What's up with data storage?
While the demand for storage grows, fueled by more and more user data generated by existing and emerging services, the services offered by cloud providers don't look like a long-term solution.
Unfortunately, cloud storage is not a permanent solution. While keeping your data in the cloud, you have to deal with problems like:
- Vulnerability created by a single point of failure. If the cloud server goes offline, you can not access your data. If a hacker compromises the server security, all your data is in his possession.
- Costs don't scale. For small businesses, clouds are cheaper than building their own storage infrastructure, but if you have a lot of data and access it several times per second you will pay too much money.
Also, there are few major cloud providers (Amazon, Microsoft, Oracle), meaning all the valuable data in the world is controlled by several corporations.
Decentralized storage network is an answer to all these problems.
There are several projects aiming to provide a secured and affordable data storage based on decentralized architecture and Fluence is one of them. The company is building a decentralized network that uses token economy to sustain and police itself. Fluence already had a successful pre-sale in Agust 2017. They had used the funds to grow a development team, deepen their research and provide a proof-of-concept. The token sale is scheduled for March 2018.
The Fluence network will have several crucial features by design, which are unavailable at cloud services.
- No single point of failure. The network is composed of independent nodes. The data is split and stored separately, constantly replicated and propagated through the network.
- Cryptography protection. Only the data original owner has the private key, that allows manipulating the data. Even the node has no idea what kind of things it stores. If the attacker with some malicious intent obtains a data piece, it would be totally useless.
- No middle man or other authority of any kind. The network is able to sustain itself. It is censorship proof.
- Fit for initiatives like GDPR or HIPAA by design. The Fluence network is built to keep sensitive user data and allow its safe frictionless transfer.
- Scalable at an affordable price. Nodes are rewarded with FLU tokens for the useful work they provide, while they compete in an open market. Meaning the price is regulated by the market and it is in the node's interests to keep it at a reasonable level to win the storage contract and profit.
- Fluence is designed to be an open market without any intermediary or central marketplace. Anyone can join or create her own private network based on the Fluence protocol.
The FLU token will be the only way to purchase the services from the network.
This model will also allow anyone with underutilized storage capacities to join the network and earn, creating a stable economy with supply and demand.
Advisors and Partners
The project is backed by Gordon Hall is better known as bookchin, founder of Storj and Orc network. Also, advisory board includes Snapchat and 1kx capital
Fluence has partnered with Friend Software, a framework for dApps developers. The team believes the availability of Fluence as a default database in the developer tool kit will improve adoption.
The FLU tokensale
The tokensale will be whitelisting only. Join Fluence community to be whitelisted: