Is Blockchain Technology Really the Answer to Decentralized Storage?

Is #Blockchain Technology Really the Answer to Decentralized Storage?  (Coin Telegraph)

  • Nevertheless, several projects and companies insist on looking at Blockchain-based solutions for storage and, while there are clear cases of misguided enthusiasm when it comes to the use of Blockchain technology, there are some projects out there that are worth taking a look at.
  • When it comes to a mutualistic relation between Decentralized Ledger Technology (DLT) and data storage, the most common use case for the Blockchain is as an incentive layer.
  • This means that data isn’t stored on the Blockchain itself, but the network at hand is able to leverage the Blockchain as a ledger for automatic payments and/or for value exchange, enabling users to pay for storage or access to files.
  • While Filecoin and Storj focus on providing affordable cloud storage services, a project named Decent is currently working on a decentralized content sharing platform which allows users to upload and monetize/share their work (videos, music, ebooks, etc) without the need to rely on a centralized third party.
  • We are talking about Sigwo Technologies LLC, a company that focuses on providing dApps and consulting services for legacy businesses that want to integrate Blockchain technology for data storage and disaster recovery.

Blockchain is extraordinary technology, but may not be appropriate for storing large files, other data.
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How blockchain can create the world’s biggest supercomputer

How #blockchain can create the worlds biggest supercomputer

  • How blockchain can create the world’s biggest supercomputer
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As our desktop computers, laptops, mobile devices, etc. stand idly by for a huge portion of the day, the need for computing resources is growing at a fast pace. Large IoT ecosystems, machine learning and deep learning algorithms and other sophisticated solutions being deployed in every domain and industry are raising the demand for stronger cloud servers and more bandwidth to address the minute needs of enterprises and businesses. Blockchain, the distributed ledger that’s gaining traction across various domains, might have the answer to the dilemma by providing a platform that enables participants to lend and borrow computing resources — and make money in the process. “There is a growing demand for computing power from industries and scientific communities to run large applications and process huge volumes of data,” says Gilles Fedak, co-founder of iEx.ec, a distributed cloud computing platform.
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