems in the Filecoin system by providing a standardized storage server that is fully compliant with the IPFS storage protocol, creating a free marketplace for users. Storage miners can sell their services in the marketplace, while users can bid for the solution that best suits their needs and choose the optimal storage server to solve their storage needs, thus significantly reducing the cost of Filecoin storage and eliminating the possibility of fines or termination of service by the network for storage nodes. The specific process is shown below.

① Users pay miners to store their data

② Miners submit data to the blockchain for storage

③The network verifies that the storage conforms to the IPFS storage protocol standard.

④The user pays the miner to access the data when needed.

ABEY 2.0 era - AST ushers in strong data storage market
  1. How do I get AST tokens?

Currently ABEY miners can get AST tokens rewarded in two different ways:

(1) Storage and content delivery.

Storage miners are rewarded with AST tokens based on their storage capacity, depending on how much available storage capacity the miner provides to the network. Delivery miners are rewarded by the miner’s response time to a request for a specific data delivery, which in turn is related to the delivery distance. As a result, delivery miners will focus more on the geographic location of storage than storage miners in order to improve the efficiency of storage by reducing the time delay in delivery by being closer to the endpoint’s servers.

To achieve this, the ABEY storage network has mining facilities in multiple strategic locations around the world. Storage miners and delivery miners can provide content storage and delivery services from different locations around the world, both of which can earn AST mining rewards.

(2) AST Mining Rewards

Before participating in AST completion mining, miners need to purchase an AST miner storage module and pay the corresponding gas fee (FIL) and activation fee (ABEY) in order to acquire storage space. After meeting the hardware and fee requirements, miners can start minting blocks, providing storage services to their clients and receiving the corresponding AST in return. In addition to the prescribed fees, other collateral mechanisms may be negotiated between the miner and the client for any given transaction.

  1. ASTs will have immeasurable value in the future

The ABEY storage network is an improvement on the original Filecoin storage system that works with Filecoin for data storage and delivery via the IPFS protocol. As an efficient distributed file storage system, ABEY storage network has unlimited scalability and can help miners complete data storage and delivery more safely, smoothly and quickly, providing a more effective solution to the shortcomings of the original Filecoin storage system.

AST is an ARC20 token issued on the ABEY chain and is compatible with FIL cross-chain. Meanwhile, AST maintains a 1:1 ratio with Filecoin, which means that AST can be immediately exchanged with the same value as Filecoin at any time. AST is issued on the main ABEY network, and ABEY has reached consensus cooperation with several liquidity providers and some large exchanges around the world in the 1.0 era, a background that fully guarantees the market in the ABEY 2.0 era, and is backed by 100% liquidity backing.

In the future, we can foresee that ABEY storage network is capable enough to provide, secure, efficient and intelligent storage services for data storage worldwide, in order to meet the current data storage needs and contribute to the global data storage development. Likewise, the value of AST should not be underestimated.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/abey-2-0-era-ast-ushers-in-strong-data-storage-market/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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