Storj is a decentralized data storage project. They encrypt the files before splitting them amongst nodes all around the world offering high security, privacy, fast delivery, resilience against hardware failure, and a much cheaper alternative to conventional cloud storage.
A significant portion of the data accessed through the internet is concentrated in data centers held by a small number of technology firms e.g. Alphabet (Google), Amazon, Microsoft, etc.
These centralized data centers face some problems:
- Privacy – Data that is stored in a standard format
- Security – data breaches (hackers stealing information),
- Downtime – the buildings sometimes not working properly,
- Costs – costs of running them (cooling, maintenance, upgrades, etc).
- Scale – Difficult, expensive and lengthy to rapidly increase the available storage.
Storj brings all the benefits of an open-source, decentralized, peer-to-peer network to data storage. It was created with the simple idea of putting unused resources to work for the purpose of making storage safer, faster, and more affordable.
- Security / Privacy- Every file is encrypted (inc metadata), split into 80+ smaller pieces, and distributed on a global network of nodes (over 16,000), making data breaches and downtime a thing of the past.
- Performance – They offer lightning-fast performance that traditional cloud storage simply can’t match. By using a decentralized, global network they can deliver the data from the nearest nodes rather than it having to come from centralized data stores.
- Price – With no costly data centers to operate, they can pass those savings your way at up to 90% less than traditional cloud storage.
By offering payment in its token, Storj incentivizes those worldwide with unused computer storage and internet access to become a ‘node’ and make it available for use by the Storj network.
There are a number of cryptocurrency/blockchain-based competitors (see similar companies):
- Internet Computer Protocol
but the main market leaders are the large technology companies:
- Alphabet (Google)
STORJ Token is an ERC-20 utility token, used as an exchange of value in the Storj ecosystem. Storj Token is used to send and receive payments worldwide for minimal costs and no currency conversion fees. It also makes a simple payment solution for customers.
It has a total of 425 million tokens.
Become a node operator.
Power the decentralized cloud and get paid for your unused disk space and bandwidth.
Quilt Data, Inc.
President and CEO
President and CEO
CMO, SVP of Marketing and Government Affairs
General Counsel, VP Compliance and HR @ Storj Labs
Director Of Compliance Regulation @ Coinbase
Manager @ EY
Counsel @ Credit Suisse
Attorney @ Law Offices of Katherine D. Johnson
Axiom Attorney @ JPMorgan Chase
Axiom Attorney @ BNY Mellon
Associate @ Vedder Price P.C.
Principal Solutions Consultant @ OpenText
Director Information Technology @ ArborMetrix, Inc.
Systems Administrator @ ArborMetrix, Inc.
Systems Administrator @ Michigan Heart, P.C.
VP Operations @Storj Labs
Customer Success Director @ Storj Labs
Technical Marketing @ Covisint, an OpenText Company
Collaboration Program Director @ 1976
Director of Technology @ C4 Communication Pty Ltd
Director of Technology @ Clear!Blue
Associate Attorney @ Dawda, Mann, Mulcahy & Sadler, PLC
University of Cincinnati
Senior Software Developer
NIIT Technologies Limited
Cognizant Technology Solutions
Investors / Partners
- George Burke
- Gabriel Jarrosson
- Tank Stream Ventures
- Rui Rodrigues
- State of Utah
- Iterative Capital Management
- TechSquare Labs
- Allen Nance, Paul Judge
- Tyler Scriven
- GVA Capital
References / FAQ’s
What is Storj used for?
Storj is a crypto token that is used as payment within a platform that offers enterprise-level decentralized storage.
By offering payment in its token, Storj incentivizes those around the world that have unused, excess computer storage and internet access to become a ‘node’ and make it available for use by the Storj network, competing against the massive data centers held by a few multi-nationals.