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1/ This thread compares @storecoin with @blockstack. The request for this comparison came from here —
2/ The comparison is based on the following resources on @blockstack -- a) their website — blockstack.org, b) their white paper — blockstack.org/whitepaper.pdf, and c) Gaia storage system —github.com/blockstack/gaia.
3/ Similarities:
3.a/ Both address the need for a "Decentralized computing network and app ecosystem".
3.b/ Both propose a "privacy-first" design.
3.c/ Both address real world apps, not just smart contract-based dApps, for developing secure, privacy-focused apps.
3.a/ Both address the need for a "Decentralized computing network and app ecosystem".
3.b/ Both propose a "privacy-first" design.
3.c/ Both address real world apps, not just smart contract-based dApps, for developing secure, privacy-focused apps.
4/ On differences, let's start with the "privacy-first" design. In Blockstack, a user gets an universal ID and a "data locker" to securely store their data. All the data they create is theirs. We can call this model as "bring your own storage" (BYOS) model.
5/ In Storecoin, users have app-specific IDs as desired by respective apps; there is no universal ID across the network. For the same reason, there is no user-specific data locker. Sensitive information is stored encrypted on Storecoin's decentralized storage network.
6/ Blockstack's Gaia storage system allows users to run/select their own Gaia hubs or storage backends, because of the BYOS model. Users download the apps and plug-in their "private data lockers".
7/ In Storecoin, the Messagenodes (a.k.a "storage engines") provide the storage for users of all apps. Storecoin miners in their "Cloud Markets" are responsible for finding cheapest options to store user data. Apps are zero-fee for users, so they never pay or rent any resources.
8/ In Blockstack, user data is encrypted in the client using user's keys and stored in user's own private data locker. In Storecoin, any sensitive information is automatically categorized and stored encrypted on Messagenodes.
9/ The encryption on Storecoin varies from app to app. User data can be encrypted purely with user's keys (as in Blockstack) or a combination of user's and app's keys ("M of N secret sharing"). In Storecoin, privacy is a "spectrum" allowing different use cases to exist.
10/ In Storecoin, all access to sensitive information goes through a customizable, context-sensitive, anonymization engine. So, data breaches (because of encryption) and leaks (because of anonymization) cannot happen.
11/ In Blockstack, users must give explicit permission to apps to use their data. This ensures strong privacy as long as users don't share their data. It is not clear what happens to the user data once they grant access.
12/ Because privacy is a spectrum, Storecoin must ensure transparency for all data accesses. It does so by recording all accesses to user data on the Storecoin blockchain. Even though user data is anonymized before allowing access, the access is still recorded.
13/ The primary design philosophy of Blockstack is to "protect user's digital rights". The primary focus of Storecoin is to allow "data trading" while preserving data privacy and security.
14/ In Blockstack, best apps get paid by the network (app.co/mining). The core premise of Storecoin is that data can become an open and programmable cryptocurrency. Apps on Storecoin emit data-backed tokens called "datacoins".
15/ These datacoins are the foundation for a truly open computing platform where developers, governments, miners, and end users can all get paid when data is traded with datacoins. Revenue in datacoins is the underlying incentive model with Storecoin.
16/ We didn't find any information on how/if data is tradable on Blockstack. Storecoin is designed to trade valuable data with datacoins, while preserving data privacy and security.
17/ Storecoin creates an ecosystem where data creators (users), data curators (app developers), and data storage providers (Storecoin miners) all benefit from trading data without sacrificing user's privacy or data security.
18/ On consensus, Blockstack uses Proof-of-Burn based leader election process to manage the blockchain. Storecoin's BlockfinBFT (research.storecoin.com/BlockfinBFT) consensus algorithm is leaderless. All nodes participate in the consensus process for equitable block rewards.
19/ Blockstack supports a smart contract language called Clarity, which is a LISP variant, interpreted language. In Storecoin, smart contracts are used selectively for revenue sharing contracts between developers, miners, and users and to manage access to data with data buyers.
20/ Storecoin exposes smart contracts as signed JSON objects, which are interpreted by the protocol at runtime to execute the contracts.
21/ There are other differences in the network architecture and other areas, but they can be characterized mostly as implementation details for efficiency and scalability. Each project achieves these goals differently.
22/ Storecoin believes that ad-supported/data-trading economy is here to stay, so enables it with a "privacy-first" design that automatically encrypts any sensitive information and anonymizes it upon request. This preserves data privacy and security even when data is traded.
23/ Storecoin's privacy and de-identification spec is available at storecoin.com/cloud/privacy-…. The spec discusses design motivations and real world use cases borrowed from referenced publications.
24/ Here's a previous comparison of practical security implications of Algorand's BFT consensus algorithm with @storecoin's BlockfinBFT consensus algorithm. news.storecoin.com/blog/storecoin…
