Blockchain Cloud Storage: Advantages and Differences Explained

This article explores the use of blockchain technology in cloud storage, highlighting the differences between blockchain and traditional cloud storage techniques. It also outlines the advantages of blockchain cloud storage compared to its traditional counterpart.

What is Blockchain Cloud Storage?

Introduction:

Blockchain technology leverages peer-to-peer networking. Anyone can join the network, and there’s no central authority managing it. Instead, it’s operated by individuals known as “miners.” We often hear about digital currencies, cryptocurrencies, and Bitcoin, all of which rely on blockchain technology. For example, the value of Bitcoin was approximately INR 377,637 at the time of this writing.

Figure 1: How Blockchain Works

Figure 1 illustrates the workings of blockchain technology. Blockchain validates transactions through a distributed network, creating a permanent, verified, and unalterable ledger of information.

• Each block in the blockchain stores transaction data, its hash code, and the previous block’s hash code.
• When a new block is created, it’s validated by a majority of peers or miners on the network.
• If anyone attempts to modify the data in one block, the entire blockchain becomes invalidated.
• This makes it extremely difficult for anyone to alter any of the attached blocks, ensuring the security and management of the blockchain.
• Furthermore, all data within the blockchain is encrypted for added security.

Difference Between Blockchain and Cloud Storage for Data Storage

The following sections explain the basics of traditional cloud storage and blockchain cloud storage, along with the benefits of each method.

Traditional Cloud Storage

• Familiar examples of traditional cloud storage include Google Drive and Dropbox. These services allow users to store data online and access it from anywhere at any time.
• Individuals and government agencies alike are leveraging the benefits of public and private clouds to store, manage, and manipulate data.
• All data stored in the cloud is encrypted, and cloud services are typically offered with Service Level Agreements (SLAs) covering data integrity and privacy.
• Many small businesses have migrated their entire data centers to the cloud due to benefits like elasticity, load balancing, redundancy, availability, and integrity.
• The cloud storage market is dominated by providers like Google, Amazon, and Microsoft. Companies like Samsung and Apple also offer cloud services (Samsung Cloud and iCloud, respectively).

Blockchain Cloud Storage

• Unlike traditional cloud storage, blockchain data storage solutions break user data into smaller chunks. It then adds an additional layer of security and distributes it throughout the network. This is achieved through hashing functions, public/private key encryption, and transaction ledgers. Each data chunk is stored in a decentralized location.
• If someone tries to hack the system, they’ll encounter encrypted data first. Then, they’ll only get a chunk of the data, not the entire file or block. This strengthens the security of documents stored using blockchain cloud storage.
• The owner’s identity is hidden in blockchain data storage as nodes do not store the owner’s data. Participants (miners) only receive a chunk of data, protecting sensitive information from other miners.
• Data redundancy and load balancing techniques are used for high availability and faster access.
• When a miner attempts to fetch or access data, all data chunks are validated first. If any alteration is detected, the miner who altered it is removed from the network, and the altered part is replaced with a redundant copy. This ensures that all users receive original and identical copies of the data.