Storj
About Storj (STORJ)
Storj is a decentralized, peer-to-peer cloud storage network.
Storj was first described in a white paper published in December, 2014. It was later described in an updated white paper published in December, 2016. Storj launched in late 2018. It aims to connect users looking to purchase storage space with users who have hard drive space to sell. Users are incentivized to use Storj tokens (STORJ) for these purchases, however, the network also supports fiat currencies.
By providing users with a P2P cloud storage network that implements end-to-end encryption, the Storj network eliminates a user's need to rely on a trusted third party. This solves for most traditional data breaches, failures, and outages, while at the same time increasing a user’s security, privacy, and data control. Storj currently operates as a decentralized alternative to the centralized cloud storage solutions provided by Amazon, Dropbox, IBM, Google Drive, and more.
Token
STORJ is a digital asset token that can be used to pay for services on the Storj network. It is built on Ethereum in accordance with the ERC20 standard for tokens. STORJ can be bought and sold for fiat currency or other digital currencies.
STORJ can be stored in a crypto wallet and custodian like Gemini.
Supply
The supply of STORJ tokens is fixed at 425 million.