A Blockchain-Based Distributed Storage Network to Manage Growing Data Storage Needs

Abstract

IoT industry has come to the fore in this modern techno-frenzy age. This has caused digital data explosion and has kept the data storage industry on its toes. The paper proposes a novel blockchain-based data storage model where users contribute the storage space of their personal electronic devices to meet the growing data storage needs. The paper dives into a decentralized system design, along with an equitable compensation model for all the storage space contributing users. The decentralized framework provides a common platform for interaction between the storage space contributors and buyers. The proposed solution provides an alternative to cloud storage which relies heavily on servers.