I have been using google cloud storage to store my iPhone contacts and iCloud to store my photos and files, recently there were hacks of data in iCloud storages and the statistic of the iCloud hack shows that my data is not safe. This is the problem of centralized servers.
There is a demand of cloud storage and the market has been growing and estimated to reach a staggering $88 Billion in 2022 up from $30.7 billion in 2017, this statistic will be driven by demand of cloud storage by the internet of things devices which require efficient, low costs and high reliability data storage services. Personally, I no longer use hard disks to store my files and as my data grows I will demand more cloud storage and this is the case with many individuals.
The problem is with the currency problems experienced in centralized cloud storages is that we cannot rely on their security, costs, and mobility because they are controlled by organizations which are more concerned with profitability instead of their investor's capital. We now have decentralized cloud storages that are controlled by the community. Decentralized cloud storages are also less costly and due to the decentralized nature of storage, they offer more security than centralized data storages.
One of the projects using blockchain technology to tap the vast market by adding the missing features in decentralized cloud storages is MODULE, the project plans to use blockchain 4.0 technology that is more scalable and reliable than blockchain 2.0 the previous generation of blockchains.
Using MODULE cloud storages users like me will be able to access online data storage services and be able to use our internet of things devices including data storages we might have and share them with our neighbors in need of the services at a small fee, this will create a mutual relationship in a sharing economy. MODULE will be able to tokenize its economy to allow autonomous payments of services in cryptocurrency in a peer to peer decentralized environment and managed by Blockchain technology.
The module platform will be powered by blockchain 4.0 which I'm going to cover below and highlight its advantages over Blockchain 2.0.
MODULE 4.0 Blockchain.
The module is a blockchain 4.0 based cloud storage service platform that leverages and monetized unused storage on small portable devices such as mobiles phones and IoT devices. The module blockchain allows anyone with free storage on their portable devices to be able to engage in Module business operations.
Current Challenges with centralized cloud storage's and the state of cloud storage market.
The current market is saturated with centralized cloud storage service providers such as google drive, Dropbox and iCloud who control the majority of cloud storage markets. Centralized nature of cloud storages has its own disadvantages in that it's highly commercialized by the institutions that have monopolized the market, it's also not secure enough because of the centralized nature of storage servers which are highly susceptible to hacking and exploits. MODULE decentralized cloud storage solves these problems through decentralization by using blockchain 4.0 which is highly scalable and secure by encrypting files using cryptography and storing them on chains.
The current blockchain 2.0 has been having challenges with scalability issues, governance problems, and complexity requiring vast computing resources. Blockchain 4.0 is different and can be easily be used in small portable devices because it requires minimum computing power and is highly scalable compared to blockchain 2.0
There is demand for global cloud storage's, we are currently in the digital revolutions which will be supported by the Internet of Things, Business and governments will also need improved cloud storage's and I believe MODULE has its eyes set-up for the future of cloud storage supply services using a peer to peer services.
With Module platform, we will be able to rent our surplus storage on our mobile phones, Blow I will explain the advantage of module platform.
Advantage of Module Platform.
Module platform will allow users to rent their surplus storage's on their portable devices, the operation process is fast and requires less computation power thanks to blockchain 4.0.
Module has provided the infrastructure needed to allow individuals engage in peer to peer renting of storage's through their mobile phones, users will be able to commercialize their surplus storage's and customize their application layers which will be supported by Module core framework.
Businesses and individuals will no longer spend high amounts of money buying cloud storage servers, they will save on costs by buying cheap surplus cloud storage's available in the market. The cloud storage service provided by Module thanks to blockchain technology has secure Technology where data is encrypted using cryptography and cannot be hacked.
Conclusions.
Decentralized cloud storage services have more advantages over centralized cloud storage services such as drobox, iCloud and Amazon.
Module is a game changer in the distributed cloud storage where it has introduced blockchain 4.0 that allows cloud storage through portable storage devices such as mobile phones that require less computation power. This will provide a balance between the supply and demand needed for cloud storage and will help fill the gap in the market.
Module has its own tokenized economy allowing users to use MODULE tokens (MODL) for payment in a peer to peer environment which is the missing piece in peer to peer market.
References.
For more information, please visit:
Website: https://modltoken.io/
Whitepaper: https://modltoken.io/doc/whitepaper_en.pdf
One Pager: https://modltoken.io/doc/onepager_en.pdf
Facebook: https://web.facebook.com/moduleproject/?_rdc=1&_rdr
Twitter: https://twitter.com/MODULE_Project
Telegram: https://t.me/module_project
LinkedIn: https://www.linkedin.com/company/module-project/
All Images credited to Module Official Website
Author: jamesndungu1
BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1856049
