Today is an important milestone of the FLOWCOIN project. The first phase of the FLOWCOIN test network will be launched on May 27, 2020 through the efforts of R & D personnel for more than a year. This signifies that the network will be open to FLOWCOIN miners worldwide. To join the upcoming FLOWCOIN testnet, you need the appropriate hardware configuration and installation and settings. More configuration information can be viewed on the official website news. For related installation and setup tutorials, please pay attention to the official news updates.
Any user can be involved in as a customer, store or retrieve the miners.
Customers pay for the DSN to store and retrieve data through the Put and Get request.
Storage miners provide data storage to the network. Storage miners provide their hard disk space in Flowcoin and serve Put requests. To become a storage miner, users must mortgage their hard drive space with collateral proportional to the storage space. Storage miners respond to Put requests by promising to store customer data at specific times. Storage miners generate proofs of time and space and submit them to the blockchain to prove that they have been storing data on network. In the case of prove invalid or lost, storage miners will be punished and lose part of their collateral. Storage miners are also eligible to mine new blocks. If new blocks are mined, miners will be rewarded for creating new blocks and the transaction fees contained in the blocks.
Retrieval miners provide data retrieval services for the network. Retrieve the data required by the miner to provide the Get request to the customer in Flowcoin. Unlike storage miners, they do not need to mortgage, promise to store data, or provide proof of storage. Storage miners can naturally also serve as retrieval miners. Retrieval miners can obtain fragments from customers or the retrieval market.
All storage allocations are public to every participant in the network. In each block, the network checks the existence of each assigned required certificate, checks whether they are valid, and takes corresponding measures.
If any proof is lost or invalid, the network will punish storage miners by deducting part of the collateral.
If a large number of proofs are lost or invalid (defined by the system parameter Δfault ), the network will determine that the storage miner is faulty and set the order to failure, and re-launch a new order of the same fragment into the market.
If every storage miner storing the fragment has a fault, the fragment is lost and the customer gets a refund.
As we know, the blockchain itself has life. Once a public chain is born, it will grow on its own. Maybe need care and attention in infancy, but once grow up, it will be able to resist risks
The growth of Bitcoin over the past 10 years is a proof. As is Flowcoin. Since the blockchain itself is the life of the digital world, the accompanying digital currency should also have natural attributes. The law of digital currency issuance usually decreases according to a certain law, which is similar to the radioactivity of elements. Can we use the same rules to issue rewards?
The answer is yes. This is what Flowcoin does.
Flowcoin stipulates that its token issuance (only referring to the block reward part) adopts a release method with a half-life of 4 years, completely imitating the decay law of natural radioactive elements. Specifically, the attenuation ratio of each round is the same. In other words, the total amount of coins remaining after each round of awards is the same as the total amount of coins remaining in the previous round.