Crypto Asset Overview: Oyster Protocol
Last updated:DISCLAIMER This post reflects my personal opinion only; it does not constitute investment advice of any kind.
Overview
It's a decentralized file storage service. Tokens are used to pay for this storage and they are "mined" through using a small amount of users' CPU and GPU when they visit your PRL-enabled website (you need to add a JS snippet, similar to Google Adsense).
In other words, website owners can use Oyster to generate revenue while other people use the decentralized file storage service made possible by that mining.
The Oyster platform is based on a tangle, like IOTA's.
Tokens: PRL,SHL
PRL is Used to pay for uploading and keeping files on the Oyster tangle.
SHL (announced in February 2018) is another utility token that will be used to pay for DApps on the Oyster platform.
Both tokens are earned via JS scripts on your website or by buying on exchanges.
Similar to
Basic Attention Token (BAT)
- BAT is also aimed at monetizing web content, but it proposes an ad-free web browser instead of Javascript snippets.
Storj (STORJ)
- STORJ also offers distributed file storage but you offer hard disk space for STORJ tokens instead.
SiaCoin (SIA)
References
/r/Oyster: Can someone explain why PRL is better than alternatives? (Early 2018)
- Very informative topic on otehr coins too, such as Siacoin, Storj and BAT.
Oyster Medium: Dawn of a New Era (Early 2018)
- Explains the use of the SHL token.