Our flagship product, SILO, is a device that is not only a digital display for presenting users’ NFT collections, but also serves as a storage node in our private IPFS SILO Network. We issue SILO Coin to incentivize users to provide secure storage for NFT metadata in the network. The network emphasizes privacy, encryption, and immutability, ensuring the security of valuable metadata.
The metadata for high end art needs to be private and secure. Rather than hosting the source files on any centralized storage or public chain, Authentik is storing all of the associated metadata on SILO hardware. Leveraging the existing IPFS architecture, SILO Network is a private IPFS network with four differentiating features.
As a Private IPFS network, SILO network gains full protection from public monitoring. All of the source files will be only accessible by internal nodes with verifiable SILO device identification.
Most NFT metadata consists of picture, video or audio files. SILO implements tailored lossless compression algorithms targeting these files to reduce the storage footprint.
SILO Network will implement both transport encryption and content encryption for additional security. Only the owner of NFT will have the private key to decrypt the NFT source file.
SILO Network employs erasure-coding algorithm with 17+3 configuration. Each file will be split into 17 segments and then add 3 parity segments before uploading to the network. It can support up to three simultaneous disk failures, at the cost of parity overhead less than 18%.
Securing Source Files
SILO Network gives copyright holders the option to make NFT transactions without the need to expose source files onto any public network. The metadata is stored locally in the SILO device, which acts as a storage node, while the proof of authenticity is stored and validated on the chain.
Each SILO has a unique device ID that will be used for proof. When the proof of that device number matches the NFT ID, the SILO Network then publishes that proof on chain, where it is then verified by a smart contract. The transaction data and corresponding SILO metadata changes are refreshed on the public blockchains after each transaction.
A MINING DEVICE IN YOUR LIVING ROOM
Rewarding SILO Owners
SILO Network rewards miners for providing storage. A proof mechanism is needed to ensure no malicious node is taking advantage of the network. SILO Network employs both Proof of Replication and Proof of Spacetime to verify storage provided by miners is valid at the time of challenge and also over a period of time.