Bitcoin Forum

What are everyone's favorite decentralized cloud storage projects and where do you see the future of overall adoption of decentralized storage over current commercial options (AWS, Dropbox, etc.)?

Listing a few decentralized storage altcoins:

1. Filecoin (FIL)
2. Siacoin (SC)
3. Arweave (AR)
4. Storj (STORJ)
5. Opacity (OPCT)

Not aware of these storage-related altcoins but in a quick view, are they really a big deal? Dropbox, Google Drive, Mega, Asus are already dominating the cloud-storage. What's the advantage and benefits that these coins will bring in terms of cloud storage?

I will follow this thread for more references.

I know the 3 of them. Filecoin became popular last year IIRC. Storj around 2016-2017 IIRC together with Siacoin. There's still not that much popularity for these consensuses because many are still not open to it. But who knows, maybe a year or two, Amazon Web Services competitors will become popular through their decentralization and use case.

To be honest I am really looking forward to decentralized storage projects in the future, with the raise of NFT projects, DeFi, etc. Another category or field is expected too, like this decentralized storage or decentralized cloud platforms.
For now, on different NFT projects these days, I keep seeing Arweave (AR) implemented on their platform which for me, is really useful, a cryptocurrency that is already have a product is always a good investment.

Perhaps from a security perspective, decentralized storage could prevent ransomware attacks against individuals, without requiring backups, as pieces of your files are distributed across multiple nodes and the compromise of one node does not alter the integrity of your files. That being said, most ransomware attacks are against companies that actually have the capital to pay to have their files decrypted, so it may be solving a problem that does not need to be solved.

In terms of anonymity and freedom to store whatever you want, commercial storage companies have 'Acceptable Use Policies' that I am not sure decentralized storage platforms are tied to giving users the freedom to store anything.

I do not think people will move to that decentralized cloud storage projects as they already have Google, which is integrated with their devices. It needs more development from each project to be the next cloud storage and compete with Google, Dropbox, etc. Maybe people will use those cloud storage projects for making money for people until they can grow bigger and ready to join in the competitions with the other big cloud storage companies.

These are the tokens that are storage based https://www.coingecko.com/en/categories/storage so far Filecoin is leading the market for it, I used to invest in Storj there was a time that miners are mining this coin through plot, with these numbers of storage based tokens we can conclude that there is a market for this, but so far cloud storages managed by big industries like Google and Amazon are still leading the market.

The five Altcoins that you describe did not interest me at all to own them because from the past I have seen them all so cheap and never move to increase to a more expensive value, so I am not interested in owning them all at this time.

First time I heard about this. I was used with just Google Drive and Mediafire as my go-to file storage but of course, it is not a safe place for every file that you want to keep.
Are these kinds of projects offer more security than the said names or are they just the same? How about fees for extending the amount of file storage? Are they cheaper than the said traditional storage? My wife is thinking about buying an online storage space because of the flooding videos and photos of the kids and my hard drive broke down leaving all the baby photos of them in it, this might be exactly what we need.

First I also had same impression as you did however if we think a bit more then we are in crypto which means these projects might be rewarding their users in terms of tokenised payment, by spending these tokens fir their services and products. Mostly these are the kinds of ways where we spend them and use it. That’s why it’s preferred over Google, Amazon etc. Plus you get sort of anonymous structure to which may not be 100% anonymous but could be one step more than Google at least. 😂

I see no difference in storage coins or coin which are used for Exchangers. I mean we have share market then why use crypto exchanges? So there you go same story for the storage coins or any other utility project out there.