The SSS 2.0 – Cold Staking & Simple Drive

The SSS 2.0 – Cold Staking & Simple Drive

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Blockchain technology has come a long way. New use cases that make life much easier for everyone are being found every day. One area that humanity could benefit from the use of blockchain technology is the cloud-computing sector. SSS (Simple Software Solutions) is working on incorporating the blockchain in the sector. The aim is to ensure that people can enjoy the safety and security offered by the blockchain while still also enjoying the benefits of cloud storage.

Wallet Cold Staking Upgrades

Cold staking is a process user is rewarded for holding coins within their wallet for a long time. Upgrading to the new wallet will be mandatory for anyone with an SSS Wallet.

A Simple Guide on Cold Staking

Cold staking will require two wallets. In one wallet, you place the funds and in the other, called the hot node, is where you do the staking. The hot node has to be online 24/7.

To set up the cold staking, you will need to go through a few simple steps:

First, you generate a staking address. To create this address, once you enable the cold staking tab by click on the top bar icon, pick, Staker, and then click “Create cold stake address.” Once you do that, you can insert any amount you want, add a label for your address, an optional description, and then click “generate.”

The address you create will be visualized as well as a QR code. You can copy the URL or the address, which you will paste during the delegation stage. There is no requirement for a new staking address for each delegation. Instead, you can use an existing address. To view your existing address, click on “My staking addresses.”

In the second step, you will need to generate an owner address, in the owner wallet. An owner address is a regular SSS address. The private key can be used to redeem the delegate coins. An owner address works as a receive address. The owner address has to belong to an offline wallet that contains the coins.

To create the owner address, visit the “Receive” tab and click on “Generate address.” There is no need to create a new owner address during each delegation. You can use an existing address you created in the past.

The third and most important step is creating the cold stake delegation. To delegate your coins, you have to send a “delegation contract” transaction. To do this, click “delegation” in the cold staking widget. As with a normal sending operation, you have to pick an amount and let the wallet pick the coins or pick them using coin control.

Insert a staker address or pick one from a list of existing ones, add the description. You can also add an owner address. If you do not add one, it will be generated automatically. Finally, click on “Delegate.”

Cold staking does not require any specialized skills. A long-term investment earns you a small but steady income over time. Besides that, it gives you special rites within the ecosystem of the project. As a result, if you have the resource to do it, it will be worth your time.

Another benefit of cold staking is that you do not need to purchase expensive and highly specialized rigs. The result is that it is a more democratic process since the cost of entry has been lowered. Additionally, it lowers the energy consumed by the blockchain verification process, which is a source of concern with other verification methods such as PoW.

About Simple Drive aka SDrive

The main goal of SSS is to introduce the benefits of blockchain technology into decentralized cloud storage. While cloud storage is a great innovation that has helped many individuals and enterprises, there is still the problem of centralization and data security.

Without a single point of failure for hackers to access private data, the result is enhanced security and better privacy protection. SSS aims to revolutionize the cloud storage industry with innovative blockchain solutions. It will ensure a better and more efficient world where everyone can enjoy the benefits of cloud storage without having to sacrifice their security and privacy.

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There are many centralized cloud storage like Google Drive, Dropbox, or Microsoft which are based in a centralized environment. Project SSS is creating a completely decentralized storage platform called Simple Drive (SDRIVE). This will be built on Hyperledger fabric blockchain and distributed among nodes. It will have all possible device backup system as well as sync with desktop and mobile apps. But most importantly, this platform will be private, secure, and decentralized. One can see that it will give the same end-user experience as Dropbox, Microsoft or Google Drive. This is a real-world solution on the blockchain.