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Nowadays, turning to cloud-based providers for data storage is a common practice of businesses. It offers a convenient and affordable solution, cutting costs of on-site hardware and allows the company to manage its data from any location, at any time. But this convenience comes with a high price, as there are inherent risks when entrusting sensitive data to a third party.
Most cloud providers operate under a centralized structure, which results in vast concentrations of user data being stored on a single server or cluster of servers. This has naturally made cloud storage services a prime target for cybercriminals. But hackers are not the only concern- simpler issues like hardware failure, intrusive government surveillance or even disgruntled employees turned malicious could severely compromise the safety and privacy of third-party stored data.
Experts think that decentralized storage is the solution to this issue since it gives users more control and ownership of their data while providing the easy access of traditional cloud platforms.
So how does it work?
According to Cybernews, unlike current models where data is stored in one location and controlled by a central authority, a decentralized storage platform will fragment user data into smaller pieces, encrypt it, and distribute it across multiple nodes within a peer-to-peer (P2P) network. Users can then access the network directly with their own private key. The required pieces are automatically retrieved from the various nodes and reassembled to obtain the original file.
This is all done without the input of any middleman, giving users complete self-ownership of their data. Nobody other than the owner of the private key has access or control to a complete dataset. The distributed nature of decentralized storage makes it much more resistant to things like data loss, hardware failures, and malicious attacks.
With decentralized storage users can choose exactly where and how their information is used, they can encrypt their data to ensure that only they can decide who gets access and when. Once the data is uploaded to the blockchain it becomes immutable, therefore tamper-proof and resistant to fraud or manipulation.
As society moves towards a more decentralized internet, self-custody will become the norm. This change represents a significant paradigm shift in data ownership and is one of the core values being adopted by a new generation of companies and developers.
Information provided by Cybernews.