Understanding Decentralized Storage in Web3 - IPFS, Filecoin, and More
IPFS and Filecoin, together with other decentralized storage solutions, require considerations for the next generation of distributed applications (dApps) in Web3 applications.
Founded on Web3 Decentralized Storage, New Age Technologies Stored in a Decentralized System (Web3 storage) involves many new data storage methods designed to surpass traditional small-scale storage. IPFS and Filecoin meet this shift head on.
IPFS (The InterPlanetary File System), a humdinger of some communities because of its peer-to-peer network distributed system, acts by providing a distributed protocol in which to store or share data. However, the pedestrian experience becomes less impressive for those of the traditional repressive location/location-based addressing systems. This is because IPFS relies on content-addressing, and every piece of content has a unique cryptographic hash linked to it. This means that requests expected to be received can only be the exact content requested, proving data integrity.
Filecoin meets IPFS's paradigm by urging storage providers to allocate their disk space across the network. The Filecoin token is paid by end-users as a way of paying for the storage service and then these coins get paid to these service providers for securely storing the data. This decentralized storage model ensures that most of the failures are scaled and secured by providing the platform at the lowest possible cost.
Other decentralized storage solutions involve permanent data storage (Arweave) and shared encrypted distribution of file fragments via global networks (Storj).
Being perhaps the most valuable asset attached to decentralization in Web3, decentralized storage is an indispensable part of a new infrastructure, where applications might have to store some data and decentralized apps (dApps: for non-technical readers) mine NFTs and record in blockchains. Web3 seeks to replace centralized servers and services with networks that provide users with greater control over their data, resulting in a much more secure and democratic digital environment.
~ Regards,
VEIGO (Community Mod)
Upvoted! Thank you for supporting witness @jswit.
You have explained nicely about decentralised storage which I think is a different topic but worth reading.