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STORJ

Topic: Finance

 From HandWiki - Reading time: 4 min

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]

The company competes with other decentralized storage platforms like FileCoin, Sia, Oyster, MAIDsafe as well as traditional cloud companies, like AWS, Google Cloud and Microsoft Azure.

History

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

References

  1. ↑ Shin, Laura. "Filecoin ICO, Launching Next Week, Aims To Resolve Token Sale Problems" (in en). Forbes. https://www.forbes.com/sites/laurashin/2017/07/19/filecoin-ico-launching-next-week-aims-to-resolve-token-sale-problems/#373e9df8384b. 
  2. ↑ "Storj to Migrate Decentralized Storage Service to Ethereum Blockchain - CoinDesk" (in en-US). CoinDesk. 2017-03-23. https://www.coindesk.com/storj-migrate-decentralized-storage-service-ethereum-blockchain/. 
  3. ↑ "When blockchain meets big data, the payoff will be huge". 2017-07-30. https://venturebeat.com/2017/07/30/when-blockchain-meets-big-data-the-payoff-will-be-huge/. 
  4. ↑ Garner, Bennett (14 Feb 2018). "What is Storj? Beginner’s Guide". https://coincentral.com/storj-beginners-guide/. 
  5. ↑ "Storj Labs Advances Blockchain Based Encrypted Storage" (in en-US). eWEEK. http://www.eweek.com/storage/storj-labs-advances-blockchain-based-encrypted-storage. 
  6. ↑ "How Clouds Will Crystallize Around Blockchain - InformationWeek" (in en). InformationWeek. https://www.informationweek.com/cloud/how-clouds-will-crystallize-around-blockchain/a/d-id/1332305. 
  7. ↑ "Monetizing computing resources on the blockchain" (in en-US). TechCrunch. https://techcrunch.com/2018/06/03/monetizing-computing-resources-on-the-blockchain/. 
  8. ↑ "Blockchain is bringing the sharing economy to everyone" (in en-US). VentureBeat. 2017-11-04. https://venturebeat.com/2017/11/04/blockchain-is-bringing-the-sharing-economy-to-everyone. 
  9. ↑ Hofman, Adam. "Storj Introduces Decentralized Cloud Storage" (in en). https://bitcoinmagazine.com/articles/storj-introduces-decentralized-cloud-storage-1409254249/. 
  10. ↑ Storj Labs. "STORJ Crowdsale Terms and Overview". https://storj.io/CrowdsaleTermsWithAddendum.pdf. 
  11. ↑ "Cloud Storage Startup Storj Raises 910 BTC in Crowdsale" (in en-US). CoinDesk. 2014-08-22. https://www.coindesk.com/cloud-storage-startup-storj-raises-910-btc-crowdsale/. 
  12. ↑ "Cloud Storage Goes Mainstream: Storj Launches Beta Joining Azure BaaS". Cointelegraph. 11 April 2016. https://cointelegraph.com/news/cloud-storage-goes-mainstream-storj-launches-beta-joining-azure-baas. 
  13. ↑ "Blockchain Startup Storj Targets Enterprise Cloud With $3 Million Raise - CoinDesk" (in en-US). CoinDesk. 2017-02-23. https://www.coindesk.com/blockchain-startup-storj-targets-enterprise-cloud-3-million-raise/. 
  14. ↑ May, Matthew. "What To Consider In An ICO" (in en). Forbes. https://www.forbes.com/sites/forbesfinancecouncil/2017/11/21/what-to-consider-in-an-ico/#543f81855c44. 
  15. ↑ "Former Docker CEO Ben Golub joins Storj as Executive Chairman and interim CEO" (in en-US). TechCrunch. https://techcrunch.com/2018/03/12/former-docker-ceo-ben-golub-joins-storj-as-executive-chairman-and-interim-ceo/. 
  16. ↑ Meyer, Dan (4 Sep 2018). "Storj Labs Offers Unique Model for Cloud Storage". https://www.sdxcentral.com/articles/news/storj-labs-offers-unique-model-for-cloud-storage/2018/09/. Retrieved 29 September 2018. 
  17. ↑ "Storj Labs". https://github.com/storj. Retrieved 29 September 2018. 

External links




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