You may remember my previous article about the debacle known as the Oyster PRL exit scam, which saw the company’s CEO and founder, at the time, run off with roughly $300k in wrongly minted tokens. After doing the dirty he then decided to go off on a rant about insider trading within the PRL team, and the end of the world being imminent.
Well, it may have been a tumultuous couple of months for crypto in general, since then, but the remaining members of the former PRL team have been grafting away to bring their remaining community a treat to start the year…
The Opacity storage system uses the Tangle system of IOTA to store and data which someone may which to put in the cloud while using the Ethereum blockchain to manage transfer of OPQ tokens and payment of storage.
The way in which the IOTA Tangle works is by (basically put) breaking your data into numerous chunks and then spreading them across the entire distributed ledger system which is securing their network. When a user uploads their data to the Tangle they are then provided a private seed which they can share with anybody who they wish to allow to access their file for free (or just keep it private).
As mentioned, the Ethereum blockchain is used to handle management of the OPQ token, payment for data storage and providing anonymity to those who may wish to conceal their identity. Its value is said to be pegged to the cost of storage which, one would hope, should provide some form of stability.
At present you can use take the Opacity cloud storage system for a test run and upload a file with a maximum size of 250mb on their website: https://www.opacity.io/