Datacoin Key Features:


1. What is Datacoin?

Datacoin is both a reliable and decentralized data storage service and a currency to pay for this service.
2. Where my files are actually stored in Datacoin network?

Files are stored on local HDDs of all users participating in the Datacoin network. Each user has their own full local copy of all Datacoin files.
3. Are my files encrypted in Datacoin?

No. You are responsible for encrypting your files before sending.
4. Is there any way to delete my data from Datacoin blockchain?

No. Once data goes into Datacoin blockchain there is no way to delete it.
5. Why Datacoin does Datacoin not handle file names and any other details about my files?

Datacoin daemon works with blobs only. This is because it must be a reliable software. Any additional metadata must be strictly verified and this code can lead to bugs. Bugs are bad. However, no special rules apply to blobs, except for size verification.

There is an upper level protocol (Datacoin envelope) that handles file name, files bigger than 128Kb, file updates and compression. You can follow Datacoin envelope development here:

The Datacoin envelope doesn’t need any modification if Datacoin daemon and Qt wallet – JSON RPC connection is enough.

6. How much disk space does it take?

1Mb (max block size) * 60 minutes * 24 hours * 365 days = no more than 513Gb per 1 year
7. Is this storage free?

No. Currently the fee is 0.05 DTC per 1Kb of data. This standard fee can be changed in future without a hard fork.
8. Sender pays fee and who gets this fee?

All fees go to miners i.e. the fee is distributed between nodes supporting Datacoin network proportionally to their mining power.

The fee from a fully loaded block is about 50DTC (block reward now is ~12DTC and it decreases).
9. Does the whole concept mean that it is tough to go for Android or IPhone client?

Mobile clients need light wallets in order to see balance and send transactions. Light wallet will interact to some web service instead of storing full blockchain locally.
10. People really need to store more than 513Gb of data per year in decentralized storage. Do you have any plans to increase storage space?

Datacoin is a root storage engine in the decentralized storage service. This storage is both reliable and expensive. I’m now working on concept of personal chains. Personal chains will start from the root Datacoin blockchain and will be replicated to nodes by subscription (nodes can choose chains they subscribe to). The Datacoin blockchain will handle only identification and some metadata for all personal chains.

Important notes:
– This (personal chains) is only on conceptual level now and will be clarified and prototyped in few months.
– This doesn’t mean Datacoin hardfork. Personal chains will be constructed on top of Datacoin network.
11. What is current state of Datacoin project?

Datacoin network [reliable and expensive blob storage in blockchain] – up and running
Datacoin envelope [file storage in blockchain] – under development (Perl prototyping)
Personal chains [more data outside of blockchain] – on conceptual level
12. Who is working on Datacoin project?

I’m working alone for now.I haven’t yet accepted anybody else into the development team, but I plan to do this in the future in order to make progress more sustainable. Keep in touch and thank you for your support.



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