Introduction to RIF pinning: a decentralized market for decentralized services
Decentralized file storage is a system for storing your files without having to depend on large, centralized data silos that do not infringe on important values such as the privacy and freedom of your information.
In a decentralized storage system, instead of storing all the data on a centralized server, the data is split into different chunks and stored in various nodes of a peer-to-peer (P2P) network.
IPFS is a peer-to-peer protocol and network for storing and sharing data in a distributed file system. IPFS uses content addressing to uniquely identify each file in a global namespace connecting all computing devices.
Unlike a centralized server, IPFS is built around a decentralized user-operator system that hold part of the global data, creating a resilient file storage and sharing system. It eliminates the need for websites to have a central origin server.
However, when it comes to smart contracts on a blockchain, each transaction is monetized and therefore paid for using gas fees. IPFS doesn’t have an inherently built-in economic incentive … So who’s going to “pay the bills” for file storage?
This is where pinning comes in! When a file is uploaded to IPFS, it will only exist as long as it remains pinned by the computer that originally uploaded it. But because the downloader is part of a peer-to-peer network, in order for it to be accessible by other IPFS users, it must also be pinned by other computers. The economy dictates that these other computers won’t experience any issues (or expense), unless they are able to earn compensation for it.
Enter RIF pinning
We are excited to announce the launch of RIF Pinning!
It allows a user to pay for the service of other computers over IPFS to pin their files. It also allows IPFS pinning service providers to list their services, and set their price per GB per month … Just like a file hosting solution, except that it runs on decentralized technology!
Of course, payment for services is made in cryptocurrency: Your choice of RBTC or RIF tokens.
How to use RIF pinning?
If you want to buy decentralized storage and upload your files to it, the process is simple:
If you want to provide decentralized storage and allow others to upload their files for you to Host them, the process is more technical.