How Ripe Time Is It For Companies To Go Decentralized Data Storage?
The need for centralized data storage is disappearing with the exponential growth of data and technology. Decentralized data storage will allow a company to overcome this problem.
Decentralized Data Storage: Benefits and Disadvantages, what you should know before going decentralized, What decentralized data storage is.
The benefits of going for a decentralized system over a centralized one are that it’s more secure, transparent, cost-effective and scalable. The disadvantages are such as the system’s inherent complexity and network latency, as well as the need for a consensus mechanism to reach agreement among all participants.
It is time for companies to go for decentralized data storage. Experts believe that centralized storage will be replaced by newer models of decentralized systems and storage by 2020. These decentralized networks consist of peers which store data and share it with each other. Many people consider it as the future of cloud computing, although some feel that this kind of system lacks security and overall effectiveness.
To know how it works, we need to understand the definition of decentralized data storage. This is a model used by many developers and companies to store data or information regarding transactions, communications and other such activities. The main feature of this model is that the information is stored on different computers which are present in one network. None of these computers can control or regulate any activity that takes place among the participants.
Benefits:
• It is more secure than centralized systems: When you use a decentralized system for storage, your data is distributed among different computers. These computers are located in different geographical areas and not under one central server which makes it more secure than a centralized system.
• It’s cheaper than centralized systems: A decentralized system reduces the cost of data storage. When your data is stored in different computers, you pay for the bandwidth to send information among these computers. The bandwidth cost will be much less when you use a decentralized system rather than a central storage system.
• It is more secure than centralized systems: For security purposes, your data should be distributed over different computers. This increases the security of the whole system against hacking attacks and other malicious actions taking place in this network. Data at several locations cannot be hacked because it needs to be accessed by several people before being taken offline or online.
• It is scalable: Scalability is one of the main advantages of decentralized systems. When you use this system, you can scale up depending on your needs without having to reconfigure anything. The computers which contain the data will communicate with one another to ensure that other computers do not go down or get too overloaded.
Disadvantages:
• Latency issues: When you use this type of system, there will be some delay in accessing information because it is located in different computers. This could be very frustrating when you need quick access to particular information. This problem may be limited when you’re using a limited number of computers compared to using a centralized system with several servers.
• Need for consensus mechanism: This system is prone to congestion when too many people try to access information at the same time. This requires the use of a consensus mechanism in order to ensure that there is no congestion.
There are many questions surrounding this system which have not been answered yet. For example, who will be responsible for maintaining this system? Will there be a central authority which will regulate activities in this network? Also, what will happen if someone tries to hack into one of these computers or tries to take down a particular computer from the network? We may have all the answers by 2020.
Conclusion :
As we have seen, decentralized data storage has its benefits and disadvantages. It is an attractive option for many companies who want to cut costs and enhance security and scalability in the cloud. It is in the interest of companies and developers to develop and implement this system, in order to increase efficiency and reduce costs in the long run.
