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Storj is an open source project that aims to offer a completely decentralized, secure and efficient cloud storage service, while also fulfilling the role of a peer-to-peer payment system, like Bitcoin.
It’s no secret that the last few years have been a turmoil for the security and privacy of web users. Enormous file hosting sites like Megaupload have been shut down, government organizations like the NSA having the capability of monitoring any user’s Internet activity and being able to access any files or data that have been put on seemingly “secure” cloud storage hosts like Dropbox or OneDrive, could make any person that wishes to store personal information on the Internet to think twice about doing it, with good reason.
The appearance of Bitcoin and the way it is revolutionizing payments over the world, brings hope for those looking to implement Bitcoin-like systems for all kinds of purposes, because of its complete decentralized nature and security, among other characteristics.
Storj is a protocol, cryptocurrency, and suite of decentralized application that allows users to store data in a secure and decentralized manner. It uses Bitcoin features like its transaction ledger, public/private key encryption, and cryptographic hash functions for security.
Storj nodes, or average computers running the software, sell resources to store and transfer information and to earn Storjcoin X (or other cryptocurrencies) in exchange of their services. You in fact could run the software and earn some extra cash for leasing your hard drive and bandwidth.
By modeling after Bitcoin, we create data storage system that can’t be censored, monitored, or have downtime. Furthermore, it is way cheaper (10x-100x), faster, and more secure than traditional cloud storage services.
- Total supply: 500,000,000 coins
- Protocol: Issued on top of Counterparty (XCP)
- Launched: Friday, July 18, 2014 at 8:00 AM (EST)