Data breaches are on the rise – but decentralized storage can help

Lori Bowers
November 13, 2022
In the News

These days data breaches are becoming more and more common.  In fact, the average cost of a data breach is now $4.3 million.  Enterprises can no longer afford to be blindsided by threats like cyber attacks.  They need an effective way to protect customer information. There are a number of ways to protect data, but one of the most important is data encryption on decentralized storage networks.  Recently Ian Barker, with betanews, spoke with the CEO and founder of Züs on How decentralized storage can help prevent data breaches.

Decentralized storage more resilient to data breaches

Züs is a high-performance decentralized storage platform that powers limitless applications. According to Basu, decentralized storage networks provide an alternative to the current centralized storage model, which is vulnerable to corruption and abuse.  By decentralizing the control of the data, decentralized storage networks make it more difficult for bad actors to gain access to sensitive information.  In addition, decentralized storage networks are more resilient to attacks and outages, making them a more reliable option for storing critical data.  

Decentralized storage systems provide automatic protection

The idea that any system can be hacked is not new, but it is always important to keep in mind just how much control over the data you give them.  This is especially true when it comes to file storage.  Centralized systems are particularly vulnerable to hacking, especially if the administrator is the hacker.  However, decentralized storage provides automatic protection against this by allowing file authenticity to be verified through consensus of their contents and file hashes.  Züs adds another layer of security with data fragmentation. 

More protection with data fragmentation

Fragmentation makes it difficult for hackers to access all the data stored on a network.  When data is spread out across multiple locations, it is more difficult for hackers to find and exploit vulnerabilities.  Additionally, fragmentation can help limit the damage that can be caused by a successful attack.  For example, if a hacker is able to access one fragment of a distributed network, they would only be able to view or modify the data associated with that fragment.  This would prevent them from being able to access the rest of the network and potentially wreak havoc.  By making it more difficult for hackers to access all of the data stored on a network, fragmentation can help protect businesses and individuals from harm.

Improve the efficiency of data storage

As blockchain technology continues to evolve, so too do the ways in which it can be used to help improve the efficiency of data storage and sharing.  Basu also discussed how blockchain can be used to incentivize people to provide capacity for storage.  While also ensuring that users retain ownership of their data and can more easily share it with others. He explains that blockchain can be used to create a storage market, where people are paid for providing storage capacity on a decentralized network.  This not only helps to ensure that there is enough capacity for everyone who needs it, but also that users retain control over their own data.  In addition, blockchain can help organizations meet their compliance obligations while still allowing users to share their data more easily. 

Decentralized storage is more secure

While centralized storage systems are vulnerable to hacking and data breaches, decentralized storage is much more secure.  We can expect to see even more innovative ways blockchain technology can be used to improve data sharing and storage efficiency.  To learn more about how Züs is using blockchain technology to create a more secure and efficient data infrastructure, visit our website today.  

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