In the world of Defi, anything is possible. Hundreds of projects are launched everyday each at solving one problem or the other in the blockchain ecosystem. That is amazing ,but it could be quite overwhelming for a “Pleb” who is just looking for a good project to put his/her funds in good use.
You have probably heard of Sarcophagus during your research and want to know more about them. Well this article discusses that and clarifies your doubt on if this project is worth your monies.
What is Sarcophagus?
We can’t go into this without knowing what the project is about, can we?
Sarcophagus is an open source, blockchain-enabled,general-purpose digital deadman switch. To break it down, it is a method of securing your valuable data in case something happens to you.
The name was gotten from the methods the ancient Egyptians used in preserving their royals corpses when they died preventing it from decaying, this project’s usecase emulates that. Built on the Arweave network, Sarcophagus storage backs data with sustainable and perpetual endowments allowing users and developers to store data forever-literally.
From a combination of these procedures, your data is safely stored and secured and ready to be reached anytime you, as the owner wants it.
Sarcophagus has been working immensely on their product and not also forgetting their community too. Over the past months, they have recorded a steady rise in their users of their product and their community in general. People are getting more aware of this amazing product and this increased activity surely speaks well for this project.
From collaborations to community meetings to AMAs, Sarcophagus community is waxing stronger.
Their native token $SARCO is used for the processes of the data storage and security can also be staked for bounty fees and also has governance abilities. This means holders of the token gets to vote on big decisions the project wants to make , hereby building the community even more.
At the moment, Sarcophagus is operating on Arweave and on ETH chain. However, they plan to expanding to Tezos and Filecoin.As far as the blockchain supports proper contracting and data storage, Sarcophagus can make it work.
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