, a New York-based blockchain startup has announced a development
of Mediachain, a Bitcoin blockchain-based decentralized metadata
protocol that relies on a InterPlanetary File System (IPFS) to
protect and safeguard a rights to artistic digital works.
Since early 2015, rising blockchain startups have begun to
focus on a growth of blockchain-based temperament and
authentication systems to support artists, freelancers and digital
content providers to strengthen their work from being plagiarised. To
encrypt and store digital rights on a Bitcoin blockchain, many of
these blockchain startups have possibly encoded an ID into the
Bitcoin blockchain regulating OP_RETURN or CoinSpark to reference
centrally hosted information or used a custom-built blockchain to attach
metadata directly to transactions.
But there are several hurdles in regulating these dual techniques
in encoding metadata onto a Bitcoin blockchain.
For example, a limit information storage per transaction authorised by
the Bitcoin protocol’s built-in OP_RETURN formula is 40 bytes. This
restricted storage creates it formidable to store prolonged strings of
metadata onto a Bitcoin blockchain. Thus, regulating OP_RETURN to
encrypt metadata onto a Bitcoin blockchain becomes extremely
inefficient and is disheartened by core developers that consider that
it contributes to “blockchain bloat.”
The emanate with a second technique of building