Concept: Bunker — distributed file storing system with endorsement of peers

  • durable even if DNS or traditional storage systems go down
  • scalable to be able to serve users in case of growing demand
  • anonymous to protect peers who publish files
  • lasting to guarantee that file exists at least a required amount of time
  • resilient from any kind of attacks
  • legal to address copyright and law issues

Problem

Solution

  1. A publisher pushes a file to his/her own IPFS node.
  2. On the Bunker website, which is a trusted party, a publisher submits a request to store a file. He/she also provides following data: an IPFS file hash, an IPFS address, MTTL (minimal time to live), an endorsement amount, a currency (Ethereum or Bitcoin), and a wallet address.
  3. On the Bunker website, interested peers can accept this request. To participate in the contract, they should provide this: an IPFS address, a wallet address.
  4. Bunker arranges a smart contract in either Ethereum or RSK.
  5. A publisher loads money to a smart contract, which changes its state to active.
  6. Participating peers keep local copies of a file while a contract is active.
  7. When local copies are saved by peers, a publisher can remove a file from its own storage.
  8. From time to time Bunker identifies peers, which are storing a file, and randomly reports one of them to a smart contract. This process is called peer verification.
  9. Anyone (usually it is Bunker) can trigger a smart contract to pay out a small portion of an endorsement amount to a random verified peer provided by Bunker in step 8. If Bunker had confirmed that no such peer exist, a portion of an endorsement amount is returned back to a publisher. This process repeats until MTTL is reached and all endorsement amount is paid off.

Peers verification

  1. Bunker requests from a publisher hashes of random portions of a file upon signing a smart contract.
  2. From time to time, Bunker requests peers to provide hashes of a particular portion of a file.
  3. A peer who provided a correct hash faster has more chances to be selected by Bunker to receive a portion of an endorsement amount.

Changes to a smart contract

  • A smart contract is not profitable for either peers or a publisher
  • Existing peers are inactive, so new peers are needed
  • Publisher wants to continue a contract
  • Publisher wants to update content
  • Legal issues associated with content

Legal issues

Fees

Why people need this?

Update

--

--

--

Software Developer

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

How to read the On Balance Volume (OBV) Indicator

The GoodDollar Wallet to Deliver Universal Basic Income Worldwide

New Age Economy Requires Banks, Payment Firms, and Startups to be Crypto-Inclusive

USTX: transparency and risks

Decentraland as a Playground for Crypto-Collectibles

ManyStaker.io — Earn upto 20% Daily on your Staked AVAX Token

[Upbit Notes] New Listing Update

TRY.finance offers an amazing deflationary DEFI token that provides exceptional rewards.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Vadym Myrgorod

Vadym Myrgorod

Software Developer

More from Medium

SNXweave Weekly Recap

Root Blockchain Will Be Integrating Bancor Protocol to Provide Token Liquidity for Its Users

Privacy in Dongle

🍰 🎙️ Have you ever wondered how to get started in crypto and what are DAOs?💡🎙️