Storj Price (STORJ)

STORJ is a protocol that allows users to share data without any involvement of third-party storage providers. It means that any data stored on STORJ will never be censored or monitored by anyone. STORJ is the first network that uses blockchain technology to grant the safety of users’ data.

How does it work?

When you want to store a file on Storj you need to divide it into shards. A shard is a small fragment of encrypted file. Shards are stored in different computers around the world. No one besides the owner of these files has access to them even in encrypted form. The data owner has full control over the encryption key, and thus over access to the data. The data owner can secure information of how the file is sharded and where in the network shards are located.

The storage of files is negotiated via a contract. The contract is a data structure that describes the relationship between data owners and farmers. Contracts contain all information necessary for each node to form a relationship, transfer the data, create and respond to audits over time, and arbitrate payments.

STORJ has a lot of advantages compared to data center-based cloud storage. Data security can be maintained using client-side encryption. Data on the network will be resistant to censorship, tampering, and unauthorized access.

STORJ is a work in progress and many features will be available in future versions.