The Future of Cloud Storage: The Blockchain Approach

Cloud Storage

From Floppy Disks to the Cloud

It’s been over a decade since cloud storage has indulged us with its presence. Before that, people keep their files in material storage devices and hope that viruses won’t corrupt their hard drive or their floppy disk won’t get damaged. With cloud storage, you can access your files from any gadgets at any time, at any place. It has made file sharing more convenient and you won’t have to worry about the possibility of your flash drive betraying you. However, many of us are still reluctant to use this technology. Who would forget the news of the iCloud hacking scandal where hundreds of nude celebrity photos were brought out to the public without their consent? That would make you think twice every time you allow Dropbox or Google Drive to store your important files. Is it really smart to put our valuable information in the cloud?

Who Can We Trust?

Trust is the main hindrance in this technology and that is where blockchain solution sweeps in to save the day. We can’t deny the benefits of cloud computing, but how do we make ourselves feel secured from the real threats of data breaching? And can you really trust those third-party storage companies that they are not leaking your information to your competitions or higher governing bodies? Not to mention their overwhelming fees.

With Blockchain, You are the Key!

Through the use of blockchain technology, these platforms can be decentralized and freed from third-party providers. But how can it operate and who will manage it? With the blockchain approach, cloud computing can use peer-to-peer networks and torrenting. Imagine you have made a video of a very lucrative business proposal and you want to save this file in the blockchain cloud. This file will then be shredded into tiny fragments. Each fragment will be encrypted and then distributed intelligently across a number of nodes in different parts of the world. And only you have the access to retrieve them back. If a hacker wants to steal your data, for example, he or she will have to trace each fragment and hack each network that contains it. Even if he succeeds in doing this, he will need the consensus of all the nodes to be able to access it. Even the nodes that hold your data won’t be able to access them since it’s heavily encrypted and one node only holds a part of the file. The whole point is that only you have the key to your file and no one else can open it without your consent.

Infinite Possibilities Require Infinite Spaces

There are not many decentralized cloud platforms out there. Those platforms promise better security, faster data transfer, and lower costs. To accomplish this, they rent unused hard drive spaces across the globe. Sort of like the Airbnb or Uber of hard drives. Those who rent their spaces are rewarded and storage users can access them at a cheaper price. Some of these platforms are Filecoin, Storj, MaidSafe, and Siacoin. But one platform that stands out is ProximaX. It not only offers cloud storage but real-time streaming as well. It also leverages NEM technology which is one of the leading innovators when it comes to blockchain technology. These technologies offer infinite possibilities. At the end of the day, it’s not just about storing in a community of hard drives. Some used cases where you can apply the technology include records and reporting systems, big data applications, video streaming, records management, supply chain management and a lot more. The only limits in blockchain are the limits of your imagination.

About the Author

Jude is an educator, a blockchain researcher, a public speaker, and an investor. The ultimate goal is to promote and educate the public, the government, educational institutions and corporations about blockchain technology.

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