Centralized tech giants dominate the world of cloud computing today — but this decentralized platform believes the future may have an alternate path forward.
Industry analysts characterize traditional cloud infrastructure by its central points of failure and lack of data privacy. In fact, data protection and integrity are currently not a guarantee for any of the major cloud service providers. Even worse, “insider threats” are still known as one of the most common ways private data is leaked.
The team behind Ethernity Cloud is entering the space of cloud computing with a different approach. By removing the middlemen, it intends to leverage the power of distributed ledger technology to create a decentralized cloud computing platform that focuses on data privacy and security.
When asked about his vision for the project, Iosif Peterifi, CEO and founder of Ethernity Cloud, shared, “Decentralized confidential computing is the natural next step toward the evolution of blockchain, amplifying performance while preserving your privacy on the Internet.”
The future of cloud computing infrastructure
The team behind Ethernity Cloud believes that the key to a successful decentralized cloud computing platform is a reliance on user data that is heavily encrypted, confidential and hosted on a network of interconnected computing systems. These systems may be a home computer, data center or any other server.
Essential to the success of the project is a strong blockchain, which is currently believed to be Ethereum. According to the team, the technology backing Ethereum has reached a level of maturity capable of running decentralized applications and smart contracts.
In place of the middlemen, which are the cloud service provider companies in this case, the Ethernity Cloud team plans to leverage smart contracts. Each node in the system is programmed to obey the smart contract, meaning the user’s software and data will be run exactly as implemented. Additionally, due to the self-replicating nature of these nodes, the user’s data can also run forever (in theory).
Another key feature in the proposed Ethernity Cloud project is its continuous availability. Multiple instances of the same node are able to run at the same time. Therefore, if one instance were ever to fall, the others would be ready to resume service. For this reason, the uptime service level agreement of a decentralized cloud will be improved from current systems which rely on constant hardware maintenance.
Furthermore, the transition between centralized and decentralized cloud computing has been a focal point for the company, which is striving to make the transition to the decentralized cloud as smooth as possible for all users, enthusiasts and developers.
More insights from ethernity cloud
A step into the future
In June, the company completed its first presale. During this sale, the minimum investment package was set to $5,000, with a total of 53 million Ethernity (ETNY) tokens available for sale.
The conclusion of the private sale was followed by partnerships with the Bank of Memories, a smart repository, and the Institute for Internet Security, a scientific facility. Ethernity Cloud is also a member of the Confidential Computing Consortium that includes companies such as Google, Facebook, Intel, Microsoft and others. Partnerships like these will be essential in guiding the company toward its mission, which is “to restore user data confidentiality and foster data sovereignty.”
Currently, the team’s focus is on “the ICO (public sale),” which is scheduled to occur at the end of Q3 of 2021, even though the Ethernity Cloud team has not yet confirmed an exact date. With feedback from the community, efforts have been made to develop various packages with the intention of extending the pool of eligible participants.
At the same time, the team shares that experts will continue to work on the technology, including the Ethernity Cloud full node encryption in Q4 2022. Continuous efforts are also being made toward its ongoing European patent application.
Learn more about Ethernity Cloud
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