Top Tokens in Decentralized Cloud Storage
TL;DR: Some Decentralized Cloud Storage have their own token token. Decentralized Cloud Storage is the most private and secure way to storage your data and their token works also as a payment method for their node operators. Tokens can be use as an investment and trading tool, too. We are going to analyze Internxt , SIA, Elastos and Holo token. Read the full article to learn about the utility, price and payment method of each of them so that you can choose the token that fits you best.
Blockchain technology is changing the world and if you have never heard of Blockchain I am very sure that you have heard of cryptocurrencies and more specifically of Bitcoin. Well, the Blockchain is the technology that is behind this cryptocurrency and many more that currently exist in the market. Blockchain is not only used for cryptocurrency, nowadays it is very fashionable to put the Blockchain in all industries such as cloud storage, finance, food security, agriculture, gaming industry….
Today we are going to talk about one of these industries, cloud storage. The world-renowned companies involved in cloud storage are Dropbox, OneDrive, Amazon and Google drive, which have traditionally stored huge amounts of files in centralized databases.
But with these services we have to give up having only us access to our data and we are under the control of such centralized companies that can use our data for any purpose they want. We must also be aware that we really don’t know how hacker-proof their server system is and whether they are copying or using our data and selling it elsewhere to third parties.
Improved performance and cost reductions in storage technologies have driven the creation of new computing architectures that enable the solution of real-world problems such as lack of privacy and security on the Internet.
Thanks to this, decentralized cloud storage has born, using a system of payment to its nodes with its own cryptocurrency or token, something revolutionary and innovative.
Here is a list of the best cloud storage tokens to invest in, make the change now!
SIA is a protocol that emerged from the HackMIT event in 2013, but officially Sia was launched in 2015 and wants to achieve the utilization of memory units capacity to create a decentralized mass storage market powered by the siacoin currency ($SC).
Sia achieves this by creating a marketplace for hosts and users via the token economics of Siacoin. You can rent out extra space on their PC and get paid in Siacoin. This works on both sides, any user who wants to use Sia storage needs to pay Siacoins to the host. Their currency is used to store file contracts on the Sia blockchain. A host has to keep the files for an agreed time and space and as a security they have to put some amount of Siacoins too.
Siacoin price today is $0,002441 USD with a 24-hour trading volume of $5,888,448 USD (483,97565821 BTC) with a market cap of $117,402,827 USD (9649 BTC). It has a circulating supply of 44,933,002,992 SC coins.
Internxt first service, Internxt Drive, is a decentralized cloud storage service available for individuals and soon for businesses (in their twitter account they say it’s going to happen at the end of the year). Files uploaded to Internxt’s infrastructure are client-side encrypted and fragmented. Internxt counts with its own token, INXT, which acts as a payment method for its node operators, who are distributed all over the globe. The method payment I think is easier than SIA because you just have to sign up for the predetermine plans they have in their website but also one or twice per year they send a special offer to life-time plans for just 399$
Internxt price today is $1,48 USD with a 24-hour trading volume of $211.034 USD. It has a circulating supply of 629.610 INXT coins ( 16,28280505 BTC) and a Market Cap of $1.251.566 USD
Elastos is different from Sia and Internxt. How? They are a decentralized network operating system for example similar to Apple(MacOS) and Microsoft(Windows) but what makes Elastos different? They have their own Internet, the users of Elastos own their data not only in the cloud storage terms (Hive++) also they have their own browser called Trinity and Integrates all the services in a singular DApp for developers.
Their decentralized network has 215 000 nodes, It’s this peer-to-peer network (no third party) that will handle and process all decentralized applications.
Elastos price today is $1,47 USD with a 24-hour trading volume of $2.530.871 USD (205,27386831 BTC) with a market cap of $30.798.887 USD (2498 BTC). It has a circulating supply of 17.244.540 ELA coins.
The Holo Fuel Project is similar to Elastos and reminds the Ethereum project, which aims to build a decentralized Internet based on the ETH block chain. However, Holochain goes one step further and intends to create a distributed Internet, that is, a distributed computer network that works faster than the Blockchain technology.
The Holo team claims that the Holo network is infinitely scalable, so that new distributed applications do not overload the network Holochain also provides an open source framework for creating fully distributed peer-to-peer applications for programming all types of applications, Apps built with today’s distributed, cloud-based IT infrastructure in mind.
Holo Price today is $0,000450 USD with a 24-hour trading volume of $5.652.939 USD (475,12939777 BTC) with a market cap of $84.195.357 USD (6980 BTC) It has a circulating supply of 166.481.121.691 HOT coins.
Have you invested in any of the tokens mentioned above? or in another one that is linked to decentralized cloud storage? Don’t hesitate to comment this post and let me know your opinions and suggestions!