We utilise storage daily. Since the days when files had to be held on floppy disks or uploaded to the “cloud,” storage has advanced significantly. Decentralisation is the process through which power is transferred from a centralised body to a more decentralised and “liberal” system. The idea itself has been around for a long, and a previous idea may be compared to the invention of the Internet, which democratised the dissemination of information. The phrase is currently being used in opposition to Blockchain technologies like Bitcoin and Ethereum, which decentralise computing power and financial activities. There is no need to change anything if it works perfectly, and the present Google Drive, Dropbox, and OneDrive solutions are excellent choices. However, due to the limiting nature of some services and the more well-known revelations of recent corporate data thefts, there have been growing worries regarding why consumers desire to migrate from these platforms. Equifax is one example (data expenses could reach $400 million). Cambridge Analytica Facebook (Up to 87M user data leaked). Several circumstances caused the security measures breach. However, storing such information on a central server is a significant factor. Since the beginning of the Internet, data breaches have occurred, and businesses have learned how to deal with them. However, it has come to light that decentralised storage may contribute to some of the solution’s problems. Blockchain-related businesses are investigating and implementing decentralised storage as a potential solution. It is a system of storing your files without relying on large, centralised silos of data that don’t undermine important values such as privacy and freedom of your information. There are many blockchain solutions, such as Bluzelle, Filecoin, Siacoin, Skynet, Storj. They involve a cryptocurrency layer, with the platforms usually having a native coin used for powering the on-platform economy. These coins have clear utility as they can be used for purchasing data and data storage space on the platform. We at Web and App Studio are currently evaluating the right decentralised data solution for one of the projects we are building.
21 December 2022
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