Many agree that blockchain technology has the potential to cause paradigm-shifts in many aspects of the global business process. Decentralized technology is already making inroads into the cloud storage landscape by leveraging the benefits of blockchain security and reliability, ensuring the fidelity of stored data, as well as, user privacy.
Recently, Ethereum World News (EWN) caught up with Lucy Wang, co-founder, and CMO of Lambda , one of the leading projects in the decentralized storage ecosystem to discuss on matters relating to blockchain storage, as well as the proof of keys event. Here are some excerpts from the interview.
The Lambda Approach to Blockchain Storage EWN: What are the unique aspects of Lambda’s approach to blockchain-based storage that sets it apart from competitors both within and outside the decentralized technology industry?Lucy Wang: Lambda is the first project to announce a working Provable Data Possession (PDP) protocol called the Lambda Provable Data Possession (LPDP). Furthermore, the project has completed five key innovations:
Innovatively designed the Validator role which provides verification service for storage proof. The Validator replaces the storage miner as the full-time storage proof result verifier, which significantly improves the performance of the storage and retrieval system. In response to the limitations of the Provable Data Possession (PDP) algorithm, Lambda innovatively created a consensus network on the blockchain and used the validators role to replace the Third-Party Administrator (TPA) in the PDP algorithm. Innovatively modified the PDP algorithm from synchronous to asynchronous communication, which dramatically reduces the communication traffic for Challenge in the system. Use of chain data as a random seed for storage miners to issue the Challenge themselves addresses the randomness of TPA challenges. Innovatively upgraded the PDP algorithm from periodic verification to a verification set generated by the miners to submit the verification result at one time and fully realize the Proof-Of-Space-Time (PoST) verification. In Lambda’s consensus network, a set of Validators is randomly selected through the Virtual Routing and Forwarding (VRF) mechanism, and the results of the storage proof are verified by the Byzantine Fault Tolerance (BFT) consensus, which solves the problem of the reliability of the single TPA verification.
EWN: Ordinary folks tend to find the learning curve for new technology to be quite daunting. How does your project plan to make its solutions easy to understand for the everyday user?
Lucy Wang: Lambda’s user adoption is completed in phases. In phase one, we only target existing users who are familiar with the domain that Lambda is in. In the next phase, we expand to a new user base by existing users word of mouth. We simplify technical language and parameters by using business language and other straightforward methods to explain how people can use Lambda.
Getting the Network to Scale EWN: Two of the major problems for blockchain-based projects are security and scalability. Considering the sheer scale of the project’s ambition, how do you guys plan to make it scale while ensuring robust security. Lucy Wang:Security, reliability and high performance are three critical features of an unlimited scalable decentralized storage.
First, the Lambda Chain consensus network is a trusted mechanism guaranteeing the integrity and security of data by completing technical verification processes on the blockchain. To ensure access security, Lambda provides an access control plan based on multi-authority attribute-based encryption (MA-ABE), along with data encryption capability and the option to remove attributes through agent encryption.
Second, Lambda applies three measures to ensure reliability: 1) incentive and sanction strategies 2) POR technology and 3) consensus network order restoration and data restoration.
Third, the high performance of a decentralized storage project mainly depends on four aspects: 1) the transaction processing capacity of the consensus network 2) the matching capacity for storage orders, that is, contract signing efficiency 3) the data upload capacity after order matching and 4) the delay control capacity when accessing data.
Proof of Keys EWN: Simply put, what is Proof-of-Keys?
Lucy Wang: “ Proof of Keys“ is an event that was initiated by a notable early crypto enthusiast Trace Mayer . During this event, cryptocurrency holders are urged to remove their crypto assets from exchanges and other third parties in an effort to prove solvency . The idea is that if the exchanges actually hold customers’ crypto assets (which they claim to store for customers after deposit), then all customers should essentially be able to remove their assets from those third parties at any point. Focusing on the fact that crypto holders should know how to store and protect their crypto private keys and effectively transfer them into their own possession at will.
EWN: Lambda recently launched the first-ever open-source Proof-of-Space Time (PoST) algorithm for developers on GitHub. How does the upcoming Proof-of-Keys factor into the general storage ecosystem that the project is trying to create?Lucy Wang: In a permissionless P2P structured environment, security and reliability are the key factors to ensure mass adoption from everyday users. For cryptocurrency storing, the creation of “Proof of Keys” event is to call out attention from all the adopters that store your crypto assets and build awareness around user rights and transparency in the full number of assets and time span of the assets being stored.
In terms of a decentralized storage solution, the concept is exactly the same. We want to encourage every user to protect their data privacy by requesting the solution provider and its proof of storage verification to ensure your data has been stored the whole time of your purchased service. This is what we call the key module of a decentralized storage solution is ‘Proof of Data Integrity’ and this is something all the players in this domain are fighting to develop. PoST algorithm is a concept that was initially introduced by FileCoin to address this problem, however, Lambda is the first ever in the world to develop and to publish the codes on GitHub.
Image courtesy ofShutterstock and Bitcoin Magazine.
The post Security and Reliability are the Hallmarks of a Robust Block
