Picolo is a fast, scalable, fully decentralised, globally distributed transactional database network for blockchain based applications. It is a p2p network with an open participation model where any node can freely join and leave at will. Nodes discover each other in a decentralised manner via DHTs where each node maintains just enough routing information that will enable it to discover the topology of the whole network.
ICO TOKEN PRICE:
- Right now it’s too early days for Picolo without a functioning website.
- Whitepaper is technical and shows good user case.
- Still early days with no real website available, just the Whitepaper. (time of writing – 17/07/18)
- No Team or Adviser information
There are four types of participants in the network: storage providers, storage consumers, data providers & data consumers. Storage providers join the network to offer their spare computing resources like disk space, CPU & memory in exchange for cryptographic tokens. Consumers can pay providers with these tokens (among other ways) and use the resources provided to satisfy their needs. Since the network is open for anyone to participate, consumers need some safety guarantees before they can reliably store their data on untrusted nodes. So providers are required to put up security deposits and the network is designed to be tolerant to their byzantine behavior, to punish malicious nodes by slashing their deposits and to reward honest nodes for diagnosing and reporting byzantine behavior. A mechanism called Proof-of-Query is used for the diagnosis and deposit slashing is enforced by a smart contract system. Still early days, look forward to seeing their progress in the coming months.
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