OmniIndex’s Web3 Data Storage is provided by our Hybrid Blockchain. We chose this because of its security and privacy strengths, and our ability to fully integrate it into the leading productivity and collaboration tools. 

Definitions:

Web3 is a new stack of technologies for the development of decentralized web applications that enable users to control their own identity and data. These technologies include blockchain as a trust verification mechanism, privacy-preserving and interoperability protocols, decentralized infrastructure and application platforms, decentralized identity, and support for applications like decentralized finance.

Gartner

Blockchain technology makes it possible for two or more parties to exchange value in digital environments without having an intermediary validating the transaction. Like the internet once did for business, blockchain is a paradigm shift that enables entirely new opportunities.

Gartner

The OmniIndex Blockchain:

We selected the hybrid form of Blockchain because it incorporates the best of the public architecture together with the trusted access of the corporate. 

This is because the Hybrid Blockchain has an immutable data store that has a Merkle root to increase speed and auditability, has block placing and block security, and gives the corporate control of access for both ‘read’ and ‘write’. What’s more, while the access layer is sitting within an organization’s firewall, the Blockchain nodes can be spread across the network both inside and outside the firewall. This provides an almost insurmountable security wall for a potential hacker to have to overcome in order to gain control. 

When combined with OmniIndex’s patented technology including new ways of performing fast computations and search on fully encrypted data (FHE), OmniIndex’s Web3 storage provides:

A tamper-proof decentralized and encrypted data store ensuring ransomware protection and complete security and privacy for your most confidential, sensitive, and regulated data.