STORJ

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.

## Contents

* 1 History
* 2 See also
* 3 References
* 4 External links

## 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

* Filecoin
* Siacoin

## 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.

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