What the 3speak team achieved is kinda a big deal
Store to Earn is now a thing on Hive. While the 3speak network is still in testnet phase and mainnet could be expected to be rolled out in around 5-6 months, the network is already rewarding people that are storing videos on their hard drive with Hive. When mainnet is live users will receive SPK/Larynx tokens as a reward for the service of decentralizing video storage. This is called Proof of Access and there is currently a very straightforward way of providing it. On twitter there is a really quick guide for doing it and it just involves a couple of steps:
https://twitter.com/IAM__NONSO/status/1675545424524967936
- IAM__NONSO
This user also posted the rewards he is currently making which imo are actually pretty good since he is receiving Hive every couple of minutes! I don't think we know how much this person is actually storing on his hard drive, so that's something I still want to find out myself.
This is a first in Web3
The team themselves point out that this seems to be a first in the web3 space and solves a fundamental issue in the space: how to store (video) content in a decentralized way? The key for doing so is to incentivize the storing of data. Without it, the network generally becomes centralized and is therefore more prone to attack. The incentive to store content on local hard drives removes this point of failure and makes it near impossible to the attack the network as a whole.
We already know how this has worked for small amounts of (text) data on the Hive network. As such we can think of Hive as a huge decentralized data storage network, but it's previous limitation was it's storage capacity. Now with 3Speak we can store large amounts of data locally that is verified on a Layer 2 network that is built on a fast and decentralized base layer which is Hive.
Conclusion
I am really excited about these developments. I still remember almost 2 years ago when the team started the Larynx/SPK token airdrop and we now see the ideas come to fruition. The value of such a network itself is absolutely huge and if word gets around this should skyrocket the value of the Speak as well as Hive network itself. So try it yourself and spread the word!
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