What is The Total Market For Cloud Storage And How GenesisX Will Take On It
It is estimated that the cloud storage market as at 2017 was valued at $30.08 billion and it is predicted that before the end of the year 2023, the market would be valued at $101.59 billion. It is also predicted that before the end of the year 2022, that over 72% of organizations would have migrated to cloud from on-data centers. The cloud storage market happens to be one of the growing markets in the world and more organizations and individuals are developing several applications and softwares to ensure that the market grows. At the same time, most applications have been developed to solve some of the main problems that are facing the market.
The creation of various cloud storage platforms has enabled complex business models at the same time creating an opportunity for a global-based integration in the coming years. One problem that has plagued the cloud storage market for a long time is that of anonymity and security. The GenesisX platform has been developed to offer a better and more advanced cloud storage platform.
Basically, the GenesisX platform has been referred to by experts and crypto enthusiasts’ alike as a platform that seeks to provide users all over the world with a network to carry out incredibly fast transactions on a transparent, secure, anonymous and democratic network. The GenesisX platform seeks to eliminate any form of attack that cryptocurrency networks might face by adopting and implementing the 2FA (Two-Factor Authentication) system.
The GenesisX platform seeks to bank on the ever-growing cloud storage market by providing a storage platform or solution that will enable users to store, download, upload and at the same time transfer files anonymously and securely. The GenesisX platform has been compared to a storage platform called “Dropbox” which enables users to store and transfer data safely. The main difference between the GenesisX platform and the Dropbox platform is that the former seeks to offer 100% anonymity when accessing and making use of the storage platform. The GenesisX platform is also seeking to integrate end to end encryption which will enable them to create a completely secure cloud storage platform or solution.
To ensure that the GenesisX platform is an advanced and more efficient cloud storage platform, the developers have implemented certain changes which include;
• The platform has implemented the 2FA system which will ensure security on the storage platform.
• Users will be required to input a password and username
• All files that are uploaded on this platform will be encrypted using a password
• Users can transfer files within the network or system to people through email.
On the cloud storage platform of the GenesisX, all Masternodes will have access to the XGS Storage with a 1 Gigabyte (GB) storage allocation. Users that want to make use of the XGS Storage will have to register and also pay a certain amount of either the XGS coin or any fiat currency of their choice. While the XGS Storage will offer users a private storage platform, the price would not be as high as that of other players in the cloud storage market. The XGS Storage will enable smaller companies and businesses to take advantage of their storage platform as the price is low when compared to top cloud storage providers like Microsoft and IBM. The price for each storage allocation on the XGS Storage will range from about $20 to $200 depending on the amount of storage allocation which also ranges from about 500 megabytes (MB) to over 1 Terabyte (TB).
The files to be stored on the XGS Storage will not be seen or accessed by anyone, not even the GenesisX platform. Although, if the platform has any clue that illegal contents are stored, the account will be suspended.
The GenesisX platform is also seeking to solve another cloud storage problem by developing a platform called “XGS Block Storage”. This platform will enable users on the platform to be able to not only make transactions but also send files while making those transactions. In a nutshell, the GenesisX platform is seeking to introduce two storage platforms. The first is an online cloud storage platform that will enable users to store, download, upload as well as transfer files privately. The second will be a wallet that has a transfer system incorporated into it. This storage wallet will come with password protection as well as set time access.
With these two storage platforms, the GenesisX will ensure that the cloud storage market keeps growing and that more features are added to ensure the further growth of storage market.
