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Storing Data In Blockchain

Storj - Decentralized Cloud Storage

Storj - Decentralized Cloud Storage

"Storj is like an Internet filesystem. Data blocks are encrypted and distributed across a globally distributed set of storage nodes using block-chain algorithm. It is quite impressive and much needed innovation in the storage space." "Decentralized file storage systems like Storj have the potential to eliminate high markup costs and market inefficiencies and provide a much higher level of privacy, reliability and quality of service than we see today." "The power of the Storj platform is its unique ability indiscriminately utilize the free capacity of a storage node, whether a single end-user PC or a massive data center. Storj is bringing an unprecedented degree of efficiency to globally distributed data storage." "Storj is a unique market phenomena. It sets new standards of unit economics for distributed data storage." "As a seed investor, we were more than happy to join the next round for Storj with a great line up of co-investors. We want storing files to be cheaper, faster and more secure and the progress the team has made towards that mission has been phenomenal to watch. We are looking forward to putting more and more of our documents on the Blockchain thanks to Storj." Continue reading >>

So, You Want To Use A Blockchain For That? - Coindesk

So, You Want To Use A Blockchain For That? - Coindesk

So, You Want to Use a Blockchain for That? Antony Lewis is abitcoin and blockchain consultant and blogger, who previously served as the director of business development at bitcoin exchangeitBit. In this article, Lewis attempts to break down some of the more misunderstood questions circulating among institutions seeking to adapt distributed blockchain tech for alternative uses. There are good reasons and bad reasons to use blockchains. In conversations with people considering blockchain use cases, I have noticed common confusions arising from certain words. At issue, is that they were initially used in a narrow context (usually to describe bitcoin's blockchain), and are now being interpreted more generically for other blockchains, in cases where they may no longer apply. In this post, I hope to untangle some of these common misconceptions. Bitcoin has specific security features for writing data due to the burden of proof-of-work consensus . That is, in order to add blocks of transactions to the blockchain, you have to validate all the transactions within the block (easy) and then perform repeated calculations (called hashing) to find a magic number that makes your block valid and acceptable to the other participants according to the rules of the network (easy, but computationally expensive, therefore energy intensive, therefore expensive). This proof-of-work burden combined with the longest chain rule makes it expensive to mine your own subversive chain. Private blockchains on the other hand, with known block validators, may have other mechanisms replacing proof-of-work that limit the ability of others to subvert the chain. These rules can specify that blocks need to be signed by a limited, known list of signatories. The round-robin fashion by which entities take it in Continue reading >>

Where Do Decentralized Applications Store Their Data?

Where Do Decentralized Applications Store Their Data?

Where do decentralized applications store their data? Now there is a boom in blockchain projects. Some blockchains are so powerful that they claim to be a platform for building applications on top of them. Applications automatically turn out to be decentralized, resistant to censorship and blocking. But is everything so good and simple? In this article, we will try to look at the blockchain as a platform for applications, taking off the rose-colored glasses. Blockchain (chain of blocks) is an immutable data structure consisting of a list of blocks where each next block contains a hash of the previous block. As a result of this hashing, the chain of blocks becomes unchanged: you can not change or delete a block from the middle of the chain without rebuilding all the blocks above, because the slightest change will require a rebuild (recalculating hashes) of all blocks above the changed one. If the calculation of the hash of each block is computationally or economically complex operation, then the data change in the middle of the chain becomes practically impossible at all. The combination of the new block hash calculation complexity, as well as the ease of checking the correctness of the hash, provides blockchain with a serious resistance to unsanctioned changes. This is what holds the safety of bitcoin and other blockchains. Thanks to this, blockchain projects can be publicly decentralized. That is, anyone can put the working node of the blockchain and generate new blocks. In most implementations of the blockchain for the generation of a block a reward is given - this process is called mining. And since it is difficult to mine, and your results can be easily verified, it is profitable to act only honestly. Otherwise, you will spend resources on mining, and other miners Continue reading >>

