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3 Ways Cloudscene is Helping Crypto Companies to Connect

3 Ways Cloudscene is Helping Crypto Companies to Connect

[Network Connectivity] April 26, 2022 1 AM

As our day to day lives become increasingly digital, it’s no surprise that a phenomenon like cryptocurrency continues to rise in popularity. As of 2021, it was estimated that there were over 300 million crypto users worldwide, with more than 18,000 businesses accepting cryptocurrency as payment. While the demand for cryptocurrency shows no signs of flagging, the industry is not without its challenges. In this article, we will explore the Top 3 challenges of cryptocurrency and discover how the Cloudscene platform can help to mitigate these issues. 

Challenge #1 Security 

Although crypto and blockchain technology is generally considered highly secure, almost USD 2.66 Billion has been stolen from trading platforms since 2012. As more cryptocurrencies turn to hyper-scale data centers to optimize the performance of their mining hardware, the demand for rigorous security measures has never been higher.  

When selecting a data center provider, cryptocurrency firms need to ensure that the operator has sufficient risk management and resiliency strategies in place to protect their data. Data centers need to be invulnerable against cyber attacks, hardware failures, power outages and physical attacks; while also prioritizing excellent employee security in their facilities. 

Cloudscene partners with over 9000 data centers worldwide, enabling cryptocurrency organizations to easily and instantly compare thousands of industry-leading providers. With Cloudscene, crypto companies can thoroughly vet data center operators  before choosing to work with them and clearly outline their unique security requirements. 

Challenge #2 Regulation 

The legal status of cryptocurrency varies significantly depending on the country. Some countries have placed limitations on how it can be used, others are still trying to determine how it works, while some nations have banned cryptocurrencies altogether.  

Government regulations surrounding crypto are constantly changing, forcing many companies in the sector to alter where and how they operate with little notice. This unpredictability is yet another reason crypto organizations are shifting towards data centers and colocation services to host their hardware in viable (and legal) geographical locations. 

Cloudscene can help to facilitate this practice by enabling crypto firms to search for data centers by location. For example, if a company wants to find a data center in the US, Italy and Australia, they’re able to instantly search and connect with data center operators that can meet their requirements. .  

Challenge #3 Power

Cryptocurrency mining requires a staggering amount of electricity to function. Data centers facilitate crypto mining by providing state of the art cooling techniques, extensive rackspace and have the scalability and redundancy needed to expand. When selecting a data center or colocation provider, their bandwidth capabilities are as important as their security practices and location.

With Cloudscene, crypto organizations can create a ‘listing’ for their requirements, wherein they outline their exact needs in terms of security, location and power. Providers can view these listings and respond to them with 'bids' that outline their suitability and provide a quote for their services. If both parties are comfortable with the terms, the agreement can proceed. 

This process ensures that cryptocurrency firms connect with vendors that meet their unique requirements and can support them as the industry continues to grow. 

Get in touch with Cloudscene

As we’ve established, Cloudscene can help the cryptocurrency industry in a variety of ways. Whether you need internet, network fabric, colocation or cloud-based services, simply outline your requirements, and we’ll connect you with a vendor that's right for your business. 

Want to learn more? Get in touch with our friendly team to explore the platform and see how we can help your team save time and money on network services.

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