Name: Oyster Protocol
Supply: There is 31,823,026 circulating PRL out of 108,592,692 PRL for 29.3% of the coins in circulation.
Oyster Protocol [Prl] provides a framework for accessing a decentralized mesh network. This network connects website owners, storage users and nodes (Web and Broker).
The Oyster Protocol enables websites to generate traffic revenue as visitors perform Proof of Work for a decentralized storage ledger. Web Nodes are everyday computers, smartphones, cars - anything with a modern web browser. They communicate with each other directly, only needing occasional connection brokerage from Broker Nodes. Web nodes recompense for their work is granted access to content/goods/services from the corresponding website owner.
Website owners and broker nodes are rewarded with PRL token.
PRL is an Ethereum-based ERC20 token that serves as currency on Oyster's ecosystem.
Oyster is a new solution that grants a parallel revenue stream to websites by adding one line of code.
Website visitors contribute a portion of their CPU and GPU power to enable users' files to be stored on a decentralized and anonymous ledger. In return, such users indirectly pay the website owners for maintaining the storage of their data.
Files uploaded via Oyster are stored on the IOTA Tangle. This means that an excess of redundant duplicates are stored throughout the network topology of the Tangle, therefore mitigating the threat of data loss. Nodes running the Oyster Protocol perform Proof of Work to guarantee that the Tangle retains the data.
The IOTA Tangle (Directed Acyclic Graph) is used for data retention and Proof of Work negotiation between Nodes. The Smart Contract technology of the Ethereum Blockchain is used to produce Oyster Pearls (the token), therefore activating the unique token attributes that enables Oyster operation.
Oyster Web Nodes perform Proof of Work to search for embedded Pearls on the Tangle, which inadvertently commits the user uploaded data to the Tangle. It's like how a bee tries to get the sweet nectar of a flower, so it inadvertently pollinates the flower with the pollen on it's body. All activity across the Oyster network is economically motivated, no aspect of the Protocol relies on altruistic actors.
No personal information, usernames, nor passwords are ever used. Each uploaded file is assigned a unique handle, which acts like a private seed key. Anyone that has the handle can retrieve the data from the Tangle, even if they were to use their own custom-built script and Tangle Node. Mixer contracts on the Ethereum Blockchain can conceal who paid for the storage.
The Oyster Protocol is developed in a community driven model without any single point of failure. Extension projects can be built on top of the mesh-net topology and protocol API. This enables a whole class of truly decentralized applications to be built; such as decentralized telephone calling. Anyone is able to develop clients or extensions without permission from a central figurehead.
The public Oyster Testnet allows you to test how Oyster will work, and you can use it here. It doesn't cost any PRL to use. The current maximum file upload size is 200kb, and there are 543,469 Oyster transactions on the IOTA Tangle as of the publishing of this article.
Oyster Pearls are the bridge between the motivation of a user to spend money on reliably storing data and the motivation of a website owner to cleanly monetize their web content. The Pearl Token (PRL) is unlike any other coin, it is intrinsically pegged to the market value of storage prices without requiring a reserve to back it up. The crowdsale price was offered at a fraction of storage prices, therefore early investors earn profit with low downside risk.
On April 6, 2018, each holder of PRL will receive a 1:1 ratio of SHL for each PRL crypto held. Kucoin the exchange PRL is predominantly traded on expressed their support for the airdrop. Now holders of PRL in their wallets or on the main PRL exchange can easily attain the SHL tokens.
As at April 3, 2018, the airdrop was announced to be delayed.
The Airdrop will now take place on April 13, 201&.
An example use case is this;
You want to call your friend in a decentralized and secure way. The app on your phone looks for peer-to-peer connections (Bluetooth and WiFi) with other phones running Oyster nearby and a meshnet call is made, therefore bypassing the ISP. SHL is used to pay for connectivity instead of a monthly ISP bill.
No third party can trace, block or listen into the phone call. The Oyster chat group migrates from Telegram/Slack to the Oyster chat Dapp. The Oyster team pays the Oyster network in SHL and PRL to run the group chat Dapp.
You want to access content that is blocked by your ISP and avoid getting tracked, your computer connects directly to the Oyster meshnet by finding a peer-to-peer neighbor (Bluetooth, WiFi, LiFi).
Your SHL wallet is used to fund connectivity and bandwidth usage.
Kucoin with the BTC/PRL ETH/PRL NEO/PRL pair.
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