Apparently, the world has yet to see what Bitcoin Cash (BCH) has to offer. Certainly, the blockchain is seemingly expanding its focus, tilting toward file storage. Ever heard of BitcoinFiles? It is a new revolutionary service that enables users to upload their files onto the BCH blockchain with minimal fees. When a user succeeds in uploading his file, the blockchain guarantees that the file is saved for good. Based on the Bitcoin Files Protocol (BFP), the process uses the permission-less and anonymous attributes of BCH. As a result, users can upload their files without the need for some form of identification (unlike other online storage facilities).
How it Works
BitcoinFiles is the final application of an algorithm,which the team behind SimpleLedger Electron Wallet developed. Notably, BitcoinFiles aims to spur users to upload, download, and manage their files on the BCH blockchain. At the early stage of this development, the BitcoinFiles team embedded the first client in this wallet version within the token creation ecosystem. Also, it was just possible to upload small files of less than 5Kb onto the BCH blockchain, nothing more. Despite the infinitesimal size of the file involved, the process of uploading it was also cumbersome and quirky. As if the process wasn’t tasking enough, to upload files, users have to install SPL wallet and fund it with BCH.
BitcoinFiles Is the Game-changer
However, BitcoinFiles aims to simplify the process. With this end in view, BitcoinFiles offers a graphical UI alongside the integration of a MoneyButton service. With these functions, users can pick the files in an intuitive way just like a usual storage service. In addition, the MoneyButton, or via a QR code, users can pay the miner’s fee, which enables them to seamlessly upload their files. Upon uploading the file, BitcoinFiles generates a unique URI, a URL-like string that enables the user to recover the file in the future.
Also, they can download the file whenever they want if they simply visit their webpage and use the URI. After downloading it, they may or may not share it. BitcoinFiles guarantees that the files will be saved on-chain for good.
Why Blockchain?
Many people have nonetheless wondered what the point of storing files on blockchain was for in a market with many cloud storage services. Make no mistake about it, blockchain offers some advantages. First of all, BitcoinFiles allows users to upload and manage their files on BCH blockchain anonymously. This is not the case with the cloud system we have today. Secondly, BitcoinFiles allows applications to implement it in a way of storing important files that will be used in the future. Despite the gains of this file storage approach, the limited size of files seems to be the setback not yet resolved.
RISK DISCLOSURE
This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
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