You are probably already somewhat familiar with cloud storage, i.e. saving files and photos online for later use, but did you know that cloud storage can also be used? to protect your expensive digital assets?
NFTs (Non-Fungible Tokens) are probably the most trending, hyped and sought-after assets on the market today, with every influencer and their mother deploying NFT mints and top creators raking in millions in profits. For many, NFTs represent a milestone in digital ownership – previously an almost impossible feat. For the first time ever, people can own things like digital images, videos, GIFs, and even video game items.
But what are you actually buying and how is it stored safely? Do you even know or is it stored? Essentially, purchasing an NFT means attributing metadata (unique characteristics of the digital asset) to the user. Therefore, owning the metadata means owning the digital asset it represents. As shown by Australian Geoffrey Huntley, who created the NFT Bay websitethe images represented by these metadata elements are often stored on web servers whose security is far from tight.
Theft protection is crucial to maintaining the value and security of your NFT. If you physically owned millions of dollars worth of artwork or had an impressive collection of vintage wines to brag about, you would hopefully spend a lot of time and money picking out the perfect spot. to store them safely, rather than leaving them lying around carelessly. , is lost and depreciates.
The same concept applies to the protection of NFTs via high-security digital storage. When you buy an NFT, the token itself exists on the blockchain and therefore the NFT token data is on decentralized storage. But as the use of cloud storage is increasingly used to store valuable assets, the occurrence of cyber theft and data loss has also seen a corresponding increase.
Cloud technology is certainly poised to be the future, and advancements in cloud technology will hugely define how we interact online over the next decade. It should be noted that cloud storage platforms differ in terms of security and therefore the level of protection they can offer your valuable digital assets. The process of storing an NFT in a location other than the artist-supported original is getting into the weeds of Web 3.0 (a vision of a new blockchain-based Internet that is gaining popularity among crypto enthusiasts and NFT), so we’ll leave that for another article. What is simple to understand, however, is the growing interest in storing NFTs in new locations after purchase. The files that your NFT token finds on the internet are usually hosted in pre-selected addresses by the NFT creators themselves. These can pose a security concern in situations where the owner closes the store or the address is compromised. The pirates are already steals NFTs.
Some cloud storage providers offer decentralized encryption, where the digital file itself is not encrypted; instead, the file is broken down into data fragments and stored at different addresses, thus providing protection even when a hacker manages to get their hands on one of the files because the other fragments are still missing. Other platforms offer fully centralized encryption.
An example of the latter is treasure cloud, which offers zero-knowledge cloud storage and client-side encryption, even for cold storage modes, which basically means that all your data is fully encrypted and cannot be viewed by anyone without your unique encryption key, not even Treasure. Not all cloud providers offer this, but think about it. Full encryption is an essential security feature, especially when storing and sharing confidential data and expensive NFT collections, making treasure cloud unique in its security offerings. Treasure was built on the principle of respecting data privacy, giving you the flexibility to use your existing cloud storage providers in one place.
Register for Treasure Cloud storage for complete security and privacy peace of mind, knowing your data is safe at all times.
And it’s better. If you are happy with Treasure Cloud’s offerings, earn more rewards and incentives such as 10GB of extra storage on top of your existing plan for each person who signs up when you refer friends to sign up too a storage plan! Click on here for more information on the Treasure Cloud referral program.
To learn more about privacy and data security issues, data protection, how to securely share data online, or simply learn more about the people behind Treasure Cloud, please visit their Blog.