Recently data is booming at a great speed, due to the latest technologies ranging from IoT through to blockchain application. Now we can achieve excellent opportunities to manage the immense amounts of enterprise data collected by the companies across the globe, all because of decentralized storage. However, most of us wonder why we have to combine decentralized storage with blockchain and what are the benefits of such a combination.
Recently most of enterprises prefer cloud storage over centralized local data storage. However, most of the cloud storage solution employs a single location to store most of the data of an enterprise and these are managed by single providers, making cloud facilities outsourced. But, the decentralized method takes the data storage into the next dimension; various experts strongly believe that blockchain data storage can soon become a new standard.
In coming the future, the way we treat data is going to change and the normal people will have the power to control their data. Eventually, most people will realize and take their own decision whether they want to trade their data or they want to keep it private. The centralized data storage can be attempting target for hackers and blockchain overcomes that flaw by providing strong security and disruptive features.
It is very obvious that people will only prefer decentralized data storage only if the security provided id impenetrable and which employs extremely strong data encryption to protect the data stored in the decentralized network. A decentralized network also removes every single point of failure, as your data storage is not depended on single source or location.
Decentralized networks and blockchain functionality also ensures that no single party has control over your data. This further makes your data invulnerable, because a correct copy of your data is stored at multiple places.
This cancels out the requirement of buying infrastructure to store the data of your enterprise, as the storage which is decentralized optimizes cost by making use of capacity that is already spare. It is normally committed to decentralized storage which is already available.
These storage marketplaces are huge network with immense storage capacity. This decentralized network can also adapt your requirements and scale up as well as down when necessary.
Decentralized data storage is quite similar to blockchain because of various overlapping concepts. However, blockchain itself is a decentralized data storage network and the operation of the blockchain better suits to store and handle transactional data.
Blockchain can be used for various purposes such as transferring documents to multiple areas in a secure way. However, blockchain data storage cannot properly handle a large amount of raw data. This is where a decentralized network proves to be extremely useful for blockchain.
Recently we have witnessed various popular decentralized applications that are driven by blockchain had to employ traditional cloud storage providers for data storage. However, cloud storage is not a good option for extremely dynamic blockchain applications. Hence the concept of decentralized data storage, which employs storage market places can provide a way ahead. This also allows applications such as prediction markets to progress and acquire vast markets.
The convenient cost and scalability of decentralized storage suits well with the vast range of industries and features such as immutability of data and the potential for extremely high levels of impenetrable security proves to be a valuable asset. These features make blockchain data storage highly beneficial for the industries such as financial services and health care.
In this recent time where web world is so venerable, just a cloud computing employs various risks, due to the involvement of the third-parties to handle the data. Almost any technology, which depends on distributed networks, requires close monitoring. This kind of technology often requires tight security and extremely effective measures.
We all agree that adopting new technologies which includes decentralized data storage and blockchain has its risk and expenses. However, these risks can be reduced, with the right partner. A partner who is cable to assist your enterprise to achieve maximum benefits from the latest technologies.