Introduction
Cloud computing is quickly becoming a major part of most businesses and organizations. It is now a business sector on its own as it generates high revenue of up to several billions of dollars annually. If its demand and relevance continue in this upward trajectory, it is expected to grow by about 16% each year. Despite these impressive indices, there are still problems that threaten the technology of cloud computing. The relevance of cloud computing has never been in doubt, but it needs more innovations and better services. Customers and providers need to get maximum value from their involvement.
Here are some of the common predicaments faced in most cloud computing platforms and how HiveNet solves them.
Market monopoly:
Providing cloud computing services requires lots of sophisticated hardware, extensive resources, and personnel. These expenses are why only established brands like Microsoft or Amazon are currently providing them. At such, they readily hike the price for maximum profit. Most customers are left with no choice but to accept these prices. Unfortunately, it is way more expensive for customers to provide their computing services. As it stands, over 70 percent of the profit from Amazon as a corporation is from its cloud computing services. The presence of HiveNet in the market as a decentralized startup increases the level of competition. The nature of its operations also motivates other startups in this sector.
Expensive services:
As earlier highlighted, cloud computing services require advanced facilities. In other to maintain this hardware, logistics like cooling and maintenance need to be properly considered. This is why cloud computing services are usually costly. Fortunately, HiveNet overcomes most of these issues. It banks on the computing power of idle computers all around the world. Office computers enjoy close to 128 idle hours per week. So the network depends on existing facilities in the form of provider’s computers. With this reduced cost of service provision, it is one of the cheapest out there. Also, it financially empowers computer owners. When computer owners offer the computing power of their idle computers, they get paid.
Increasing need for more facilities:
As the demand for cloud computing services increases, more hardware would be required. This creates a strain on the environment and available resources. For this reason, HiveNet utilizes only existing equipment in the form of computers. It maximizes the use of resources instead of creating more.
Unsecured data computation:
Most of the traditional cloud computing providers use centralized clouds. In these clouds, the system stores and analyzes customer’s data. A lot of resources are invested by these providers to ensure security. But their centralized nature makes them vulnerable to hacking and cyber-attacks. HiveNet solves this by using the blockchain technology where Stakers’ computers serve as nodes. The network relies on the secured Proof of Work consensus system.
Conclusion
Cloud computing is a growing global technology with a high level of demand. These demands can become frustrated when customers keep facing the same set of challenges. HiveNet offers technological solutions to revamp the system of cloud computing.
Website: https://www.hivenet.cloud/
Telegram: https://t.me/hivenet
Facebook: https://fb.me/HiveNetCloud
Twitter: https://twitter.com/HiveNetCloud
AUTHOR'S DETAILS
Bitcointalk Username: Ebubuemma
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2568952
