Full disclosure, I own about 880 PRL as of writing.
In the online world advertisements on websites have always been a bad proposition for the viewers. The idea that basically high traffic websites cannot make revenue without employing intrusive advertisements and popups. This coupled with the problem of ad-blockers and users’ disregard for most ads. This leaves the end user in a place where any site that continues to exist on the internet will have more and more adds as traffic and hosting costs increase. While at the same time there is no digital storage for online services that is both confidential and easy to access. As your own local storage lacks security but possesses privacy and cloud storage retains security but not privacy. Oyster Pearl (PRL) presents a revolutionary solution to both these fundamental problems.
Oyster Pearl is the blockchain alternative to advertisements and storage in the digital world. This is accomplished by using a very small amount of the user’s CPU power while they are browsing the site instead of viewing an ad. To understand the purpose of the CPU power you must look at the duality of Oyster Pearl. The Oyster Pearl data map is built on top of the IOTA Tangle, this allows the proper storage of files using PRL. The Tangle being a block-less digital currency as it doesn’t need a blockchain to execute transactions and secure transfers. The importance of this being that the IOTA Tangle has scalability and a large network to distribute Oyster Pearl system. Which are valuable traits for a private, decentralized, alternative advertisement and storage coin like PRL.
Data Storage using the Tangle
The way PRL works with IOTA (Tangle) for data storage is by having a user pay Oyster Pearls to upload a file. Essentially you would do this by buying Oyster Pearl coins then paying a fee to upload, for example you would pay 2 Oyster Pearls to upload your files. Then the Oyster pearls would be payed out to the broker nodes, which in turn split the file and encrypt it in your local browser. The contract is then shared by the broker nodes through the Distributed Reputation System. This allows for the secure storage of the Oyster Handle so that you can retrieve your file properly back from the Tangle it’s stored on. Ultimately by uploading your files this way it grants you both security and privacy for your data. While also allowing easy download and upload of your files at any time.
Alternative to Advertisements
Now for how PRL changes web advertising, Oyster Pearl achieves this by allowing the website owner to use CPU power of the visitors to the site instead of advertisements. The CPU power is then used to empower Oyster web nodes to execute a proof of work search to find Pearls embedded on the Tangle. By doing this we accomplish both file storage and revenue for the website. This is because when the Oyster web nodes search for the Pearls the action also adds the files the users uploaded. This way the storage and upload of files on the entire network is incentivized. This in turn drives the entire engine of the Oyster Pearl network. So overall this is a much more effective method for the website owner to generate revenue.
Oyster Pearl Future
All in all the value and potential of this coin are very high. The fundamental change it represents if it is successfully adopted could be huge, not only economically but also structurally. As it would change the way websites and online services host and monetize content. As of now the first testnet for the Oyster Pearl network is set to go live by the end of January. This will be a big step towards implementation of the Oyster Pearl network; it will allow for the upload of files to the tangle and the ability to set up hooknodes so that you can get paid in PRL for being part of the network. The second testnet which will allow Oyster to be run on your website so you can get paid in PRLs for visitors to your site, this will launch by end of February/ beginning of March. The future both long-term and short- term is very bright when all is said and done for this coin.