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evo

Site Admin
Joined
Apr 2017
Decentralized storage means there are no central computer to take offline, which addresses the problems typically seen with centralized servers. Let's compare Sia and Storj, two popular cryptocurrency projects focused on decentralized storage solutions.

Sia - Simple Decentralized Storage
Sia's is focused on providing decentralized, incentivized storage, which will compete with centralized storage alternatives (Amazon S3), and is targeting the enterprise sector to provide a fast, reliable, cost efficient service. Sia has chosen not to spend any time towards marketing, so they can focus their energy to building this storage platform. Sia supports smart contracts on the blockchain, incentivizing hosts to store files, therefore the host will continue to get paid even if the client does not access their files. The downside to these contracts are the higher costs.

Storj - Peer to Peer Cloud Storage Network
Storj shares similarities with Sia for decentralizing storage, but it doesn't provide smart contracts on the blockchain - there's currently no method for automating agreements. The Storj model is pay-as-you-go, which means the host won't get paid once the user disappears. Price structures for storage and bandwidth are already in place, and anyone can start using their solutions.

Sia verus Storj

Let's compare Sia versus Storj...

Sia supports on-blockchain smart contracts that require hosts to store files in order to get paid. Once the contract is created, the host is guaranteed to get paid, even if the uploader never accesses the file. This contract also allows Sia to enforce penalties on hosts that go offline or lose data. Storj offers a pay-as-you-go model where hosts are paid with some frequency by the users. If the users disappear or go offline, the host stops getting paid.

Storj is still running test groups, and has not yet implemented a network where you can upload files. Sia does have a working network, and have been quietly designing, implementing, and refining the core Sia codebase. Sia is not interested in promoting a flashy product that does not work or has gaping security vulnerabilities.

One huge difference between the two has to with their implementation of their network. In the event the Storj network was to be taken down, the storage network would crash with it. With the Sia network, should their network be taken offline, their storage network would continue to remain intact and accessible. This is significant, because should a government ever intervene to force a network offline, storage solutions with Sia would remain safe, secure, and online.

Final Thoughts

Sia emphasizes strong engineering and uncompromising technology to build a foundation necessary to be the fastest, most reliable, lowest cost, and most rewarding storage platform. Their primary goal is to build a decentralized, incentivized, byzantine fault-tolerant storage. Their strong focus is on being a product for enterprises. Sia's interest is courting enterprise-level customers who need >100TB of storage, and it's near-ready for enterprise customers.
 

V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
How does one trust decentralized storage?

Where is your data stored?

Who can gain access?

If it's decentralized how do you know where it is or who might gain access to it?

How safe is it?
 

evo

Site Admin
Joined
Apr 2017
Decentralized storage will become a cloud storage platform that cannot be censored or monitored, and will have zero downtime. And security will be achieved through decentralized, end-to-end encrypted cloud storage using blockchain technology and cryptography.

These new decentralized storage technologies are a platform, cryptocurrency, and a suite of decentralized applications allowing you to store your data in a secure, decentralized manner. Your files are encrypted and shredded into smaller pieces - stored in a decentralized network of computers around the globe. Nobody but you will have a complete copy of your data, not even in encrypted form. And all of this will be done on a blockchain with a transaction ledger, public and private key encryption, and cryptographic hash functions for security.

This allows decentralized storage to be faster, cheaper, and much more secure than traditional, centralized, cloud storage platforms. Faster because multiple machines are serving your data simultaneously, cheaper because you're renting people's spare hard drive space versus paying for a data center with high overhead, and more secure because your data is encrypted and shredded. There's no need to trust a corporation for your storage needs and having to worry about you vulnerable servers or employees working with your data.
 
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