Storage (Decentralized)

Understanding Storage (Decentralized)

The concept of Storage (Decentralized) emerged between 2013 and 2015 through projects like the InterPlanetary File System (IPFS), Storj, and Siacoin. The primary objective behind this concept is to utilize the benefits of decentralized networks to enhance the privacy, security, censorship resistance, cost-effectiveness, and availability of file storage systems.

It is important to differentiate Storage (Decentralized) from cloud storage, which involves storing files remotely on servers managed by a single service provider like Google Drive or Amazon Drive.

Cloud storage providers have centralized data stores, which means they also serve as a single point of failure. They can experience downtime or become vulnerable to hacker attacks, resulting in reduced availability or even loss of stored data. Additionally, these providers are controlled by private entities, enabling them to restrict access to specific customers and censor data.

In contrast, Storage (Decentralized) systems divide user files into multiple encrypted fragments and distribute their storage across various participants within a geographically and organizationally dispersed network, such as a blockchain. This approach offers several advantages:

– Enhanced security and privacy through the distribution of redundant copies of file fragments. Even if some network nodes are compromised, files can still be retrieved from the remaining nodes.

– Increased resistance to censorship since no single entity has control over the network.

– Improved uptime as data can be downloaded from multiple network nodes, most of which are online at any given time.