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The blockchain is a powerful tool that allows a systems to achieve digital consensus among a distributed and decentralized network. It has been primarily used in digital currencies, such as Bitcoin, as a transaction ledger to keep track of the balances of millions of users.
Metadisk approaches the use of the blockchain in a different way. We introduce the idea of a metachain or a blockchain that allows over 1kb of metadata in a transaction. This is not meant to store standard files like a picture or a movie, but perhaps descriptor of where that data is and what should be done with that data.
Because the blockchain is distributed and decentralized, we can build applications that inherit these properties. This is especially important when dealing with data, where one doesn't want points of centralization and failure.
Storj is working on building and releasing its own metachain, but primarily using Datacoin as a proof of concept.
For nodes and software to be able to work together we need some common framework. A meta template provides a common guide for transactions in the Storj network to follow.
Allows a user to keep track of some of their public files without ever having to register for any type of centralized account.
Allows a user to keep track of some of their private files without ever having to register for any type of centralized account. Metadata is also encrypted, so that only they key holder may be able to get any information about the files stored at a particular address.
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