Paparazzi implements IPFS technology and blockchain to create a true peer-to-peer application that powers
the visual-centric ecosystem. IPFS utilizes the same cryptographic protocol as blockchain, which will power
Paparazzi’s application. The whole ecosystem is then powered by blockchain technology.
IPFS (Interplanetary File System)
IPFS is an open-source set of communication protocols that fundamentally changes the file sharing system. Paparazzi utilizes IPFS technology to power a P2P-based application.
How does it work?
When users register on the Paparazzi mobile application, automatically the user will register on the IPFS node. The user will be allotted an IPFS directory with an ID.
Each photo asset is timestamped and stored on the IPFS directory belonging to the user. The node is connected to the IPFS P2P Network.
PAZZI currently utilizes ERC-20 tokens for trading and liquidity. However, PAZZI will utilize Axis Lab’s token standard to resolve scalability issues of the Ethereum Blockchain.
Using distributed technology, IPFS will duplicate the copies of photo assets over the network, which enhances the security of the application.
Customized smart contracts and third-party APIs can help different parties build interacting applications within the ecosystem.
Paparazzi blockchain is based on layer two technology. This resolves the scalability and speed issues that most Dapps will have.
Multi-asset wallet implemented in the application allows for users to send cryptocurrency to different users seamlessly.