Storj: Blockchain Token – What is it?

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Estimated reading time: 2 minutes, 12 seconds

This episode of Blockchain Token – What is it? covers Storj!

Sick and tired of expensive centralized servers? Well I’ve got some good news for you!

Storj is a decentralized storage solution that is looking the become the next evolution of the cloud. Specifically focused on speed, cost, and efficiency or data storage and retrieval, Storj is positioning itself to be a leader in the decentralized storage space. Check out our video rundown of the project, or read more below!

Storj is a decentralized storage solution that is looking to be the next evolution of the cloud. The cloud was an awesome invention for the Internet. It put the days of hard disks, thumb drives, and email accounts for storage in the rear view mirror.

Storj is trying to do the exact same thing to the cloud. You see, while this cloud was this awesome convenient invention, there are still some major issues with cloud technology.

While cloud technologies give you decentralized access, your data is still kept in a centralized server. And there are several issues with centralized servers that the cloud does not solve. What happens if that one server goes down? Well your data might be lost. Additionally, the security of a centralized server based cloud doesn’t come close to what a decentralized network can offer.

Storj has identified these issues and turned to blockchain technology in order to solve them.

According to Storj, they are the first decentralized, end-to-end encrypted cloud storage that uses blockchain technology to secure your files.

The way Storj ensures data privacy is really interesting. It breaks up your data into pieces known as “shards” and then stores them across the network, providing security and efficiency that the current cloud cannot provide.

Since Storj is based off of a decentralized network, it is cheaper to store data since you are using a distributed network of hard drives instead of a designated data center. This also contributes to network speed because you have multiple nodes working for your at once. Security is superior because your file is encrypted and broken into shards. This is how Storj is positioning themselves to be the next evolution in decentralized storage.


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