STORJ

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Storj Labs is the provider of the Storj decentralized cloud storage network, and the company behind STORJ token, a cryptocurrency on the Ethereum blockchain that powers digital storage and data retrieval on its cloud storage platform.[1][2][3][4]

The Storj network is decentralized and uses end-to-end encryption.[5] The platform stores data for its customers’ applications across a distributed set of storage nodes, which utilize spare hard drive space from its community members, which it calls farmers.[6]

STORJ tokens are utilized as a payment method on the Storj network. When customers utilize the platform’s services, a portion of the STORJ token revenue is sent to the individual farmers who store the data, compensating them for the service they provide.[7] This is similar to other sharing economies, like Airbnb, connecting users and customers with a surplus of data storage.[8]

History[edit]

In March 2014, Shawn Wilkinson won the Texas Bitcoin Hackathon using an early prototype of the Storj network.[9]

In July 2014, Storj launched its first token sale,[10] raising 910 BTC, which was worth approximately $500,000 at the time the sale closed.[11]

In April 2016, Storj Labs officially announced the beta release of its cloud platform, which allows users to store data on a decentralized network. The beta was only accessible through an invite system and was later made available publicly after the platform’s initial testing phase.[12]

In February 2017, Storj raised $3 million in venture capital funding.[13]

In June 2017, the Storj Labs team raised $30 million through a second token sale.[14]

In March 2018, former Docker CEO and cofounder Ben Golub joined Storj Labs as Chief Executive Officer and Interim CEO.[15]

In August 2018, Storj announced their partnership with open-source projects, titled The Open Source Partner Program.[16][17]

See also[edit]

References[edit]

  1. ^ Shin, Laura. "Filecoin ICO, Launching Next Week, Aims To Resolve Token Sale Problems". Forbes. Retrieved 2017-08-12.
  2. ^ "Storj to Migrate Decentralized Storage Service to Ethereum Blockchain - CoinDesk". CoinDesk. 2017-03-23. Retrieved 2017-08-12.
  3. ^ "When blockchain meets big data, the payoff will be huge". VentureBeat. 2017-07-30. Retrieved 2017-08-12.
  4. ^ Garner, Bennett (14 Feb 2018). "What is Storj? Beginner's Guide". Coin Central.
  5. ^ "Storj Labs Advances Blockchain Based Encrypted Storage". eWEEK. Retrieved 2018-07-23.
  6. ^ "How Clouds Will Crystallize Around Blockchain - InformationWeek". InformationWeek. Retrieved 2018-07-23.
  7. ^ "Monetizing computing resources on the blockchain". TechCrunch. Retrieved 2018-07-23.
  8. ^ "Blockchain is bringing the sharing economy to everyone". VentureBeat. 2017-11-04. Retrieved 2018-07-23.
  9. ^ Hofman, Adam. "Storj Introduces Decentralized Cloud Storage". Bitcoin Magazine. Retrieved 2018-07-23.
  10. ^ Storj Labs. "STORJ Crowdsale Terms and Overview" (PDF).
  11. ^ "Cloud Storage Startup Storj Raises 910 BTC in Crowdsale". CoinDesk. 2014-08-22. Retrieved 2018-07-23.
  12. ^ "Cloud Storage Goes Mainstream: Storj Launches Beta Joining Azure BaaS". Cointelegraph. 11 April 2016.
  13. ^ "Blockchain Startup Storj Targets Enterprise Cloud With $3 Million Raise - CoinDesk". CoinDesk. 2017-02-23. Retrieved 2018-07-23.
  14. ^ May, Matthew. "What To Consider In An ICO". Forbes. Retrieved 2018-07-23.
  15. ^ "Former Docker CEO Ben Golub joins Storj as Executive Chairman and interim CEO". TechCrunch. Retrieved 2018-07-23.
  16. ^ Meyer, Dan (4 Sep 2018). "Storj Labs Offers Unique Model for Cloud Storage". SDX Central. Retrieved 29 September 2018.
  17. ^ "Storj Labs". GitHub. Retrieved 29 September 2018.

External links[edit]