Blockchain And The Promise Of Cooperative Cloud Storage

Blockchain And The Promise Of Cooperative Cloud Storage

Blockchain and the promise of cooperative cloud storage Blockchain technology allows distributed retention of encrypted data and is at the heart of cooperative cloud storage Chrome OS: Why it may be time to approach desktop IT in a different way Inside the distros: A year in Linux development How to make the leap from traditional bank to digital bank Given that crypto-currency bitcoin is the poster-child for blockchain technology, its no surprise that much of the blockchain fuss and, indeed, much of the actual blockchain work is focused on payment systems and related areas such as invoicing and tax reporting. Top tips for managing storage in a virtual server environment Get a complete run-through of the main choices in data storage for containers, look at the essentials of virtual server storage and learn about storage performance in virtual server and desktop environments. This email address doesnt appear to be valid. This email address is already registered. Please login . You have exceeded the maximum character limit. Please provide a Corporate E-mail Address. By submitting my Email address I confirm that I have read and accepted the Terms of Use and Declaration of Consent. By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy . Yet blockchain as a technology is far more widely applicable than this. At heart, it is simply a cryptographic method of distributing data and recording transactions. Blockchains power lies not only its heavy encryption, but also its distribution across a chain of co Continue reading >>

Blockchain And Data Storage: The Future Is Decentralized

Blockchain And Data Storage: The Future Is Decentralized

Blockchain and Data Storage: The Future is Decentralized 2017 was the year when blockchain technology burst into the public consciousness. Even beyond the truly startling rise of cryptocurrencies, we became aware of how a range of markets could be transformed by applications built on the technology. But as with any emerging technology that suddenly gains fame and begins to be applied across real-world use cases, issues have emerged around the underlying characteristics of blockchain many of which should be a primary focus of the coming year. Chief among these concerns is scalability. That being said, the existence of these issues serves as a marker of just how far blockchain has come. Tech leaders now posit that it could underpin the next phase of the internet, creating the decentralized world wide web. As we look ahead to this new, decentralized internet, it is important to consider one of its most important elements: decentralized storage. While blockchain is on the rise, its hardly the only technology thats straining existing storage systems. Artificial Intelligence (AI), and particularly the Internet of Things (IoT), are also challenging the current boundaries of storage. Its estimated that there will be over 20 billion connected devices by 2020 , all of which will generate and then require management, storage, and retrieval of enormous amounts of data. Connected devices, combined with consumer personalization apps and the increasing need to share data across business lines, are all playing their part in increasing demand for storage. Businesses wanting to launch new, data-driven applications face a mountain of time, effort and coordination to provision new databases today. This drive towards a richer, more data-centric (and data-heavy) way of working is taking pla Continue reading >>

How Can Blockchain Be Used As A Database To Store Data?

How Can Blockchain Be Used As A Database To Store Data?

How can blockchain be used as a database to store data? Currently decentralized blockchain applications have few options to store data. Decentralized storage options are: Decentralized cloud file storages, such as Storj, Sia, Ethereum Swarm, etc. Distributed Databases, such as Apache Cassandra, Rethink DB, etc. Storing everything in blockchain itself: Storing everything in blockchain is the simplest solution. Currently most of the simple decentralized applications work exactly this way. However, this approach has significant drawbacks. First of all transactions to blockchain are slow to confirm. It may seem to be fast for money transfer (anyone can wait a minute), but it is extremely slow for a rich application data flow. Rich application may require many thousands transactions per second. Secondly, it is immutable. The immutability is the strength of blockchain that gives it high robustness but it is a weakness for a data storage. User may change their profile or replace their photo, still all the previous data will sit in blockchain forever and can be seen by anyone. The immutability results in one more drawback - the capacity. If all the applications would keep their data in blockchain, the blockchain size will grow rapidly, exceeding publicly available hard drive capacity. Full nodes can require special hardware. It may result in dangerous centralization of blockchain. Thats why storing data in blockchain only is not a good option for a rich decentralized application. Peer to peer file system, such as InterPlanetary File System. IPFS allows to share files on client computers and unites them in the global file system. The technology is based on BitTorrent protocol and Distributed Hash Table. There are several good moments. It is really peer to peer - to share anythi Continue reading >>

How Does Data Storage On The Blockchain Work?

How Does Data Storage On The Blockchain Work?

