Blockchain thanks to its decentralized nature alongside its immutability and transparency serves a significant role in distributing duties and tasks across vast networks. It is a technology that is growing rapidly, every day maintaining countless distributed databases. Enabling file sharing and transferring through blockchain can open many doors towards unlimited growth potential for the technology - it can completely revolutionize the way file sharing is seen.
Instead of uploading on a third-party platform and downloading through it, files can be shared from node to node on a decentralized network without any risks or security vulnerabilities. Third party platforms are always going to be prone to hacking and theft of important data, which can put privacy and security of users at risk. Contrarily, blockchain can provide a secure storage and transfer for financial and legal documents, agreements, photos and other essential data.
Libonomy is offering a blockchain-based peer-to-peer network for end-to-end encrypted distributed object storage which is more transparent, scalable and secure. The file storage platform utilizes Libonomy’s scalable p2p network, where the data is distributed among all the peers without ever putting a load on the network.
The most important aspects of file storage are throughput and confidentiality. The security of the platform can be carried out by encrypting all the files before distributing them over the network. Data transfer chain is written within the block headers which renders any attempts to tamper the data completely impossible on Libonomy blockchain.
In order to achieve the fastest throughput, Libonomy’s unique p2p protocol is used; the platform is configured to utilize the network pool of Libonomy’s blockchain in combination with peer resources and gossip-based communication.
A safe and transparent system, accepted at the governmental level, allowing to track and conduct legal operations with any kind of valuable assets: cars, houses, stocks, patents and more. Alternatively, it is a comprehensive solution for investment management, where people can receive shares and payments from public companies that they have invested in.
The blockchain network is not just accessible at any time of the day and any place of the world, it also holds intriguing future possibilities. With the improvement of technology, all the data can be processed and utilized in Libonomy’s interoperable smart contracts as well.
Our platform gives nodes an ability to earn rewards if they share space for Libonomy’s file storage solution. That together with improved overall usability and security presents an attractive system for file sharing and storage.
The possibilities of blockchain technology are broad and they keep expanding as this technology matures. The file sharing and storage system based on Libonomy’s blockchain will provide users with better security, availability and performance across a wide variety of use cases than any on-premise storage solutions or traditional, centralized cloud storage could.