Cloud computing and cryptocurrencies

16.03.2018 1,889 2

Martin Pramatarov

The cloud is the current champion of the internet operations. The cloud services can provide you with a significant amount of storage space and the cloud computing can outperform many single devices.

But now there is a new contestant for the crown, thanks to the so popular cryptocurrencies, its name is Cloud Token.

Behind the cryptocurrencies, there is a new technology called blockchain. It uses a secure method of saving data called cryptography. For the purpose, there are many independent connected devices, which are processing the data and creating blocks of information. They form a chain that contains all of the information in it and this is from where the blockchain comes. The users of those devices receive cryptocurrency as a reward for the job their gadgets did.

But how does blockchain even compete with cloud computing?

Here, the idea behind the Cloud Token comes. It wants to use the Peer to Peer model to create a massive international network of devices. The creators named it a cloud-based ecosystem but it is not like the typical clouds, here we don’t have massive data centers.

It is all about the sharing of resources, all of those devices will be able to share a part of their storage and processing power.

Sounds good but there are more than a few worries about it.

• Computing. The current generation of cloud data centers is very well equipped with state of the art hardware specialized in certain computer operations. You can’t compare a regular user PC with a data center. You will need thousands of PCs and other connected devices just to be partly equal to a modern data center.
• Storage. Maybe you see the prices of cloud storage too high, but they provide a very consistent service. You can expect the cloud to open equally from every part of the world and to work fast thanks to the SSD drives in it. You can’t say the same if your files are shared between many users with different configurations and internet speed.
• Scalability. Clouds are famous for being very easy to update. You want more, you just contact your provider and they increase your limits. The Cloud Token might sound similar in this aspect, but with the massive number of the connected devices, the blockchain will become enormous and very hard to process by average PCs.

Will Cloud Token be a worthy competitor to the current king – cloud computing?

Many have been skeptical about cryptocurrencies from the beginning, but they are still out there even against some government efforts. So only the time will reveal was it a bluff or a real alternative. For the users, it is always better to have more competitors, it means more innovations and better deals.