With Blockchain, Decentralization & Data Security Are The Future

It is now the era of digitalization. The photographs we once we printed & stored in photo albums are generally no longer printed we tend to store them in online albums. There is hardly anyone who now uses physical paper planners to keep track of their lives. Instead everyone stores the daily reminders and appointments in the digital calendars.

The number of people who maintain handwritten ledgers to track their bank accounts has also dropped down considerably. There are multiple apps and websites that are available, which help in organizing data and also give easy access.

Also companies across multiple industries are storing all of their files and data digitally. From financial records to personnel files, digital networks are storing companies' internal data. The data companies collect from customers is often stored this way, as well.

However good this may sound we cannot neglect the fact that with such exposure to digitalization we are more vulnerable to security breaches. And, in addition to the risk that we might be hacked, when we store everything on computers, we face the possibility that one of those digital networks we're using will go down.

Security breaches and outages are a concern for many who have turned to digital storage. But the good news is that technological innovation is the savior.

The Blockchain Technology

Blockchain technology is a digital ledger which stores data blocks that are highly encrypted. This technology has begun to decentralize data, and the innovation it represents could well be the future of data storage. Businesses that have switched to blockchain are already experiencing the benefits. The main reason and benefit is the fact that it’s easier to maintain the privacy and security of files and data on a decentralized network than a centralized one.

Blockchain vs. data servers

Blockchain technology is more secure than cloud computing. The cryptography that makes up the Blockchain design was actually shaped for the purpose of addressing the security concerns associated with digital products, like cloud networks. Since Blockchain is a decentralized network spread out across computers in different locations, there is no single point of flaw susceptible to security breaches. Security has been built into blockchain technology, making it usual.

Decentralized storage also causes drastic reductions in pricing, so that any company, not just the largest ones, can leverage the technology. With Blockchain-based data storage, small scale companies don’t have to spend money and resources to build the infrastructure to hold data and files. These companies can pay only for the amount of data storage they need.

As companies begin to completely rely on digital data storage, round-the-clock access to this digital infrastructure is important. Decentralizing data will limit the weaknesses found in typical cloud storage networks and ensure these systems are safe from attack.

This advancement has brought security to the data along with ease of accessibility and hence blockchain technology and decentralization is the future of technology.

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