How does data storage on the blockchain work? If I store file chunks in the blocks, I'm causing duplicated blocks all over the networks (I mean, my file's chunks will be in each computer on the blockchain network, So eventually I have many many copies of this file in each block of each computer). On the other hand, If I store reference to the file in the block(for example, the block will hold: Myfile.txt stores in IP: 123.123.123.123 and 11.11.11.11) each computer that has my file, can change it easily. and even If i'm checking whether 123.123.123.123 or 11.11.11.11 (my example above) changed my file, and the answer is "True" (by comparing file's hash before and after storage) , I still don't get my file, and the data storage on blockchain is pointless. So, how does companies like Storj works? how do they store the data on the blockchain? (As I understood, storj store references on the blocks, to 3 computers that holds my file, so how do they avoid my problem which I mentioned above?) Short answer is don't store chunks of files in the blockchain. It's not well-suited for this purpose. Better answer. It helps to consider separate concerns: Smart Contracts. Minimalist data that must be true for all users at all times. Focus is on fidelity, as it's extremely difficult to post false data into a contract that's careful about updates. Distributed Storage of large objects. Swarm, Storj and IPFS are examples of distributed object storage/distributed file system. They use various strategies for smearing out copies and shards across participating nodes, but they are not putting all things in all places at all times. At a very high level, we can consider a combination of these approaches. A distributed storage system can provide resilient storage of a blob, media, or JSON object Continue reading >>

Blockchain: Is It The Future Of Data Storage?

Blockchain: Is It The Future Of Data Storage?

Blockchain: Is it the future of data storage? Blockchain is the number-one trend worldwide. Still, there is a lack of understanding of this technology among regular people, as they are used to considering it from the perspective of cryptocurrency. However, the Blockchain concept goes well beyond the digital currency marketplace and bitcoin exchange . Most of us have heard key phrasessuch as: decentralisation, no third party, autonomous, peer-to-peer. Although, many people do not have a keen insight on how in fact everything actually works. Lets learn the ropes and figure out, whether blockchain is a far-reaching and ambitious concept or a hyped falsehood. Like the Internet, Blockchain technology deals with information, but it takes it to a whole new level. So, from now on, you have to understand that everything can be perceived as information, even money. (For example: Bitcoin, the first of its kind cryptocurrency , in terms of which blockchain was implemented for the first time, is no more than a piece of digital information that has a certain value that you own.) Now, lets try to piece things together and go through the key phrases again. Blockchain is: A technology, on the basis of which a certain network can be designed. This network differs markedly from any other networks we recently had, because... It is decentralized. (For example: any website is hosted on a server, that means it is centralized.) Blockchain network, on the contrary, is allocated among tens or hundreds of thousands devices worldwide that process the network. In this regard... It doesnt require a third party. When it comes to valuable information, a third-party service is, commonly, required to be the guarantor of the security of this information. Due to the fact that blockchain is allocated and Continue reading >>

Forever Isnt Free: The Cost Of Storage On A Blockchain Database

Forever Isnt Free: The Cost Of Storage On A Blockchain Database

Internet Policy Intern at IPDB Foundation. Forever Isnt Free: The Cost of Storage on a Blockchain Database Cloud storage services work as follows: You pay a monthly fee up front for a fixed amount of storage space. During the paid time, you can use any amount of storage space up to that limit. When your paid time expires, you have two choices: pay for another month or your files get deleted. Your cloud provider only keeps your files for as long as you keep paying. Blockchain databases cant work on this model. A blockchain database must store data indefinitely, so the recurring payment model doesnt work. Data storage costs must be paid up front, and must cover not just that month but all the months and years to come. IPDB has developed a sustainable model for the long term storage of data: a one time, up-front payment that covers the cost of indefinite data storage. The payment must be enough to cover the cost of storage and the IPDB Foundations operating expenses. This blog post is a deep dive into the numbers that led to a single per-GB price point the cost of storing data indefinitely in a blockchain database. This kind of analysis has been lacking in the hype around blockchain technology. There are many problems that could be addressed with blockchain technology, but without an understanding of what a blockchain solution will cost, it is impossible to say whether economic efficiencies can be achieved. This post is a first step toward understanding which use cases could truly benefit from the application of blockchains. Before we dive into the model, lets outline some of our underlying assumptions: Conservative predictions: As a general rule, we have tried to keep estimates and assumptions very conservative. We would rather have happy surprises than unhappy surprises Continue reading >>

