How Web3 improves data storage: GhostDrive joins Cointelegraph Accelerator

Data storage is a vital location pestered by central monopolies that take away user control and information ownership. Large corporations have actually been able to dominate information storage easily due to the absence of competitors, triggering a stagnancy in data storage enhancements for end users.The typical users growing requirement to store and handle data, paired with personal privacy concerns and the high costs associated with centralized platforms, made it possible for the growth of information storage powered by decentralized physical facilities networks (DePIN), including FileCoin and Arweave. While the expenses are low, the lack of consumer-oriented applications limits the proliferation of more usage cases.Web3 data storageA brand-new Web3 data storage platform called GhostDrive is putting the end user in focus rather. GhostDrive enables users to tailor the file encryption rules for each file published, making collective tasks simpler to gain access to however individual pictures much harder to view.The distribution of information security in Ghostdrive offers users more control over protecting their information.

What would drive the next billion users to the blockchain community? Green rate charts for related coins, or maybe more approval from federal governments worldwide? Both can assist draw the masses attention to blockchain-based technologies. However, the real-world utilizes would generate adequate interest for the typical user to check out the innovation– an app or a service that provides utility for the end-user. Information storage is an important area afflicted by centralized monopolies that take away user control and data ownership. According to a Fortune Business Insights report, the marketplace was valued at $217 billion in 2022 and is expected to grow to over $777 billion by 2030. Big corporations have been able to dominate data storage effortlessly due to the absence of competitors, causing a stagnancy in data storage improvements for end users.The average users growing requirement to store and manage data, combined with personal privacy concerns and the high costs connected with central platforms, enabled the growth of information storage powered by decentralized physical infrastructure networks (DePIN), consisting of FileCoin and Arweave. DePINs provide easy scalability, improved security and data storage through a network of interconnected physical resources, such as servers and storage devices dispersed throughout several places. By using DePINs, data storage services can provide their customers cheaper rates options.In a world where most mobile phones dont have extra storage features while an average 4K video is holding about 1 GB of storage at minimum, its no surprise that Big Tech is pressing users towards cloud storage. Since both Google and Apple have cloud offerings for end users that offer native-level support for their particular gadgets, these centralized entities dont see a factor to lower prices.DePIN uses tokens to initiate the setup of physical facilities, subsequently cultivating a network impact that allows the structure of decentralized applications (DApps). Centralized solutions like Amazon S3 cost as much as 121 times more than Filecoin. Nevertheless, the price discrepancy doesnt straight equate into new users, as these procedures are focused on the infrastructure and enterprise-grade options instead of the public. While the expenses are low, the absence of consumer-oriented applications limits the expansion of more use cases.Web3 information storageA new Web3 information storage platform called GhostDrive is putting the end user in focus instead. GhostDrive provides an easy to use experience that feels user-friendly for mainstream users originating from centralized options like Google Drive. The option between MetaMask wallet integration or standard email registration is offered to users to streamline their onboarding procedure from Web2.Powered by InterPlanetary File System (IPFS) and Filecoin, the platform makes it possible for possession tokenization and safe and secure data exchange. GhostDrive delivers various Web3-friendly functions to allow decentralized information storage, sharing and access.GhostDrives user interface is user-friendly and offers a familiar experience for users from centralized platforms. Source: GhostDriveGhostDrive puts users concerns about information personal privacy and security at the leading edge, as files submitted to the platform go through a detailed encryption process prior to being transferred and kept. Only licensed users have the ability to gain access to and view these files by decrypting them. GhostDrive permits users to customize the encryption guidelines for each file submitted, making collective tasks simpler to gain access to but individual images much more difficult to view.The circulation of data security in Ghostdrive provides users more control over safeguarding their data. While the platform safeguards infrastructure, users protect their data, making sure delicate information stays personal. This option reduces users dependence on company while assisting suppliers keep costs low by saving money on security expenses. GhostDrive uses MultiSig innovation, which provides numerous authorizations for essential information actions, boosting security and cultivating collective information management.GhostDrive likewise makes it possible for on-the-fly file conversion and compression by permitting users to change between various formats without external tools.The Cointelegraph Accelerator program has now welcomed Ghostdrive to its list of participants. The program selected Ghostdrive for its potential to interfere with data storage and tokenization and become a point of onboarding new users to the Web3 community by supplying a real-life usage case. The Singapore-based company aims to become an all-in-one platform for data encryption, control and owners.