The Oyster team has announced today that the Oyster Mainnet is now live which means users can now host their files using the Oyster Mainnet.
One quick note about this release: this is a beta release, very basic, very bare-bone with a main purpose to demonstrate that the whitepaper’s use case actually works.
Oyster works as a decentralized storage platform where an uploaded file is being broken into chunks and each chunk is encrypted – this phase takes a long time right now, but the team behind PRL is working on increasing the overall upload and download times. Once the file has been broken up and each piece encrypted, the actual upload is near instant. Download’s are near instant as well.
The mainnet is in open beta and needs more polishing, the speeds of uploading are slow right now. Keep in mind that this is only the nascent phase of this technology. PRL have managed to improve the speed and size by a lot every update they published. For example the speed has increased 5x compared to last time.
You can also expect UI to be more user friendly in the future, uploading should be similiar to uploading to dropbox/drive: you could simply drag and drop the files you want to upload.
The IOTA tangle, that is the underlying tech for Oyster, has some growing to do before Oyster storage becomes really viable, sharding and swarm intellegence is needed.
Right now it is really undervalued, but the question is: will they make their product better or not?
Two things are holding the price back:
- IOTA still needs to grow and since PRL depends heavily upon it we need IOTA to keep growing
- dont expect much price action until BTC goes up in price and the whole market recovers along with it
The idea, the working beta mainnet, great developer team and the community are all amazing and this coin should definitely be on your shortlist.
