Big Data is no longer a buzzword, it is a norm. The production rate of our digital footprints is growing at astonishing rate and it lends us a new perspective on business, science, and technology. Our ability to make sense of the expanding data universe is capped by the capacity to store data and the computing power to analyze them. Computing power is a valuable resource. Since the dawn of internet, the dream of building super computers on the global network led to numerous successful and failed experimentations.
Cloud computing is a style of computing in which dynamically scalable and virtualized resources are provided as a service on the internet. Through distributing computation tasks to different parts of the network, users can detect complex markets, predict the weather, and simulate bio-chemical reactions.
Decentralized cloud computing represents a vision to make computing power a globally-available utility, just like water, gas, and electricity.
However, making that vision a reality is a challenging process. Amongst the several key steps in the framework of the cloud architectures, decentralized storage networks is a critical layer. Without central controllers, the network collects excess storage resources and fits them into a dynamic market mechanism, to achieve low price and security over extended period of time.
In this report, we will explore the development roadmap of cloud computing as a global utility, and take a deep dive into the quest for decentralized storage networks including projects such as SiaCoin, Storj, MaidSafe, and Filecoin.
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