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Concepts

Technical

Pedity technology stack consists of Stellar, Stellar Assets(PEDI token), Stellar smart contracts, IPFS and features of IPFS such as libp2p, bitswap, Unixfx, bootstrap nodes and IPLD. The backend API currently serves as a gateway for IPFS content and this will become more distributed when more nodes join Pedity.

Fees, Content and contracts

Content Fees

Content fees is divided in two parts.

1. Storing IPFS hash on blockchain

Pedity stores IPFS hash in stellar blockchain in memo field and manage data fields. Each operation cost minimum fees on stellar operation.

The base fee (currently 100 stroops) is used in transaction fees. The base reserve (currently 0.5 XLM) is used in minimum account balances.

(# of operations × base fee)

Reference Stellar Fees

2. Storing data using IPFS

Pedity stores data on nodes using IPFS, each node is paid minimum PEDI fees and the fees is distributed to every node that stores this data. Currently minimum fees is 10 PEDI for any content which can be changed in future since data size may vary for video, images and text based content.

Refer nodes.md for more information

Speed

Speed is an important factor in Distributed Ledger Technology(DLT), every content on Pedity is a transaction and hence transaction time determines when an article is available on Stellar. Stellar transaction time is approximately around ~5 seconds.

Reference Stellar Transactions

Smart Contracts

Pedity has various types of rewards on the platform but subscriptions are processed based on smart contract. Once a reader/user subscribes to the author, the transactions are processed based on smart contract. By Alpha 0.5, even the goals will be based on smart contract so that an author can raise funds for a particular goal and if authors fails to achieve those goals, the funds will be released back to all contributers.

Refer rewards.md for more information

Key Storage

In Alpha 0.1.x i.e. testnet, private keys were stored in browser storage. While this improves usability, it is preferred to never store private keys. Your private keys will never be stored at any node as well. For Alpha 0.2, you will have to use your private key for every operation. Since anyone can be a node on Pedity and key security is most important, we are working on making this a much better experience in future Pedity release.

Stellar

Pedity uses Stellar network through Horizon (RESTFUL HTTP API Server), which is basically built on stellar core that is maintained by various individuals and organizations. The main backbone of Pedity is Stellar Network and we interact with Horizon for all operations.

Stellar

Read more about Stellar

NOTE: Pedity is also planning to be a stellar node for better operations in future.

IPFS

Storing content related data on blockchain is possible but not preferred. Instead we use IPFS to store that data, IPFS is a distributed system for storing and accessing files, websites, applications, and data. Read more on IPFS

Since there is no reward for storing IPFS data for users, we reward each node to store Pedity content in a unique manner using PEDI. Read nodes.md for information on storage of content.

IPFS is still in active development and so is Pedity, make sure to read CHANGELOG on github to stay updated about every release.

PEDI Nodes

There are two type of nodes on Pedity, Active and Dormant nodes. Key difference in both node is that Active node are server specific and Dormant Node re user specific.

Active Node

  • Need server space
  • Stores all content on PEDI ecosystem
  • Can have their own website/niche
  • Can create their own community of users
  • Gain PEDI rewards for storing content

Dormant Node

  • User specific nodes
  • Stores own content
  • Do not gain PEDI rewards

General

These are general concepts on Pedity where your XLM/PEDI address of Stellar Network becomes your identity.

Content

Your content on pedity.com (or any other node) will be like Pedity.com/article/73.......dc4062defb01

As you might have guessed, the 73....dc4062defb01 is the transaction id. Every transaction id can be viewed as a content if they are using valid IPFS data.

An example of article :- On Pedity Alpha 0.1.x testnet :-

Pedity Article

Profile

Your profile on pedity.com (or any other node) will be like Pedity.com/profile/G....ADDRESS

All the data of this profile is stored in IPFS which is distributed to different peers using PEDI.

Public key or Sharable Address on Stellar starts with alphabet G..

For example :- On Pedity Alpha 0.1.x testnet :-

A profile for address GBD3ECXAO4427NFYIZH6TYSZVX2I76KVUHYYKJIQZUYC3GHA73KHGNNV

Pedity Profile

Blog

Your blog on pedity.com (or any other node) will be like Pedity.com/blog/G....ADDRESS

All the data of this blog is stored as transactions on stellar network and content is stored on IPFS which is distributed to different peers using PEDI.

Public key or Sharable Address on Stellar starts with alphabet G..

For example :- On Pedity Alpha 0.1.x testnet :-

A blog for address GBD3ECXAO4427NFYIZH6TYSZVX2I76KVUHYYKJIQZUYC3GHA73KHGNNV

Pedity Blog

Goals

On pedity.com, content creator can create their own goal and goal URL will be like Pedity.com/goal/G....ADDRESS

All the data of this goal is stored in IPFS which is distributed to different peers using PEDI.

Public key or Sharable Address on Stellar starts with alphabet G..

For example :- On Pedity Alpha 0.1.x testnet :-

A creators goal for address GDVYWH7RHCVOGNTMP2UOSVQ2Y74CXK25I7V7NKOTXEDPNWV2OFEJ4Y6R

Pedity Goal

Promote

Promoting content on Pedity requires a fee of 10 PEDI and allows content to be promoted on Front page of Pedity. The contnet is bumped as a transaction and is pushed on top of explorer, that transaction can be viewed on any stellar explorer.

Community

Read the community section of the docs.

Pedity will be completely open source by Alpha 1.0