On October 30, 2018, Storj Labs released a public alpha for their version 3 (V3) platform –– enabling developers and companies to test their decentralized cloud storage solution. The team also shared an updated white paper featuring their latest research on decentralized and distributed systems in cloud storage.Decentralized Cloud Storage RefresherDecentralized cloud storage solutions like Storj enable users to securely store their data on decentralized clouds utilizing peer-to-peer networks instead of storing their information on the servers of large corporations. This model works like an Airbnb for data; users with extra hard drive space can rent out their space as a place for other users to store their information.The decentralized cloud storage model has several benefits over centralized cloud storage:“Trustless” security: Users are the only ones who have access to their private keys, and are, therefore, the only ones who can access their files. Decentralized storage providers or hackers can’t access a user’s private information. Lightning-fast networks: In centralized cloud storage models, download speeds are contingent on a centralized data center. But, because decentralized networks are shared, download speeds are shared too. The more users on the network, the faster the network. Open-market for data storage: By creating an open market for storage, decentralized storage companies can provide lowe...
