What Is Blockchain Storage?
Blockchain storage is a way of saving data in a decentralized network, which utilizes the unused hard disk space of users across the world to store files. The decentralized infrastructure is an alternative to centralized cloud storage and can solve many problems found in a centralized system.
How Blockchain Storage Works
Blockchain storage operates on a foundation of distributed ledger technology (DLT). Files are first broken apart in a process called sharding. Each shard is copied to prevent loss of data. The files are also encrypted with a private key that makes it impossible for them to be viewed by other nodes in the network. The replicated shards are distributed among decentralized nodes all over the world. The interactions are recorded in the blockchain ledger, allowing the system to confirm and synchronize the transactions across the nodes in the blockchain. Blockchain storage is designed to save these interactions forever and the data can never be changed.
Blockchain Storage vs. Cloud Storage
Blockchain storage is a potentially cheaper, more secure, and more reliable alternative to centralized cloud storage. Providers of centralized cloud storage prevent data loss by making copies of the data and storing it in different data centers. The large amount of data that is duplicated in this process can create excessive amounts of surplus information. Also, cloud storage requires enterprise-grade hardware for its data centers. These factors can make centralized data storage significantly more expensive than blockchain storage. By taking advantage of the empty space on users' devices across the world, blockchain storage can cut up to 90% of the cost of centralized cloud storage. Individuals and businesses can profit by renting out the unused space on their hard disks for others to use.
Advantages Of Blockchain Storage
In addition to the advantages explained above, having data stored across dozens of individual nodes also gives blockchain storage security benefits. Encrypting the files and distributing them across the decentralized network makes it harder for hackers to access the data. There is no central entity controlling access to files or possessing the keys needed to decrypt the files. The private keys are controlled entirely by the user, making it theoretically impossible for a third party to access the files. Sharding also promotes security and privacy. Blockchain storage could also allow faster and more customizable storage systems because users are able to manipulate settings, such as the speed of retrieval and redundancy.
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