As web3 and the decentralized web continue to gain adoption, it is essential to consider the implications for data storage. Centralized storage solutions like iCloud and Dropbox have become increasingly popular in recent years, but they come with a number of security and privacy risks. In contrast, blockchain-based storage is much more resistant to hacks and data leaks. Since data is stored in an encrypted format, it is only accessible to those with the proper decryption key. As the decentralized web continues to grow, blockchain-based storage solutions are likely to become the norm.
When it comes to data security, one of the best solutions is to divide data into multiple encrypted segments that are interlinked via a hashing function. This makes it more difficult for sophisticated hackers to access the data, as they would need to decrypt each segment individually. With hackers seemingly able to access any database, it can be hard to know who to trust with your information.
Blockchain-based storage may offer a solution
However, blockchain-based storage may offer a solution The public and variable nature of the blockchain allows users to track any changes made to the data. The blockchain cannot be modified without the consensus of the network participants. As a result, this solution provides both security and transparency. This makes the blockchain an ideal platform for storing data that needs to be immutable.
In the past few years, a number of blockchain startups have entered the cloud storage category, promising improved security, high-speed data access, and regulatory compliance. As mentioned in the article, “The future of data storage is decentralized,” in Brave NewCoin, one of these startups is Züs (formerly 0Chain). Which, they raised $40M in a February 2018 initial coin offering (ICO).
Züs claims to offer a ‘zero-knowledge’ cloud storage platform that is highly secure and scalable. The platform makes use of sharding and replication techniques to achieve high performance and 99.9999% uptime. Züs also says that its platform is compliant with GDPR and other data protection regulations. With its strong team, impressive list of partners, and well-funded ICO, Züs is one blockchain startup to watch in the cloud storage space.
The Cloud industry is booming
It is no secret that the cloud industry is booming. Legacy providers like Amazon, Microsoft, and Google have dominated the market for years. Now a new breed of startups is starting to establish itself. Blockchain is one of the most promising areas for innovation.
For cloud storage providers, blockchain-based storage could be used to build a more secure and efficient infrastructure. For example, blockchain-based smart contracts could automate tasks that are currently performed manually. So far, legacy providers have been slow to embrace blockchain. However, as blockchain startups begin to gain ground, it is only a matter of time before they start to take notice. After all, if there is one thing these companies understand, it is the power of innovation.
The benefits of blockchain-based storage are clear. It is likely that we will see more businesses use these technologies in the years to come. As these solutions offer a number of advantages over traditional storage methods, including security, reliability, and scalability. Additionally, they can help businesses reduce costs and efficiency. If you are interested in learning more about how blockchain-based storage works or want to start using it in your business, be sure to check out Züs.