In most organizations and even on the internet today, data is stored in a centralized manner, meaning one central authority can access and use the data as they please. This is called centralized storage of data. However with the advent of blockchain technology, there’s a new method called decentralized storage.
Decentralized storage involves the use of blockchain technology to store data. Since blockchain is decentralized, this automatically translates into decentralized storage. Such a method requires storing the data on multiple computers called nodes.
This is a similar idea to what is used for the Bitcoin network which has multiple nodes on it with no central authority, only for Bitcoin, every node operator can access the full data (blockchain) at any time.
Unlike the Bitcoin network though, the nodes in a decentralized storage system cannot view or alter files because they are automatically encrypted. Instead, users will need their private keys to access the data, effectively preventing unauthorized persons from accessing such data.
Information is shared across the nodes connected to a peer-to-pair network. Data is then split into small pieces and randomly stored on the different nodes. If you need to access your data, all you have to do is query the system and it will source the data in one place for you to download.
Why Decentralized Storage Is Better
While centralized storage has been used for years, decentralized storage promises more because of its versatility. The following are some of the reasons why a decentralized storage is better than a centralized one.
More Security and Privacy
Data stored in one location – like a server – can be easily hacked and stolen, not so with decentralized storage. Since the information is distributed to different nodes, it is practically impossible for an attacker to hack and steal data.
Secondly, users enjoy greater privacy since they don’t need to share any personal information to store data on the system. This secures their private information, increasing their privacy compared to a centralized system.
Faster Data Access
Centralized storage systems can get congested when there’s more traffic than the network can handle. Blockchain technology in decentralized storage takes care of this by reducing bandwidth usage, thus increasing download speed.
Reduced Cost
Because there are many nodes hosting data in a decentralized system, there’s more storage space available; this makes the cost of storage significantly lower compared to a centralized system with limited storage space. Decentralized systems make data storage more affordable as a result.
No Single Point of Failure
Centralized systems are easier to access and manage, but they have one major weak point – single point failure. Centralized systems can run into transmission errors that cause data to be lost.
The multiple nodes in a decentralized network provide greater redundancy and fault tolerance that makes it possible for users to access data from other nodes on the network even if some of them fail.
High Data Integrity
After storing data, you want to come back and access it with the same quality you initially stored it with. With a centralized system, this can be a challenge as data can be easily inaccessible if something happens to a server or the webpage is moved to a different location.
However with a decentralized system, data remains intact for a long time and is accessible indefinitely. The hashing mechanism also makes it retain its integrity for as long as it is on the network.
Cons of a Decentralized Storage
Decentralized systems are better than centralized ones in many ways, but they also have their weak points, which include:
- No easy access to data since multiple nodes are involved
- Compromised nodes can cause a breach in the network
- Limited interoperability since different protocols use different encryption methods.
Conclusion
The idea of decentralized storage is still in its infancy, but it holds great potential for web3. This is evident as every sector of the world economy is now looking into how it can harness the underlying blockchain technology for better efficiency, making it the future of storage.
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