Storj is an ERC-20 coin that resides on the Ethereum network. The coin is designed for developers who can use Storj to buy cloud storage. Storj is a decentralised cloud provider with the aim of making storage cheap and secure for everyone.
The network works with Storj Sharding, the sharding network ensures that a file is not downloaded from one computer but in pieces from multiple computers. In this way, you distribute a file, making the file safer to store. When the file is saved, it is also stored in multiple pieces also known as shards. When someone wants to open the file again, it is retrieved from the different points where they are stored.
The Storj network is very similar to Torrents, only with Torrents it is known where the shards are stored. Because only the Storj network knows where all the shards are stored, no one knows where the files are and it is a lot safer to store them.
Storj is designed for decentralised cloud storage.
Because of Storj's sharding network, everything splits into Shards. As a result, the file is scattered in pieces all over the network.
The Shard network is built on the Ethereum network.
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Storj statistics from the last 24 hours
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Storj came online in late 2017 with a share price of €0.48. Soon, the share price rose to €2.13 with a sharp decline, bringing it to €0.11 after a year.
Storj also benefited from the bull run. Thus, the share price rose from €0.23 to its "all time high" €2.55, this soon provided a smooth decline to €0.82. With the second bull run, the price quickly returned to €1.62 which followed with a rapid drop to €0.34.