Blockchain is the latest trend that is being adopted by most of the industries beyond finance sector. Also, as we all know, people change to store their data in cloud computing, rather than their own devices. This is because they can access the data anytime from anywhere while saving storage. At present, the cloud computing is controlled by centralized authority and most of the companies utilize the storage of large companies like Amazon Web Services, Google and Microsoft Azure. Cloud Storage is a simple and reliable cloud computing method to store, retrieve and share data through internet. Instead of running on centrally, few companies started to make it decentralize through blockchain because there will be no company controlling the data within the network.
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At present, the cloud storage is being purchased from a trusted third party cloud vendor, who owns and operates data storage. It is centralized authority who delivers the data storage over the internet in a pay as you go model. These third party vendors will manage the capacity, security and durability to enable the data to be accessed anytime anywhere from your application.
Since this doesn’t require any objects to store data and is accessible all around the world, it is being mostly used by almost every organization in the world. Applications view cloud storage either through traditional storage protocols or directly via an API. Most of the cloud storage vendors offer add on services exclusively designed to help collect, manage, secure and analyze data at a larger scale.
As businesses and entrepreneurs move their data and application to the cloud, the number of cloud market is booming. This platform gives a great advantage by enabling global access, however, they still have concerns related to cloud computing. While businesses and fortune companies adopt cloud storage for its benefit, they still face significant computing challenges. The following are some of the common challenges faced in cloud computing.
Blockchain cloud storage solutions stores the data in a more secure way with more privacy. It takes the users data, make it to small chunks and add an additional layer of security before distributing the data throughout the network. This is possible with blockchain features like hashing functions, public/private key encryption and transaction ledger. Each chunk of data will be stored in a decentralized location and so it is difficult to hack because when someone tries to hack into it, they have to first get encrypted data and they just get a chunk of data and not the whole file stored in the blockchain. Hence your data and business information becomes more secure while also having global access.