What is Storj (STORJ)? Which Advantages Does It Offer?

Storj is a blockchain-powered, open-source, blockchain-powered, open-source storage platform that breaks down data, encrypts it and distributes it across a global storage network, enabling secure and low-cost storage of this data. is a decentralized cloud storage system. Storj’s native cryptocurrency is STORJ, also named after the project. In this article, we will look for answers to questions such as what is Storj, what does Storj do, what are the advantages of Storj.

What is Storj (STORJ)? What Does It Do?

Data generation is going on every second of every moment by everyone. With every data generated, the need for storage space also increases. Thanks to cloud storage, the physical hardware devices used to store data are no longer needed. Examples of traditional cloud storage solutions are Google, Amazon or similar companies. As an alternative to these traditional cloud storage services, Storj has been developed in a decentralized structure and uses blockchain technology. Storj is not a single company storing data. Instead, the free space of computer users around the world is utilized.

Storj uses blockchain technology and encryption methods to provide secure, scalable and affordable storage of data. However, in the Storj cloud storage network , data is not stored on central servers. The data is first fragmented, encrypted with AES-256-GCM symmetric encryption algorithm, stored on different nodes and distributed across the worldwide storage network. Building the system in this way helps to reduce the cost of accessing and storing data and to achieve a high level of security. The process of retrieval of files by users is a process of piecing together the fragments and then accessing the original data.

In the Storj project, users can earn income by sharing their free storage space. Users with free storage spacerent their disk space to the Storj network, enabling others to store their files. They are rewarded for their services with the cryptocurrency STORJ token. Other uses of the STORJ token include paying for storage and data transfer fees and participating in governance processes.

What Advantages Does Storj (STORJ) Offer?

What sets Storj apart from traditional cloud storage services is its technology. The advantages that this technology offers to users are as follows:

Security:

Storj makes an outstanding effort to store data securely and uses encryption methods of blockchain technology. Security is reinforced by fragmenting and distributing the data to be stored and then encrypting it. In addition, the lack of centralized servers and distributed storage of data means that Storj provides additional protection for data security.

Scalability:

Storj consists of a node-based structure. Thus, storage capacity can be easily scaled to meet changing needs. When storage needs to be expanded, users can do so by adding more nodes to the network.

Data Access and Download Speed:

The fact that Storj runs on a distributed network and stores data on different nodes speeds up data access and results in higher download speeds. In addition, because data is distributed around the world, users can quickly access data stored in nearby locations.

Reasonable Price:

Storj’s distributed and node-based structure means that it offers affordable prices for data storage and data transfer. As such, Storj is more cost-effective than traditional cloud storage services. Moreover, users can earn STORJ tokens by renting their free storage space. In this way, a balance can be struck between storage costs.

Data Control:

On the Storj platform, users have full control over their data. The data stored in Storj is encrypted and fragmented by the users themselves. This means that the data can only be accessed by the owner. Users can fully control how data is stored and shared.

Resilience

The Storj project utilizes a node-based structure to increase data resilience. Distributing data in chunks to different nodes in the network reduces the likelihood of data loss if a single node fails.

Flexible Use:

Storj is a platform-independent solution for users. This means that users can access Storj and store their data from different operating systems and devices. In this respect, users gain flexibility and adaptability.

Environmentally Friendly:

Utilizing the free space on users’ computers for storage in Storj means a more efficient use of available resources. This can reduce energy consumption and carbon footprint.

How does Storj work?

Storj is known as a cloud storage system.

Storj’s operating system is based on 3 main components: storage nodes, uplinks and satellites.

Storage Nodes:

On storage nodes, users rent free space on their hard drives by making it available. They return securely stored data upon request.

Uplinks

It is the uplinks that run on the client’s computer and upload files to the network. By coordinating uplinks with peers, data can be stored and retrieved.

They complied:

Satellites that coordinate traffic between storage nodes and uplinks. Each user has an account on the satellite. Satellites are responsible for distributing payments, keeping storage nodes reliable, storing and retrieving metadata.

If a user gets permission from the satellites to store data on the uplink network, the partitioning process of Storj files starts. In this process, the data that needs to be stored is first compressed, then encrypted and finally divided into chunks and strings. In a further step, the data strands are distributed over the network and stored together. If files are to be decrypted and retrieved, a special key is used.

Who are the Founders of Storj?

Storj Founders (Left to Right)
Tome Boshevski (Chief Design Officer), James Prestwich (COO & CFO),
John Quinn (Chief Development Officer) and Shawn Wilkinson (CEO & CTO)

Storj was founded in 2014 by Shawn Wilkinson and John Quinn.

Shawn Winkonson is an Atlanta-based software developer with a degree in Computer Science from Morehouse College. His involvement in the blockchain world started in 2012 when he became a Bitcoin miner. Shawn Winkonson participated in the Bitcoin Hackathon in Texas in 2014 and talked about his idea for cloud storage using blockchain technology. Shawn Winkonson’s idea attracted a lot of interest and Storj was born.

John Quinn is the founder of Decentral Park Capitalas well as Storj Labs. A graduate of Wake Forest University with a degree in Economics and Russian Language, John Quinn’s past experience includes executive positions in banks and investment firms. He is currently an Independent Board Member of XRDN, a bridge to build an open and connected metaverse.

To summarize, Storj is an innovative solution for distributed data storage and file sharing. It ensures the security of data by using blockchain technology and encryption methods. Users’ data is fragmented and uploaded to the Storj network. These fragments are distributed between nodes, encrypted and stored. Thanks to Storj, which has a structure that does not rely on centralized servers, the security of data increases and costs decrease. At the same time, tenants with empty storage space can rent it out and earn income in STORJ tokens. Storj, security, scalability, cost effectiveness, data control, etc. and offers an alternative solution to traditional cloud storage services.

What Other Things to Know about Storj (STORJ)?

To find out a little more about Storj (STORJ), it is useful to look at the answers to some of the following questions.

Is STORJ a token? Or is it a coin?

Coin is a cryptocurrency created on its own blockchain. A token is a cryptocurrency that does not have its own blockchain and is created on an existing blockchain. Since Storj does not have its own blockchain, it is a token.

Which blockchain is the STORJ token on?

The STORJ token is on the Ethereum blockchain and was created using the ERC-20 smart contract.

Is STORJ token mining done?

There is no mining in the classical sense. However, the users who create the nodes in the system are randomly rewarded with the STORJ token for hosting the data and securing the data they host.

How to buy STORJ token?

To buy STORK tokens, it is sufficient to create a membership on ICRYPEX. Once the membership process is complete, it is fast, easy and secure to trade other cryptocurrencies including STORJ token.

How to Become a Member of ICRYPEX?

After visiting www.icrypex.com from a browser, you can click on the “SUBSCRIBE” button at the top right of the page, fill in the required information and you can easily create your membership.

From mobile devices, primarily;

Android users can download our app by clicking here, Apple users by clicking here and HUAWEI users by clicking here. After logging in to the application, you can click on the menu icon at the top left, then click on “SUBSCRIBE” to fill in the required information and easily create your membership.