International Joint Conference On Theoretical Computer Science – Frontier of Algorithmic Wisdom

August 15-19, 2022, City University of Hong Kong, Hong Kong

 

Invited Speakers

Track B


FileInsurer: A Scalable and Reliable Protocol for Decentralized File Storage in Blockchain

Hongyin Chen

Peking University

Abstract:
With the development of blockchain applications, the requirements for file storage in blockchain are increasing rapidly. Many protocols, including Filecoin, Arweave, and Sia, have been proposed to provide scalable decentralized file storage for blockchain applications. However, the reliability is not well promised by existing protocols. Inspired by the idea of insurance, we innovatively propose a decentralized file storage protocol in blockchain, named as FileInsurer, to achieve both scalability and reliability. While ensuring scalability by distributed storage, FileInsurer guarantees reliability by enhancing robustness and fully compensating for the file loss. Specifically, under mild conditions, we prove that no more than 0.1\% value of all files should be compensated even if half of the storage collapses. Therefore, only a relatively small deposit needs to be pledged by storage providers to cover the potential file loss. Because of lower burdens of deposit, storage providers have more incentives to participate in the storage network. FileInsurer can run in the top layer of the InterPlanetary File System (IPFS), and thus it can be directly applied in Web 3.0, Non-Fungible Tokens, and Metaverse.

Bio:
Hongyin Chen received the B.S. degree at School of EECS, Peking University in 2020. He is currently pursuing the doctor’s degree at Center on Frontiers of Computing Studies, Peking University. His current research interests include Blockchain and Mechanism Design.