To address these challenges of data security and sustainability, Ternoa developed a public blockchain solution. Interestingly, it specializes in the storage and transmission of data over time and even beyond death.
In simpler words, Ternoa guarantees its users that the data stored on the platform will be available for several decades. Along with that, the users can store information in any format and they will own exclusive rights to manage the access and availability of this data.
Ternoa – NFT based Decentralized Data Transmision Blockchain
The above subheading might sound confusing. Here is the simplest possible explanation of the same. Ternoa is a blockchain project that facilitates storing and sending personal data in an anonymous, immutable and secure manner.
It uses decentralized storage to store this data which is then passed down across generations. Interestingly, it uses non-fungible tokens (NFTs) as the transmission technology. Moreover, it is capable of sending a variety of data like photos, videos, passwords, legal documents, bank details, and more. Along with that, it is also capable of triggering event-based data transfers.
Source: github.com
How does Ternoa work?
The Ternoa Application allows the creation of “Time Capsules” which are basically non-fungible tokens (NFTs) issued on the Ternoa blockchain. They help in encrypting, storing, and transferring data in a secure manner. These time capsules, contain personal data and can be passed on from generation to generation.
The project team plans to deploy the basic NFTs in 2021. Along with that, it will also deliver an NFT marketplace based on the SubstraPunk project. This will offer everyone an opportunity to create and sell Ternoa compatible NFTs.
Elements of Ternoa
The Ternoa data transmission system functions on the below-mentioned core elements:
Ternoa Chain
It comprises of leading decentralized storage providers like SIA, Storj, Filecoin, and Arweave. The process is to encrypt the data, segment it, and then stored it across the above storage providers. Furthermore, it uses new types of NFTs with extended owner privileges. These help in data transmission.
Moreover, multi-party cryptography helps secure the data in NFT. Intel SGX secure enclaves support this kind of cryptography. Furthermore, the reliability of the data is ensured with the use of Polkadot Parachain.
Polkadot NFT marketplace
In the marketplace, users can purchase customized Time Capsules. These are basically NFTs and are used to encrypt, store and transfer data. The specialty of these NFTs is that they are watermarked. Thus, only the owner and holder of this NFT can see a high-quality version of the data stored.
Transmission protocols
The team is currently building 5 types of transmission protocols namely:
- The Safe Protocol – Basic storage concept protocol
- The D-Day Protocol – Programs exact date of receipt of a time capsule for the recipient
- The Consent Protocol – The issuance of a capsule can only be authorized by a group of users.
- The Death Protocol – Once the creator dies, the time capsule transfer is triggered.
The Countdown – The time capsule transfer is triggered once the countdown completes.
Each transmission protocol is suitable for a different type of use case.
Ternoa Wallet
Coin Capsule is the native token of the Ternoa Blockchain. It is used to pay for transactions made on Ternoa blockchain like the creation of NFT, data encryption, and data storage over time. To send time capsules and manage the tokens, the users are provided with Ternoa’s cryptographic wallet.
How does Ternoa enable interoperability?
Ternoa network can communicate with DEX storage blockchain. This is enabled by the Substrate framework and Polkadot blockchain. Unlike cloud storage, Ternoa keeps a copy of original data on its own network and then the encrypted copies of files stored in time capsules are stored on Aerweave, Sia, and Storj.
As the files are encrypted and fragmented in multiple storage places, the security of data is maximized. Furthermore, it uses an atomic swap module to swap Capsule Coin Token to the native tokens of servers like SIA and Storj.
What kind of consensus does Ternoa use?
Ternoa blockchain uses Nominated Proof-of-Stake (NPoS) consensus mechanism. It is a mechanism developed for Substrate-based blockchains and is much similar to Delegated Proof-of-Stake (DPoS) mechanism. Thus, it has both nominators and validators. NPoS is based on a process of selecting validators who are authorized to participate in the consensus protocol.
Each wallet that holds Capsule Coins (nominator) can participate in choosing a validator and he can delegate his tokens to it. Based on the delegation duration and delegated token amount, a nominator can earn rewards.
To conclude:
Undoubtedly, Ternoa Blockchain is a transparent and highly secure platform for storing data over generations. Most importantly, it is designed as an open system that can interoperate with other decentralized ecosystems. This ensures the platform is capable of scaling its functionalities and performance.
Disclaimer
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