A Comparative Analysis of Consensus Algorithms for Decentralized Storage Systems

Blockchain has emerged as a revolutionary technology for various industrial applications of the next century. One of them is a decentralized storage system enabled by the corporation of Blockchain technology. In this context, Blockchain provides innovation to address traditional storage challenges by securely transmitting files through a fully decentralized network and eliminating the data failure risks that arise from a centralized structure. The decentralized storage system allows people to rent out unused hardware storage space and must prove that they store unaltered files. This study gives general readers an overview of decentralized storage technologies in various aspects, including background and technical details. Then, we explore the different consensus protocols used in the decentralized storage system. Finally, we discuss the various aspects of the Blockchain-based decentralized storage system.