0chain Ico Review

0chain Ico Review – 0-Cost Cloud For IoT, Web, Enterprise, dApps

About 0chain

0chain provides automated data privacy compliance, continuous protection, and secured sharing for your application. 0Chain is near-impossible to breach, has an immutable data ledger to resolve disputes, conduct audits, and eliminate data liability. In addition, 0Chain enables secured data sharing between customers, partners, internal groups, and employees. And the platform extends private data usage in smart contract applications on blockchain platforms such as Hyperledger and Ethereum with simple API interfaces and can provide such integration with any smart contract blockchains.

There are three data trends to fit the use of 0chain platform. One, data is expected to grow from 33 ZB (zettabytes) today to 175 ZB2 in 5 years – 0Chain provides efficiency for such data storage. Three, increased value in data would force adoption of better data protection platform to prevent significant financial and reputational damage.

0chain Key Information

KeyPoints
Token Name0chain
Soft cap40,000,000 USD
Hard cap1,000,000 USD
Distributed in ICO10%
Tokens for sale40,000,000
CountryUSA
AcceptingETH
Token SymbolZCHN
Token TypeERC20
Raised$39,000,000
PlatformEthereum
Price in ICO1.6500 USD
WhitepaperClick Here For View Whitepaper
WebsiteClick Here For Visit ICO Homepage

The Game Change Team Behind 0chain

0chain Ico Review - 0-Cost Cloud For IoT, Web, Enterprise, dApps

Data on-chain & scalability, privacy issues

Today, some enterprises put their data on the blockchain. The problem here is that one data-heavy transaction can stall the blockchain and delay other transactions. Other issues include privacy, immutability of the data, and visibility to everyone. This is a big problem for most use cases because privacy may result in unintended liability consequences for the enterprise, and some do not want to disclose monetizable data assets on the blockchain.

Data off-chain & data protection

0chain As is done in most blockchain apps, the data is stored off-chain and placed in a traditional MongoDB database with object storage. This data is replicated across members of the network, which leads to an inherently vulnerable architecture as pointed out in Fig 1. All the hacker needs to do is attack one of the servers and be able to get access. An alternative architecture is to stripe the data across servers as shown in Fig 1.

Now, the hacker needs to have the keys for all the servers in order to gain access. Not only is this extremely fault tolerant, because the servers can be located in different buildings and in separate geo locations, but this architecture is essentially impossible to breach. By having the keys on the blockchain, it records all activities and so in case of any breach, those activities are immutable and readily available for forensics.

Single source of truth

In order to monetize data in applications, the smart contract first needs to trust the data uploaded. Since a single source of truth does not exist today, the blockchain consensus members would first download the data and verify the content hash which is expensive and laborious to do. With d Storage providing a single source of truth, the smart contract code just needs to verify the transaction submitted against the metadata on the 0chain blockchain, which is a faster, simpler, and a scalable process.

Encrypted data handling

Today, the data handled by the blockchain smart contract cannot be encrypted because there is no easy mechanism to decry-pt it for processing and verification, unless the parties set up private channels for such communication. With d Storage, encrypted data handling is very simple and no new code is required. The originator uploads the encrypted data once and provides proxy re-encryption keys for individual 3rd parties to look at the data for processing. Examples of this process will be discussed in later sections where 0chain proxy re-encryption technology generates auth token and is used to share a file for smart contract processing.

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