Storj (STORJ) is a decentralized cloud storage platform that leverages blockchain technology to provide secure, private, and cost-effective storage solutions. By leveraging unused storage capacity from individual users and storage node operators, Storj is able to offer storage services at a fraction of the cost compared to traditional cloud storage providers.
STORJ, the native token of the Storj network, is used as a means of payment, enabling users to purchase storage space and services, as well as to incentivize storage node operators to provide their resources. Users can become storage node operators by providing spare storage capacity and bandwidth to the network. In return, they are rewarded with STORJ tokens.
Storj operates on a decentralized network of storage nodes, where data is distributed and replicated across multiple nodes to ensure redundancy and availability. The platform encrypts user data on the client side before storing it on the network, ensuring end-to-end encryption and data privacy. Storj utilizes smart contracts on the Ethereum blockchain to facilitate transactions and automate the storage and retrieval of data between users and storage node operators.
