6 Best Decentralized Cloud Storage Crypto Projects | TechHarry

Decentralized Cloud Storage Blockchain Cryptocurrency

On TechHarry, we have covered the best metaverse crypto coins, the 50 best cryptocurrencies on Binance, etc. But here in this post, we'll see the foundation of all these crypto projects which is storage. Every project needs storage space to store its project data on it.

With the combination of blockchain and cloud storage, organizations are now capable of storing huge amounts of data, transactions, and everything. For this storage purpose, more and more crypto projects are coming into the crypto market. But as you know, every crypto project can be useful. There are some projects that are highly useful and backed by great organizations. That's why we are here to discuss not every decentralized cloud storage crypto project but those crypto projects that have high utility and are backed by big investors in the crypto market. Also, these crypto projects have a huge following and are popular for their utility.

What is a decentralized storage network?

Data is encrypted and stored across several locations, or nodes, that are managed by people or organizations who charge a fee to share their spare disc space. The private encryption key is only accessible by the data's owner; storage providers cannot access the data. Another layer of storage security is often added by sharding the files and dispersing them across other sites.

Blockchain is frequently used in decentralized data storage devices to track storage transactions. A distributed ledger technology called blockchain can automatically synchronize and confirm storage transactions between dispersed nodes. Shard hashes, data locations, rental costs, and other transaction-specific data may be recorded in the blockchain ledger. Blockchain can also connect hosts that provide storage with users that are looking for it.

Best Decentralized Cloud Storage Crypto Projects

Decentralized Cloud Storage Cryptocurrencies are the future of crypto which are also considered Web 3.0 coins. But we have covered the most popular Web 3 coins here

1. Filecoin

Filecoin is a decentralized storage system that aims to "store humanity's most important information". It is an open protocol backed by a blockchain that records contracts made by the network's participants, with transactions made using a Filecoin utility token called FIL. The blockchain is based on both proof-of-replication and proof-of-spacetime.

2. Arweave

Arweave is a decentralized storage network that offers a platform for the storage of data. Describing itself as "a collectively owned hard drive that never forgets", the network primarily hosts "the permaweb" which is a permanent, decentralized web with applications and platforms that are driven by the community. The Arweave network uses a native cryptocurrency called AR to pay the "miners" to indefinitely store the network's information.

3. Siacoin

Siacoin is the utility token of Sia which is a blockchain-based distributed. decentralized cloud storage platform. It acts as a secure, trustless marketplace for cloud storage where users can lease access to their unused storage space. All the agreements and transactions are executed with smart contracts where Siacoin is used to pay for storage on the network. The main purpose of this project is to become the "backbone storage layer of the internet".

4. Ocean Protocol

Ocean Protocol creates a marketplace based on blockchain that links data producers and consumers. Tokenizing datasets and data services is the foundation of its novel business strategy, which enables data providers to quickly and effectively monetize their data while providing users with access to an ecosystem of priceless data in one easy location.

Data providers produce ERC-20 tokens referred to as data tokens that give users access to data and may be bought with OCEAN tokens, the Ocean Protocol's native form of payment that also serves as a mechanism for staking rewards.

5. Storj

Storj is an Ethereum-powered token that is used as a decentralized storage network for developers. It is also known as Storj DCS (Decentralized Cloud Storage). Whenever a user uploads a file to Storj DCS, the file is broken into different pieces and distributed to a global network of independent nodes. When someone requests the file, it is again recompiled securely and made available to download.

It clearly means that anyone can store files on Storj DCS without waiting for approval from the centralized data center. Developers are even allowed to purchase cloud storage services with STORJ tokens. Contributors of the network earn STORJ tokens in return for providing unused hard drive space and bandwidth to the network.

6. Bittorrent

BitTorrent is a popular P2P file sharing and torrent platform that has become very much decentralized in recent years. According to its official literature, BitTorrent is currently the “largest decentralized P2P communications protocol” in the world.