Decentralized Blockchain Technology For Cloud Data Storage: How It Works?
For many, cloud storage is fast becoming the most preferred means of storing data, information and files. This is not surprising seeing as it is incredibly user friendly and easy to use.
Most cloud storage services offer a point and click feature that makes uploading your files to the cloud effortless. While cloud storage has been heralded as an amazing innovation, it appears that this new sub-sector is on the verge of disruption.
Blockchain based cloud storage seems to be the next big thing in the file and data storage industry. Before we jump into that though, let’s take a quick in-depth look at traditional cloud storage.
Why Is Cloud Storage The Preferred Choice?
Apart from its convenience –easy to upload and download your data- it provides users with other incredible benefits. For instance, it does the following:
- Serves as backup data for locally hosted data
- Saves a ton of space
- Cheaper than erstwhile file storage options
- Ease of access from any internet enabled device
- Multiple accessibility options in the form of mobile apps, websites and software
- Ensures data is protected from natural and manmade disasters
- Minimizes environmental impact
As you can see, cloud storage is amazing in its usage and functions. It has made life incredibly easier for anyone who requires data storage facilities and needs to access their files on the go.
So, What’s The Problem?
While cloud storage is great, it also has some pretty significant downsides. For starters, it is centralized. These cloud storage companies are owned by companies that often have a physical location where their server farms are located.
This implies that if anything happens to that server farm, that single point of failure can result in the loss of your data and files. It means that your data isn’t really as safe as you’d like to think.
Of course, these companies typically have many fail-safe measures in place in the event of an emergency, but still you have to trust that those work and they can keep your files safe.
That’s just too much trusting, considering that you don’t need to do that with other options like a decentralized cloud storage service –we’ll be talking about this shortly. That, combined with concerns about running costs can be a real issue.
What’s The Solution? Decentralized Cloud Storage To The Rescue?
It’s probably in the form of decentralized cloud storage services that stores your data on the blockchain.
Decentralized cloud storage is poised to disrupt the cloud computing sector and transform the sector, thus eliminating the worries associated with the typical centralized cloud storage services that’s the norm.
Unlike cloud storage that keeps its server source in one location or in multiple locations, decentralized cloud storage offers a storage source that’s distributed across multiple nodes across the globe.
These nodes are essentially computers that are on the network and serve as a storage device for users. This way, there’s never any downtime, your files are always accessible, and you never have to worry about losing your files. It doesn’t matter if one node goes off, others will always be online.
This also speeds up data retrievals you won’t have to deal with bandwidth issues. These data bits stored across multiple nodes will stay on for as long as possible –potentially forever- and can be retrieved whenever you need them.
More importantly, all these bits of data stored across multiple nodes will be encrypted and secure, thus ensuring that your files can only be accessed by you, while eliminating the vulnerability that centralized servers have.
Also, because it is significantly cheaper to have these files on the blockchain, decentralized cloud storage services are typically cheaper and less expensive that their central server based competitors.
Best Decentralized Cloud Storage Services
For now, there’s only four top blockchain based cloud storage services. These are Sia, Storj, Maidsafe and Filecoin. All four services utilize the same mechanism –they provide a platform where all computer users can connect and rent out their unused hard disk space for a fee or token.
As of now, Sia leads the pack, followed by Storj, and finally, Maidsafe. Filecoin doesn’t really have any tangible product for now as the project is still in its very early stage. Currently, all of them are looking to corner an even bigger share of the market.
These all have devoted communities that have adopted or are thinking of adopting these technologies. It’s just a function of who is able to corner the larger market with time. Also, they each need considerable user base to survive as they need the unused space from each device that’s hooked up to the platform.
This is a good thing because competition often drives innovation. There’s a need for multiple decentralized cloud storage platforms to ensure that the prices are competitive and reasonable, as well as consistent in their service and product deliveries.
DBT For Cloud Data Storage Conclusion
Data storage is about to undergo a significant revolution. With these cheaper decentralized cloud storage facilities, users can have access to the best possible file storage options at affordable prices. Decentralized data storage services are bound to completely change the way we interact with our data.
Of course, the survival of these companies is dependent on the increased adoption of their products. With blockchain’s rising popularity, this shouldn’t be a problem in the foreseeable future.