Decentralizing Privacy Using Blockchain to Protect Private Data and Challanges With IPFS
M. K. Manoj, Somayaji Siva Rama Krishnan · Advances in finance, accounting, and economics book series · 2019
Blockchain technology is a distributed framework for sharing data that is validated through cryptographic functions. The nodes of the network come to a consensus regarding addition of data to the blockchain. Every blockchain operation requires a processing fee. This fee makes storing of large data on the blockchain infeasible. An indirect alternative for this challenge could be use of IPFS, which is a decentralized peer-peer network that facilitates storage of file. This is accomplished by storing the hash of the IPFS as data on the blockchain.