What Is Decentralized Storage?
Decentralized Storage Benefits
Decentralized storage is a cost-effective alternative to traditional public cloud services like AWS and Google Cloud. By distributing data storage over a network of computers, decentralized storage eliminates the need for large-scale, centralized infrastructure which reduces costs.
Beyond cost savings, decentralized storage provides additional benefits when compared to conventional cloud including enhanced data resiliency, availability and security; all made possible because of decentralized network architecture.
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Filecoin is the world’s largest decentralized storage network. Filecoin consists of thousands of independent storage providers distributed throughout the world that store data.
The future of cloud storage is decentralized.
A Better Cloud
Today, cloud storage is how most organizations store their data. It provides a secure way for companies to host data they may need to access remotely and share between multiple verified users. On the surface, it seems like a viable solution for an organization, but closer inspection reveals several potential flaws, including:
- Centralization: All data is stored with a single company, and often in one or very few geographical locations. This exposes servers to geopolitical, natural disaster, and security risks.
- Fragility: Cloud storage services can isolate data from the people that own it by limiting its transferability. With companies typically invested in a single vendor, these lock-ins can become a concern for those who wish to maintain multiple instances of their data.
- Cost: Enterprise data storage on the cloud has varying rates. Lock-ins tend to reduce the ability of organizations to negotiate prices, creating high-friction markets.
Decentralized storage solutions like Filecoin provide a compelling alternative to these shortfalls. Filecoin offers enterprises all the utilities they’ve come to expect from cloud storage services without the vulnerabilities that are inherent to a centralized data storage system. Among its benefits are:
- Decentralization: there’s no single-point-of-failure and no proprietary lock-in. Data can be spread across multiple storage providers around the globe who guarantee its permanence and availability in the face of any individual risk.
- Robustness: Cryptographic data is verified daily and multi-copy architecture means there’s always redundancy built into the system.
- Efficiency: Decentralized storage is cheaper than cloud storage because of a competitive bidding system that forms the core of the infrastructure. Data can be stored closer to the edge.