What is Datacoin?
Datacoin is intended to be reliable censorship-free data storage and a currency to pay for this storage.
Data is stored in the blockchain “forever” (as long as blockchain exists) and can be retrieved with transaction hash as an identifier. It is considered as a platform to be used by applications (and not directly by users): torrent trackers, encrypted messaging services, etc. Blockchain is not considered as a place to store heavy data like video files: this should be too expensive. Instead developers can store torrent files, certificates, possibly some HTML pages and other kinds of metainformation in Datacoin blockchain.Release date: October 8th, 2013
- Perpetual data storage in blockchain (no one can censor and delete info!)
- Fast transactions, 1 minute between blocks
- CPU-mining coin
- Primecoin hashing algorithm