The growing demand for decentralized storage and computing is a major factor that could support the price of Hive in the future. There are a number of reasons why people are looking for decentralized storage and computing solutions. One reason is that centralized storage and computing services are vulnerable to outages and security breaches. Decentralized storage and computing networks are more resilient to these threats.
Another reason is that people are becoming increasingly concerned about their privacy. Decentralized storage and computing networks allow users to store and process their data without having to worry about it being collected and sold by third-party companies.
Scalability and Efficiency: Decentralized storage and computing can potentially offer improved scalability and efficiency compared to traditional centralized solutions. By leveraging distributed networks, these systems can tap into a vast amount of resources available across the network.
Monetization Opportunities: Decentralized storage and computing can create new opportunities for individuals and businesses to monetize their unused storage and computing resources by participating in decentralized networks.
Global Accessibility: Decentralized systems can enhance accessibility for users worldwide, as they are not bound by geographical restrictions or dependency on a single central entity. This can particularly benefit regions with limited access to centralized services.
Blockchain and Distributed Ledger Technologies: The advent of blockchain and other distributed ledger technologies has provided a foundation for building decentralized storage and computing solutions. These technologies enable trustless interactions and provide the necessary infrastructure for decentralization.
However Centralized storage solutions allow users to store data over the internet and access it remotely from anywhere, anytime. The data gets stored in a single, central location such as the cloud. Thus, it offers easy access, mobility, and quick deployment across all devices, as well as backups, and unlimited storage facilities – all at affordable prices. These days, large companies like Google, Microsoft, Amazon, Samsung, Alibaba, and Apple are supplying cloud storage solutions through Infrastructure as a service (IaaS).
Summary
Generally, the growing demand for decentralized storage and computing reflects a broader shift towards empowering individuals and communities to have greater control over their data and computational resources in a more secure, private, and inclusive manner as it promotes censorship resistance.
