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TheBlock 2020-12-09 12:00:03

Web3’s need for decentralized storage

Quick TakeBlockchain size growth reduces the potential number of nodes and increases the cost of data storage.8% of Bitcoin transactions have OP_RETURN with data as one of the outputs. 90% of them are from Veriblock and Omni.It costs roughly $20.2M to write 1GB of data to a smart contract on Ethereum with access to this data from the blockchain.Existing decentralized storage solutions do not allow smart contracts to read data from them due to the lack of blockchain interoperability.

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