Thursday 31 December 2015

What (crypto?) currency based upon data does not require mining ?


Help requested: I am searching for something along the lines of DataCoin (which appears to have died) but I am not convinced such a scheme requires a 'mining' basis. Data submitted require coin for initial storage and coin for access, encryption should be (somehow) automagickly based upon the source of the data and some other required factors. I am neither scrooge nor a leech nor any kind of wealthy, so for the best answer arising from all this over the next 72 hours I make sure you have an LTC address I can donate to. Why: I have an urgent need to store massive quantities of real data which many people will need to be able to access. This requires the idea of locking it into a distributed decentralized network of nodes (not carrying any other type of data) so that it can be accessed on the fly by the payment of such coin. Whatever the coin, it must be able to withstand any duplication/forgery attacks, and I recognize this may be where mining is required - please explain if I am getting this correctly. I regard mining as 'make-work'. Otherwise, what I am looking for looks like this: 1 - agent writes data into the master dataset - encrypted 2 - agent pays to store the data - the coin gets distributed to those nodes storing the data. 3 - customer searching for data in a master data index discovers the data required and pays coin to the nodes which are storing the data, the nodes download the encrypted data. The key for decryption is stored on a separate node, also keyed by the coin payment to be released in settlement. [data nodes have no way to decrypt the data they store, any encryption nodes do not know which data is held for which keys they store, or something along these lines] This is expected to occur multiple times for any given datarecord but may also never occur (luck). [I originally considered just using LTC payments for an independent database storing records, but with all the references to such a concept embedded in a cryptocurrency it seems only prudent to simply ask...] via /r/CryptoCurrency http://bit.ly/1OnjM2r

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