AskFeebs: 0Chain Address — April 10, 2020

Each week, hosts an AMA with 0Chain’s Operations Director, Derick Fiebiger, to address questions from the community. Without further delay, let’s dive into this weeks address:

Greeting

• Welcome to AskFeebs — a weekly address where your questions on crypto and 0Chain are answered. I’m Derick Fiebiger, Director of Operations for 0Chain, and I thank you for joining me. Let’s hop into things.

0Chain Highlights

• 0Chain is an ambitious blockchain project focusing on decentralizing data storage and tokenizing the value of that asset through their ZCN token. The focus of this channel is to focus on briefing the community on 0Chain updates and providing insightful answers to community questions.
• We are returning to weekly briefings via AskFeebs. You can message Chad, our Community Manager, via or via from our weekly thread. One disclaimer on questions, we want questions that cannot be easily found on Telegram, etc. These will be questions that require some more in-depth answers from the team.

Questions & Answers

First question: Since raid is not recommended: I guess we will need to run a blobber per disk not per server/node?
Answer: Raid is striping data, and uses redundancy to protect files in the event of disk failure. In the event of failure, your data is safe. We don’t use Raid. We leverage erasure encoded redundancy in another fashion through the cloud. If a blobber reaches the limit on your hardware (maxing out storage on blobber), then we can tier the data out in the cloud (s3/glacier/object_storage anywhere) using our tiering software.

Second question: With one blobber per disk in mind, how does the security deposit/staking work?
Answer: Blobber wallet is separate from blobber server. We will have a delegate wallet for the blobber to prevent him from losing his stake if server is compromised. If keys are compromised on the server, it won’t affect the wallet and vice versa.

Third question: How does the Oracle partnership benefit the 0Chain ecosystem and what is the scope of the AWS partnership?
Answer: Oracle and AWS will help us build the 0Chain brand and enterprise customer base, which will in turn benefit adoption for the public network. For both Oracle and AWS, we belong to their partner networks. What is a partner network? A network of partners that is akin a virtual shopping mall where enterprises are the shoppers and the partners are the stores. It doesn’t necessarily guarantee clients, but it gives us credibility and provides a platform for new clients to come in.
— For Oracle specifically, we are working closely with them on their Oracle Blockchain, and bringing value to it by enabling a dStorage feature via their blockchain. There isn’t much more we can say than this, but you can pop into Telegram if you want more specific details, assuming we’re allowed to share them.

Fourth question: From Colt45: Do you know how much data on the Network needed to reach $1?
Answer: For those unaware, the minimum intrinsic value of ZCN will be tethered to the rate of data storage on the network. As for why this is the case, to put it into very simple terms — both the storage user and the storage provider must lock up a rate of ZCN that will be proportional to the amount of storage being provided. This aligns the minimum intrinsic value of ZCN with the rate of storage. That said, we say minimum intrinsic value because traders are speculators, and crypto assets especially tend to factor in future speculative value as well. A minimum intrinsic value strips out any speculation, and gives it the bare minimum value.
— So Colt45 is asking, if ZCN is trading at its minimum “intrinsic” value, and that value is at $1, what is the total amount of data that would be on the 0Chain network? The answer to that (given current market rates) is 4 Exabytes, which in 2 years would be .005% of the global data sphere (all the data in the world). There are a litany of other factors that influence price as well, like locking effecting supply, speculation, interest, and other use cases on top of the network. This is just one of several factors bringing intrinsic value to ZCN.

Feebs: That’s it for this weeks update. I want to keep these as short as possible. I will see you guys next week!

Thanks for taking the time to read and watch our AMA. Please tune in for the next episode of AskFeebs. Please subscribe to our channels and keep your eyes open for our next episode of AskFeebs.

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