How Blockchain Will Disrupt Data Storage

How Blockchain Will Disrupt Data Storage

Among many other industries and sectors, Blockchain technology is poised to majorly disrupt data storage and cloud computing in the next few years. Instead of storing files and information on centralized servers such as Google Drive, Dropbox or Amazon S3, platforms like Sia or Storj use Blockchain technology to decentralize data storage by breaking up files into multiple pieces, encrypting and sending them to hard drives located all around the world. Individuals and private businesses can participate by renting out their unused hard drive space and make money. Sia and Storj have launched their own cryptocurrencies (Siacoin, Storjcoin) in order to incentivize usage and to create a market for buying and selling decentralized storage. So what are the main advantages of decentralized cloud service vs. private centralized cloud services offered by Amazon, IBM, Dropbox, etc.? More security & privacy. Decentralized data is also more difficult to attack than centralized data. On a decentralized network, files are broken apart and spread across multiple nodes (with sharding). The files are encrypted with a private key which makes it impossible for the node (participant in the network) to look at your file. Moreover, due to sharding, the files are just a fraction of their original self which render the reading of their content impossible. File loss prevention through redundancy in data (extra copies stored in case of error in storing or transmission of data). Cost reduction due to more efficiency. Blockchain storage costs can reduce the price of cloud computing between 50% -100%. (Storj VS Amazon S3 vs Microsoft Azure, via Storj Website) Increased speed due to servers proximity, scaling effects and fragmentation of data (smaller fragments can be saved and retrieved concurrently) Continue reading >>

How Blockchain Can Be Used To Secure Sensitive Data Storage

How Blockchain Can Be Used To Secure Sensitive Data Storage

How Blockchain Can be Used to Secure Sensitive Data Storage Click to learn more about author Mary Ann Callahan. Data Security is no longer a luxury or an afterthought. With so much of our private, personal, and sensitive information being stored and transmitted online, tight security and privacy are now necessities for everyone. But, just as more of our lives are going online, we are hearing about more data breaches and hacks than ever. Here were going to take a look at how Blockchain technology can improve on current, centralized data security solutions, and help keep us safe and in control. Data is quickly becoming one of the most valuable resources in the world. The list of the top 10 companies by market capitalization is now dominated by data-centric companies like Facebook, Alphabet, Microsoft, Apple, and Amazon. That value means your data, especially your sensitive data, is now a prime target for cyber criminals, and you probably arent as protected as you think. Even giant companies like Anthem , Target Corp, and Home Depot have had major data breaches over the last few years affecting hundreds of millions of people. Clearly, current solutions arent good enough to keep us safe. Cloud services often arent the solution either. As hugely centralized systems, they are more valuable targets still. You also need to trust a 3rd party to store your sensitive data for you, which for many companies often isnt desirable or even legal. A new solution is needed. Blockchain technology has been one of the major technological breakthroughs of this century. Bitcoin, the first Blockchain application, allows a network of users to perform transactions without requiring the trust of anyone on the network, or a third party. Everything is encrypted, and nobody can tamper with the Block Continue reading >>

Github - Binded/blockcast: A Multi-transaction Protocol For Storing Data In The Bitcoin Blockchain.

Github - Binded/blockcast: A Multi-transaction Protocol For Storing Data In The Bitcoin Blockchain.

A multi-transaction protocol for storing data in the Bitcoin blockchain. This protocol is intended for use while developing OP_RETURN based protocols. Mature protocols should switch to a custom OP_RETURN method that uses as few transactions as possible to store data. In the meantime, save yourself from premature optimizations. Wait until you've figured out your protocol's most basic requirements so you don't hold up developing applications that consume your APIs. In our examples we're going to use bitcoinjs-lib to create our wallet. var bitcoin = require("bitcoinjs-lib");var seed = bitcoin.crypto.sha256("test");var wallet = new bitcoin.Wallet(seed, bitcoin.networks.testnet);var address = wallet.generateAddress();var signRawTransaction = function(txHex, cb) { var tx = bitcoin.Transaction.fromHex(txHex); var signedTx = wallet.signWith(tx, [address]); var txid = signedTx.getId(); var signedTxHex = signedTx.toHex(); cb(false, signedTxHex, txid);};var commonWallet = { signRawTransaction: signRawTransaction, address: address} We'll need to provide an instance of a commonBlockchain which will provide functions for getting unspent outputs, propagating a trasnaction, and looking up a transaction by txid. In this example we're using the in memory version that is provided by mem-common-blockchain. var memCommonBlockchain = require("mem-common-blockchain")({ type: "local"});// or local Bitcoin-Qt.app via the JSON-RPCvar RpcClient = require('bitcoind-rpc')var config = { protocol: 'http', user: 'rpcuser', pass: 'rpcpassword', host: '127.0.0.1', port: '18332'}var rpc = new RpcClient(config)var rpcCommonBlockchain = require('rpc-common-blockchain')({ rpc: rpc})// or testnet via blockcyphertestnetCommonBlockchain = require('blockcypher-unofficial')({ network: "testnet"}); blockcast.pos Continue reading >>

