Storj (STORJ)

Rank #1134

Storj (STORJ) is an open-source platform that uses blockchain to offer cloud storage with end-to-end encryption. Instead of operating its own data centers, the network uses a peer-to-peer model, connecting people or entities that share storage space. The goal is to make sending and accessing files faster, at lower costs, with a focus on data security and integrity.

How Storj works

At Storj, data storage and retrieval depend on a decentralized network of participants that provide capacity. This approach replaces the traditional logic in which a central provider defines the service conditions. As a result, the platform seeks to create an alternative way to store files with more control over security aspects.

Technology and network

The project combines the use of blockchain with cryptography to protect data throughout the storage and access process. Storj also employs technologies and methods to support performance in sending, retrieval, and processing of information. The intention is to balance speed with the preservation of security and integrity.

Origin and development

Storj Labs Inc was founded in 2014 by Shawn Wilkinson, with co-founder John Quinn. The company is headquartered in Atlanta, Georgia, in the United States. In March 2018, Shawn stepped down as CEO to serve as CSO, and Ben Golub became Executive Chairman and Interim CEO, while John Quinn was appointed Chief Revenue Officer.

STORJ token and acquisition

The token supply was fully pre-mined at the beginning, and there is no creation of new tokens via STORJ mining. Even so, it is possible to obtain STORJ by participating as a farmer in the network, or through trading on cryptocurrency exchanges. Storj Labs also promoted a conversion campaign to allow the exchange of SJCX tokens for new tokens at a 1:1 ratio.