Holding information and data on a computer, drive or even the cloud for the matter are all ways of storing your data in a centralized fashion, and the greater limitation is that typically only that person can access that data in that specific location. Imagine if that data gets lost or even natural disasters such as fire, theft, or just general human error such as items being misplaced, this present a lot of risks. Think of how many individuals misplace their bitcoin private keys and can’t access them years later.
In the first version of the web, the term “storing information in the cloud” has become the new cliché when it comes to data storage. IT’s attractive because you can access it anywhere and it removes the need of keeping cumbersome hardware in a local area. Even better when the information is on the cloud, it can be accessed by various persons on your team, and we haven’t even discussed the economics yet, when cloud storage is purchased in bulk, there are great economies to scale. This all makes perfect sense right? Absolutely, but how can we improve even further on this? DXchain provides a the next generation of this idea by decentralizing not only the storage component by also the compute component as well. So imagine a world where you can deploy applications ad hoc for the absolute cheapest price possible and scale to infinity; it’s because it takes unused compute supply as well as storage space and puts it to use and programmatically does it in a decentralized fashion that also prevents hackers from accessing the info from a single point of attack. This creates the most elegant and efficient solution that we’ve seen in human history when it comes to addressing these two needs and will become the foundation for what are smart cities and proper IOT application.
Again, to address the current cloud that we use today in services such as AWS (Amazon), the current issue is single point of attack, and since they’re online 24/7, that makes them a ripe target for attackers. When it comes to sensitive data, this causes a whole host of issues as company’s are always at risk. In the off chance that something goes wrong with data stored on cloud storage, the individual who was affected may blame the hosting provider, however looking at this from a holistic view, it’s actually more of a systemic issue, it’s a problem of centralization. Let’s take a look at one of the most inconic examples with kimdotcom and his megafamous site Mega Upload. It got seized with its domain and not long after, all of its owners were charged with criminal offenses and all of its assets were frozen by the Hong Kong government. This case to this day remains one of notoriety since it represents the powers of centralized governemnts in pertinence to a centralized system (MegaUpload). In the end, even though MegaUpload was just trying to provide end to end encrypted file hosting, it made it extremely easy for a powerful organization to shut the operation down in its entirety. These are lessons to be learned from history.
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