Dear Storj Supporters,
Test Group B is the first time we will be rewarding DriveShare users for participating in the Storj network. Test Group A got us usable data on network latency, disconnects, uptime, and other factors. In this test group we will be specifically testing out reward mechanisms, and expanding the storage capacity of the network as a whole.
Scaling Network Capacity
To get the most out of Test Group B we need to have larger capacity requirements to ensure that nodes/farmers are providing storage space in a scalable manner. The key milestones of Test Group B will be expanding this storage capacity, and making sure our verification and auditing algorithms scale as well. So we define the capacity milestones as follows:
- 100GB: 100 peers, storing 1 GB each.
- 100TB: Using the same farmers we would scale the limits for each user to about 1 TB.
- 1PB: We will make sure to have an ample amount of farmers before we try to reach this milestone. The capacity limits per farmer will most likely be lifted at this point, or greatly expanded.
Below are the steps a farmer will go through for Test Group B:
- Farmer authenticates to DriveShare Live.
- Farmer receives Contract/s to store.
- Farmer periodically performs audits on the files.
- Farmer receives payment for its contract/s.
At the end of the crowdsale we had about 5,000 newsletter subscribers. We are now approaching 15,000 subscribers. It is safe to say that the reach of our project has grown considerably. Most of the focus will be on Test Group B, which means extending the timeline for Test Group C. Rather than leave these people out, which would not be very considerate, we can adopt a structure that will allow these users to join Test Group B.
Rewards will be tiered based on the capacity milestone we are reaching. We want to start with smaller rewards and tier up as we reach capacity milestones. So more data, more farmers, more rewards. Rewards will not start until we first reach the 100 GB milestone. 1,000,000 SJCX will be provided for the entire testing phase, with more being provided by new participants.
We have come up with a plan that allows new users to participate, for the benefit of all users. Participants in the original crowdsale will not have to do anything else. New participants can contribute 10,000 SJCX to buy an address for Test Group B. Any SJCX contributed will go to the total reward pool for Test Group B. Do note that for full rewards crowdsale participants will have to hold 10,000 SJCX in their crowdsale address balance.
- Bitcoin Microchannels: Although we would like to use true micropayments for this test group, Bitcoin micropayments are not very mature. Bitcoins would have to be collected to be used as payment in a test group. It is unlikely that this will be implemented this time around, but could be implemented in later test groups.
- Batch Send Micropayments: Because Counterparty tokens are extra metadata on the Bitcoin blockchain, there is no concept of dust. This allows us to send many payments to multiple addresses using sendmany. We have a working batch-send library completed, and most likely will be using it for Test Group B.
- Pay at Completion: At the full completion of the test group, all the farmers would be paid their respective sums. Farmers would be able to track their expected rewards through the test group. While not as responsive as the other two options, it is the easiest and more secure implementation.
SJCX = reputation points, and license key
Rewards are directly proportional to the SJCX balance held in farming address.
- 10,000 SJCX = Full Rewards.
- Less than 10,000 SJCX = Less Rewards.
Existing Crowdsale Participants
- If 10,000 SJCX balance in crowdsale address = farm with full rewards.
- If less than 10,000 SJCX in crowdsale address, top up to 10K for full rewards.
- Farm with little or no rewards (if very little SJCX held).
- Farm with scaled rewards (less than 100% of 10,000 SJCX).
- Can buy Test Group B Address for 10,000 SJCX.
- They always get full rewards.
Based on our Test Group A data, we are re-architecting a few things. We expect to have the first capacity milestone met in the next 2 months. Stay tuned for further announcements, and be sure to leave your comments on Slack.
Have a great day,
The Storj Team