The Casper ICO is scheduled to start on the 30th of June, so far the project has received high reviews.
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Storage is a huge industry now so it makes sense for companies to seek to offer it to others while also incorporating blockchain technology and making full use of cryptocurrency. That is the exact industry that we see this project operating in and even though the concept itself may not be unique, there’s no doubt that there is going to be enough room out there for a number of companies to operate while still making it a worthwhile investment for anybody that is interested in the ICO.
What is Casper?
Casper is seeking to take advantage of the increase in both cloud storage as well as decentralized apps that are going to make the process of storing and retrieving data substantially easier than before. However, the company claims that the cost of these apps remains far too high for most people while there are also numerous concerns regarding the potential safety of the cloud storage options as people try to cut corners.
The company claims that their decentralized blockchain option is going to remove those problem areas, so you can see why it would then become an attractive option for so many people if this does indeed turn out to be true.
What they are offering is a distributed data storage option that runs on the blockchain but you should note that they are not going to build the cloud and are merely focusing on the Dapp aspect and helping it to effectively do what it is designed to do. If they can achieve this, then it is going to turn out to be a pretty cool service.
The Technical Aspect of Casper
Created on the Ethereum platform, the new project is going to take advantage of the various security and stability features that automatically come their way thanks to using that as the core for their API. They state that their platform will allow anybody that has a Dapp on any blockchain with any kind of Smart Contract to then effectively store their data.
It is for this reason that the project should be seen as offering an infrastructure to developers and those that need to store data of various kinds and as it is a distributed source of data storage, then it results in them offering a decentralized approach which is always seen as being far superior to other concepts. After all, if it is decentralized then there is no one single point of entry that can become the source of DDoS attacks and put the entire storage at risk.
Their decentralized application then works by getting free space via Smart Contracts for the data to be stored. The Smart Contract then sends the user an address that is available but the API then becomes rather clever by copying the info on three different occasions so it is then stored in four places. This information can also be encrypted if you so desire.
The Advantages of Casper
You can easily identify a number of advantages associated with the project and the approach that they are taking especially with the way in which they copy the data onto different servers so if something goes wrong with one that at least the data is not lost. The decentralized approach will always work well thanks to the added security, and then you have the strength of the Smart Contracts that cannot be changed by anybody offering yet another layer of security to the deal.
The blockchain also results in the data being obtained immediately as a number of requests can be executed at the same time so companies can retrieve their data without having to wait around. Also, the fact that things are going to be substantially cheaper in nature will also be a huge bonus as fees outwith the blockchain can be higher than anticipated which does cost companies a substantial amount of money for a much poorer quality service.
The Financial Aspect and the ICO
For the ICO, the company is looking at accepting both ETH and BTC but they have excluded both the United States and China from taking part. There is both a soft cap and hard cap in place for the ICO with the soft cap being valued at $6,700,000 while the hard cap has been set at $31,800,000.
During this stage, there will be a total of 258,030,000 tokens created which equates to 58% of the total tokens that are going to be produced. At this point, the exchange rate that has been set equates to 1 CST equating to $0.16 offering you a sense of how they value their idea and the chances of them being able to reach their desired target.
There have been bonuses in place, but you need to invest a lot of money in order to get them which is different to a number of other opportunities that are out there.
Overall Conclusion About Casper and the ICO
The white paper that has been created by the team behind Casper is certainly very detailed, which does mean that you have a better sense of what they are hoping to achieve with their service as well as it giving you more confidence in their ability. There is no doubt that cloud storage is on the continual increase in popularity, so something that offers better ways to retrieve the data should be welcomed.
The idea itself is not unique, but when you are talking about a multi-billion Dollar market, then there is more than enough space for people to operate without standing on each others toes.
From an investment perspective, their desired target figures appear to be solid enough and you can see how the value of the tokens could increase quite substantially if they are simply able to get people to use their platform for their Dapps. Once people see how easy it is to use their platform, and the difference it can make to their data and accessing the cloud, then it will certainly draw in additional users which is going to push those prices up as a result leading to it being a worthwhile investment on your part.
Check out more details on their website.
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