Cloud storage is one of the fastest growing commodities. By 2022, estimates suggest the entire cloud storage industry will be worth $92.49 billion dollars. Despite this abundant size, the cloud storage industry is dominated by a handful of major players, leaving very little room for new businesses to find a footing in the industry.
Additionally, because the cloud storage industry is dominated by a handful of companies, the industry as a whole is completely centralized, leading to a central point of failure for malicious hackers to exploit in order to obtain user data.
What is the solution to this current mess associated with the cloud storage industry? Encrypted, decentralized storage, where data is distributed across a vast network instead of being placed at a single point of failure.
Opacity utilizes IOTA’s infrastructure for hosting data stored on the Opacity platform. The IOTA Tangle will eventually be supported by millions of IoT devices, creating the perfect decentralized platform for anonymous, encrypted data storage. A data file is broken into chunks, and each of these chunks are encrypted. These encrypted chunks exist as transactions on the IOTA Tangle and are retained on the Tangle for as long as the storage user wishes. Users are provided with an Opacity Handle, which is required to retrieve the file uploaded via Opacity’s storage solution. Without this handle, the uploaded file cannot be retrieved, and as long as the storage user keeps their handle in a safe location, their data can never be breached or stolen by a malicious third party, or government agency.
With sharding and Swarm Intelligence, every smart device from your smart tv, microwave, toaster, or washing machine will be able to interact with the IOTA Tangle, and be used as a node within the network. With the exponential growth of the IoT market, the potential amount of smart devices that will exist on the IOTA Tangle is in the millions. With sharding, each of these IoT devices can be used to store “shards” of data that are uploaded to the IOTA Tangle, leading to the overall storage load on the IOTA Tangle being distributed across millions of devices, as opposed to being stored on one single server. Sharding and Swarm Intelligence is what will allow Opacity to store significant loads of data on the IOTA Tangle, ultimately making Opacity a viable commercial alternative to current centralized storage solutions.
Unlike centralized competitors, Opacity will never limit download speeds for users or require a payment for downloading a file hosted on the Tangle. Opacity Storage is free forever, and only costs a user their bandwidth.