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This is the on-demand webinar on decentralized cloud computing on the blockchain, presented by Covalent. Over the next 20 minutes, we’re going to deep dive into why the decentralized cloud computing space matters. We’re then going to define what makes up the sector, what the end users and markets care about. How is decentralization addressing these market needs? What is disruptive about the decentralization thesis, market sizing and sector ranking, and analysis of the top players on the blockchain. Finally, in conclusion, the strengths, weaknesses, opportunities, and threats that face the sector over the coming years.
Hi, I’m Ganesh Swami, and I’m the CEO and co-founder of Covalent. At Covalent we use data to cut the noise and bring transparency to the crypto market.
Crypto today is in a very interesting juncture. Without data, it’s difficult to know what to pay attention to and what to ignore. With our data-backed research, we bring a strategic vantage point to you that has never been done before. This understanding and transparency is critical for mass market adoption of crypto.
Our research methodology is based on the AUDIT method. An acronym that stands for Actionable, Understandable, Data-driven In-depth, Timely information. To learn more about the AUDIT method, take a look at the accompanying material.
Some of the featured platforms on this webinar are Ethereum, NEO, EOS, QTUM, and LISK. We’re only focused on post-ICO companies and therefore, these companies and tokens are actively trading and being used on the blockchain.
The first question you must ask is why pay attention to the decentralized cloud computing space? The cloud computing market is absolutely massive because instead of using on-premise and pre-provisioned resources for compute, storage and networking, you can use third-party servers from Amazon, Google, Microsoft, and IBM. In 60 or so years of the IT industry, cloud computing would be the third compute model. The first being centralized mainframes, and the second being client-server PCs. A third compute model is a pretty big deal. Overall, all other major technologies like smartphones, Internet of Things, analytics and AI rely on their connections to cloud-based data. Cloud computing is a pretty big deal.
For all of its plus points, cloud computing has one or more disadvantages. There’s a single point of failure when the provider goes offline. The ability to censor or mask content and no real economic incentive to reduce prices. Though the cloud computing market is competitive, just three companies, Amazon, Google and Microsoft control over 90% of the market. In the decentralized version, computing platforms enable marketplaces that allow server owners to rent out their idle compute capacity. It remains to be seen if the Decentralized Cloud Computing can disrupt the incumbents.
The next topic we’re going to explore is what end users of cloud computing care about. At Covalent, they’ve assessed the market needs according to five key factors, cost, elasticity, uptime, data security and standards compliance.
Managing costs is an important concern as software infrastructure costs today are quite considerable. Costs saved by adopting innovative technologies can be reinvested in the business for transformative purposes.
The second key point is elasticity. Elasticity basically refers to the investment required to request new capabilities whether it be more storage space or new software licenses. Elastic platform reduces the delay in getting access to new capabilities and business decisions can be implemented immediately. Elasticity removes the need for planning compute needs in advance by enabling a need-based provisioning system.
The third key point is uptime. Continuous uptime has a major role to play when it comes to trust and continuity in any business. All your hosted services should always be online. Uptime is really critical for businesses, any service going offline can have devastating effects.
The fourth key point is data security. However great a computation platform may be, it is pointless if it’s not complemented by exceptional security. Centralized platforms are currently meeting the needs of the world but there’s a big cybersecurity risk due to the existence of a single point of failure. Decentralized platforms overcome this as they offer excellent security through the use of smart contracts.
The fifth key point is standards compliance. A lot of investment goes into making sure the final product is standards compliant. Cloud computing giants offer compliance tools, but they incur additional costs for every regulation or standard, thus leaving the user at a disadvantage. Users want their systems to talk to each other without having to buy additional adapters.
Thank you for watching Covalent’s webinar. We have data-backed research reports on a variety of different sectors like decentralized cloud computing, file storage, sports betting and gambling, currency exchanges, e-commerce, privacy and security and decentralized social media. Feel free to reach out if you have any questions. Hope to see you around.