The name of this project is somewhat confusing for its similarity with the name of the new Ethereum Protocol. He also works in the network of the ether, but released a completely different team and is intended for other purposes. It has a connection with Ethereum, since smart contracts are created on this platform, but it is somewhat ephemeral, since the service can work on different blockchains and even on several at the same time.
The Casper API creates an environment for distributed data storage. Existing systems are expensive and unfriendly towards the user. The tone in this industry is set by giants like Amazon, Microsoft, IBM.
But, like all monopolists, they do not keep up with the rapidly changing situation. Data centers and cloud services are centralized structures that spend significant funds for their maintenance and operation. And decentralized markets and the emergence of a huge number of new entrants require new opportunities at lower prices and with greater security.
The Casper API offers a different approach to storing information. The platform allows anyone who has enough free space on the hard drive to rent it out. According to the developers, it will allow to reduce the prices for users three times.
Free space providers create smart contracts that initiate customer search among the participants of the ecosystem. When the user is found and the files are uploaded to the storage, the automatic debiting of payment from the client Deposit begins.
The system is designed to store files with text data, video and audio, 3D models, etc. There is a possibility to store the backup data. And it is cheaper, because the payment includes the number of downloads, that is, the less often the user accesses the files, the cheaper it costs decentralized storage.
The supplier within the project should:
block funds on your account at the rate of 1 Casper API token for 25.6 Gb of free space;
provide a disk for client files;
provide high-speed Internet channel and round-the-clock access to the storage.
The user can store their files or backups in the vendor's storage for a fee. If the data is deleted, the smart contract returns the unused prepayment.
This project provides full transparency of all transactions, secure storage, favorable financial conditions. At the same time, all the usual functions of cloud services are preserved.
Payment system and token
The supplier receives payment for storage and unloading, and data download is free of charge. It transfers 15% of the earned to the Casper API Fund as a Commission. According to the developers, the supplier's costs for equipment, communications and electricity will pay off in about 5 months.
The client pays for data storage in the format: gigabytes per month. The tariff is tied to the dollar, but is paid by internal CST tokens. This is done because the data can be stored in several blockchains in parallel, so that there is no confusion, one token is chosen as a means of payment.
CST can be used to pay, trade on cryptocurrency exchanges, or rent out to other members of the Casper API ecosystem.
Initially, the token and smart contracts will work on the Ethereum platform. Later, it is possible to use other blockchains. Token CST created on the standard ERC 20. All tokens will be generated during the ICO (July 2018), no additional releases and mining.
The very idea of the project is interesting and is likely to be in demand. The developers offer several interesting technical solutions that add advantages to the project, in particular, Lightning network private channel, which creates the opportunity to use the Casper API at the corporate level.
In Whitepaper, several options for financial development scenarios are described in detail. At their most ambitious estimates, the growth in the value of the token by 2022 will be the X100, and the most pessimistic — X20.
Website : http://www.casperproject.io/
Facebook : https://www.facebook.com/CasperAPI/
Twitter : https://twitter.com/CasperAPI
Whitepaper : http://www.casperproject.io/docs/Casper_whitepaper_eng.pdf
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=1958827