What is Decentralized Storage? (IPFS, FileCoin, Sia, Storj & Swarm)

Decentralized storage has fascinated me for a while after coming across the Filecoin ICO which raised over $250M dollars with leading investors such as Y Combinator, Naval Ravikant, Andreessen Horowitz, Union Square Ventures Sequoia and Winklevoss Capital. Considering how much they raised, there must have been a reason as to why industry leaders are betting on its success so…