ScPrime is a decentralized cloud storage platform on a network that is distributed across multiple networks. ScPrime aims to solve the problem that a small number of public cloud storage businesses control a significant portion of enterprise data. Besides this, there are other concerns like increased risk of a data breach, monopolistic pricing, and questions of data ownership. Hence, business managers need solutions that can return control to the customer, and a secure cloud provider is also necessary.
According to its whitepaper, ScPrime provides a decentralized network of independent storage providers. These storage providers are compensated for donating small quantities of disk space. Hence, a globally connected ‘datacenter’ is established. To assure the security and durability of client data in a self-organizing and cost-competitive environment, the system combines end-to-end encryption, data sharding (a method for distributing a single dataset across multiple databases), cryptographic signatures, and a publicly auditable blockchain.
The ScPrime platform offers two cryptocurrencies to users. Firstly, there is the utility token of the platform with the ticker SCP that facilitates all the transactions on the platform. For example, users can get storage services of this platform through SCP tokens. Besides this, SCP is also utilized in an incentive program for storage providers to improve the ScPrime network's performance, capacity, and growth. Lastly, ScPrimefunds, or SPF, is a private equity token that isn't available to the general public.