BitStream: Decentralized File Hosting Incentivized via Bitcoin Payments

“An atomic swap of coins for files would enable an open market for content hosting, in which anyone can monetize their excess bandwidth and data storage capacities, by serving decentralized multimedia services.””Verifiable encryption provides a theoretical solution, but the computational overhead is too expensive in practice.””We propose a solution to the fair exchange problem, which is highly efficient such that servers can handle large files and manage many clients simultanously.””Compatible payment methods include Lightning, Ecash, and every other system that supports hash-timelock contracts.””The server encrypts the file such that if there‚Äôs any mismatch during decryption the client can derive a compact fraud proof.””A bond contract guarantees the client receives the exact file or they can punish the server.”The transfer happens fully off-chain. An on-chain transaction is required only in case a server cheated.”Here’s a toy implementation of BitStream to play around with.

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