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Blockchain for Mass Data Storage

market space ICO | market space data storage | decentralised data storage | blockchain based data storage

Technological change has undoubtedly markedly changed our quality of life. Nonetheless, it also creates new problems and poses new questions, the answers to which humanity has yet to find. Right now our reality is rapidly shifting to the digital space: our communications, our payments and purchases, education, and work are all virtual. Digital authentication has become the norm. This has all created a central problem that humanity has to solve in the near future: data security.  That includes government, commercial, and personal data. Everyone remembers the notorious leaks of personal photos of celebrities from cloud storage and of Gmail user data, and the uproar around vulnerabilities in Amazon’s data storage centers, which significantly impacted the company’s market value.

While governments look for ways to protect classified data by creating their own alternative, highly secure infrastructure (which may itself be questionable), individual users and businesses can only use ready-made solutions available on the market, which leave something to be desired, as the examples above show. Now new solutions are appearing. Proof of this can be seen both in the development of the sector creating business data protection systems and in the popularity of anonymization services among individual users around the world.

“I have always advocated for user freedom and right to privacy,” says Alexander Rakhmanov, founder of the next generation decentralized data storage service Market.space.

“I have been observing the data storage market for many years. In the beginning there was cumbersome local infrastructure requiring expensive expertise and regular backups. Then came cloud storage, which was more flexible and accessible. But now, as we’re seeing systematic data leaks from cloud storage and running into cloud services using their user’s data and trying to monetize it, it has become apparent that we need a different model for securing digital information. Decentralizing storage services offers a wonderful solution.”

This is not a new idea: there already several projects on the market with decentralized data storage. Their essence is to create a distributed network of personal computers where data is stored randomly using the disk space of network participants, average users with devices not suited to high loads or round-the-clock operation. This is why, unsurprisingly, the problem of data protection comes up again. What if the disk where your data is stored is physically damaged? Or what if it’s simply inaccessible when you need it? Meanwhile, backing up data affects the cost of services and complicates the system itself.

Here is a short video about the project:

“The principle underpinning these decentralized storage systems is using normal consumer devices, like your laptop or mine.   Entrusting valuable information to users not bound by any obligations, whose devices could break down at any moment, seems more than risky. That was how we got the idea to create distributed self-regulating system where professional hosting providers could offer their services. I needed like-minded enthusiasts, and I was lucky to find them,” says Rakhmanov.

With their support, Alexander began developing the Market.space project. This is a universal platform for storing, transferring, and directly distributing data, implemented using distributed ledger technology. The service acts as an aggregator of hosting providers, to whose services clients then have direct access. This approach ensures, on one hand, a secure infrastructure for data storage from professional providers with various security and backup systems and, on the other hand, that very decentralization and encryption that allows for never-before-seen reliability of storage to be achieved. Market.space is oriented primarily toward corporate clients. The providers in the Market.space system are exclusively professional hosting providers, which ensures much safer, more reliable, and simultaneously accessible data storage compared with competitors.

“The Market.space system is designed as a zero-knowledge system. This means that only the data sender and recipient have complete access to the uploaded files,” Alexander Rakhmanov stresses. “This guarantees security in the system: the probability that the files could be compromised, altered, or stolen trends toward zero.”

The operations of the Market.space platform do not require outside regulation. The founding principle is that of the marketplace, a market of requests and offers, which allows customers to choose the most advantageous hosting offer based on the cost of their services and ratings.

This marks blockchain’s arrival on the data storage scene. The Market.space project is currently actively seeking investors to develop ideas and we are sure it will find plenty of people who believe in the future of this technology.

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology,Cryptocurrencies and upcoming ICO’s.

 

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