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Filecoin-based decentralized storage for Web3 Protocol Labs is mostly known for developing the InterPlanetary File System (IPFS) , a free-to-use decentralized and distributed peer-to-peer file sharing system for storing and accessing files, websites, applications, and other data. Their next most well-known project is Filecoin, essentially an incentive layer for IPFS that allows those with extra unused storage space to contribute it to the Filecoin network and be rewarded with the blockchain’s native cryptocurrency utility token, FIL. Additionally, clients who wish to store or retrieve their data from the Filecoin network enter storage agreement deals with these providers and pay for their transactions with FIL. To help with the emerging NFT space, Protocol Labs has also created NFT.Storage, a free storage platform for safely and securely hosting off-chain NFT data such as metadata, images, and other assets using IPFS and Filecoin. This article, however, will be fo...

Investing in Storage-Based Crypto? Is Investing in Storage-Based Crypto Worth It: Storage-based cryptocurrencies are unique digital assets in that they are used for transactions in a relatively new kind of cloud storage system: decentralized, block chain-powered peer-to-peer networks that allow files to be uploaded and downloaded with a high degree of reliability, security, and accessibility. Of all the decentralized cloud storage networks out there, arguably the most popular are the InterPlanetary File System (IPFS), Filecoin (which runs off of IPFS), Storj, and Sia . The forward-thinking pioneers who have put their resources together to create these projects strongly believe that they can compete with (or even help improve) the current tech giants that are dominating the cloud storage space today – Amazon, Microsoft, and Google. While they are relatively small for the time being, these networks have plenty of room for growth as the Internet’s data storage needs cont...

What Are the Benefits of Using Blockchains to Store Data? Using Blockchain technology to store Data allows for a wide array of uses across multiple sectors including but not limited to supply chain management, digital identification, data sharing, voting, tax compliance, medical records, Internet of Things (IoT) management, and more. Many businesses are already utilizing blockchain technology in their day-to-day operations which have helped to increase productivity and transparency, and the technology will only continue to advance as time goes on. So what is a blockchain and how can they be used as a database to store data? Simply put, a blockchain is a decentralized and immutable (not changeable) digital distributed ledger secured via cryptography that acts as a database, permanently storing records of information. Whatever a blockchain’s purpose may be, it is comprised of groups of data that are packaged into blocks which are then chained together. There are a fe...

Blockchain Applications in Enterprise Storage Blockchains are most well-known for their use in cryptocurrencies (primarily Bitcoin and Ethereum), but the possibilities for blockchain technology are virtually endless, reaching far beyond just the realm of crypto. In this article, we’ll be taking a dive into enterprise storage and how blockchain technology can be applied to large-scale storage systems. SearchStorage defines enterprise storage as “a centralized repository for business information that provides common data management, protection and data sharing functions through connections to computer systems”. They’re a crucial part of any large business, making it possible to manage, protect, and share all their precious data. However, they’re also expensive to set up, costly to maintain, require lots of room, and are susceptible to cyberattacks and data breaches. For this reason, many companies have instead turned to cloud storage solutions, that is, storage capacity...

Storing Passwords and Files in a Decentralized Way When dealing with private digital information such as passwords or other important files, it’s always beneficial to be aware of some best practices when it comes to safely and securely storing them in such a way that they cannot be accessed by any unauthorized or unwanted users. In this article, we’ll be touching upon several methods you can use to keep your sensitive data away from prying eyes. Password Basics: Let’s face it. It’s not easy coming up with a good, strong, memorable password. Oftentimes it’s much easier to just reuse the same password you’ve had for years over and over across all your different accounts. This, however, leaves you vulnerable to widespread damage if someone were to get ahold of your “universal” password. That’s why it’s always better to use unique passwords for different accounts. When coming up with a secure password, you’ll always want to avoid simple words, phrases, or number sequence...

Companies Currently Use Blockchains Technology? We've compiled a list of 37 Companies Currently use Blockchains, fascinating blockchain-related examples from companies in the United States. While some are purely blockchain businesses, others are well-known brands that have embraced the new technology. When people talk of the value of cryptocurrencies and other digital assets, they are really referring to the underlying blockchain technology that makes that cryptocurrency or asset possible in the first place. Without blockchain technology, Bitcoin and other altcoins would not be possible. And it’s not just the crypto world that has embraced the distributed ledger technology of blockchain. According to a survey from Blockdata, 81 of the world’s top 100 companies by market capitalization are either experimenting with blockchain technology or have a fully functioning live product. It should be noted, however, that the majority of these companies are using centralize...

Will Cryptocurrency Put Central Banks Out of Business? Will Cryptocurrency Destroy Central Banks: Cryptocurrency’s most important financial innovation is undoubtedly its decentralized and trustless blockchain technology. Using such technology, cryptocurrencies allow individuals to make monetary transactions over the Internet without the need for a trusted third party. Before cryptocurrency, the only way to make anonymous transactions was in cash. In its early days, Bitcoin was highly attractive to criminals making online black-market transactions. By paying with Bitcoin, there was no need to carry a suspicious amount of cash in public. Now, the wider public sees paying with crypto as a means to avoid costly fees (as in the case of remittances), to ensure payment privacy, and as a way to make digital payments without a bank account, debit, or credit card. They also see crypto as a useful hedge against inflation. The role of central banks Central banks control a countr...