An anonymous bunch of Bitcoin enthusiasts are launching an extremely ambitious project that aims to create a decentralized Internet, in which all storing, routing and bandwidth are carried out by nodes running “bitcloud”.
An anonymous bunch of Bitcoin enthusiasts are launching an extremely ambitious project that aims to create a decentralized Internet.
It’s called the Bitcloud, so-named because of its primary inspiration Bitcoin, on which the code and dynamics are based. While it currently exists mostly as a bunch of developing documents living on Github, enthusiasm is catching on, and contributors are building the idea into something more substantial, and fleshed out.
Bitcoin is a decentralized currency; Bitcloud is a decentralized Internet. Abandoning the hierarchy of ISPs, and other Internet authorities, Bitcloud works similarly to a P2P network, in which every connected computer has equal rights.
In Bitcloud, these computers – known as “workers” – are awarded incentives for doing certain network tasks, such as providing bandwidth, storing, routing, hosting ads, and much more.
The workers exist in three classes: user, node, and publishers.
Nodes are the foundation of the network, running Bitcloud, and providing “proof of bandwidth” to keep things running smoothly.
Publishers approve and categorize user content, and can also approve advertising for which they set a price and are paid.
The humble users are the ones who enjoy the advantages of a decentralized Internet. They are the ones who send and receive content.
Money is what keeps all of Bitcloud together. The hope is that, with the chance to make some greenback, everybody will come together and stick with the program. Rewards will come in the form of digital coins, and it will be possible to charge for content hosted on the system.
The question that may nag at the back everybody’s mind is “Who will rule?” It’s very simple – the initial laws, known as the ‘Bitcloud Cryptographic Law’ will be set by the developers. In future releases of the code, these laws can change and develop.
Collectively, the nodes and clients function as ‘judges’ who emit verdicts. Decisions in Bitcloud will be decided on concensus, thereby rendering the network something of a direct democracy.
In the end, it is hoped that Bitcloud can procure replacements for popular Internet services such as YouTube, which would turn into the decentralized equivalent “WeTube”.
While it is reasonable to be skeptical of Bitcloud’s future, Bitcoins have already proved that decentralized networks can work. Given the problems arising with traditional Internet, including ISP throttling, content discrimination, and snooping from corporations and the government, decentralized and open source Internet may be a welcoming concept for the future.
Source: Bitcloud whitepaper