BitCloud

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Description

by NICHOLAS TUFNELL:

"What Bitcloud is proposing is a Tor-like anonymous internet made up of numerous nodes that carry encrypted data; unlike Tor, nodes will use any incoming traffic to mine for cloudcoins, the Bitcloud cryptocurrency. This gives those using the anonymous network an incentive to contribute to the infrastructure, because not only do more nodes mean a faster browsing experience, but there is the promise of capital from simply contributing to the system.

The same concept applies for hosted content. Any content hosted on a server needs to pay a sort of "toll charge" any time data is transferred from the server to the node. However, the more hits a website receives, the richer the server becomes, allowing for a sort of perpetual growth and a system in which, theoretically, everyone earns money from everyone else.

It is this idea of incentive that is so crucial, and unique, to Bitcloud." (http://www.wired.co.uk/news/archive/2014-01/27/bitcloud)


Status

by NICHOLAS TUFNELL:

"Taaki explains that there are a lot of fundamental similarities between Bitcloud's proposals and Twister, but that Twister is already seven months in development, operational and run by a trusted developer. Bitcloud, he says, is more of a fancy version of PayFile, but it is nonetheless part of "a greater effort" that's probably worthy of our attention.

The existence of other similar -- and functioning -- ideas (Twister, MediaGoblin) means we probably shouldn't dismiss this as vapourware just yet. A fast, anonymous, and decentralised internet that's not at the whim of arbitrary ISP enforced regulations (whilst also having its own self-perpetuating currency) sounds a bit too good to be true, but not impossible." (http://www.wired.co.uk/news/archive/2014-01/27/bitcloud)