This article takes you to learn about Swarm (BZZ)! Swarm’s popularity soared all the way. It’s a thousand times coin project that you can’t miss this year! As the swarm test network enters the final stage, swarm’s popularity has reached the highest point so far.
1、 What is swarm?
Since March, with the launch of the swarm 1 million BZZ airdrop program, more and more people have paid attention to this project. Although the swarm main network has not been officially launched, the test network has more than 30000 nodes.
Swarm’s concept of implementing distributed data storage was put forward as early as early as 2015. Promoted by Ethereum founders vitalik buterin, Gavin wood and Jeffrey wilcke, swarm’s protocol labels BZZ and Shh were created by vitalik. Therefore, swarm can be said to be an official part of the Ethereum project, which is mainly developed by the Ethereum foundation. It allows mining pool storage, bandwidth and computing resources to support applications based on Ethereum network.
The team tried to create a point-to-point storage and service solution with non downtime, zero failure and anti censorship, and create an economically incentive system within swarm to promote the exchange of resource value. Coffee aacd314 learn more
Swarm is a member of the original ecology of Ethereum and provides a more friendly development method. Ethereum developers can complete the decentralized storage of data through swarm instead of directly relying on external ecology such as IPFs and filecoin.
A strong point-to-point content storage and extraction system needs to carefully balance the needs of service providers and consumers. Swarm network has the unique ability to meet these needs. It will meet these needs through micro payment and smart contract implementation incentive mechanism.
2、 Swarm Team Introduction and investment organization
Swarm’s core team consists of 32 employees and has established swarm Association in Switzerland. In addition to the financial support of Ethereum foundation, swarm has also reached cooperation with bitcoin Suisse and obtained sufficient funds. After having its own source of funds, swarm has independently reorganized the team several times, and finally has eight well-organized sub teams: Leet square, bee team, bee JS team, comms, HR Devops, OPS and knowledge management.
According to the disclosure on the official website, swarm has completed a private financing of US $6 million and plans to release version 1.0 of Ethereum based decentralized storage protocol in Q2.
Institutions that have participated in the investment include: alpha capital, bitscale capital, DFG, Kr1, hashkey, NGC venture, get capital, P2P capital, waterdrive capital, white paper capital and YBB Foundation Ltd. Coffee aacd314 learn more
3、 What are the features of swarm?
Swarm provides content distribution services for Ethereum and DAPP, with the following functions:
1. Swarm is a decentralized storage platform that provides local basic layer services of Ethereum Web3 stack.
2. Swarm aims to replace the Ethereum on chain storage solution and become a decentralized storage platform for Ethereum public records.
3. Swarm can help DAPP store and distribute code, data and content without interfering with the information on the blockchain.
4、 Swarm project development history
Since 2015, swarm has been developing according to the earlier plan. In 2020, the project has created a new swarm network, while the old network still exists. During this period, four bee versions were developed, and the bee node became more stable and modular, making preparations for the swarm 1.0 main network line and later versions:
June 2020 – swarm alpha version
This version lays a solid foundation and bee client basic protocol.
August 2020 – swarm Summer Edition
New features have been added and errors in the alpha version have been resolved.
September 2020 – swarm beta
With this release, new features are enabled for DAPP developers.
November 2020 – swarm live version
Enhanced stability and improved performance. All the advanced features of swarm 1.0 have been implemented and released with the live version.
January 2021 – present
Two new versions have been released – the new version of swarm bee and the alpha version of bee JS library.
5、 Swarm’s reward mechanism and node construction
In the context of swarm, storage and bandwidth are the two most important limited resources, which are reflected in its incentive plan. The motivation to use bandwidth is to achieve fast and reliable data delivery. The storage motivation is to ensure long-term preservation of data. This ensures that all requirements for web application development are met and that incentives are consistent so that the operation of each individual node benefits not only itself, but also the entire network.
1. Bandwidth incentives – build trust to exchange bandwidth
Swarm uses bandwidth incentives to facilitate data upload and download. Bee nodes communicate with each other to facilitate private and secure upload of content, and they maintain a fraction of consumed and received bandwidth.
2. Discovery incentives – opportunities, no cost
These incentives are indirect. This is because having a well connected swarm network is in the interest of each node. For example, when new bee nodes appear, they connect to existing bee nodes. The number of connections on the bee node is expressed in the form of “connection level”. When the node connects to another node, it also conveys its connection level, and then another (older) node can establish a new connection for it to improve the connection level of the new node. Coffee aacd314 learn more
3. Warehousing incentives – swarm is an unlicensed gatekeeper to ensure fair compensation to wareholders
Swarm’s storage space is limited by the sum of the storage contributions of all individual nodes to the network. The stamp system increases costs by uploading costs to the network, thereby allocating the right to write to swarm in the best way. Using this signal, the storage node can decide what content to retain and what content to ignore, so as to allocate storage space in a way of preserving the most valuable blocks.
6、 BZZ pass and airdrop of swarm
① Token information
Sponsor: Ethereum Foundation
Founder: vitalik buterin
Total issued: 62.5 million
Online time of main network: the second quarter of 2021 (around June)
② Token economic model
BZZ token is the functionality token of swarm. It is also used for bandwidth and storage rewards.
Initial supply: 62.5 million pieces
③ Token allocation
Fund raising: 50%
④ What happened to the airdrop of 1 million BZZ?
On February 15, 2021, swarm announced that it would air drop 1 million BZZ tokens to the addresses that have run bee nodes on the test network, in order to reward early users and stress test the network. However, it was not until recently that swarm mining exploded, probably because it was about to go online in the “first half of the year” as mentioned in the plan. Officials called the airdrop “the rise of the queen bee”.
Total airdrop of test network: 1 million bzzs. Coffee aacd314 learn more
Time: from February 14, 2021, before the main network goes online (expected in the second quarter of this year).