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TAPEDRIVE received the grand prize within the newest Colosseum hackathon, a preferred hackathon-cum-venture accelerator began by unique Solana Labs hackathon organizers.
The competition, which I are inclined to view as a partial litmus take a look at for what Solana builders are enthusiastic about in the intervening time, had a lot of stablecoin entries, one organizer instructed me. However the grand prize winner took at a stab at an issue inner to Solana: the price of storing knowledge onchain.
Solana is the busiest blockchain in existence as issues stand. With all of this onchain exercise paired with quick block occasions, it might probably get costly to retailer knowledge on Solana. Solana co-founder Anatoly Yakovenko and others have talked about this drawback of decreasing knowledge storage overhead on the community.
TAPEDRIVE claims to have the flexibility to learn or write knowledge (that’s, entry or add it to the chain) 1,400x cheaper than Solana’s establishment.
This system mainly bundles Solana knowledge and provides inexpensive cryptographic proofs to the blockchain. A community of miners is incentivized to retailer this knowledge utilizing the TAPE token. To earn these token rewards, TAPEDRIVE miners remedy knowledge storage challenges in parallel each minute to show that they maintain their assigned portion of the info archive. This all nonetheless depends on Solana’s proof-of-stake mechanism for safety.
This sounds paying homage to the primary Colosseum hackathon winner in ORE, which was a viral proof-of-work sport constructed on Solana that had miners remedy puzzles each minute.
