Today’s data storage solutions are very limited. Centralized servers lack security and require high maintenance costs. Blockchains provide decentralization but are expensive for data storage and never allow data to be removed. The InterPlanetary File System (IPFS) is currently the best decentralized data storage option, but the way it works makes it difficult to find data.
So, how do we solve this? Decentralized web naming system Butterfly Protocol is announcing a decentralized storage solution that improves upon blockchain technology and IPFS to help developers inexpensively build and operate complex decentralized applications. Whereas building DApps on most blockchains requires high fees, Butterfly’s solution adds a layer to IPFS to simplify data storage while maintaining accessibility and verifiability.
Building on existing technology for improvement
Butterfly Protocol builds upon existing decentralized technology like IPFS and Ethereum to provide developers the tools they need to build complex apps without centralized authority. This solution is designed to support the way today’s modern apps operate, and to facilitate further development on the decentralized web.
Until now, IPFS was the best option for decentralized data storage, but IPFS makes it difficult to find data, since any change requires a new content id. Users can reference IPFS data by public key using IPNS, but the user must rebroadcast the pointer, and using traditional DNS with IPFS requires changing DNS records any time the data changes.
Butterfly Protocol’s data storage solution improves upon IPFS, adding a layer that allows for ordered, signed updates. This allows indexers to exchange lightweight data commits directly, or through hashes on a blockchain, and reach eventual consistency. With Butterfly Protocol, users can access data as easily as they can on a blockchain, but old data fades away if it’s no longer needed.
Beyond data storage, Butterfly Protocol also offers a blockchain-based web naming system built for the decentralized internet. Under the control of ICANN, DNS and top-level domains are delegated to gatekeepers like GoDaddy, Google Domains, and Bluehost. With centralized control of the internet, censorship has become widespread, even in nations that purportedly support the freedom of information. Butterfly is part of the movement to confront this by building a decentralized internet.
Private, secure alternatives for web browsing, search and messaging are quickly gaining traction. Decentralization is becoming more and more attainable. Whether you want to own your personal domain forever, or you want to create an ecosystem of DApps, Butterfly gives you the framework and flexibility to do that.
Unlike the root name servers of ICANN’s centralized DNS, Butterfly Protocol’s Decentralized Autonomous Organization (DAO) allows anyone to suggest, sponsor, or bid on the creation of new Top-Level Domains (TLDs) and receive a share of tokens associated with the name, which they can use to create subdomains, or DApp ecosystems without third-party oversight. Beyond domain names, Butterfly allows for each domain address to be used for several unique functionalities, including cryptocurrency transactions, messaging, and social media.
Storage and domain naming are both central to the decentralized web. With tools like Butterfly’s, developers inexpensively build and operate complex decentralized applications. Many companies in the blockchain and emerging technology sector are creating new ways to lessen reliance on centralized servers. This will create a future where data storage is less expensive, more secure, and easier to manage. The future of data storage is decentralized.
Butterfly Protocol improves upon blockchain and IPFS to help developers inexpensively build and operate complex decentralized applications