April 20th, 2018
Blockchain is a new technological revolution that is taking the world by surprise. Over time, many interesting facts and uses of Blockchain technology are coming to the surface, making it widely popular with businesses and people, alike. Blockchain is quickly becoming a robust, reliable, and secure data storage facility. This secure and immutable data storage model, makes it a tempting idea to store files on the Blockchain. Often individuals or organizations are looking for the safest option to store data, Blockchain seems to be the best platform for this. Currently, the decentralized blockchain technology comes with several options to store data.
Storing Files In The Blockchain
Storing files in a Blockchain is by far the best and most simple option. Most of the decentralized applications work in this manner. But it has a few drawbacks. Transactions to the blockchain take time to confirm. For money transfer, the system may be fast, but for rich application data flow, it’s extremely slow. The blockchain is immutable giving it a secure robustness, but weak a platform for data storage. Users may feel the need to change or replace files, but here you can’t erase the previous file and it can be seen by anyone. Immutability is more like a drawback here. Storing of data in the blockchain is not a good option for rich decentralized applications.
Peer to peer file system
IPFS or InterPlanetary File System is a peer to peer file system that allows the user to share files on systems and unite it all in the global file system. This technology is good and there are several positives attributes associated with it. Users can download the file when necessary, it’s impossible to forge the content.
Decentralized Cloud File Storages
Decentralized cloud storage is another option which can help lift some of the IPFS limitations. These storages are similar to a Dropbox, but the difference is that the content is hosted on user system offering hard drives for rent. Many projects are opting for this data storage option. Simply upload the file and it will be available in the cloud. These storage options are fast, highly reliable and come with huge capacity.
For users who are in need of storing structured data and advanced query capability, the distributed database is a good option. To make database distributed, either availability or consistency needs to be sacrificed. With the distributed database, you get scalable, fast, fault tolerant and very good service. All nodes within the cluster trust each other-a malicious node can destroy the database, which is one of the drawbacks with this option.
BigChainDB is another project which claims to solve the transaction speed and data storage problem. It is a blockchain that comes with fast transactions and an enormous data capacity. With BigChainDB, malicious nodes can destroy the cluster. But BigChainDB team is aware of this problem and they are working to solve the problem quickly. It is important to understand that it is the cornerstone of its architecture, changing it may not be that easy. However, BigChainDB is a good option for private blockchain, but not a good option for public storage.
Ties DB is another option to store data. The only issue with it is that it lacks byzantine fault tolerance. This TiesDB inherits all features from the above options. With all these features it can become a public database and enable feature-rich applications on other blockchain platforms with smart contracts. This database is writable by all users. Users here are identified by a public key and all requests are signed.