The Cloud has become our go-to space to upload our data with the assumption that it will be there forever. However, forever is a long time, and the chances of losing information in cloud storage do exist. For example, if the cloud service you use goes out of business or no longer supports the data formats in which your files were saved. Or even an unintentional deletion, data overwriting or malicious actions could all lead to digital data loss while using cloud storage.
To address these challenges of data security and sustainability, Ternoa developed a public blockchain solution. Interestingly, it specializes in the storage and transmission of data over time and even beyond death.
In simpler words, Ternoa guarantees its users that the data stored on the “capsules” will be available for several generations to come. Additionally, the users can store information in any format and they will own exclusive rights to manage the access and availability of this data.
Ternoa – NFT based Decentralized Data Transmission Blockchain
The above subheading might sound confusing, let’s explain it: Ternoa is a blockchain project that facilitates storing and sending personal data in an anonymous, immutable and secure manner.
It operates decentralized blockchain storage networks to store this data which is then passed down across generations. Interestingly, it uses non-fungible tokens (NFTs) as transmission technology. Moreover, it is capable of sending a variety of data like photos, videos, passwords, legal documents, bank details, and more. Along with that, it is also capable of triggering event-based data transfers.
For more regular updates about the project, please join the Ternoa army on their Telegram Channel.
How does Ternoa work?
The Ternoa Application allows the creation of “Time Capsules” which are basically non-fungible tokens (NFTs) issued on the Ternoa Blockchain. They help in encrypting, storing, and transferring data in a secure manner. These time capsules, contain personal data and can be passed on from generation to generation.
The project team plans to deploy the basic NFTs in 2021. Along with that, it will also deliver an NFT marketplace based on the SubstraPunk project. This will offer everyone an opportunity to create and sell Ternoa compatible NFTs.
Elements of Ternoa
The Ternoa data transmission system functions on the core elements mentioned below:
Ternoa Chain
It comprises of leading decentralized storage providers like SIA, Storj, and Arweave. The process includes encrypting the data, segmenting it, and then storing it across the above storage providers. Furthermore, it uses new types of NFTs with extended owner privileges. These all help in data transmission.
In addition, multi-party cryptography helps secure the data entrusted to the Ternoa Blockchain network. The Shamir shards/key scheme adoption combined with the use of Intel SGX enclaves helps them secure the encryption protocol. Furthermore, the reliability of the network is based on a Polkadot Parachain supported by the NPOS scheme used to select the validators who are allowed to participate in the consensus protocol.
Polkadot NFT marketplace
In the marketplace, users can purchase customized Time Capsules. These are basically NFTs and are used to encrypt, manage and transfer data. The specialty of these NFTs is that they are watermarked, meaning only the owner and holder of this NFT can see a high-quality version of the data stored.
Transmission protocols
The team is currently building 5 different types of transmission protocols :
- The Safe Protocol – Basic storage concept protocol
- The D-Day Protocol – Programs exact date of receipt of a time capsule for the recipient
- The Consent Protocol – The issuance of a capsule can only be authorized by a group of users.
- The Death Protocol – Once the creator dies, the time capsule transfer is triggered.
- The Countdown – The time capsule transfer is triggered once the countdown completes.
Each transmission protocol is suitable for a different type of use case.
Ternoa Wallet
Capsule Coin is the native token of the Ternoa Blockchain. It is used to pay for transactions made on Ternoa Blockchain like the creation of an NFT, data encryption, and data storage over time. To send time capsules and manage the tokens, the users are provided with Ternoa’s cryptographic wallet.
How does Ternoa enable interoperability?
Ternoa network can communicate with DEX storage blockchain. This is enabled by the Substrate framework and Polkadot Blockchain. Unlike cloud storage, Ternoa keeps a copy of original data on its own network and then the encrypted copies of files stored in time capsules are stored on Aerweave, SIA, and Storj.
As the files are encrypted and fragmented in multiple storage places, the security of data is maximized. Furthermore, it uses an atomic swap module to swap Capsule Coin tokens to the native tokens of servers like SIA and Storj.
What kind of consensus does Ternoa use?
Ternoa Blockchain uses the Nominated Proof-of-Stake (NPoS) consensus mechanism. It is a mechanism developed for Substrate-based blockchains and is much similar to Delegated Proof-of-Stake (DPoS) mechanism. Therefore, it has both nominators and validators. Moreover, NPoS is based on a process of selecting validators who are authorized to participate in the consensus protocol.
Each wallet that holds Capsule Coins (nominator) can participate in choosing a validator and delegate its tokens to it. Based on the delegation duration and delegated token amount, a nominator can earn rewards.
To conclude:
Undoubtedly, Ternoa Blockchain is a transparent and highly secure platform for storing and transmitting data over generations. Most importantly, it is designed as an open system that can interoperate with other decentralized ecosystems. This ensures the platform is capable of scaling its functionalities and performance.
Links to use :
http://bit.ly/TernoaTelegramEn
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This interview, overview, or update article has been compensated for media cooperation and has been sponsored for by the interviewed or reviewed organization. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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