Cloud service providers solved a range of problems at their time. However, while operating in the cloud, users exposed themselves to a new set of worries. Data security and privacy, applications’ uptime and confidentiality to name a few. As the number of data breaches increased, solutions became imminent.
A confidential and robust network
Ethernity CLOUD is one of the few blockchain endeavors in the area of private and confidential computing. Starting from the assumption that privacy is a human right, the project’s aim is to deliver a platform that enables private processes in a decentralized manner distributed by smart contracts.
From the start, the project’s main focus was laid out — build a trustless environment. To this extent, Ethernity CLOUD deploys a layer-2 solution on which secure encryption and hashing algorithms are used to ensure data confidentiality.
This is complemented by a decentralized network of nodes that ensures robustness, availability with virtually no downtime. This way, users will be able to save costs.
How it works
The Ethernity CLOUD ecosystem has been designed with two types of users in mind. The operators and the customers.
Operators are the users who run nodes and enhance the network. With an average computing unit and the right setup, anyone can become a node operator. In exchange, they are rewarded with ETNY utility tokens. In other words, Ethernity CLOUD is democratizing the access to the network, giving users the opportunity to get a passive income source.
At the other end of the ecosystem are customers — business or research institutions. These are the users who need access to the Ethernity CLOUD network in order to run applications in a decentralized manner. For this, they will have to purchase the computing power directly from the node operators. As an extra security measure, Ethernity CLOUD’s ecosystem offer a rating system based on the good reputation and quality of service of each node provider.
Use cases
The digital world is in the middle of a revolution. Experiences are re-interpreted, re-thought, re-designed. It’s the food we order, the things we buy, the games we play, the education we get, it’s how we stay in shape. There is virtually no ground the digital hasn’t crept into.
At the base of everything is data. Some are more sensitive than others. On a personal level, user identifiers such as the physical address, name, date of birth, and financial details are as sensitive as data gets.
Protecting data is where the Ethernity CLOUD shines. Imagine a bank that runs its applications on a confidential network rather than in the conventional cloud. Having a proper encryption algorithm standing in the way of a hacker accessing people’s bank details — accounts, acquisitions, savings — is meant to offer some extra peace of mind to the end-users.
Current status and outlook
At the moment, Ethernity CLOUD is actively expanding its Testnet. Sources tell us that the roadmap shows a few exciting events this year. The Mainnet launch is also on the horizon but details are still under wraps. When it comes to the future, one thing is certain according to the Ethernity CLOUD — decentralization and data privacy will be engrained in the fabric of the internet.
