The development of blockchain technology not only caused the explosive rise of digital money, it also spurred the creation of blockchain-based decentralized applications that are now reshaping multiple industries. However, like most overnight technologies, these applications are facing many new challenges. One of the most pressing challenges they need to overcome is how to store and manage massive amounts of data.
Right now there are three common solutions to this: utilizing the blockchain itself, employing the services of a centralized database, or using a decentralized storage network. Let’s take a moment to explore all three of these solutions.
Solution One: The blockchain is a distributed account book that can only store a small amount of data and can be used to record transaction information. Every record is synchronized to a certain node. If the data related to an application-specific business is synchronized to a certain node, the whole blockchain will be paralyzed instantly.。
Solution Two:Centralization databases conflict with the concept of blockchain. The current era relies on the concept that data is wealth. Centralized databases are not secure and there have been numerous occasions where their security systems were breached and data was leaked. Data that is stored in centralized databases can be viewed as poorly guarded wealth.Risks of data leakage come not only from hacker attacks, insider sales, etc., but also from materials that service providers use to do artificial intelligence, big data analysis, and so on.
Solution Three: Decentralized storage networks can be combined with blockchain technology in order to provide a more secure, efficient and scalable solution.
The future of data storage is now on a new track that will allow for new players to enter the game and the common perception of data storage to change. Of course, this change will take time since it is taking place in a volatile and risky market. However, the business objectives of companies like ViewChain that are based on both blockchain technology and decentralized storage will drive the growth in this sector.