SmartFox

SmartFox blockchain project data storage

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SmartFox

SmartFox is a pioneer in the world of blockchain-based decentralized cloud data storage solutions

 

SmartFox is a pioneer in the world of blockchain-based decentralized cloud data storage solutions. The project provides reliable storage of text information, media files, and websites. It also rewards users in exchange for sharing their disk space.

The main advantage of using Smartfox is that it’s trustless, which means data is stored without relying on a third party. Decentralization perfectly solves the problem of easily identifiable central points of attack of traditional cloud storage.

As the typical user has at least a few devices connected to the Internet, providing the ability to quickly access the updated data from any device is of an utmost importance. A decentralized blockchain based data cloud storage model is obviously the best solution to the problems of confidentiality, accessibility, and integrity. Being a distributed network of personal computers, it is trustless and has no central point of failure.

Benefits of blockchain data storage

A blockchain is a distributed database in which you can write down any data or transactions. It stores the information of the entire network, which in turn creates a decentralized, distributed, and independent from any single point space. Every network user supports its functioning, so it is very difficult for one person to hack or completely destroy it.

Another advantage is that transactions carried out in a blockchain cannot be changed or faked. A cryptocurrency-based blockchain allows creating a decentralized Internet while providing freedom and security.

It ensures:

  • Decentralization and required redundancy: Centralized file storage provides data backup by distributing files to regional data centers, which are quite attractive to attack. Decentralized file storage distributes pieces of data among all network users, thereby eliminating a single point of failure.
  • Absolute confidentiality: No third-party controls users’ data or can access it. Each node stores some encrypted pieces of user’s data, while the user is the only one manager of his key.
  • Low storage cost: Decentralized cloud storage is much cheaper than any centralized one.

 

Main benefits of SmartFox services

Confidentiality

The storage is absolutely private and confidential. All data is encrypted and no one except for the user who uploads information and also has a special cryptographic key, can access it.

Fast upload of files to the cloud storage

Due to its decentralized nature, the upload speed to SmartFox is limited only by the max. speed on the user’s end, which means the user can quickly upload confidential data to the cloud storage if necessary.

Profit for sharing free disk space

The use of SmartFox is not just safe, reliable and convenient, but also economically justified: every GB of your free disk space brings you good profits with absolutely zero risks.

Storage providers will be able to regulate the amount of free disk space and the price for 1MB, which will allow them to remain competitive and receive the desired profit. The same time storage renters will get a wide range of options and the ability to rent the disk space at the lowest price.

High security and reliability

Since all information is shared among the SmartFox network, there is no single data storage device by accessing which an attacker could restore the whole text or file. With SmartFox, data theft or fraud is technically impossible. Moreover, the failure of one or several nodes does not affect the availability of information and operation of the decentralized cloud storage.

Censorship-resistant

Traffic is distributed over a number of channels, which makes tracing and blocking almost impossible. SmartFox provides the ability to store files of any content, including files that would be blocked by authorities if they were in free public access on a centralized resource.

 

The problem of blockchain storage and solution of SmartFox

The well-known blockchain bloat problem is that with the increase in the number of transactions, the number of records also increases, and it becomes very difficult to continue adding new records.

This problem can be solved by storing only a small amount of information about the storage transaction – metadata that contains the hash of the file and the location of the backup file copies.

Coin specification

Name: SmartFox
Ticker: FOX
Type: pos
Algorithm: x11
Block time: 40 sec
Collateral: 1000 FOX
Total supply: 22,600,000
Masternode block reward: 80%
Staking block reward: 20%
Transaction confirmations: 6
Premine: 226,000 (1%)
Stake min age: 1 hour
P2p port: 40428
Rpc port: 40424

 

Development of the project

Stage One
The development of the masternode network up to 1000 mastenodes, which are a solid basis for the future development of SmartFox. The rapid development of the masternode network is ensured by the high profitability at the initial stage and aggressive promotion in social media, including bounty campaigns.

Stage Two
1000 masternodes provide sufficient redundancy necessary for the network stable operation. In other words, renters are insured against unreliable disk space providers. Stage II goes along with the release of the beta version of wallets with an inbuilt sharing (renting) option, which in fact allows all FOX holders use the cloud data storage technologies. At the same time, masternode owners receive some privileges and bonuses.

Stage Three
Steady development and expansion of the SmartFox platform functionality, including the ability to store media files and use the decentralized cloud hosting for websites with own DNS.

 

Roadmap of the project

Stage 1

Q1 2018 – completed
Idea Emergence & Development

Q2 2018 – completed
Idea Development & Market Research

Q3 2018
Completed
Project Launch
Listing on CryptoBridge
MNO
Creating Media Channels

In process
Bounty campaigns
media promotion
Stimulating the Development of an Extensive Masternode Network for the Successful Launch of the SmartFox Decentralized Cloud Storage
Specialized Services

Q4 2018
In process
Listing on CoinExchange or an Exchange with the Similar Turnover
Technical Whitepaper
Development of Cryptographic Module Encrypting Files before Sending Them to the Network
Raspberry PI
iOS
Android Wallets Release
Evaluating Sharding Options
Creating a Shard-Management Module

Stage 2

Q1 2019

Choosing the Best Sharding Option
Completing the Development of the Cryptographic Module
Providing the Ability to Decrypt Files Using Private Keys
System Audit
Decentralized Cloud Storage Launch

Stage 3

Q2 2019

Listing on Cryptopia
Ability to Store Media Files

Q3 2019

Decentralized Cloud Hosting for Websites with Own DNS
Whitepaper 2.0

 

Team of the project

Harry Brown – CEO, Founder, Developer
Harry Brown is a professional in the development of cloud, flexible and scalable applications and an author of cloud computing training programs. Harry Brown is the former CEO of a software development company.

Nick Knell – Developer
Nick Knell is a developer with experience in technical consulting on complex technologies, business consulting in IT strategizing and cloudsourcing, business analysis, a definition of complex methodologies and processes and coordination of complex projects. Nick has advanced skills in Microsoft products.

Mike Dohrman – Developer

Mike Dohrman is a developer with 5 years of experience in cloud technologies and deep knowledge in the field of virtualization, storage, networks, data centers, OpenStack management, cloud identity management, and IT security.