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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 check for what Solana builders are thinking about for the time being, 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 instances, it could get costly to retailer knowledge on Solana. Solana co-founder Anatoly Yakovenko and others have talked about this downside 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 established order.
This system principally 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 information archive. This all nonetheless depends on Solana’s proof-of-stake mechanism for safety.
This sounds harking back to the primary Colosseum hackathon winner in ORE, which was a viral proof-of-work recreation constructed on Solana that had miners remedy puzzles each minute.
