The next few decades are going to be about big data. All industries have storage requirements not only to process but also compute tremendous amounts of data. Blockchain-based storage, even in its infancy stage, is emerging as a better alternative to the traditional cloud storage systems.
How does Traditional Cloud Storage system work?
Let’s say you have a small business where you maintain a specific type of data over the cloud. For the same, you use a service such as Google drive. When you upload and save something to the Drive, Google stores it one of its many data centers spread across the world. Next time when you need the data, your computer will send a ping request to the location where your data is stored, and that’s how you’ll be able to access your files or documents.
Challenges with Traditional Cloud Storage System
Physical location, of course, is the first challenge with traditional cloud storage system. So in the above example, it’s possible that the data center and your location is far apart; which can cause delays as well as errors. Not to forget, the usage of large-scale servers is expensive. Along with multiple levels of operation and constant monitoring, the tech maintenance takes up significant resources.
However, the critical vulnerability of a traditional cloud storage system lies with privacy issues and even tempering of data. Since the data technically is being controlled by one authority (in our example – Google), it virtually grants the access for compromising of data at multiple levels. In fact, in Google’s privacy policies, one of the points is regarding how it can share your data legally with large corporations.
Since there are hierarchical layers to organizing and maintaining the data, the scope of human errors is quite high. That puts the safety of your data at risk.
What’s the alternative?
Few small teams and organizations across the worlds have started using blockchain based storage. It helps them in three significant ways:
It significantly reduces the chance of human error
Increases the overall security and privacy of any data
Compared to the traditional cloud storage, the blockchain-based storage is cost-effective and efficient
How can the blockchain be used for storage?
Blockchain, as a technology, decentralizes the cloud storage by eradicating the requirement for a trusted third party. Since every single transaction is logged along with being time-stamped, data is sufficiently secured, and it cannot be tampered with in any form. The involved node can’t be changed, so blockchain-based cloud storage ensures that the data at all given points is accurate. A blockchain-based storage system is both transparent and traceable. It ably deals with the shortcomings that are a crucial part of traditional cloud storage modes.
The amount of data generated over the Internet is only going to multiply at a tremendous rate. The need of the hour is a cloud storage system that doesn’t compromise on data immutability while being affordable and efficient. Blockchain-based storage might be the solution the world will sooner or later need.