Cloud computing has gained widespread popularity in the recent years. It isn’t just something in the trend. It has now become a crucial part of the business model and is taking the world by storm.
Aside from changing how businesses store and access information, it is also changing how businesses function. In short, it means both small and large organizations majorly depend on the cloud to operate.
According to MarketsandMarkets’ report, cloud computing is likely to reach $1.2 trillion in revenue by 2027. However, despite cloud computing being big business, its model is imperfect. So, can it be fixed or is there any alternative to it?
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Cloud Computing Flaws
A few companies are responsible for the management of cloud infrastructure. As per Statista, Amazon alone handles roughly one-third of the entire cloud traffic.
These companies often rely on a “hyperscale model”, which is about building huge server farms. Today, nearly 700 server farms are built.
The data center of these server farms uses a large amount of energy. Due to this reason, they are also considered an environmental nightmare.
Apart from the environmental cost, another cloud computing flaw is that it is vulnerable to blackouts. This is due to its relative concentration and centralization. So, if one server farm goes down, it means several clouds are at risk.
Blockchain As An Alternative
The company Cudo Ventures bets that blockchain can be a solution. The technology allows peer-to-peer transactions at the core which is one hundred percent secure. It doesn’t even need any centralized authority to supervise the network. Many projects like Bitcoin use blockchain technology to transfer and store wealth.
Cudo Ventures is trying to disrupt the cloud by using Blockchain technology. The company is turning the centralized “hyperscale model” into a distributed network, called the Cudo Compute.
Can Blockchain Fix the Cloud Computing Flaws?
Well, there is indeed a possibility that blockchain may fix the cloud computing flaws. Blockchain does have the power when it comes to incentivizing small-scale and individual data centers. The process of incentivization can be automatically handled, secured, and validated through the blockchain network. If Cudo Compute succeeds in converging with blockchain, it might overcome the issues of the modern cloud.