Future decentralized data storage for blockchain

After a few years of development, there are now a significant number of crypto companies looking to disrupt a range of industries and they have the financial foundation to realize this vision. These companies believe that blockchain will support a new decentralized Internet, and they are hurrying to build decentralized applications that people will use to access this revolutionary new infrastructure. At the same time, even companies that have not fully realized the potential of the blockchain are still considering the advantages of decentralized data storage.

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However, while I am as optimistic as everyone else about this decentralized future, we cannot ignore the issues that are currently hindering progress.

Blockchain is the future

For data storage, blockchain and decentralization are of great significance, and can provide huge help and clear solutions for solving persistent security problems.

However, before discussing this issue, it is necessary to reiterate the reasons behind the current significant growth of blockchain.

As we all know, this technology can provide a significantly more secure environment for value exchange across the market through encrypted consensus. These benefits are why it is hailed as a major destructive force in everything from media to medicine.

For data storage, blockchain and decentralization provide huge benefits and provide clear solutions to current security issues. For example, a major breach by credit reporting agency Equifax in previous years exposed the personal data of more than 145 million individuals to unauthorized third parties.

Today, in the centralized world of cloud storage, the huge databases of leading multinational companies are like targets for hackers to access consumer data for criminal activities. Not only is this insecure data store very fragile, it is completely unnecessary.

The way a centralized database is affected by an outage, even where no hacking has happened, clearly illustrates why something must be changed. In 2017, a major failure in AWS's eastern United States affected global web applications such as Github, Slack, Adobe, and Expedia for hours.

It is worth noting that, as shown by the blockchain, decentralized data storage completely alleviates the problems of hackers or power shortages that affect centralized databases. This is because decentralization and distribution means that if a single node is damaged or fails, the network can continue to update and operate. In fact, to make this data storage architecture even at risk of failure, you must imagine God's behavior on a global scale.

Defects of decentralized application development

However, as mentioned earlier, a simple picture of an untapped opportunity in the blockchain space will be misleading. Although decentralized data storage has clear advantages, there are still many obstacles to overcome.

For example, to date, the main activity in the blockchain data storage and management space has involved file storage. Companies such as Storj and Filecoin have raised a large amount of funds for building blockchain-based file storage solutions. However, it is well known that files are just one element in a data storage environment.

Although these solutions are suitable for large, arbitrary files, they are not suitable for quickly finding and retrieving the smaller data fields that make up microtransactions. These fields are fixed-size, grouped, structured, and easily accessible with mobile download speeds.

Another problem is the immutability of the blockchain. Although it is often hailed as a big benefit of technology, developers know that it can also be a tricky topic. In fact, many people are aware of the software projects they work on, in which immutability is often an unacceptable constraint. .

Because of these two issues, many "decentralized" application developers have had to resort to centralized data storage solutions that they have previously used. However, by focusing on the benefits of decentralization and translating them into the realities faced by application developers, an ideal solution can be found.

How decentralized data storage should work

The best aspect of blockchain is that it can be combined with decades of mature database science to achieve a variable and decentralized data storage, so it is suitable for the purpose of decentralized application developers.

This can happen through a combination of shards and clusters. Sharding occurs when a data set is divided into logical blocks for storage and retrieval for reorganization, which is very similar to how torrents work. A cluster is a group of single nodes on which a single piece of data is replicated. If one node in the cluster fails, the other nodes that replicate the shards can still function normally.

Therefore, a decentralized database will have excellent performance, reliability, scalability, and security features. For example, it will be able to consistently provide high performance during peak hours, but without the need to commit the same amount of hardware during low usage times.

Finally, application developers who can make their applications truly "decentralized" are not the only ones to benefit. Such a system can completely destroy the existing cloud storage business model by introducing a reward for a single device owner.

This is because one of the motivations for running in parallel with the blockchain is the tokenized economy, in which digital assets representing value are exchanged through secure cryptographic consensus. In a world of decentralized data storage, owners of personal devices that use this model to open up free capacity can be rewarded. The large centralized oligopoly that exists today can be replaced by a flexible, cost-effective distributed node collaborative work network, which allows users to expand database resource requirements without the need to manually manage servers and pay peak hardware costs in advance.

This future is much closer than many IT and web operations leaders currently believe. However, with 30 billion connected devices and a large number of well-funded crypto companies expected to build decentralized applications to connect this information by 2020, it may be time to start taking decentralized data storage more seriously.

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Original address: https://www.comparethecloud.net/articles/decentralised-data-storage-blockchain/

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