I wrote this on another platform (LI) and thought it would …
I wrote this on another platform (LI) and thought it would be good to post here for understanding [[BSV Tech]].
Imagine a library with no Dewey Decimal or Library of Congress classification system. You would call it chaos. 𝐁𝐢𝐭𝐜𝐨𝐢𝐧(𝐒𝐕) is a timestamped index, among other things. It needs an architecture that can support efficient organization and retrieval of data across its vast ledger, 𝘭𝘪𝘬𝘦 𝘢 𝘥𝘦𝘸𝘦𝘺 𝘥𝘦𝘤𝘪𝘮𝘢𝘭 𝘴𝘺𝘴𝘵𝘦𝘮. The Overlay architecture in the BitcoinSV system solves this problem. Listen to this brief video linked below for more information, but to summarize:
𝐎𝐯𝐞𝐫𝐥𝐚𝐲 𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐬𝐩𝐥𝐢𝐭 𝐝𝐚𝐭𝐚 𝐬𝐭𝐨𝐫𝐚𝐠𝐞 𝐢𝐧𝐭𝐨 2 𝐩𝐚𝐫𝐭𝐬:
+ actual files stored in cloud (AWS, Google Cloud, etc.)
+ just fingerprints (hashes) stored on the blockchain
𝐖𝐡𝐞𝐧 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 𝐚 𝐟𝐢𝐥𝐞:
+ system looks up hash on blockchain
+ retrieves actual file from cloud storage
𝐌𝐚𝐢𝐧 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬:
+ saves blockchain space (only stores hashes)
+ creates auditable version history
- each update gets new hash
- previous versions remain traceable
+ provides proof of data integrity
+ pay per file instead of monthly subscription (!!) < microtransactions >
note: this is an description of overlay services for 𝘥𝘢𝘵𝘢 𝘴𝘵𝘰𝘳𝘢𝘨𝘦 - there are other use cases the Overlay services provide
Replies
video for above post here: https://youtu.be/ho1N7w_cD2Y?si=nDrcGW6DLWbyRXTL