WiMi Hologram Cloud, a leading global Hologram Augmented Reality (“AR”) Technology provider, announced that a decentralized file storage and sharing system is built by applying the bitcoin algorithm distributed hash table (DHT) technology.
The Bitcoin network is a distributed network consisting of many nodes with no centralized control node. WiMi draws on this decentralized idea to build a file storage and sharing network consisting of multiple nodes. Each node owns a certain amount of storage space and is interconnected with other nodes. This distributed storage eliminates the dependence on a single data center and improves data security and fault tolerance.
Read More about Fintech : What Are The Fintech Lending Benefits?
A DHT is an underlying algorithm for a distributed network that maps a file’s hash to the address of the node storing the file via a huge file-indexed hash table. Bitcoin’s algorithm can be applied to build such a DHT system for decentralized file storage and sharing. Bitcoin’s algorithm provides strong technical support for decentralized storage with its decentralization, security, and immutability. DHT is a distributed mechanism for storing and retrieving data. In WiMi’s system, DHT is used to slice files into small chunks and store these chunks dispersed across multiple nodes. Through the hash function of DHT, the system can determine the storage location of the file and realize efficient data retrieval. When a user uploads a file, the system slices it into small chunks and stores them on other eligible nodes; when a user downloads a file, the system retrieves the data chunks from the corresponding nodes and reassembles them into a complete file.
In this system, files are split into small chunks and hashes are computed using Bitcoin’s hash algorithm. The hash of each file block is used as an index to map it to the address of the node where the file block is stored. In this way, when users need to access or share a file, they only need to provide the hash of the file block and the system will be able to look up the address of the node storing the file block from the DHT and transfer the file block to the user.
Decentralized technology improves system reliability and reduces the risk of a single point of failure by having nodes in the network work together to maintain and manage file storage and sharing. Bitcoin’s hash algorithm and blockchain technology ensure file integrity and tamper-proofing by verifying the hash of a file block to protect the integrity of the file against tampering and corruption.DHT technology allows file blocks to be distributed across nodes in the network, enabling parallel and distributed file storage and sharing, improving system performance, and speeding up file transfers. In addition, Bitcoin’s algorithm enables anonymous file storage and sharing, allowing users to upload and download files using anonymous identities to protect their privacy.
By utilizing Bitcoin’s hash algorithm and blockchain technology, the integrity and tamper-proofing of files is effectively protected. The system verifies the hash of the file block to ensure the integrity of the file and prevent tampering and corruption. In addition, DHT technology allows file blocks to be distributed across nodes in the network, thus realizing parallel and distributed storage and sharing, greatly improving the performance of the system, as well as speeding up the transmission of files.
In addition to efficient and secure file storage and sharing, Bitcoin’s algorithm provides the system with anonymity. Users can upload and download files using anonymous identities to protect their privacy. This anonymity feature increases users’ trust in the system and comfort in using it and further satisfies their need for data security and privacy protection.
The decentralized file storage and sharing system built by WiMi that applied Bitcoin algorithm DHT technology, not only improves data security and reliability but also combines efficiency and anonymity. The application of this technology is of great significance in meeting the growing demand for file storage and sharing and promoting the development of the Internet.
Latest Fintech Insights : How Does Fintech Makes Money?
[To share your insights with us, please write to pghosh@itechseries.com ]
