How can you make sure that your memories and private data are transmitted reliably to the future? Security, durability, respect for integrity: these are all essential components for ensuring the transmission of data. However, the process is often complex , in particular in the event of death. The various steps are not only long and tedious but also expensive. Based on this observation, the French startup Capsule Corp. has had the idea to create Ternoa.
Ternoa to Redefine Data Transmission
Designed to securely store and transmit data, Ternoa uses the blockchain and all the benefits it brings to redefine data transmission.
To achieve this, Ternoa allows its users to create time capsules whose opening and reception procedures are decided by their creators.
Entirely open source and decentralized, the Ternoa blockchain is based on Polkadot, a protocol focusing on interoperability by linking several specialized blockchains into a single unified network. This interoperability is the key to Ternoa’s success, helping it to communicate with other blockchains specializing in certain data protocols.
“The Ternoa blockchain redirects files stored in time capsules to blockchains whose decentralized file storage is the main mission such as Arweave, Sia or Storj, while keeping a copy of the file on its own network”, says the team.
Ternoa will also use Chainlink’s oracles, which ensure that certain conditions are met in managing the issuance and delivery of a capsule.
The Ternoa blockchain has its own token, called the CAPS. This token will play many roles in Ternoa’s ecosystem, including the creation of the capsules, the financing of the decentralized storage of the capsule over time, and its encryption.
It should be noted that the Ternoa network uses the Nominated-Proof-Of-Stake (NPos) consensus, and therefore has validators and nominators to ensure its integrity. The latter are remunerated in the form of CAPS tokens.
How Do Ternoa’s Time Capsules Work?
Ternoa time capsules are non-fungible tokens, more commonly known as NFTs. These unique and identifiable tokens come with a wide range of use cases.
The creation of a time capsule is therefore associated with the generation of several encryption keys, dispersed between the different masternodes of the Ternoa blockchain. To open a time capsule, it is therefore necessary to bring together these same keys.
Regarding the issuance of a capsule, the user will be able to pay the costs either with fiat currencies (euro, dollar) or with CAPS tokens. With Ternoa aiming for large-scale adoption, the team wants the process to be as transparent as possible for the user.
Thus, in the event of payment with euros, the latter will be converted into CAPS in the background. The process will remain invisible to the user, even if of course the Ternoa blockchain is requested for the issuance of the capsule.
Ternoa will deploy the first version of its NFT market based on the SubstraPunk project during the year 2021. Built on the Polkadot network, this NFT ecosystem will allow creators to offer and sell NFTs compatible with Ternoa.
A Series of 5 Transmission Protocols
For its capsules, the Ternoa team has developed five data transmission protocols, each with its own characteristics guided by a smart contract. Thus, it is possible to transmit capsules for specific use cases.
1 – The Safe Protocol
Using this smart contract, it is possible to store data in a decentralized manner through the Ternoa blockchain, and to consult and retrieve it at any time. This is a classic form of storage, combining the security and transparency inherent in Ternoa.
2 – The D-Day Protocol
This smart contract allows you to set the exact date for sending a capsule to a given recipient. The capsule therefore acts as a kind of digital safe, which can only be opened on a specific date.
3 – The Consent Protocol
By using this smart contract, the recipients have the right to request access to the time capsule after a given period and provided that the owner does not use their right of veto. If the creator does not oppose the sending of the capsule for a period that they have personally defined, the smart contract judges that the creator consents to the issuance of the capsule.
4 – The Death Protocol
With this smart contract, the time capsule is issued upon the death of its creator. To operate under the best conditions, this protocol is based on the programming interfaces (API) of local death registers. Initially, this protocol will only be available in certain eligible countries.
5 – The Countdown Protocol
As its name suggests, this smart contract allows you to activate a countdown before sending a capsule. When this ends, the capsule is immediately issued. If desired, the creator of the capsule can restart the countdown from the start, as many times as necessary.
Supported by a French team, the Ternoa blockchain and its time capsules provide a new use case for non-fungible tokens. As well as facilitating the transmission of private data, Ternoa relies on maximum security, while making the use of its solutions as ergonomic as possible.
In addition, its ingenious use of Polkadot provides Ternoa with the most complete interoperability, an essential component nowadays in growing a potential user base.
The wide variety of available methods for sending time capsules allows Ternoa to multiply its use cases. Each user can find their account, whether it is for the simple transfer of data or the transmission of an inheritance.
Moreover, the Ternoa team is currently working on a smartphone app entirely dedicated to its ecosystem. This will allow you to send capsules and manage CAPS tokens.
This is a translation of the French article written by Clément Wardzal.
This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.