Cloud or Blockchain?

Cloud technologies are used everywhere in our lives. However, with the emergence of Blockchain technology, cloud services are evolving and can prove to be solutions for many of our troubles pertaining to file security and confidentiality. What will a perfect decentralized cloud storage system be like?


In modern times, the confidentiality of personal information is a luxury, which, unfortunately, many people don't value. And this is why we hear about public figures or large corporations experience confidential information leaks more frequently. We easily trust companies like DropBox, OneDrive, Google Drive, iCloud and don’t doubt that our most sensitive data can be sold, lost, and stolen. These situations occur, and commonly without the data owners knowing.


In August of 2014, a hacker successfully breached the iClouds of several famous individuals. The hacker leaked everything from personal photographs to passwords for social media accounts as well as other personal data. There was another situation involving Dropbox as well, where a hacker managed to steal over 60 million passwords from the service and place them in open access online. And these are all but a few examples amongst many others.


It should be no surprise that such circumstances have impacted people's relationships with cloud services. Many reject using them, while others simply don’t want to store their personal data on such services (passwords, photographs, document scans) and limit cloud service use to business-related needs due to the convenience.


But what is a Blockchain then? Will this technology become a panacea for the aforementioned issues? Practice says yes.


We remind you that traditional cloud services are support and controlled by third parties which move and store data. Unfortunately this model, just like any other based on trust, suffers from shortcomings which can negatively affect the security of data storage. Traditional clouds are plagued by many potential security threats, such as malicious software.


How will Blockchain help?


The enhancement of cloud storage through the use of Blockchain technology (known as decentralized cloud storage) will allow users to transfer data without intermediaries. The elimination of centralized servers from the question will significantly increase the security and confidentiality of managed data.


All users of the cloud will be connected to a single network. Key Blockchain features which will be involved in this process will become has-functions, registers, and encrypted keys. Just like any other Blockchain solution, decentralized cloud services will be equipped with a reward system for maintaining the integrity of the network.


How much will decentralized cloud storage cost?


In theory, such a system for transferring and storing data requires the attention of qualified developers, providers, and users, which together, act as major costs. Other expenditures, also need to be taken into account, such as electricity costs and other resources, which are used during processes.


What do we gain as a result?


Cloud storage supplemented with Blockchain technology, which will be fully user controlled. Thus, the secure transferring of data can no longer be compromised. Client encryption (with subsequent decryption) will provide end users with full access to transferred files.


When will this happen?


Currently, there exist 2 projects which are concentrating on decentralized cloud storage, Storj, and Sia. They utilize unused hard drive space on a global scale to create a data storage market, which should be cheaper and more reliable than centralized clouds. People that will provide their hard drive space will receive money in exchange. And so, a consensus will be reached.


Thus, the first steps towards creating decentralized cloud storage have already been made. And it's quite possible that in the near future, people will not scout for powerful video cards, but rather for huge volume hard drives.


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Dmitriy Osiev

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