A secure and Convenient platform – Oyster
November 6, 2017 7:39 am,
This world has taken a turn in freelancing. People earn a lot through writing and this has become a base for everyone. But all these publishers are suffering because of there a number of advertisements that pop up. These advertisements take up one of the most run-after issues of privacy invasion and a messy. Currently, there is not a single storage service that is both convenient and private. So, a new Blockchain called Oyster has come up with a bright and innovative solution that would enable the users’ files to be stored on a decentralized and anonymous ledger. The main parties that make up the this Ecosystem include a Website Owner who provides content and services to the people and gets paid in Oyster Pearls and a Storage User who spends this Pearls to upload an encrypted file.
As mentioned above, this Pearl is ER20 – Ethereum Token that functions the Oyster Protocol. The IOTA Tangle is a Directed Acyclic Graph which means that it is a blockless dist4ributed ledger. Here, each submitted transaction must perform Proof of Work for two prior transactions, which will, therefore, confirm them. When a user wants to upload a file through the Oyster Protocol, this file is split into parts and encrypted locally in the browser. This ensures the impossibility of any malicious third-party ninja to retrieve the data. All this data is encrypted and can be accessed only with an encryption key, which is known as the Oyster Handle.
The Oyster Protocol does not require any personal information, usernames or even passwords. That is why every file is given a Handle that can retrieve the data from the Tangle. In the early 2015s, the initial concept was made and finally, in July 2017, the arrangements were made. Oyster lays the foundation for web visitors to gradually peer with each other as they hunt for Oyster Pearls (PRL). The crowdsale had begun on 21st October and will end on 14th November with 80,000 ETH as hard cap. 1 ETH = 5,000 PRL.