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About ScPrime
Key Points
- ScPrime is a cryptocurrency project targeting public cloud services with a blockchain-based ecosystem.
- It uses Proof of Work ASIC mining and state channel smart contract scripts.
- The network is based on the original Sia renter-host protocol and uses 256-bit encryption and erasure codes.
- Anyone can participate as a storage node and be paid in the utility coin SCP.
- A layer 2 reference implementation brings real-world access to the network with a core client software called a Relayer.
Numbers and Figures
- 256-bit encryption
- October 31, 2018 (genesis block
About ScPrime: Unlocking the Power of Decentralized Data Storage
Introducing ScPrime: A Revolutionary Blockchain-Based Storage Solution
ScPrime is a pioneering cryptocurrency project that leverages a blockchain-based ecosystem to incentivize individuals worldwide to store data, ensuring accuracy, security, and redundancy through the implementation of smart contracts and cryptographic proofs.
- ScPrime is a layer 1 blockchain that leverages Proof of Work ASIC mining and state channel smart contract scripts to interconnect Storage Providers. Built upon the original Sia renter-host protocol, the network employs 256-bit encryption and erasure codes to create a highly resilient and secure public distributed cloud service. Anyone can participate as a storage node and receive compensation in the utility coin, SCP. The open-source software enables users to craft bespoke configurations, while commercial implementations, such as the XaMiner, offer a seamless, plug-and-play experience.
- A layer 2 reference implementation provides real-world access to the network through a core client software, known as a Relayer, which can be configured as an on-premise or in-cloud instance, ensuring full compatibility with widely adopted cloud protocols like AWS S3. Customers utilizing this client can pay via traditional methods and enjoy a wide range of features, allowing for a seamless replacement of their current cloud solutions.
A Paradigm Shift: From Evolution to Revolution
This core manifesto envisions a seamless transition to Web3, ensuring seamless real-world compatibility. As blockchain technology, public key cryptography, and utility currencies gain widespread acceptance, SCP software will adapt to meet the evolving needs, fostering a competitive global network and advancing resilient decentralization over time, yielding radical cost benefits as a natural consequence.
On October 31, 2018, the genesis block marked a pivotal milestone, as a premine was allocated to reward the Sia community and developers, while also covering the operational expenses of community participants who managed mining pools and the costs associated with initial exchange listings. Furthermore, a substantial cold wallet balance was established to fuel network development. For a detailed breakdown of the genesis block, please refer to
https://scpri.me/project-specifications
.
Safeguarding the Integrity of Our Network Infrastructure
The ScPrime blockchain operates on a Proof-of-Work consensus algorithm, specifically utilizing the Blake2B protocol, with a 10-minute block time interval. The network’s difficulty adjustment algorithm is designed to be aggressive. The Genesis block reward was set at 300 SCP, decreasing by 0.001 SCP per block, with a floor of 10 SCP, which was reached approximately five years after the Genesis block. A declining project fee was incorporated into the reward structure for the first two years to facilitate developer funding. Notably, starting from block 105,000, 10% of each block reward is allocated to an unspendable address, thereby reducing inflation and supply for the duration of the project.
Sybil and other data disruption attacks are effectively mitigated through a system wherein Storage Providers are required to post collateral equivalent in value to the opposing side of any given contract. This collateral is locked and rendered inaccessible for the duration of the contract. Upon successful completion, the collateral is returned to the Provider. Conversely, in the event that a Provider fails to fulfill a contract, the collateral is redirected to a burn address, thereby preventing the exploitation of a potential attack vector designed to pilfer the collateral.
For enhanced durability and to leverage the distinct advantages of a widely distributed network, datasets are fragmented into shards utilizing standard Erasure Coding (Reed Solomon). The optimal Data/Parity ratios are dynamically determined by the customer within the Relayer client, taking into account desired durability, geolocation of data, latency, and other key network performance indicators. The strategic application of Erasure Coding yields extreme redundancy, ensuring that only a fraction of uploaded data nodes need to be accessible to successfully retrieve the entire dataset.