San Jose, CA, December 09, 2022 (GLOBE NEWSWIRE) — Web3, fully decentralized, has been touted as the next iteration of the Internet. For that to happen, decentralized storage needs to be a practical reality, and many decentralized storage projects have grown out of this need. In 2019, Filecoin innovatively used two consensus mechanisms, PoRep and PoSt, to create a lot of excitement around decentralized storage. Arweave is committed to providing permanent storage services. In 2021, Sia, which adopted the dual token model, joined the decentralized storage market. These projects address different aspects of decentralized storage, but there has been an obvious need in the market: a fully decentralized and efficient marketplace for buying and selling decentralized storage. Datamall Chain (DMC) now solves this problem.

DMC is a decentralized storage trading marketplace open to everyone. It matches storage providers with storage demanders so that individuals and businesses can become DMC miners (by providing storage space), participate in storage trading, and receive token rewards.

As a premium trading platform for decentralized storage, DMC has incorporated 2 important sets of functionalities to ensure that DMC is a highly efficient and functional marketplace for decentralized storage:

First, DMC requires storage providers to demonstrate their storage service capability. It also increases costs for bad actors through a punishment mechanism. Proof of Service Token (PST) refers to proof of miners storage service capability and miners need to stake Datamall Coin to mint PST. At any time during the term of a storage contract, a customer can initiate a storage challenge. The storage challenge is checked first. If a client finds out that the challenge fails and it is confirmed, then the smart contract will punish the miner with a significant fine.

Second, DMC encourages and supports individuals and companies to become DMC miners and earn token rewards such as income by providing storage space, which is the foundation for DMC to build a strong ecosystem. DMC miners now have almost zero entry cost. With just one device, anyone can become a miner and earn tokens by providing storage space and successfully completing storage deals. Current data from the website shows that DMC miners come from all over the world, including Singapore, the United States, South Africa, and Hong Kong. Like all decentralized projects, DMC is also concerned with centralized resources and power in the ecosystem. Centralized storage is more vulnerable to attacks and data loss. Distributing data across multiple nodes (and removing central services) makes the entire storage network more resilient and data loss or unavailability much less likely.

Therefore, increasing the number of miners in the ecosystem is always a priority. The more miners there are, the more decentralized the network nodes are, the greater the security and flexibility of the entire network. This is a fundamental need in the decentralized storage market.
Going it alone is no longer a survival tactic in Web3. Only a concerted ecosystem can bring together the strengths and resources of the participants. “Joint action” is another step DMC has taken to build a powerful ecosystem. Just this month, DMC announced that it has established strategic partnerships with five major companies: OKX Ventures, OKX’s investment department, Gate.io, the world’s TOP10 digital asset trading platform, BIT Mining, a cryptocurrency mining company powered by for the technology, IPFSMain, a world-class Web3 service provider, and BCT Inc., an international cryptocurrency mining corporation.

OKX and Gate.io are digital asset trading platforms with a large user base, and the projects carried out by these platforms have a growing demand for decentralized storage. DMC hopes to attract more storage providers and buyers. Additionally, Fog Works, Inc., a DMC ecosystem application partner, announced in August that it had completed pre-seed financing of US$3 million, with OKX Blockdream Ventures being one of the lead investors. Fog Works has launched its first product, Foggie, the world’s first All-in-One Web3 virtual appliance. They plan to release various apps and gadgets to help users participate in the DMC ecosystem.

As Web3 continues to grow, the decentralized storage industry will receive increased attention. Decentralized storage is an inevitable trend, and DMC’s vision: building bridges to easily access global decentralized storage, matching decentralized storage demands with decentralized storage providers, activating global decentralized data storage markets, and finding a secure environment for each data, is essential. infrastructure for the decentralized storage industry and Web3 in general.

For more details, please visit DMC official twitter and DMC official website.
Twitter: https://twitter.com/datamallcoin
Discord: https://discord.gg/dmcofficial
Website: https://dmctech.io