Storj (STORJ) price is $0.26225

Storj (STORJ) Live Price Data

The live Storj (STORJ) price is $0.26225, with a 24 hours Blynex trading volume of 17.92 K. The price of STORJ changed by -2.6% in the past 24 hours. With a circulating supply of 399.67M STORJ and a maximum supply of 424.99M STORJ coins. STORJ currently ranks #317 in market cap. You have the option to purchase Storj (STORJ) on the Blynex exchange.

Market	Price	24h %	24h High	24h Low	24h Volume
STORJ/USDT	$0.26225	-2.6%	0.27237	0.25926	17.59 K	Trade

Market

Price

24h %

24h High

24h Low

24h Volume

STORJ/USDT

$0.26225

-2.6%

0.27237

0.25926

17.59 K

Trade

About Storj (STORJ)

Storj (STORJ) is an open-source cloud storage platform. Basically, it uses a decentralized network of nodes to host user data. The platform also secures hosted data using advanced encryption.. Buying STORJ on Blynex Exchange is easy: create an account, verify your identity, deposit funds, and start trading. Check out our guide on How to Buy Storj (STORJ).

What is Storj (STORJ)?

Storj, pronounced "stor-jay," is an open-source platform that offers decentralized cloud storage by utilizing a network of independent nodes. These nodes work together to securely store data, with cutting-edge encryption ensuring privacy and protection. Unlike centralized cloud providers, Storj offers a decentralized and more secure alternative for managing digital assets.

Origins and Development of Storj

Introduced in December 2014 through a white paper, Storj was envisioned as a decentralized peer-to-peer cloud storage system. The project aimed to disrupt traditional cloud storage by using blockchain technology to create a secure, scalable, and efficient data hosting environment. After two years, an updated version was released, refining the network's design and functionality.

Node-Based Storage Network

Storj's network relies on a vast number of individuals who contribute their unused hard drive space. These participants, called nodes, provide storage and are rewarded with Storj tokens. The platform allows anyone with sufficient internet connectivity and extra storage capacity to join, contributing to the decentralized nature of the system and lowering storage costs.

Strong Founders and Funding Milestones

Founded in May 2014 by Shawn Wilkinson and John Quinn, Storj raised substantial funding through a crowd-sale in 2014, gathering 910 bitcoin. Later, in 2017, the project raised $3 million in seed funding and an additional $30 million through a token sale. Storj Labs, the company behind the platform, continues to grow, now under the leadership of Ben Golub, who serves as CEO.?

Efficiency and Tokenomics of Storj

The Storj platform operates with impressive efficiency, offering cost-effective storage compared to traditional providers. Initially, 500 million $Storj tokens were created on the Ethereum blockchain, with 75 million burned post-sale. Currently, nearly 425 million tokens are in circulation, with a significant portion locked for reserves. This token structure ensures the network's long-term growth and stability.

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