27 Jan '14, 10am

We the Internet: Bitcoin developers seed idea for Bitcloud

We the Internet: Bitcoin developers seed idea for Bitcloud

The system's currency would be called "cloudcoins." These, they said, would be much like bitcoins as the currency of the Bitcoin protocol. "You need bitcoins to use the Bitcoin payment system, and you need cloudcoins to use Bitcloud in certain ways," they said. "For example, someone who wants to advertise on a public video that is streamed from a Bitcloud node will have to pay for that advertisement in cloudcoins. Another example would be someone who wants to pay for personal cloud storage on the Bitcloud network. By monetizing the system, nodes can get paid for their willingness to share bandwidth, provide cloud storage, and allow for direct streaming to stored content. Adding the profit motive to the equation gives this project a chance to succeed where many others have failed in the past." They said donations can only take you so far in trying to create something of thi...

Full article: http://phys.org/news/2014-01-internet-bitcoin-seed-idea-b...

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