We present a complete guide to understanding Storj Crypto and it’s technology in the field of cryptocurrency development. We include helpful explanations, illustrated guides, historical data, and technical details. This article is brought to you by Digital Financial Market
Last Updated: 2/12/2022
Storj Cryptocurrency
Storj (STORJ) is an Ethereum-based Cryptocurrency built to create a network of decentralized data storage. Considered the “iCloud” of blockchains, the Storj network offers affordable cloud storage.
Built as decentralized ecosystem, Storj offers rewards to users that allocate their hard drive space as “Storage Nodes”. The Storj network keeps data secure by splitting the files uploaded and distributing them across the network to prevent data breaches and unauthorized access.
If Storage Nodes go offline, data loss is prevented because the Storj network uses a process called redundancy to replicate segments of data. This removes risks when every piece of data can be accounted for across the Storj Blockchain.
Key Points About Storj
- Widely considered the “iCloud” of Blockchains
- Uses efficient method of Decentralized Data Storage
- Uses segmentation to create Security, and redundancy to prevent Data Loss
- Secure, stable network built for complexity
Storj Price Chart
Storj Historical Price Chart
History of Storj
Storj was first created in 2014 by John Quinn and Shawn Wilkinson as part of the launch of their company, Storj Labs.
Huge steps were taken in 2017 when Storj migrated from Bitcoin to becoming an ERC-20 Token on the Ethereum Blockchain. This established the STORJ Token for public sale as they launched a $30 Million USD Token sale.
The Storj Network made their third upgrade in 2019 when they launched a new protocol Storj V3.
Storj FAQ
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