Cloud technologies with good flexibility and scalability made a great contribution to Internet development. But the Distributed Ledger Technology has all the chances to steal competitive edge from them. Despite the DLT is quite an infant, developers are examining up hill and down dale how they could use them to enhance the data storage.
The blockchain tech can be used as a means of joint access to the distributed database of several companies that for this or that reason need the outcomes of their economic operations to be recorded. In this case, the cloud infrastructure is incomparably more useful than the traditional ways of data sharing; it also exceeds direct communication channels in a number of other factors.
Cloud storages have once come to rescue but to choose the right one has not been an easy matter - some of them establish strict limitations on the size and types of files, some of them have no mobile client. The most widely used cloud storages are Dropbox, Google Drive, OneDrive, Mega, MediaFire, Box, pCloud, and 4Sync.
Unfortunately, most cloud services are exposed to risk caused by centralization. Dropbox makes a “good” example. This popular service has been compromised more than once. It is noteworthy that in contrast to many centralized competitors Dropbox doesn’t use data encryption while all the decentralized storages encrypt user’s data by default.
Distributed Ledgers can really become much more efficient from the point of view of resilience to censorship and security in general thanks to their initial potential for constant extension. The blockchain tech can dramatically change the situation exactly in the sphere of distributed data storage.
What We Have Up To Now
The project has existed since 2015. It operates on the basis of blockchain in its nature quite close to the Bitcoin blockchain. The way SIA stores the data is similar to MaidSafe – user’s files are being encrypted, divided into parts and distributed in the decentralized network. Users access the files with the help of their private keys, so nobody except the owner can get access to the information uploaded to the network. The Team awards the participant with the SIA Tokens. We cannot but note that the service is more than affordable – storage of 1TB of data within the SIA service will cost 10 times less than that within the Amazon S3 and Microsoft Azure services.
The project was born in Scotland. It has been developing the infrastructure for the decentralized storage of data since 2006. The MaidSafe Token has existed and presented at the stock exchanges since 2014. All the files uploaded by a user to the network are being encrypted and divided to the small parts called chunks that are being distributed through the whole network. Thanks to the complicated authentication system, only the owner of the data can access the final file and its chunks.
The project was launched in 2014. SJCX Token was released through the Counterparty protocol that operates above the Bitcoin blockchain. Now the platform is waiting for the great update and new launch that is going to take place soon. Recently there was launched the alpha version. The Storj Team Members are going to award users with the highest levels of security and privacy thanks to end-to-end encryption. As for the price, the developers promise it is going to be 3 times less than that the centralized clouds can suggest.
Nowadays the distributed data storage together with the distributed calculations is the key trend in the blockchain economy. Most projects are still on their early stage of the development. If the blockchain market will continue growing at the same speed, soon we will see the services compete with each other. The main parameters the services have to work on are the speed, scalability, security, and price.