Hello my friend this time I will discuss about Market.Space, What is Market.Space? Let's see more.
INTRODUCTION
Project Introduction
Market.space is a decentralized self-regulatory system for data storage, transmission, and distribution of live content. It performs some non-standard functions that make it stand out from the competition:
- As a host aggregator, Market.space enables professional hosting providers and data centers to thrive on leasing unused storage capacity
- Our system serves as a market, free of charge or transaction fees, which means affordable prices
- With Market.space, authentic content can be distributed smoothly and securely through their intermediaries and costs. This function is intrinsically embedded in the system architecture while competitors will need centralization or additional applications for it
Responsible data storage is done according to the algorithm set in the smart contract. All participants are treated equally and receive compensation for their involvement in data transmission.
The use of general ledger technology is distributed along with the involvement of professional hosting providers supporting truly safe and reliable services while demand and supply-based quote systems provide affordability.
The birth of Market Space
The Market.space platform concept was completed in the third quarter of 2017. Our team has been actively involved in the development and support of international data storage and transmission projects for over 5 years. Thus the idea of a system that would allow reliable data storage at an affordable price has been maintained for a long time. Now that the market desperately needs such a system, we have begun to develop an internal architecture.
DATA STORAGE MARKET
Leaders and hopes
Today, the number of internet users reaches up to 3.8 billion people, which makes up nearly 50% of the world's population. Developing countries are responsible for the majority of users (about 2.5B). The number of users in the developed world equals about 1B.
Starting in 2016, the volume of the cloud storage market (PCS - Public Cloud Storage) generates $ 26.4B and is expected to reach $ 99B by 2022 (figure 1). On average, the market grew 24.8% [1] per year.
Figure 1. The growth of PCS market, 2015-2022
Currently 39% of Internet users, or 1.5B people, regularly use cloud storage services. By 2020 this number is expected to jump to $ 2.3 billion [2] while market penetration will grow from 47% to 59% (figure 2).
Figure 2. Number of PCS users worldwide, 2014-2020
As projected by analysts [1], the fastest growth will be shown by the Asia-Pacific region countries (APAC), Latin America, Middle East and Africa (LAMEA).
Main cast
Today the list of largest PCS players includes OneDrive (Microsoft), Google, Dropbox, and Apple with over 900 million subscribers. Apple is not reflected in most reports because storage services are embedded in the ecosystem. Amazon and Dropbox are currently the leading B2B lines.
The smaller players that operate in the market include pCloud, BlackBlaze, FlipDrive, JustCloud, and more.
There are also newcomers - hosting providers that work on cloud storage services together with software companies like Microsoft as well as companies that design decentralized blockchain-based storage. This new market segment is now known as cooperative storage cloud.
For further analysis it should be noted that depending on the type of storage users can aim at SMB or large companies. They are also classified as public, private or hybrid [3] by deployment mode (figure 3). In the case of hybrid storage, one piece of data is stored on the server hosting provider in the public cloud, and other parts - on the company's private server that is leased for a long time. Such storage incorporates both public and private storage options so that clients can choose the privacy mode they need.
Figure 3. Data storage services
Growth drivers
The market is now experiencing increasing demand both from individuals and businesses. The latter (SMB in particular) uses a large cloud storage service to ensure uninterrupted business processes, improve customer support and abandon traditional IT infrastructure that requires substantial fees and professional expertise.
Large businesses prefer personal and hybrid storage that adds to the company's agility and flexibility while saving on infrastructure maintenance. The expected increase in demand in most industries (from manufacturing to mass media) is associated with relatively low data storage and processing costs.
Only 6% of businesses survive for more than two years after the loss of valuable data. Over 65% of [4] global businesses use cloud storage services to back up data. Strengthening data security and anonymity will broaden the target of PCS audiences due to manufacturing, finance and insurance, healthcare and retail companies, which refers to national companies and municipal enterprises.
It is also worth mentioning that the demand for hybrid storage continues to increase. They are relatively affordable and flexible in contrast to expensive private storage and unsafe public clouds with their regular data leak.
Basic trend
Currently the PCS market is experiencing the following trends:
- The share of personal storage in both the large enterprise and SME segments grew due to the inconsistencies and inconsistent quality of public storage
- Cloud service functionality is more advanced. It consists of editing documents, the opportunity to share secure files, teamwork, etc.
- Decentralized blockchain-based storage has increased in popularity
Market problems
Traditional cloud storage
Despite increasing market penetration, the demand for safe and reliable data storage is still not being met (this refers to businesses and individuals).
So far the market is dominated by major cloud storage vendors although the volume of data stored by their clients can vary, traditional cloud storage does not meet individual needs. The package price they offer means a fixed storage volume (eg 1 TB) and / or fixed period (eg 1 month).
The absence of encryption by design and the possibility of third-party data access still delays a lot of potential users (especially those coming from corporate segments). Not surprising given the number of reports of data leakage, theft, and compromised accounts.
In addition, centralized data storage leaves room for data scanning that is now commonplace because of the inner machine learning algorithm. The latter allows extracting data even from audio or video. This means that your valuable data may be stolen for commercial use or transferred to a third party.
Access is usually delayed for cold storage (long-term data retention that implies disposable footage and rare readings) compared to other modes. With most hosting providers, transferring data from cold storage to regular mode with instant access costs money.
Blockchain based storage service
Decentralized data storage on consumer devices solves security issues. However, they are not adapted to high load and work 24/7. This poses a particular risk to the customer:
- Data can not be accessed when PC is hosted offline
- Consumer devices are very vulnerable to corruption, so the possibility of high data loss
- Data access speed is potentially low due to the instability of the internet host channel
Thank you for your attention, hopefully what can be useful for my friends who read, umpteen.
More Information :
Website: https://market.space/en/
ANN Thread: https://bitcointalk.org/index.php?topic=2961359
Twitter: https://twitter.com/Market_space_
Author : kepodehkamu28
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