What is Storj?
The idea behind Storj is a decentralised and open-source cloud storage platform. The platform follows the peer-to-peer (P2P) model, allowing anyone with unused storage space and a fast internet connection to make their storage available and become part of the network.
Why follow Storj?
The network’s currency is STORJ, which boasts a total supply of 500 million tokens minted on the Ethereum network. Storj Labs later decided to burn 75 million units to maintain a certain level of scarcity. Why follow the Storj project? Among the platform’s strengths are undoubtedly its simple structure and ease of use. As a decentralised cloud storage platform, the aim of the project is to share excess storage space by installing simple software (Tardigrade).
How was it created?
Shawn Wilkinson, the mastermind behind the whole project, launched the idea and started programming in May 2014. Alongside him, John Quinn wrote the project’s whitepaper in late 2014. The STORJ token was launched with an Initial Coin Offering (ICO) in 2017, raising around $30 million. The following year, Storj Labs was founded.
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