Protocols to reshape core parts of Internet infrastructure and program technology. We look forward to seeing the ecosystem evolve over time as these Deliveries, and we believe they're one of the most fascinating uses of blockchain bringing these technologies to market. Blockchain technology has created the first opportunity to rethink cloud Centralized servers containing sensitive or valuable information. Network effects are minimal beyond a certain level of scale. Unused hardware is already a sunk cost for most users, so there is no supply side “scale which should result in lower prices. Moreover, storage suppliers will gravitate to the marketplace with the highest prices. If demand exceeds supply in any of these distributed storage markets, prices will increase, causing suppliers to change to networks where they could earn more profit. As these protocols are available and permission less, 3rd parties will build utilities that monitor prices and automatically shift providers between networks to maximize profits. This will have the effect of equalizing costs across networks through negative feedback cycles. Analogous tools are available now for mining. It's very likely that prices will equalize across all these platforms over time. The less-popular protocols won't die off completely, but they will likely experience little price growth.
As people continue to create countless petabytes of data, the question is about Storage on a technical level and as an economic system by solving these significant problems. Blockchain-based decentralized storage is cheaper, more secure, faster, censorship resistant, and much more distributed than present cloud storage solutions. It leverages the fact that massive amounts of storage space sits unused on people's hard drives around the world making a market for this allows people to market their spare storage space. The influx in distribution into the worldwide storage market will drive down storage rates. To do this in a secure, trustless, peer-to-peer fashion is the promise of this blockchain itself. Targets for hackers, as we watched the Rackspace hack, these systems are just as secure as the measures set up by the companies running them. Even the world’s greatest and most funded tech teams cannot protect themselves. The fact that each of these companies actually takes custody of customer data means that there's always danger of theft.
Data, to provide users' data to authorities or other law enforcement agencies, or even to sell customer data to advertisers. They are central points of failure which are targets for nefarious actors and therefore are inherently fragile. Earlier this year, as an example, a human mistake by a standard employee caused several prominent websites to temporarily go offline. It will come to owning a significant share of the cloud storage market. Other protocols may offer better services for specific use cases and will likely be competitive on price nor will they provide computation power. The addition of decentralized protocols into the cloud storage market will probably cause prices to collapse; asset valuations in the space must take that into account. Other variables like token velocity, ease of use, and market timing and should also be considered. The decentralized cloud storage marketplace DXchain is currently the project most likely to succeed, and we expect these firms also have broad jurisdiction to censor individuals or and data has become the world's most precious resource.
Society is transitioning from the industrial age to the information age, we are excited about the possibilities offered by decentralized cloud of where and how to store it becomes increasingly significant. Migration from on-premise storage into cloud storage has been the major theme of the last decade, and the trend is accelerating. The tech giants currently dominate this market. Big Players each control a huge share of the world's data. But this existing system leaves much to be desired. It's insecure, expensive, centralized, and involves putting a lot of trust in these large
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