STORJ

Storj is a decentralized cloud storage platform that enables users to store data securely on a distributed network of storage providers in exchange for the STORJ cryptocurrency. By distributing encrypted data across multiple hosts and using redundancy techniques, Storj aims to reduce reliance on centralized data centers while enhancing privacy and fault tolerance.

In practice, clients encrypt files before uploading, split them into pieces, and store them on a set of global nodes. The data fragments are distributed across multiple hosts with erasure coding to allow reconstruction even if some nodes are unavailable. Access to the data requires the appropriate cryptographic keys, ensuring end-to-end privacy. The network is designed to be independent of any single provider, with payments and agreements managed on a blockchain-based layer. Storj also provides developer tools and gateways to integrate with existing cloud workflows and applications.

The ecosystem uses the STORJ token as an incentive mechanism. Hosts earn STORJ for available storage and bandwidth, while users pay with STORJ to store and retrieve data. The token has been used within the network as an on-chain means to coordinate storage deals and payments, with the broader approach evolving as the platform scales and integrates with standard web-based cloud interactions.

Storj originated as a project to create a decentralized alternative to traditional cloud storage and conducted a public token sale in the late 2010s. It has evolved into a commercially available service known as Storj DCS (Decentralized Cloud Storage), continuing to compete with other decentralized storage networks and traditional providers. See also decentralized storage, Filecoin, Sia, and Arweave for related technologies and ecosystems.