Decentralized cloud data storage
Get it? Storage, but with fewer vowels and a j. Storj uses blockchain technology and peer-to-peer protocols to provide decentralized, secure, and encrypted cloud storage. Storing data in encrypted, distributed pieces protects against attacks, improves reliability, increases download/upload speeds, and enhances performance when compared to centralized cloud storage options. At a fraction of the cost of major cloud providers (S3, Google, Microsoft), Storj’s products could potentially save companies millions on their cloud storage.
The STORJ token enables the coordination between different parties within the network to transfer value at scale. Developers who use Storj’s architecture receive a bonus on any STORJ token deposit they make, to encourage them to use the tokens instead of paying by credit card. This allows users to lower their cloud storage bills even further. More than 11,000 customers are already using Storj’s decentralized storage system, including research universities with massive data sets, such as Carnegie Mellon and the University of Maryland.