etho-coin

Etho Coin: Decentralizing Hosting

Ether-1, or simply Etho, has developed a particular decentralized network based on Ethereum’s code, with the main focus being the provision of decentralized storage services. Moreover, Ether-1 has some distinctive characteristics that set it apart from other replicated, copy-pasted Ethereum forks.

What is ETHO?

Ether-1 (ETHO) is an Ethereum fork that executes a decentralized hosting platform (EthoFS) that uses a community-owned node network to provide decentralized content on-demand using blockchain indexing technology and the IPFS protocol.
EthoFS is a decentralized website hosting platform that uses a node network to provide storage and bandwidth and DDoS security, censorship resistance, and reliability. The network’s data hosting revenue gets split between community-owned nodes, namely: Service Node (SN), Master Node (MN), and Gateway Node (GN).

Value Model

As highlighted in tits White Paper the main problems Etho tries to address: 

  • Free-speech and anti-censorship are the cornerstones of any democracy but with the rise of de-platforming and online censorship, media platforms our society relies on are becoming more and more unreliable for the average user. 
  • Free-flowing information and ideas are almost always catalysts for the next stages of societal evolution as well as exponential technological growth
  • Online censorship today ranges from something as small as a single blocked tweet all the way up to a full corporate website being banned if the messaging doesn’t fit an individual platform’s definition of proper.

And according to the Eho project, the solution is found by: 

  • Decentralize content & storage hosting, so no single entity has control over what is appropriate. 
  • Utilize community and user consensus to moderate this decentrally stored content. 
  • Create and maintain A closed-loop economy around steps one and two to encourage participation, reward contribution and network utilization.

The creation of EthoFS demonstrates the Etho team’s commitment to adoption and usability. Anyone can use and navigate EthoFS thanks to its simple, intuitive dashboard. In addition, the Etho team released specific instructions about how to work if clients ever get lost.

When it comes to selecting a hosting service, fees are undoubtedly one of the most important considerations. The EthoFS price is currently at 1 Etho/MB/Week. This fee is much more reasonable than many centralized providers. Furthermore, as EthoFS grows, the cost is expected to decrease.

Decentralization

The sophistication and resources needed to attack a decentralized website are significantly increased by decentralized content delivery. Since content gets distributed across the network, attackers cannot target a single location, considerably adding security advantages.

Censorship

Censorship-free content is the product of decentralized content distribution. You cannot censor content distributed by decentralized methods as it is under no control by any government or organization. This ban on censorship enables clients to publish content that other entities could redact.

Blockchain Model

Etho Mining

Being an Ethereum fork, Ether-1 uses Ethash, a proof-of-work algorithm — known as the most decentralized consensus method.

As miners flocked to Ether-1 on its launch day, the network encountered multiple chain forks. As a result, the Etho team decided to delay the launch. At the same time, they worked out the kinks, giving way to a smoother, more fruitful second launch as the development team made sure to communicate effectively and address the problems quickly during the turmoil that ensued.

Mining has been running smoothly since Ether-1’s relaunch. Moreover, block rewards began at 13 Etho, with 10 Etho going to miners, 2 Etho going to nodes, and 1 Etho going to the treasury. Ether-1’s use of a treasury fund ensures that further developments are still available, making it a long-term, sustainable project. Currently, block rewards are 5.6 Etho per block.

Kronos Fork

A fork, in essence, allows network improvements to take place if the miners agree. Forks bring on several extensive network enhancements. For Ether-1, the Kronos fork, which was recently overwhelmingly voted on by the community, was held last December 24th, 2019.

The Kronos fork brought about three significant upgrades:

For starters, the Kronos fork allowed node revenue sharing. As a result, participants in EthoFS testing will get rewarded.

Second, since Ether-1 is its chain, Ethereum network updates are not immediately enforced, even though it is an Ethereum fork. Instead, Kronos will make use of Ethereum’s most recent chain updates. As a result, network sync times will reduce, strengthening protections.

Finally, Kronos can do some administrative tasks. For testing and development, the Etho team maintains its network of nodes, merged into a single main cluster by the Kronos fork, thereby eliminating costs.

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Published by

Gennaro Cuofano

Gennaro is the creator of FourWeekMBA which reached over a million business students, executives, and aspiring entrepreneurs in 2020 alone | He is also Head of Business Development for a high-tech startup, which he helped grow at double-digit rate | Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy | Visit The FourWeekMBA BizSchool | Or Get The FourWeekMBA Flagship Book "100+ Business Models"