Block Chain Based Disk Space Rental System

EasyChair Preprint 13529

Abstract

        Now a days electronic devices such as  computers, smartphones and cameras produce enormous volumes of data each day,which require more and more storage resources.In order to fulfill this necessity, cloud storage renting systems were created.Cloud storage renting disk space allows people to expand their storage capacity without having to buy and maintain additional hardware.It can help users save money on hardware and reduce the need for physical space in their home or office.It can also be used to store large amounts of data in a secure and cost-effective manner.Renting disk space also allows for easier sharing of data between multiple users,making collaboration easier and faster.But here one of the main problem with cloud storage is lack of transparency and control over stored data.In other words,users are unaware of the exact location where their data is being stored,how and when it is processed or even whether their data has been lost or compromised.Another issue with such systems is lack of trust.

       To overcome these problems we use blockchain technology in disk rental system.This system is designed to be a peer-to-peer services were users can rent out disks to each other without the need for a third party immediately.We use smart contracts which automates rental process and answers that all parties involved follow the predefined values and regulator and also utilize the decentralized storage system to store rental contacts that all data is secure and unchangeable.Here we use proof-of-work (PoW) consensus algorithm.This algorithm is used to verify transactions and add new blocks to the chain and also solve complex mathematical problems.If this system is implemented,it enhances Security,Transparency,Lower cost, Automation and Improved efficiency.Finally, the system also provides a renting system to ensure that users are able to easily identify and reliable disk rental.

Keyphrases: Blockchain, Renting storage space, decentralized cloud storage

@booklet{EasyChair:13529,
  author    = {R Suganthalakshmi and T Elayadharshini and K Kamali and S Swetha},
  title     = {Block Chain Based Disk Space Rental System},
  howpublished = {EasyChair Preprint 13529},
  year      = {EasyChair, 2024}}