An overview of decentralized storage networks

Quick Take

  • Decentralized storage networks have the potential to expand existing blockchains’ capabilities.
  • Incentive mechanisms are the main component of decentralized storage networks.
  • At the moment, Filecoin is experiencing an excess supply, which is why storage miners store useless files.
  • Arweave offers permanent storage thanks to its innovative incentive system.
Modern blockchains like Ethereum are suitable for transferring value in a native coin form and running small applications – smart contracts. In terms of improving user experience, blockchains have the following challenges that need to be solved: scalability (reduction of transaction costs) interoperability (decentralized transfer of information and value between multiple blockchains) decentralized storage (optimized […]

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