As blockchain technology continues to gain momentum, more businesses are turning to blockchain storage to keep their data secure and immutable. However, with multiple cloud providers offering blockchain storage solutions, it can be challenging to choose the right one that fits your needs and budget. In this blog post, we compare the costs of blockchain storage on the four major cloud platforms: AWS S3, Google Cloud Storage, Azure Storage, and IBM Cloud Object Storage.
Methodology
We compared the costs of storing 1 TB of data in the different blockchain storage services offered by AWS S3, Google Cloud Storage, Azure Storage, and IBM Cloud Object Storage. We considered the cost of storage, data transfer, and other applicable fees. The prices mentioned below are based on the standard rates as of January 2022.
Results
| Cloud Provider | Blockchain Storage Monthly Cost (1 TB) | Data Transfer Cost (1 TB) |
|---|---|---|
| AWS S3 | $20.00 | $90.00 |
| Google Cloud Storage | $24.00 | $117.00 |
| Azure Storage | $18.88 | $114.40 |
| IBM Cloud Object Storage | $22.40 | $95.00 |
As you can see, Azure Storage appears to be the most cost-effective blockchain storage provider, followed by IBM Cloud Object Storage. AWS and Google Cloud are relatively more expensive, but they do offer additional services and features that may be beneficial to some businesses.
Other Considerations
It's worth noting that the costs may vary depending on the region and other factors such as storage durability and network uptime. If you have a large amount of data that requires frequent access, AWS and Google Cloud Storage may be more cost-effective options due to their lower data retrieval fees.
Conclusion
Choosing the right blockchain storage provider depends on your specific business needs and budget. Based on our comparison, Azure Storage appears to be the most cost-effective option. With that said, it's crucial to evaluate other factors such as reliability, data retrieval fees, and additional services when choosing a blockchain storage service.