How To Use Blockchain To Build A Database Solution

How To Use Blockchain To Build A Database Solution

How to use blockchain to build a database solution Why would you want to use blockchain to build a database solution? And how would you actually do that? BigchainDB has answers. First Wall Street , then the database world. While most people are still trying to wrap their heads around blockchain and its difference from Bitcoin, others are using it in a wide range of domains. Is it hype, a case of having a hammer and seeing problems as nails, or could blockchain actually have a purpose in the database world? BigchainDB 's creators argue there is a reason, and a way, for blockchain and databases to live happily ever after. Blockchain technology, put simply, is a type of digital ledger which records transactions, agreements, contracts and sales. The technology is decentralized, which means that information is stored in computers around the world, and is constantly updated in real-time to reflect changes in stock, sales and accounts by bringing records together into blocks before algorithms 'chain' these data stores together chronologically. Blockchain was introduced by Bitcoin, which despite its oft discussed issues has illustrated a novel set of benefits: decentralized control, where "no one" owns or controls the network; immutability, where written data is "forever" tamper-resistant; and the ability to create and transfer assets on the network, without reliance on a central entity. The initial excitement surrounding Bitcoin stemmed from its use as a token of value, for example as an alternative to government-issued currencies. Now the separation between Bitcoin and the underlying blockchain technology is getting better understood, the scope of the technology itself and its applications are being extended. With this increase in scope, single monolithic blockchain technolo Continue reading >>

Marriage Smart Contract On Ethereum

Marriage Smart Contract On Ethereum

I got the inspiration to make this page because of a tweet from Joseph Lubin after I posted about my 1 year wedding anniversary. I am storing data immutably to the Ethereum blockchain. This is an example of a proof-of-existence application of blockchains that is very important. Blockchains, when properly designed, provide a way to permanently store data with an un-hackable audit trail. On the Ethereum blockchain, users create smart contracts to store and manipulate data. Smart contracts are permanently on the Ethereum blockchain and contain their own storage. Whenever the internal contract storage is changed, the blockchain updates the smart contract data, while still maintaining a history of the previous data. Cool, huh? View smart contract on the Ethereum blockchain Continue reading >>

Storing Data On Blockchain

Storing Data On Blockchain

I am working on a POC where I have to store some data e.g. ID of an object, price, owner and things like that. Is it possible to store such things on Blockchain using smart contracts. And if not what are the ways to use Blockchain to achieve it. (I did some research, and people are using Blockchain in SCM industry. They must have stored these kind of datas). Consider following tutorial from Hyperledger Fabric " Getting Started " pages. Basically you implement requested logic on by leveraging chaincodes , you will have to implement following golang interface: // Chaincode interface must be implemented by all chaincodes. The fabric runs// the transactions by calling these functions as specified.type Chaincode interface { // Init is called during Instantiate transaction after the chaincode container // has been established for the first time, allowing the chaincode to // initialize its internal data Init(stub ChaincodeStubInterface) pb.Response // Invoke is called to update or query the ledger in a proposal transaction. // Updated state variables are not committed to the ledger until the // transaction is committed. Invoke(stub ChaincodeStubInterface) pb.Response} type myStoreChaincode struct {}func (cc *myStoreChaincode) Init(stub ChaincodeStubInterface) pb.Response { return shim.Success(nil)}func (cc *myStoreChaincode) Invoke(stub ChaincodeStubInterface) pb.Response { action, params = stub.GetFunctionAndParameters() if action == "storeItem" { cc.StoreItem(stub, params) } // Handle here other cases and possible parameters combinations return shim.Success(nil)}func (cc *myStoreChaincode) StoreItem(stub ChaincodeStubInterface, params []string) { // Store item on ledger, where params[0] is a key and params[1] actual value stub.PutState(params[0], params[1])} This is only a Continue reading >>

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