Deer Network: The Game-Changer In The Metaverse Competition

As the metaverse continues to be a hot topic for discussion for many, there is also increased competition for public chains’ underlying technology. From the recent analysis on some hot public chains, we know that the nature of the metaverse that is built on the blockchain must be decentralized. Hence the nature of the metaverse infrastructure public chains will also be decentralized. However, there are many problems associated with decentralized storage, such as slow file storage efficiency, high cost, low safety factor, low reliability, etc. As such, these problems restricted the performance of public chains.

To discuss and address such problems, it is necessary to find a more generalized public chain to refer to as an example. After analyzing many public chains, this article will use Deer Network as a case study for discussion. Now, let’s take a look at how the Deer Network performs in the above-mentioned issues.

Deer Network creates a globally shared metaverse infrastructure public chain with self-repair capabilities by connecting scattered storage and computing resources.

Core Functions

The core function of Deer Network is decentralized storage, storage nodes are responsible for providing storage resources, and they are not required to produce blocks. In order to host TEE and storage resources, they require miners in the PoW chains. They need to access the ‘mining client’ to provide storage resources to the network and obtain storage revenue. Storage nodes can also earn profits by selling storage resources in the storage trading market. Storage nodes require to stake a certain number of DEER tokens to ensure the stability of storage resources, and it also acts as a guarantee of them willing to bear risks and forfeits. Through the PoW mechanism, the more storage resources a node contributes, the higher the profit he can earn. A storage node can become a validator node simultaneously by linking accounts, installing authenticator clients, and ensuring a sufficient number of staked DEER tokens.

There are 3 types of profits that storage nodes could earn:

The first type is direct income earned from storage orders. Storing meaningful files can improve the availability and service capabilities of the network.

The second type is shared income earned from storage orders. The funds in the shared funding pool are allocated to storage nodes based on their efficiency in storage.

The third type is disk computing power mining. TEE is an indicator for computational performance, the value of computational performance is equal to the disk space available for the TEE.

Users

Users here refer to consumers who use Deer Network’s network resources, primarily a user who uses storage and computing resources. DEER tokens or other tokens supported by Deer Network are used to purchase resource services.

Storage Market

The storage market of the Deer Network aims to provide high-quality storage services for applications and platforms built on the Deer Network. The storage market is a decentralized marketplace that allows users to request storage of data and provide storage space to sellers. Storage services mainly include storage sorting mechanisms and retrieval mechanisms.

Pricing Mechanism

In Deer Network, storage node orders are made public, and anyone can see them. Since everyone knows what is the lowest price, consumers can make informed decisions about their orders. However, storage orders must be submitted to the whole network. In this case, users can keep a copy of their orders. After creating an order, the network will calculate the price that users need to pay based on the current state of storage supply and demand.

To sum it up, in the Deer Network, the minimum storage period of 3 days will guarantee the flexibility of storage. Reliability is greatly secured as each storage order is linked to one funding pool, and existing files can continue to be stored in the network’s storage. Furthermore, as users can save on the fees for storing unexpired files permanently in the network, this proved that low-cost storage can provide more value and benefits to users.

Many big companies and unicorn enterprises are channelling their energy and resources in the metaverse space. In the race with these strong competitors, the metaverse itself is also an object of competition. The metaverse infrastructure public chains is just one of the many race tracks. Whether Deer Network can withstand the test of time, we will continue to observe, and let’s wait and see.

Article Source: Moran

Original Article Source: Deer Network，元宇宙角逐中的赛道构建者 (qq.com)