Thinking about taking on the big boys? NEO is doing it. In an effort to aim for the tech throne, NEO announced a cooperation with NSPCC to expand NEO with a distributed data storage system. The new project, NeoFS, should give users control over their data, similar to Dropbox and Amazon S3. Exciting!
A few days ago, with the help of an introductory video, NEO announced NeoFS. NeoFS is a cooperation between NEO and NSPCC to expand NEO with a distributed data storage system. NeoFS should be easier to use than Dropbox and Amazon S3 and give users control over their data.
NEO is often referred to as “Chinese Ethereum” or “Ethereum’s killer“ by many. NEO is the first decentralized, open-source cryptocurrency and blockchain platform launched in China. Apart from the NEO cryptocurrency, NEO has one more crypto-token called GAS, that it distributes amongst NEO holders every month.
Online storage services like Dropbox have been very popular over the last 10 years. With blockchain on the rise, distributed storage is heading towards a new important cornerstone in regards to online software and web services. NeoFS is designed to allow users to use portions of the storage for both private and public applications based on NEO.
The NEO team said:
Often enough, the server [storing your data] is owned by a large company, and this company becomes the owner of your data …. You can take a look at what you are sharing to sell or tell you something. So why not get back the control with NeoFS?
After starting NeoFS, the storage can be purchased with GAS (CGAS NEP-5). For the time being, there are no fees for users in the test phase. NEO claims that more payment options, including Fiat, will follow. An encryption technique called “homomorphic hashing” ensures that the data is securely managed and accessible.
NSPCC is a research company founded to support the NEO ecosystem. The company’s management is mainly based on the City of Zion, an independent group of open source developers. The founders include Fabian Wahle, as well as a whole range of cryptocurrency engineers.