Why decentralization is a new way to store data

Bank of Memories
2 min readAug 21, 2020

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Where to store yourself?

The world we are today is shifting from physical to digital. Many of the aspects of our life or things we do on daily basis are moving to screens and new technologies to solve the challenges arising from digitalization. In the past we used to save most of our data on computers and phones locally. Later we started to move towards cloud storage.

Here in this article we will be talking about why decentralized storage is a new way to store data.

What is decentralized storage?

Decentralized storage is where data is stored on a decentralized network across multiple locations by users.

In crypto word today, decentralized storage is one of the hottest blockchain use cases. In this day and century, data is considered to be more valuable than money because everyone wants faster and more secure access to storage.

Reasons why you should choose decentralized storage over centralization.

Centralization: The internet was supposed to be a distributed system where each node is expendable. However, the majority of our data is concentrated in centralized hubs like Facebook, Google, or Microsoft which increases the risk of data abuse, leaks and denial of services. Using decentralized storage systems you don’t need to rely on centralized services. Everything can literally be distributed to thousands of nodes around the world. For instance on your personal PC or computers file sharing was rather basic or rudimentary. If you wanted to store or share data, then you insert a floppy disk into your CPU and transferred the data into it. Over the years we had CDs, hard disks, which could store large quantities of data but the core concept remained the same.

Decentralized storage: it breaks apart the user’s files and distribute them across multiple nodes on their network. The data is scattered across multiple nodes there is no single point of failure. In a centralized system, if the server is down for whatever reason, the entire system goes down. But in a decentralized system, even if one of the nodes goes down, the rest of the network will be more than capable of making up for the slack.

How to create your own personal bank for data storage?

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Bank of Memories

Mobile application for the whole family. Build a family tree, send messages to the future, create a digital monument and etc. Powered by blockchain technology