Web3 is a decentralized system powered by blockchain technology replacing the centralized system completely and removing the central authority. The young generation is taking over the traditional system and bringing a change to the existing system to make the digital space better than ever before. The adoption of web3 is improving each day with many new ideas being emerged in the digital space.
The development and launch of Web3 applications are increasing every year and in 2024 web3 will add billions to its market. There are tons of web3 platforms at present and some of them are changing today's scenario like web3 browsers, web3 social media, web3 messaging applications, and more. One of them in this list is the Web3 storage system which is focused on the storage of digital assets and data safely in the digital space.
Web3 Storage brings blockchain technology to the storage system which is based on the InterPlanetary File System (IPFS) protocol. The storage files and other data in web3 are stored with the best-secured layer than any other storage system at present. With the growing number of users for cloud storage and maintenance it's becoming impossible to set up a storage system for the future.
The overall data storage and processing of those old data have been increasing exponentially over the years, the present system will not be able to handle this huge data and that’s where web3 is gonna take its role in storage. Web3 gives the whole control to the users under a decentralized network and the data are stored in numerous nodes instead of a single server this changes the whole present scenario in storage. Let’s see a details view of how web3 storage works in the follow-ups.
The web3 storage is a decentralized storage that works basically over the blockchain network. The data over web3 storage are stored in the nodes, in simple words nodes are generally a computer system that stores the copy of every information. These nodes are the important players in web3 storage and the data are transferred as a peer-to-peer network with the help of the nodes.
Blockchain is responsible for every action that takes place in the storage system from data sending data, retrieving data, and managing the data for future use. Multiple nodes form a block and these blocks are connected with other blocks as a chain with the help of the cryptographic hash of the previous block forming a complete blockchain. Once the data is taken to the blockchain the data cannot be deleted or modified.
The present traditional storage system focuses majorly on storing the data and helps to share those data through online platforms but misses out on focusing on the data threats and other security for digital assets in the storage. The centralized storage is easy to hack and it can’t handle huge amounts of data so to compete with the future market it is a must to make the web storage system better. This can be achieved with the help of the implementation of blockchain into the storage system.
The centralized network is censored and it needs permission of the users to store the data but all these depend on the central authority and the third person has the chance to access the data. Also, other problems like policy changes, hardware failure, and missing data due to technical glitch issues can affect the data on a huge scale.
Web3 storage brings lots of benefits to the users and completely transforms the existing system with its new infrastructure powered by the blockchain. Here are a few benefits that tops the list
Censor - Web3 does not rely on any of the censor policies which lets the users share or store any of the content in the web3 storage system and this makes it harder for big names to control specific content.
Data History - The data cannot be deleted or modified from the blockchain network once stored, only the data can be transferred which provides the history of the data the person transferred the history of the file, and how many times they have transferred.
Performance - Web3 is based on the IPFS protocol which transfers the data much faster than any other present storage platform. The data are stored in multiple nodes and the data is transferred from the nearest node which makes it quicker.
Decentralized - The storage system and the whole operation are carried over the decentralized network making it the most advanced way to transfer data and the whole process is peer-to-peer making it more secure.
Distributed Hosting - The IPFS would replace the present hosting setup with its advanced functionality making the websites and applications perform better and which makes the system robust against any attacks and server failures.
No Central Authority - All the process in the system runs with the help of the pre-programmed smart contracts removing the participation of any of the central authority to make the process completely run under a decentralized network.
As per a report the global data generation grew from 2 ZB in 2010 to 79 ZB last year. The whole world is moving towards digitalization in every industry from Education to Healthcare which produces huge data and all that data has to be structured and stored. With the growing usage of IoT, VR, AR, Electric Applications, and other devices are generating huge data every second which has to be stored for future use.
The scenario is completely different from past periods the usage of the internet was only 3 million in the '90s but now the evolution of the web from web1 to web3 has brought more users which approximates 5.3 billion people. This shows how much data would be roaming around the globe in the digital space. As the years go by with the increase in users, the storage system sees evolution from a simple tape, floppy disk to cloud storage over the years and now the world is working on web3 storage for the betterment of the storage system.
Maticz is one of the leading Web3 companies from India offering numerous Web3 development services to clients around the globe based on their requirements. With the young talented team of web3 experts, Maticz has successfully developed and launched more than 200+ projects in the digital space in the last 3 years. With the growing web3 trend Maticz is taking its role to take the web space to the next level with the help of Web3.
We have been working with multiple industries since our journey from startups to enterprises, helping them transform their existing tech with web3 and increasing the adoption of web3 because of the benefits and features web3 holds. Want to transform your business get connected with our experts and transform your business infrastructure with web3 solutions.
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