Hyperledger Blockchain has already caught so much attention nowadays. People want services which are faster, secure and provide easier access. We produce a large amount of data every day. There is a requirement for secure and economical storage methods for our sensitive data.
Do you know about Cloud Storage
Google drive is one of the cloud storage services that we use for storing. After you have uploaded your data to the cloud, Google put this data in one of its data centers. And when you intend to access your data on google drive, your own computer throws a request to that data center and approval is sent as you have got access to your data. However, there are sometimes when your data center is not closed to your physical location. This causes delays in delivery. No one would like to acknowledge this. Moreover, Google’s protection terms layout various situations where they can lawfully access and offer your information.
Our current Cloud computing systems are outdated and not efficient. We need secure and trustworthy systems. Blockchain is popular among masses for its transparency and security. It removes the need for trusted third parties and yet creates trust. It will potentially revamp the obsolete systems. As Hyperledger Blockchain uses a decentralized, distributed database to record any transaction or anything related to goods, products in a digital ledger. It basically forms a transparent peer to peer system that can be traced and accessed by anyone in the network. After every transaction, the system logs and timestamp it. It is impossible to modify it because every node across the network has a full copy of the data. Regular verification keeps the records accurate.
Earlier companies used to host their own servers on their premises and they would use quite decentralized storage methods. They had more authority but the cost for these methods was high. The whole process was costly for companies as they needed in-house expertise for maintaining expensive servers and drivers. They needed putting in off-site backups for redundancy.
Nearly all companies now store their data on clouds. Services such as Amazon S3 offer incredible value at $25 per terabyte per month and replicates data across several data centers and offer authentic uptime and redundancy. In cloud services, putting trust on third parties is not wise. As our sensitive data is unencrypted. We cannot rely on third parties that it will keep our private data secure. Thus, cloud storage services if enabled with hyperledger blockchain, can offer cost-effective and efficient solutions for cloud storage.
Amazon S3 succeeded in redundancy through spreading files throughout the regional data centers. This results in a major failure of each data center. But blockchain stores data on dozens of individual nodes in a very smart way and all data is dolled out across the globe. So, performing meaningful disturbance is very complex.
Third parties have no authority and access to files. Blockchain has the data stored in encrypted form. Users have a control over their own keys.
Storj: Storj is based on blockchain decentralized technology which provides a secure and private way to store data on clouds even if you are not using server farms. The data is in encrypted form and is disseminated across the Storj network. Storj won’t provide anyone access to your data. It is so hard for a hacker to get access to your data. In case, they succeed in decrypting a one piece, they cannot figure out the meaning by any of the ways.
Sia: Sia is a popular Secure and decentralized storage platform which is based on the Blockchain technology.