It is stored in hash tables using the key-value database paradigm. First, the historical transaction record, a public ledger that is stored in every node of the blockchain.
What is Blockchain Storage Economics?ĭata stored in the blockchain can be divided into two parts.
Blockchain technology can be leveraged to use this space as a decentralized storage system. In most cases, half of the storage space is left empty. Data storage in most user devices is seldom at capacity. Instead of storing transaction records, the blocks can contain other forms of content. The idea of decentralized storage of data is an extrapolation of this idea. The Bitcoin whitepaper by Satoshi Nakamoto proposed the idea of having a decentralized ledger being stored simultaneously throughout nodes dispersed across the internet. This method of cloud storage requires the users to place their trust in central data hubs leaving room for malfeasances like censorship, leaks, etc. The server space is leased out in the truncated lease categories by organizations like DropBox, which lease servers from the likes of AWS and provide storage space for end-users. A swift incentive structure and a very simple supply-demand model have incentivized the growth of a multi-billion dollar industry of data storage.Ĭentralized cloud storage platforms are storing data for governments, corporate institutions, intelligence agencies, etc. Initially, users were storing data in cold storage units like a hard drive, USB drives or compact disks but with the advent of cloud storage protocol, things has changed a lot.
Security and integrity of data is a central pain point for institutions under the current market obligations.
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