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STORJ
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Storj
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Storj is a decentralized cloud storage solution that encrypts and distributes files using a global network of nodes. Storj is positioned as a decentralized alternative to cloud storage providers such as Amazon Web Services (AWS), where data storage is distributed over a global network supported by users to achieve greater privacy, security, and value.

Storj DCS (Decentralized cloud Storage) is unique in design and security, as evidenced by unprecedented data protection and privacy, compared to traditional centralized cloud storage offerings. This innovative, decentralized solution encrypts, shares, and distributes files across thousands of statistically uncorrelated nodes and ISPs around the world.

Decentralization provides the highest possible level of security and privacy for users who need to own their data and control its use, integrity, and access.

It is also resistant to hacking and ransomware attacks. By decentralizing cloud storage, Storj DCS can provide privacy and security benefits, as well as provide better cost-effectiveness than centralized alternatives.

Who is the creator of Storj?

For the first time, Storj was mentioned back in 2014, when the project was still just a concept. Its authors are programmer Sean Wilkinson, and co-founder John Quinn. This year, the first technical document with a detailed description of the concept was released. A year later, the world learned about Storj Lab, and in 2018, the platform began full-scale implementation of its project vision.

What is unique about Storj?

Storj encourages two parties to use the network - those who have additional bandwidth and storage capacity on their computers (storage hosts), and those who need this excess capacity (uses Storj DCS). While anyone can use the object cloud storage service, the platform offers the most useful features for developers, startups, and large-scale projects with high-capacity storage requirements.

How many Storj tokens (STORJ) are in circulation?

Storj is an ERC-20 utility token that is used to exchange values over the network. At the time of launch, 500 million STORJ tokens were issued by the project on the Ethereum blockchain. 75 million tokens were burned by Storj Labs during the pre-sale. At the moment, the token is traded at a price of 1.03 USD, with a 24-hour trading volume of 35,258,277 USD.

No more STORJ tokens can be mined as a result of mining, as the supply of STORJ tokens is fixed at 106,285,390 and STORJ. There are 319,998,111 of STORJ tokens in circulation, with a total capitalization of 328,233,902 USD.

How is the Storj network protected?

Storj is fully protected against common network vulnerabilities, such as Honest Geppetto, Spartacus, Sybil, and Eclipse attacks. Another vulnerability that Storj is protected from is the Hosting Bytes script. All this was solved thanks to the consensus PoW of the Ethereum blockchain, on which the project is located.

Summary

  • To own your crypto assets, you need to manage your own private keys.
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  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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