John Letey: KYVE – Decentralised and Accessible Data Storage
Epicenter - Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies
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How Smart Contracts Work
So are we smart contracts is definitely something interesting to wrap around, right? And to be honest, I don't exactly call them smart contracts because and we can get into my later. But let me first kind of touch it briefly on like what are we based and how it works. It's a proof of work blockchain been around since 2018. Lots of, you know, projects use it. The way that the incentive model actually works is quite interesting. So there's just a fundamental block payout per block. You pay for 200 years of storage upfront. That's what your transaction fee is, like transaction costs to store your piece of data.
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