Decentralized storage required for Web3

On the way to explore Web3, the characteristics of decentralization are particularly obvious. More and more market elements are gradually stripped away from centralized controllers to achieve open source and fair value distribution. Among them, with the exponential growth of data in the Web3 era and the highly centralized storage situation, data security and privacy are facing huge challenges, and the industry recognizes that storage upgrades are imminent. This also ignited the development of decentralized storage projects in the Web3 construction path. Due to its own decentralized characteristics and rigid development needs, it has long been recognized as a key component of Web3.

What is Decentralized Storage

As we know, the network under Web2 is highly centralized, and most of the data rights are in the hands of a few powerful companies. Whether we post or share something online, it will be owned by those powerful companies. Many times, centralized networks are used by users by leveraging content created by those users and having absolute control over the information. Users don’t see and use information the way we perceive things now. Similarly, in the centralized network driven by the data economy, data storage also follows this principle. The data originally produced by users will basically be stored and utilized by centralized companies in a unified manner, and for users with objective storage needs, they need to pay a lot of storage fees to the company that provides the service.

Distributed storage networks are quite different from centralized networks. Decentralized storage is to distribute data to multiple network nodes, store customer data based on smart contracts, and form a point-to-point distribution service, which can store, disseminate and distribute information nearby. Since there is no centralized network operation cost, decentralized data storage can improve storage efficiency and reduce storage costs.

In addition to the cost reduction and efficiency enhancement mentioned above, distributed storage provides many security advantages compared to traditional cloud storage providers. They divide the stored data into small pieces, which are encrypted and stored on nodes. , making them invisible to workstations hosting user files for greater privacy. And the whole system is fault-tolerant, the destruction of a single node will not make the whole system crash, and by storing files redundantly, the lost data can be easily recovered.

So, here we will think, why do users take the initiative to become savers? This is the time when the Token economic incentive mechanism of the blockchain comes into play. In the decentralized storage network, by setting a reasonable value distribution, it makes more users willing to contribute their idle resources, thereby amplifying the entire market. storage capacity. For users, no matter how much value you contribute to storage, the storage ecosystem will reward you with Tokens, which are positive incentives and complement each other.

Decentralized storage required for Web3

(Source: mytoken)

The relationship between distributed storage and Web3

Driven by technologies such as 5G, AI, the Internet of Things, and the Metaverse, the data economy is coming at an unstoppable pace. In order to meet the requirements of data traceability, determination, storage of certificates, confirmation of rights, collaboration and transactions, distributed storage will combine many technologies to build the underlying storage infrastructure of the digital economy. Different from the centralized storage network used by most of the existing Internet applications, the digital economy distributed storage network supported by the blockchain and built by the Token economic incentive mechanism will be a decentralized network without boundaries, in line with the data itself. Characteristics and needs of data economic activities.

Such a decentralized storage network is not constructed by one or several server providers, but by ordinary users—data producers, or any computer, which can become its nodes to complete the construction and development of the entire distributed storage data network. Operation; such a network does not require permission, and nodes can join at will, so as to meet the needs of data storage network expansion with the expansion of data economy and storage scale. In other words, in the era of the data economy, every user and data producer will become a node of the network at a certain point of time, perform data storage and economic activities on this network, and provide storage computing power and support for this network. Store large ledger accounting.

When the data economy develops to a certain extent, people are widely and deeply involved in it, and almost everyone will participate in different data storage activities more or less, opening the era of universal storage. To sum up, the relationship between distributed storage and Web3 is complementary. Distributed storage is the carrier to meet the storage needs of the Web3 data economy era, and it mobilizes more idle resources in a completely different way from Web2, so as to obtain materials and materials nearby. Storage, complete decentralization to realize the distribution and storage of data, and the realization of visible resources in this revolution, this new distributed storage method that attributes value to value creators is already a must in the process of the Web3 era .

What are the distributed storage projects?

After several years of development of distributed storage, various projects have been launched one after another, among which Filecoin is the most eye-catching. In addition, there are Bittorrent, Storj, Arweave and so on.

As an incentive layer project launched by the IPFS team, Filecoin has naturally attracted the attention of the industry, and after years of development, it has become a leader in the entire track. At the time of the mainnet launch in 2020, Filecoin was hyped, but the industry’s comments on the project were mixed. At present, the Filecoin mainnet has withstood the test of time. Through continuous development and polishing, the reliability of the project has been continuously verified. From the perspective of industry promotion, Filecoin focuses on the data storage market through blockchain and IPFS technology. Subvert the existing data storage market structure, so as to give full play to the advantages of distributed storage in terms of transmission efficiency, storage cost, and data security. It is of great significance to the development of the industry in itself.

Decentralized storage required for Web3

(Source: filscan.io)

What Arweave wants to do is a “Library of Alexandria” that will not be burned in the Web3 world, and is committed to providing a permanent storage service for information. What Filecoin wants to do is Web3’s AWS, a pay-as-you-go elastic cloud storage service. The two are solving two different “big problems. The solutions are different, but they can complement each other in the market. The project has been launched since 2017. The distributed storage market is also at the top.

Storj is a decentralized cloud storage solution. The project observes that the vast majority of drives only use about 25% of their capacity, and utilizing the remaining 75% does not require any more capital, electricity or manpower. So allowing people to rent out the spare space of their drives is very easy for users to accept. The project is built on Ethereum, and users can use its platform token STORJ to purchase storage services on the Storj platform, or provide idle storage space and get STORJ token returns.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/decentralized-storage-required-for-web3/
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