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.
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.