Storj is a cloud storage platform that utilizes the blockchain for security. It is decentralized, meaning that there is no single point of failure and no one entity controls the data.
The data is stored on a network of nodes, and each node is incentivized to store as much data as possible by being paid in STORJ tokens.
The Storj platform runs on the Ethereum blockchain and utilizes smart contracts to secure the data. When a user uploads data to the Storj network, they are given a cryptographic key.
NOTE: WARNING: Storj is not designed to run on Ethereum and running Storj on Ethereum may cause unexpected results. It is strongly recommended that users only run Storj on its native blockchain platform, Tardigrade. Attempting to run Storj on Ethereum could lead to the loss of data or other damages.
This key is then used to encrypt the data, and the encrypted data is stored on a node. To download the data, the user must provide the key.
The use of smart contracts allows for a number of security features, such as ensuring that data is only stored on nodes that are online and active, and that have enough storage space available. Additionally, if a node goes offline or fails to meet its obligations, the smart contract will automatically remove the data from that node and redistribute it to other nodes.
The decentralized nature of Storj makes it highly resistant to attack or censorship. Furthermore, because users retain control of their data at all times, there is no risk of losing access to your data if a centralized server were to go offline.
Yes, Storj does run on Ethereum. The use of smart contracts allows for a high degree of security and decentralization, which makes it an ideal platform for storing data.
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Storj is a decentralized cloud storage platform that utilizes the spare storage capacity of its users’ devices to create a secure network for data. The project was launched in 2014 and has since amassed a community of over 100,000 users. The native currency of the Storj network is STORJ, an ERC20 token that is used to pay for storage and bandwidth on the platform.
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