Opacity is a storage platform that is bringing anonymous file storage solutions to the blockchain. Opacity’s product is market-ready and recently ran its beta this past month. Opacity’s product will be released today – Wednesday, June 5th!
As summarized by Opacity CEO Jason Coppola in a Medium article, the recent Opacity beta was a huge success. Altcoin Buzz was honored to be one of around 60 participants in the Opacity beta, and we greatly enjoyed the invitation and experience. Together, the beta participants reported many major and minor fixes to the opacity developers, and according to Jason, these issues are already being fixed.
The Opacity platform is simple, it offers distributed cloud storage. To pay for storage, you will pay Opacity the organization with OPQ, the opacity token. There will be three account size options: small, medium, and large, all of which will be explained in further detail later in this article.
Opacity’s team is a small but focused group that has been delivering on their promises from the beginning.
Jason Coppola – CEO
Aron Hiltzik – Marketing
Tim DeHaas – Community Manager
William Halunen – Community Manager
Connor Hen – Developer
Marcel Lindig – Developer
Edmund Mai – Software Engineer
Rebel Fornea – Technical Lead
Ladislav Balon – Fullstack Developer
CEO Jason Coppola joined Opacity with 20 years of experience with software product development as an Engineer, Program Manager, Product Manager, and Executive leader. Jason has also led teams within large enterprises such as Microsoft, Boeing, Paypal, and Salesforce.
You can learn more about the team here.
The Opacity Platform:
Opacity offers a low cost, private, and secure solution to cloud storage. The Opacity Platform’s users are not asked to provide any identifying information to use the platform. The account owner can choose to share their data with anyone they send a particular link to.
Originally, Opacity was planning to use the IOTA Tangle to host their file storage, but because this method was proving slow and resource-intensive, they plan to use Amazon Web Services (AWS) instead. However, this is only a temporary measure. Opacity plans to return to the tangle or another decentralized system when the tech improves. At this point, all data stored on the blockchain will be encrypted, so only the account owner and those they choose to share with will be able to see the stored content.
Altcoin Buzz’s Opacity Beta Test:
Those of us at Altcoin Buzz who got to be hands-on with the Opacity platform greatly enjoyed our time with it. To get started, Beta participants were given a wallet with 50 OPQ and some ETH. We then took to the beta website and followed the instructions to set up our account. We were given a private key and paid 2 OPQ to create an account on the platform. After that, we were brought to the main page where we could upload our files. We uploaded a few photos, and then stress tested it by uploading a video. These uploads all completed very quickly and were instantly available to download and share (pictured below).
The platform is beautiful and simple. It just works, and that’s exactly how cloud storage should be. All the buttons you need are right there, and you can see all the options on one screen. We were able to easily share our uploaded files simply by sending the file handle to the people we wished to share the content with.
Competition in and out of Crypto:
Opacity will be directly competing with other cloud storage providers. However, Opacity has a major advantage because it is aiming to become decentralized and much cheaper than the other options on the market. See the graph below (Source: Opacity.io) for a comparison between Opacity and its competitors.
Not only does Opacity provide a cheaper alternative, but the planned decentralized nature means no centralized body can access or control your data like in non-cryptocurrency related platforms.
Competitors in the crypto space include SIA, STORJ, Filecoin and a few others. Opacity prides itself on its user friendliness, cost effective and ready to go product in comparison to other projects who have higher fees and lack working products.
Opacity’s connection with Oyster Pearl:
No discussion of Opacity would be honest without the full acknowledgment of its past. Opacity’s past has an unfortunate stain which came from an event in October 2018.
Some of you may remember the Oyster Pearl (PRL) token. Some of you may also remember that the founder of Oyster Pearl, Bruno Block, performed an exit scam. Bruno Block managed to transfer directorship of the Oyster Pearl smart contract to himself and exit scam the PRL project. This left the Oyster Pearl team with no choice but to reorganize and start fresh. The new project was to be called Opacity.
Opacity executed the token swap well, and all Oyster Pearl users were given the equivalent amount of PRL:OPQ when the time came for the token swap.
Despite the setback during the Oyster Pearl era, Opacity seems to be in a much better place now. It is better that the bad actors and directorship flaws are exposed earlier rather than later. Opacity is trying to move beyond their past and has been doing so in brilliant fashion. They are delivering on their promises and now flaunt a working product, which is something that their competitors do not have yet.
We will be discussing this point in our interview with CEO Jason in the coming weeks so stay tuned!
The OPQ Token:
The OPQ Token will serve as the utility token that you use to pay for storage and it is as simple as that.
Primary methods of growth:
User Communities that require large amounts of affordable file storage
○ This includes photographers and graphic designers.
○ Also, there are many user communities that are privacy-centric that Opacity will appeal to.
○ Opacity has started to connect with other privacy and security-focused crypto projects and will be announcing partnerships soon.
○ Opacity should appeal to many smaller businesses looking for affordable storage solutions.
Storage Node Operators
○ Opacity expects to enable privately managed storage nodes that will receive OPQ payments for participating and providing storage to the Opacity network before the end of the year.
There are currently three plans that will be offered to Opacity.io users: Basic, Professional, and Business.
128 GB of Storage
1 TB of Storage
2 TB of Storage
Only the basic plan will be available at launch and others soon after!
All Plans Include:
Opacity (OPQ) Token Price Information:
Current Price: $0.061053
Market cap: 7.38m
Circulating Supply: 120M
Max Supply: 130M
Where to Trade: KuCoin
Opacity 1.0 Product Launch!
Opacity will launch its product TODAY, Wednesday the 5th of June 2019!
Sign up and Learn more:
Opacity’s Website: opacity.io
Opacity’s Team: opacity.io/team-page/
Opacity‘s Blog: medium.com/opacity-storage
Chat with the Opacity community on Telegram: telegram.me/opacitystorage
Follow Opacity on Twitter: twitter.com/Opacity_Storage
See the code on GitHub: github.com/opacity
Do not leave your cryptocurrency on an exchange! Cryptocurrency exchanges, like other websites with tradeable assets on them, are a common target for hackers. Your cryptocurrency is safest when it is kept in an offline device. Looking for a cold storage option? Read our cold storage device review here.
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