Decentralization is one of the key benefits that blockchain promises as technology aims to distribute and distribute power from central authorities. Bitcoin, for example, was designed as a decentralized alternative to state-supported money.
However, many blockchain systems are currently working on centralized cloud platforms. It has been found that over 60% of all Ethereum nodes rely on cloud-based services, with 25% running on Amazon Web Services or AWS. As a result, these blockchain networks are vulnerable to policy changes and adjustments made by Amazon. This also leads to the question of whether These systems and the cryptocurrencies associated with them are really decentralized.
Kristof De Spiegeleer, co-founder and CEO of ThreeFold, told Cointelegraph that he has been building a peer-to-peer internet since 2016 to create a truly decentralized global web architecture:
“Currently, Fewer than 20 companies in the world own more than 80% of the internet capacity. The data is also located in huge data centers, which carry between 5 and 10% of the world’s electricity. This number will increase in the coming years. Today we have neither our data nor the applications on our phones. “
Spiegeleer, who previously worked on the development of the Internet ecosystem, said that the Internet was originally created to provide a platform for free communication and the exchange of values and goods. He plans to restore this with a new peer-to-peer Internet, in which centralized data centers will be replaced by a globally distributed network of nodes.
Spiegeleer, known as “Red ThreeFold”, stated that this model has a storage capacity of 80 million gigabytes. The network nodes belong to “ThreeFold Farmers”, which are located in over twenty-one countries. HP has partnered with ThreeFold to provide high-quality hardware to farmers. Spiegeleer explained:
“Our farmers have the physical hardware, such as memory or PC, that is needed to create the capacity to store data. However, the data within the nodes always belongs to the people or organizations that store the information there.” .
Like other decentralized models, ThreeFold Farmers are encouraged to join the network. Once farmers have connected the active hardware to the ThreeFold, ThreeFold (TFT) tokens are created that can be sold to those who want to use the storage capacity, e.g. B. a development building or hosting a website.
Despite being a low-level operating system, Spiegeleer assumes that such a model will lead to true decentralization that works more efficiently than other storage alternatives such as AWS.
Solve the blockchain dilemma?
It is also important to note that the workloads provided on the ThreeFold Network are managed by the ThreeFold Network Blockchain database. Known as BCDB, It is based on the Stellar network and is used to create a “Smart Contract for IT” layer.
According to Spiegeleer, the ThreeFold Network system contains a self-executing information technology infrastructure. This ensures that the workloads created in the ThreeFold Network are managed efficiently. Each participant provided can test this version well for others, since this model works similarly to other intelligent contract systems.
ThreeFold recently deployed a Bitcoin node in the ThreeFold Grid to test the efficiency of its smart contract layer. This enables everyone involved to check the integrity of the node via the smart contract for the IT layer. Spiegeleer also said that implementing a Bitcoin node on the ThreeFold Network demonstrates the ability of blockchain projects to scale, execute, and be secure, which was problematic for blockchain networks.::
“You can see our network as a hardware blockchain. We have a lot of nodes, no shell or server interface, and the space for a hack is small. The intelligent contract for the IT layer enables every blockchain project to have its workloads on ours to execute networks so that the blockchain dilemma can be resolved. “
Although this may be the case, skepticism remains. Barney Mannerings, founder of the decentralized Vega Protocol trading network, told Cointelegraph that it is difficult to understand how the ThreeFold Network model can be scaled while maintaining the privacy and integrity of user data:
“ThreeFold claims that a ‘capacity’ node (also known as ‘farming’) can run on almost any hardware, but without a very careful design with special secure processors, I don’t see how it can prevent node operators (which, as far as I am concerned) that can judge, they can be anyone and they are certainly not trusted. They access both the data and the software that runs on their network when a workload is active. “
Manners further noted that although Red ThreeFold doesn’t allow anyone to access its operating system, It is challenging to prevent farmers from accessing the code and data in this system. For this reason, he believes that the ThreeFold Network model may only be suitable for open blockchain models. He explained:
“This model can only be used for ‘open’ computing, such as running a Bitcoin node where it doesn’t matter that everything that happens is visible to the node’s owner (and possibly publicly) Workload is limited than this way, it may be more like a competitive blockchain or smart contract platform than a general ‘decentralized AWS’. “
Blockchain projects show interest
While manners address important points, many blockchain projects have started to show interest in the solution. The blockchain and crypto community is based on the values of decentralization and economic freedom and shares many of the same beliefs as the ThreeFold Network. Mark Heynen, vice president of business development at the Stellar Development Foundation, told Cointelegraph that Stellar is supporting the ThreeFold Network project and is pleased that it is building on the Stellar network.
Hans Koning, President of the DigiByte Foundation, also told Cointelegraph that DigiByte also shares ThreeFold’s vision. He explained, “Blockchain is more than a technology. It’s a social phenomenon and we see it in ThreeFoldDigiByte recently announced a partnership with ThreeFold to work on developer and user projects at the top of the ThreeFold network. Interestingly, the partnership with ThreeFold Days came after DigiByte founder Jared Tate left the organization. accuses the crypto community of being too centralized.
Rudy Bouwman, secretary and vice president of the DigiByte Foundation, told Cointelegraph that the ThreeFold Network works like a blockchain and found that there is not a single point of failure as it is completely decentralized:
“The ThreeFold Network community can now deploy a DigiByte node. This enables DigiByte to host our infrastructure on the ThreeFold Network, which makes it much more decentralized. This partnership also enables the DigiByte developer community and the ThreeFold Network to combine additional tools to develop from which both projects benefit. “
Its a lot to do
Although it is not obvious, decentralization is still in progress for many blockchain projects. And although ThreeFold shows the potential to change this, it is very important that this model is adopted.
For example, Spiegeleer noticed that ThreeFold is still trying to find the right market for its technology as this model can be applied outside of blockchain. He also mentioned that the company’s reach needs to grow and noted that many more nodes are needed worldwide. “We need to reach 100,000 locations. Once this happens, it becomes a self-fulfilling prophecy,” said Spiegeleer.
Mannerings also requires a more technical analysis of ThreeFold’s technology to support his impressive claims. He noted that not much technical information is currently available in the form of documents or algorithms. He also found that the solution did not appear to be suitable for private workloads.
However, Spiegeleer continues to rely on the new Internet model that ThreeFold is developing. The company is currently working on 15 blockchain projects and 15 more are waiting to join the network.