Filecoin and the Future of Decentralized Cloud Storage

Research Overview

Author: Anthony D. Williams
Release Date: February 10, 2022

Abstract:

Filecoin is a decentralized protocol that anyone can download to rent out spare storage space on their computer. An alternative to traditional cloud storage, the Filecoin blockchain-based storage solution leverages a peer-to-peer architecture, creating massively scalable storage capacity without building massive new infrastructure. Instead of entrusting one company to store and protect valuable digital assets and documents in a single jurisdiction, customers can split up and store their assets on different computers around the world. The low barriers to entry and the economic rewards for miners make for ample supply of storage, keeping fees quite attractive; and the dispersion of files makes them difficult to hack, seize, or take down. This research walks executives through enterprise use cases and the benefits of participating in decentralized storage networks.

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