Traditional centralized cloud computing has become a consolidated market with heavy-weight incumbents making penetration by new market entrants difficult. As a result, the offerings are high-priced and often locked into other cloud services from the same provider. Further, the complex nature of cloud configuration and the centralization aspect has made data security an emerging risk. Over the last few years, the decentralized cloud market has emerged with the goal to displace public cloud service providers with cheaper, more secure blockchain-based compute and storage alternatives. ABI Research has identified the 15 hot tech innovators in the space that are already kicking up a storm in the cloud space: 0Chain, ælf, Ankr, DFINITY, Ethernity, Edge, Filecoin, iExec, Internxt, Golem, PPIO, Oasis Labs, Sia, Sonm, and Storj.
Together, these innovative startups have amassed over $600 million in funding in just the last 3 years, through VCs and token sales (initial coin offerings). “The technology being built promises significant cost benefits over traditional offerings from existing cloud services, with containers, blockchain, and trusted computing being leveraged for security as well as simplicity. As the startups launch their mainnets and commercial offerings, the cloud market is likely to undergo significant upheaval,” says Michela Menting, Digital Security Research Director at ABI Research
The technology leveraged is relatively new and untested, with founding developers looking to improve on existing blockchain technologies used in applications like Bitcoin. “The startups in the space are developing the infrastructure and the networks to be more power-efficient and scalable, as well as more resistant to common blockchain vulnerabilities such as 51% attacks, consensus delays, selfish mining, smart contract, and Denial of Service. Critically, they are set to give traditional cloud providers a run for their money by offering significantly lower price points for cloud services. They are achieving this by leveraging a network of peers to offer spare computing power and storage capacity in exchange for token-based incentives,” Menting concludes.
These findings are from ABI Research’s Hot Tech Innovators: Decentralized Cloud Computing and Storage report. This report is part of the company’s Blockchain & DLT research service, which includes research, data, and ABI Insights. Hot Tech Innovators reports focus on companies at the forefront of transformational innovation, particularly those that are younger and less well-known than the incumbents, at the technological forefront of their markets, developing new business models, destabilizing the current market and prime acquisition targets.
About ABI Research
ABI Research provides strategic guidance to visionaries, delivering actionable intelligence on the transformative technologies that are dramatically reshaping industries, economies, and workforces across the world. ABI Research’s global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors.
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.
About ABI Research
ABI Research is a global technology intelligence firm delivering actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today.
ABI Research提供开创性的研究和战略指导，帮助客户了解日新月异的技术。 自1990年以来，我们已与全球数百个领先的技术品牌，尖端公司，具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
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