hackyguru
commented
1 year ago @ErinOCon @realChainLife The above proposal is a follow up of this open grant application. We're ideally eyeing to launch the product by ETHIndia :)
Closed hackyguru closed 1 year ago
hackyguru
commented
1 year ago @ErinOCon @realChainLife The above proposal is a follow up of this open grant application. We're ideally eyeing to launch the product by ETHIndia :)
ErinOCon
commented
1 year ago Hi @hackyguru, thank you for the follow up proposal. We will not be awarding this grant at this time, but are glad to see you are participating in an accelerator program. Wishing you all the best!
Open Grant Proposal:
Third StorageName of Project: Third Storage
Proposal Category:
devtools-libraries,integration-adoptionProposer:
hackyguruDo you agree to open source all work you do on behalf of this RFP and dual-license under MIT, APACHE2, or GPL licenses?: Yes
Project Description
Most of the self-proclaimed web3 applications use centralized databases behind the hood and nullify the whole concept of decentralization by putting the privacy and security of user's data at risk. Confidential user data such as passwords, emails, KYCs and other critical information are often stored without encryption and are vulnerable to data breaches. Further, the developers can also access the private data of their users since the whole data is custodial to the developer without access control limitations.
The biggest problem with the currently used web3 data storage solutions is that they lack composability, performance and scalability. Additionally, developers have a steep learning curve to get started with web3 data storage mechanisms and will have to spend a lot of time in setting up their development environment and storage nodes. The only positives of web2 databases is that they are easily scalable and can be used by web2 developers without any prerequisite knowledge about web3 jargons. But, web2 databases can not be ideal in a decentralized and privacy-preserving web. Migrating between two web3 databases can consume immense amount of time and the lack of data composability can sometimes make it an impossible task to automate. Developers are required to setup their own nodes on different geographical locations to boost their data-availability, performance, Geo-redundancy and decentralization. Further, all these nodes are 'stand alone' and developers will have to manually sync in all the nodes. The whole web requires a new generation standard to build and use data storage. The new standard should value the privacy and self-soverignity of data more than any other aspect. Developers will have to spend hundreds of hours just to create an infrastructure that can meet all their production requirements.
In most of the cases, web3 data storage options are not 'batteries ready'. This demotivates the developers to take up web3 options and finally the end up using low-code web2 alternatives that seem to do the job but compromise the data privacy that web3 offers.
Value
Developers usually face the following problems in web2 and web3 databases repectively,
Third Storage solves all the above highlighted problems by providing mutant databases that leverage the pros from both web2 and web3 databases in the following ways :
Data soverignity : All the user data is self soverign and hosted on Filecoin. The data can not be tampered by external sources. The user has the governing power over his data whereas web2 data governance is external.
Access control : Decentralized access control is faciliated by using cryptography and lit protocol. Third Storage divides the user data into public and private based on the preference of user and developer.
Scalablity : Third Storage can be scaled horizontally and vertically based on the preference of the developer. The infrastructure can be deployed into distributed and geo-redundant infra with minimal costs.
Speed and perfomance : Third Storage does not compromise speed and perfomance in the name of 'decentralization'. We use caching mechanisms to make sure data retrival and writing is as fast as possible.
Costs : A big misconception about web3 is 'Storage is very expensive'. But surprisingly, storage on Filecoin and other web3 native solutions are cheaper than centralized web2 solutions. Third Storage also facilitates 'perpetual file storage'.
Data composability
Data composability is one of the crucial elements that was missing in web2. For example, if you hosted a file in AWS - it is not possible for content addressing it on another storage provider.
Revolutionary technologies like IPFS can enable content addressing and data composability in web3. Third Storage leverages this capability to enable data composability between different storage paradigms. For example, if you wish to migrate from one storage paradigm to another in the future, you can do it without much hassle.
Decentralized hosting
You can seamlessly host your dapps on web3 native hosting options with Third Storage. Decentralized hosting only available in Third Storage Cloud. We provide multiple cloud deployment options which include :
Multi-node scaling
With multi-node scaling you can boost data redundancy, data availability, vertical and horizontal scaling and level of decentralization. Multi-node scaling is only available for Third Storage Cloud users.
Deliverables
We will be launching Third Storage Localhost as the core deliverable of this open grant. More information about Third Storage Localhost can be found here
Development Roadmap
Q4 2022 :
October :
November:
December :
Q1 2023 :
The product roadmap and timelines can be found on Third Storage website
Total Budget Requested
Total budget requested : 180,000 USDC
Maintenance and Upgrade Plans
We are looking to continue this project and fundraise from VCs and angels by this quarter to support further growth. We are expecting to hire a team to take care of the development cycle.
Team
Team Members
Point of contact :
Kumaraguru T - Founder of Third Storage LinkedIn | Email
Team Website
Website : https://thirdstorage.com Docs : https://docs.thirdstorage.com Github : https://github.com/hackyguru Discord : https://discord.thirdstorage.com Brand : https://thirdstorage.com/brand
Relevant Experience
Our team successfully completed all the milestones in the previous iteration of this project. More details can be found here
Team code repositories
Github Organization : https://github.com/thirdstorage Developer documentation : https://docs.thirdstorage.com
Additional Information
We are expecting to complete our seed round by Q4 2022. We already completed a successful iteration of this project previously and are looking for more funds to scale up.