crypto-news-flash.com
- Web3 and the blockchain ecosystem are all about decentralization, yet the sector still almost entirely depends on centralized cloud services—Multi-Chain Storage (MCS) is out to change this.
- The solution, developed by Swan Network and integrated into Filecoin, allows users to rely on smart contract security and store their files on various blockchain networks.
When Satoshi Nakamoto launched Bitcoin, the aim was to give the world a decentralized alternative to the financial system that doesn’t rely on a few parties. More than a decade later, the industry still relies on trusted intermediaries and third parties to support its decentralized solutions. Swan Network is seeking to change this, at least with file storage, and is building a Web3-native solution on the Filecoin network.
Known as Multi-Chain Storage (MCS), it offers a fully decentralized storage solution that allows crypto and blockchain projects to break free from the stranglehold of a few central players.
As suggested by its name, MCS supports storage solutions on different blockchain networks. It utilizes smart contracts to offer enhanced security to users’ files; think of an S3 storage gateway on Amazon’s AWS, but with the added benefit of complete decentralization. This ensures that users have full ownership and control over their data and that they can’t be denied access or censored by a central entity.
Additionally, being multi-chain, MCS supports several blockchains from Ethereum to Polygon despite being deployed on Filecoin. This means that a user can back up a file on one network and use another blockchain to access and modify it, ushering in the era of interoperability that the industry has yearned for years.
To handle all the storage needs without a hitch, MCS scales seamlessly without compromising the quality of the data or the speed of access. Additionally, being multi-chain, it can adapt to the shifting conditions on each chain, from congestion and latency on some networks to a hike in transaction fees on others.
And while all these benefits are crucial to attracting users, they don’t mean much if the fees are sky-high. However, by utilizing the spare capacity of existing nodes, MCS cuts down on the costs drastically. It also optimizes its storage allocation depending on the demand and space on each chain, giving users the best deals possible.
Time to Switch to Decentralized Multi-Chain Storage (MCS)
Decentralized, low-cost, fast and available on several chains—these alone are enough to make any user switch from the centralized solutions. But what’s more, MCS allows users to store all manner of data, from images and videos to audio files and every other media format.
Users can also store PDFs, documents, all data formats, including JSON and CSV, and web development files written in HTML, JavaScript, CSS, Python and several other languages.
MCS has already attracted projects that are using its solution for a variety of use cases. One of the clients, Chainnode, archives snapshots of various public blockchains, preserving their data forever on the immutable Filecoin network. Another client, Lagrange, uses MCS to store and deploy code.