Top 5 Decentralized Storage Networks on Blockchain for 2024

Data security and management are more crucial than ever in the modern digital environment. A single central organization frequently controls conventional storage methods, which are subject to censorship, data loss, and security flaws. Let me introduce you to decentralized storage, a ground-breaking process that utilizes blockchain technology to store data across several nodes in a distributed network. In addition to improving security and dependability, this method offers customers total control over their data.

Data storage and management are changing due to decentralized storage networks such as StorX and the InterPlanetary File System (IPFS). For instance, users may safely and discreetly store, view, and share data over the peer-to-peer IPFS file storage network. In contrast, StorX ensures unmatched security and privacy by encrypting and fragmenting data and spreading it among a worldwide network of hosting nodes.

What Is Decentralized Storage?

Decentralized storage is a type of storage solution that doesn't rely on a single centralized organization but uses blockchain technology to power a decentralized network—a decentralized network stores data on multiple nodes rather than a single server controlled by one authority. Data sharing and protection from errors and other hazards improve security and dependability.

In addition, users of decentralized storage solutions own and control all of their data instead of depending on a third party to maintain and manage it. Examples of decentralized storage systems include StorX and the InterPlanetary File System (IPFS).

With enhanced security, privacy, and scalability, IPFS is a decentralized, peer-to-peer file storage network that enables users to store, read, and share data distributedly. Anyone may safely encrypt, fragment, and distribute important data among several hosting nodes worldwide with StorX. Several global operators manage each StorX file, dividing it into multiple parts before encrypting and storing them on separate storage nodes.

The Best 5 Decentralized Storage Platforms

1. BitTorrent

BitTorrent is one of the first and most well-known decentralized networks for data storage. In 2001, BitTorrent gained popularity as a platform for illegal file exchange. Over time, BitTorrent developed into a whole family of products, including the BitTorrent File System (BTFS).

We created BTFS, a scalable, decentralized storage system, to avoid government censorship, reduce storage costs, and enhance fault tolerance. BTFS is dependent on user nodes, just like other distributed storage networks. However, one feature that sets BitTorrent apart from some different networks is the presence of more than 100 million user nodes. Furthermore, BTFS is blockchain-based and takes advantage of the TRON network. There are more than 1,000 complete TRON nodes, and 27 block makers have earned the title of super representatives.

2. Filecoin 

Filecoin is well-known for raising $257 million in 2017 in one of the biggest initial coin offerings ever. It is a peer-to-peer (P2P) network service that uses native currency and blockchain technology to provide storage services.

FIL, the cryptocurrency, supports all transactions. Users pay FIL for file storage, and miners—the owners of storage nodes—earn FIL to store data. The blockchain ledger documents the transactions, demonstrating that miners appropriately store information.Filecoin's foundation is IPFS, a P2P hypermedia protocol created to overcome some drawbacks of using HTTP for distributed storage.

No single entity sets the price of Filecoin instead, it is a free market accessible to all. While this gives more freedom, it may also provide challenges for companies that have storage budgets to stick to, particularly when figuring out gas fees, which are costs associated with the resources used in on-chain message operations.

3. MaidSafe and Safe Network

A tiny group called MaidSafe is developing the Safe Network, an autonomous worldwide network of storage nodes. MaidSafe aimed to create a network that could withstand switching off, banning, filtering, or management.

Together, the software managemant network storage and securely routes messages and data between nodes. Clustering nodes together forms sections that regulate the data contained within them. There is no need for centralized servers, agents, or human supervision because section construction and data transit are entirely autonomous processes.

Subject to a resource test, anybody can store data or access publicly accessible information on the network, and anyone can join the network anonymously as a provider. The Safe Network project also makes an API available for developers to communicate directly with the network.

The Safe Network does not employ blockchain technology or any public ledger, in contrast to Filecoin and many other decentralized storage choices. This eliminates the need to synchronize ledger data between nodes and facilitates network scalability. The client program allows end users to save data on the Safe Network. The program splits the data into at least three segments, hashes and encrypts each segment, and adds additional security. The program keeps multiple copies of each segment within a section to ensure redundancy.

Customers use MaidSafeCoin, which trades on several open exchanges, to purchase storage. MaidSafeCoin also compensates vendors for excess storage space. Over time, Safe Network Tokens will replace MaidSafeCoin.

4. Sia

Similar to Filecoin, Sia is a decentralized file storage platform that employs blockchain technology to encrypt files and share them over an international peer-to-peer network. The Sia client program, accessible for Windows, Linux, and macOS, divides each file into thirty segments. We then send these segments to several hosts.

The program uses Reed-Solomon erasure coding to provide redundancy and allow file recovery from just 10 segments. Before transferring the segments to the storage hosts, the program encrypts them using the open-source Threefish method. Hosts use Siacoin to store data as collateral, while renters use it to acquire storage.

Storage providers compete for business in Sia's decentralized storage marketplace, so pricing is less predictable. As of August 2023, a terabyte of storage costs 236.96 Siacoins per month, or around 80 cents. However, renters should be aware of additional expenses like bandwidth fees for file uploads and downloads and contract formation fees. Siacoin's value varies, much like other currencies; therefore, storage expenses change monthly.

5. Storj and Tardigrade

One of Sia's main rivals, Storj, offers comparable services like blockchain storage. But Storj's name has caused some uncertainty. The terms Tardigrade and Storj denoted two distinct commercial divisions of Storj Labs. Tardigrade focused on the demand side, while Storj concentrated on the supply side. Tardigrade clients have access to decentralized storage via Storj node operators. Since then, the company claims that Storj has rebranded its Tardigrade product as Storj Decentralized Cloud Storage and launched it under the Storj name.

Like Sia, Storj storage divides data into smaller chunks, secures it with Galois/Counter Mode symmetric encryption and Advanced Encryption Standard-256 (AES-256), and stores it globally. Storj storage is compatible with S3. Storj divides files into 64 MB segments and distributes each segment to storage nodes in 80 pieces. Only 29 of these 80 components are required for file access, and the service utilizes the fastest-accessible pieces.

Conclusion

Because decentralized storage networks provide better security, privacy, and control, they are changing the face of data management. Leading this change are platforms like Filecoin, BitTorrent, MaidSafe's Safe Network, Sia, and Storj, each with its special features and methods. These networks mitigate the dangers of centralization by spreading data among several nodes, guaranteeing data accessibility and integrity. As the digital world develops, decentralized storage options will become essential for everyone seeking a dependable and safe method to handle their data. Businesses like DecentraBlock, a top blockchain development company at the forefront of this change, offer state-of-the-art decentralized storage solutions that give customers unmatched data protection and management.