Storj is the decentralized cloud storage platform in which users can rent out their unused space to other cloud users, or “renters”, via local hosting as “farmers”. The network uses StorjcoinX (SJCX), as as a currency for driving the network. The digital currency will be used to make Storj trades effortless, quick and anonymous.
In test Group A users could experiment with the two main applications of Storj, MetaDisk and DriveShare. “We will not be loading users’ hard drives with data yet, only 100-byte test files,” a statement on the company blog said at the time.
Storj.io asked power-users in Test Group A to spot problems and provide feedback. The group consisted of interested parties who took part in the initial token sale, and purchased over 10,000 SJCX. Storj assessed the groups response while accruing load testing experience, statistics on the verification nodes, and statistics on farmer uptime. “Which is useful data for our distribution algorithms,” said the Storj.io blog
In an effort to ensure accurate and relevant feedback, Storj.io stated “Users not willing to go through technical issues, troubleshooting, and actively provide feedback, should participate in later test groups.”
Having assessed the basic functionality of the platform, Test Group B will see the introduction of SJCX. Access will be available to those who took part in the original crowdsale, and new interested parties who can buy in with 10,000 SJCX, currently $191.99 USD. Contributions go towards a community fund, that presently sits at 1,000,000 SJCX.
“The Community Funds are for rewarding community members for their contributions to supporting Storj.”
Farmers will be rewarded for participating in DriveShare Live, receiving contracts for storage, and periodically performing audits. “We want to start with smaller rewards and tier up as we reach capacity milestones. So more data, more farmers, more rewards.” explained the Storj team.
“Rewards will not start until we first reach the 100 GB milestone. 1,000,000 SJCX will be provided for the entire testing phase, with more being provided by new participants.”
The payment options for SJCX rewards are presently being considered. Batch Send Micropayments, which allows Storj.io to send out SCJX payments to multiple addresses, is the most likely outcome for Group Test B. A second option being considered is Pay at Completion, where farmers will be paid their accrued rewards upon the completion of the Group. Bitcoin Microchannels have also been considered. However, according to the company blog, Bitcoin Micropayments are not yet mature enough to be considered.
“Bitcoins would have to be collected to be used as payment in a test group. It is unlikely that this will be implemented this time around, but could be implemented in later test groups.”
In order to get the most out the upcoming Test Group B the focus is on capacity, ensuring that the nodes and farmers are actually providing an effective cloud storage solution.
“The key milestones of Test Group B will be expanding this storage capacity, and making sure our verification and auditing algorithms scale as well.”
During the crowdsale 5,000 users registered their interest in the Storj.io network. Since then the numbers have tripled. “It is safe to say that the reach of our project has grown considerably. Most of the focus will be on Test Group B, which means extending the timeline for Test Group C” explained Storj.io.
Storj.io are currently re-architecting aspects of the paltform based on the Test Group A data. “We expect to have the first capacity milestone met in the next 2 months.” Further announcements from the Storj.io team are to be expected in the near future.