Storage provider based in Nigeria says that it is too risky for the world to rely on centralized cloud memory platforms-interview with
Storage provider based in Nigeria says that it is too risky for the world to rely on centralized cloud memory platforms-interview with
last year experienced internet giants such as Amazon and Google failures that were due to errors and failed upgrades. The appearance of such failures and their effects on the whole world have again underlined the importance of a decentralized Internet.
Just like the COVID 19 pandemic in the world that blockchain-based digital currencies are the future, the failures of the powerful Internet companies may have given those who work for Web3.0.
This web3.0 can really take off if the actors of this ecosystem contribute their part to build up the critical infrastructure. Lucky Uwakwe, the co-founder of Stoor, tries this via the blockchain-based cloud memory service of the startup.
In a question-and-answer interview with Bitcoin.com News, the Uwakwe, based in Nigeria, explains the concept of the decentralized cloud storage and how the blockchain enables this type of storage. He also shares thoughts about the development of web3.0 and why the world is now ready for this next stage of the Internet. Below the written answers from Uwakwe are on the questions addressed to him.
Bitcoin.com News: Can you explain this concept of the decentralized cloud storage in blockchain?
Happy Uwakwe: The concept of the decentralized cloud storage essentially uses the advantage of the decentralized cloud storage of the blockchain. In contrast to centralized databases, the existing decentralized cloud storage systems were developed to use the advantages of the blockchain by integrating the following functions that represent an improvement compared to traditional cloud memory providers:
decentralized systems ensure that the cloud memory is distributed to many computers and in several locations. Hackers would have more difficult to access large amounts of data so that they can rarely fail. This also means that no single government or institution can intervene in the blockchain as long as other servers operate the database outside its jurisdiction.
You are designed in such a way that you are executed by entering each user of the network, ie peers in the system can replace information without the monitoring or approval of a central administrator required. They promote participation in the network by encouraging them to provide unused storage space on their devices and thus earn money.
You use unused hard disk storage from devices around the world to establish a market for data storage, which is more reliable and cost-effective than conventional cloud storage providers. They encrypt and distribute all files via a decentralized network. This means that every uploader of files has its keys and data. No external company or third parties can access your own files or check them.
BCN: To what extent is this different from central storage and why is it needed now?
lu: centralized database storage systems were typically those who handle data storage. They are physically carried out on a server and checked by a named area. However, since customer requirements continue to increase, it will be increasingly difficult for the data center industry to ensure higher operating times while maintaining security and minimal costs. They are an easy goal for hackers who may be given access to many data stored in one place.
Speaking of incentives: Only shareholders or board members of this centralized cloud company can earn dividends, in contrast to a decentralized blockchain solution, in which everyone can be given the opportunity to earn dividends
BCN: Who should use this type of memory?
lu: every user of the Internet or someone who uploads or stores files of all kinds on the Internet or on his device (telephone, laptop, iPad, tablet, desktop, etc.)
BCN: In your pitch you also present the concept of earnings when saving. Can you briefly explain what that means and why this is necessary?
lu: Centralized solutions such as Microsoft Azure, Google Cloud, Amazon Web Service, ICloud, Dropbox etc. only have the incentive to store the data of the user data, at a prize considered cheap. On the other hand, there are decentralized services such as SIA, Filecoin and Arweave with an incentive from the central system and with additional incentives for storage space providers in your network.
However, we (in our company) Stoor have all the above and incentives for those who upload files. There are incentives for the owners of our token, app developer and platform owner who ensure that all users are covered in the ecosystem. These options and the corresponding rewards speak for the core ethos of our company: the people who make up the entire ecosystem are important; They have to be rewarded.
bcn: What prompted you to get into this business?
lu: The world is obviously ready for web 3.0 and we move away from the web 2.0 age, blockchain has shaped this for all of us. However, it becomes questionable when we see that web 3.0, which should be independent and progressive, still does not depend on the blockchain, but on the centralized Amazon and Google cloud to save data for web 3.0 solutions.
We have received more and more reports that these cloud providers were taken offline due to hackings or mistakes at upgrades, while the companies never inform us about the integrity of our stored data after every meat attempt or successful hacking. At Stoor we think it is too risky for the world to mainly rely on these few centralized platforms. If we really want to get on web 3.0, we need a solution based on Web 3.0
BCN: In your opinion, are Africa and the rest of the world ready for blockchain storage?
lu: The world is ready for a decentralized blockchain storage solution. We just had no perfect mix that all participants in the ecosystem captures, and we know that our solution is a better plan that all participants in the ecosystem records in the area of data.
BCN: Jack Dorsey, The founder of Twitter, recently Controversy when he tweeted the role of VCS when building the Web3.0. Do you agree to Dorsey?
lu: I respect Jack as a person and his bold vision. As a person and co -founder of Stoor, I took the way to build and build with the attitude of making most of the performance of Web3.0 available to humans.
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