ResMintage: Leveraging Blockchain Technology to Share Hardware Resources

Abstract

Data storage and protection are key concerns in today's world. Organizations have increased their network infrastructure to provide cloud storage and resource access to as many individuals as possible, which raises issues about the privacy of data stored or shared over a network. A centralized authority cannot manage such a vast data network. Cloud storage and other data infrastructure are becoming increasingly expensive as demand grows. Cases of data breaches and attacks have been recorded year after year, and the numbers continue to grow. Many firms, including LinkedIn and Facebook, have experienced massive data breaches in recent years. Another issue discovered was that idle hardware was not being used by many local computers. Although there are people and organizations with surplus local storage capacity, many organizations are looking for additional cloud storage. To address the aforementioned issues, this paper proposes a solution that uses Blockchain Technology to enable individuals or organizations to share hardware resources. Blockchain employs a peer-to-peer design. As Blockchain employs cryptographic techniques, it has the highest security factor of any system. This paper proposes a system in which users can share their local resources with users in need via a blockchain because there is a clear supply and demand requirement for resources. Users that share hardware resources will also be rewarded. There will be no need for any central authority to manage the data or the data kept with the shared resource with blockchain, preserving user privacy and security.