It won’t be wrong to claim that Blockchain is the new superhero of digital data safety and security. In times when most of us rely on a digital platform for data exchange and transaction. Choosing the right and trustworthy platform remains a key area of concern. The rising number of data breach cases and security threats can make the use of digital medium a challenging task. But with Blockchain, we are going to have a solution. Let’s explore this ahead in the blog.
Using Blockchain for data storage:
While we may now know that Blockchain finds a multitude of use cases, the fact of the matter is that this technology is known for financial transactions. Hence, companies are actively hiring Blockchain experts who can help create a far safer and secure platform. Let’s understand how Blockchain assures this safety and security.
How to store Blockchain for data storage?
Even if you have rudimentary knowledge about Blockchain, you would know that it is the most trustworthy and secure digital data storage platform. So, how does all this really happen? Let’s see how does this happen at the backend:
There are two ways of storing data on Blockchain:
In the on-chain method, the data is stored inside each of the blocks. Hence, if there is an attachment to the data, then it can be restored and used. This is an effective way, but it is a more costly way to store the data. And hence most of the companies are now opting for the off-chain method.
In off-chain storage, the entire data is not stored, but only the metadata is stored. But this comes with a certain disadvantage as you cannot store the entire data. Also, if there is any breach in the system, the data that gets damaged cannot be restored. However, it is cost-efficient, making it a more popular option.
Interplanetary File System: This system uses BitTorrent protocol, wherein the data is broken up into a different stand, and then it is stored in multiple instances. It is a peer-to-peer solution, and based on the need; the user can download this data.
Decentralized Cloud Storages: The dropbox that most of us use works on this principle. The data doesn’t get loaded on the server of the computer. Rather, it is stored on the device of the renters. One needs to be online to use this.
These were some of the ways Blockchain is aiding data storage. But where we would like to emphasize that this data storage is still evolving. Since Blockchain is a new technology, it holds great prospects of growth and improvisation. But in the present context, Blockchain is certainly the best platform for data storage.
In the times to come, we will witness a rise in the use of Blockchain, and hence the demand for Blockchain developers is going to increase. If you also wish to be a part of this growing technology, you must connect with the Blockchain Council today.