Big Data has been around for a while and blockchain technology currently rides the hype wave. What results can the concoction of these two innovations produce?
Due to the fact that cryptocurrencies and other real-world applications of blockchain technology are becoming more and more mainstream, the amount of transactional data stored within various ledgers becomes huge. Storing these vast data lakes at conventional cloud storage providers like AWS or Azure would cost quite a fortune. However, the pilot project launched by Storj and other decentralized data storage providers showed up to 90% cost savings as compared to AWS.
Author: Volodymyr Fedak