CRYPTOKID: Module: A Blockchain Based Mobile Mining & Cloud Storage Network

It is estimated that 2.53 billion smartphones will be in active use in 2018, increasing to a projected 2.87 billion by 2020. Counterpoint Research Group estimates that by the end of 2018, the average storage space per user will top 60GB. This means that there is a vast amount of potentially untapped mobile storage space and computing power available. This is where Module steps in.

Module is a blockchain-based platform offering an asset of free mobile device storage. Module platform allows users to mine and rent unused GB even from small portable devices, which means that any mobile phone owner will be able to participate in the Module business and earn.

Module will take the unused storage space on mobile devices and put it to use for mining of the new MODL cryptocurrency, in effect replacing the old Proof-of-Work (PoW) algorithm with their Proof of Space, Time, and Transaction (PoSTT) algorithm. With the rapid growth of cryptocurrency use worldwide, the PoW mining load has increased exponentially and currently requires massive energy consumption and a heavy financial investment in computing resources. Right now, the energy consumed to transfer one full Bitcoin equals one week’s energy for a household of four in the US. This presents long-term environmental impact issues and raises questions concerning the PoW algorithm’s sustainability. Module presents any smartphone user with the opportunity to be a part of the alternative. By allowing anyone with a smartphone to support the blockchain community, Module will transform the mining environment from a place where infrastructure resources are in the hands of a few individuals, to a truly distributed blockchain where the public shares their resources.

In addition, Module will offer a P2P Cloud Storage Network (PCSN). Currently, the market model for cloud storage has been “trust-based” centralized storage. This model has been plagued by the loss of data to hackers and the system vulnerabilities of conventional networks. Using blockchain security and P2P distribution of data, Module will offer an innovative new type of cloud-based data storage with client-side encryption. Module will also provide for the hosting and development of Dapps (decentralized applications), the creation of new tokens, and a secret sharing system for decentralized, split data encryption.

The PCSN (P2P Cloud Storage Network), which made client-side encryption possible, enables a user to transmit and share data without having to rely on a third party’s storage space. The elimination of central control can alleviate problems such as traditional data errors and power cuts, while significantly increasing security, privacy and data control. Earlier, the P2P network was not suited for building a storage system. With this system we solve the inherent problems by implementing direct payment (Suggested solution) – (Method similar to the response verification system).

All these services will operate on the aforementioned PoSTT consensus algorithm. The PoSTT decentralized storage network can perform data storage and data transfer (downloading etc.) functions across two markets. The two markets are the data storage market and the data service market. A client and a miner determine the service price, form an ORDER in the market, and process each ORDER. This market is developed by POSTT, which includes both PoS (Proof of Space) and PoTT (Proof of Time and Transaction). Users will be able to store their data safely for any period of time they want. Finally, miners will support the blockchain by generating new blocks, and the opportunity for miners to earn rewards for exerting influence on the new blocks will be proportional to the storage space, time, and the number of transactions currently provided to the network.

Essentially, the user will be rewarded for the amount of space used, the length of time the space was utilized, and the number of transactions checked. Clients requiring storage can pay with cryptocurrencies earned in mining, the Module token, or by purchase in fiat currency.

The Module Token (MODL) will be used to pay for using other’s storage space, conducting currency transactions, and other services. The MODL token will also be rewarded to those who lend their space to Module and its users. The MODL token price is set at 0.008 USD.

Details Token ICO

Token Name: MODULE

Token Symbol: MODL

Token price: 0.008 USD

Platform: ERC-20

Accepted Currencies: ETH

Hard cap: 30 Million

Soft cap: 5 Million