Storj is a decentralized system of distributed object storing, which keeps information encrypted. Storj is based on Bitcoin’s blockchain technology and peer-to-peer protocol in order to provide safe and efficient cloud storage. Besides that, the cloud storage company has issued its own Storj tokens (STORJ) similar to other cryptocurrencies. The main idea of the Storj coin is to allow users to lease unused space on a hard drive as a way to gain profit. The Storj ICO was conducted in 2017 and, before the ICO, the project had been becoming more and more popular, with Storj’s price growing more than 10 percent. The company also offers two types of Storj wallets for cryptocurrency, one of which is based on blockchain and the second option is available at Freewallet. Storj mining happens when space on a hard drive is leased.
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With Chinese President Xi Jinping recently showcasing support for blockchain, local media is seemingly changing its sentiment toward crypto.
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The alphanet of decentralized file hosting protocol Filecoin will be launched tomorrow, with the testnet expected on Dec. 11 and mainnet in Q1 2020.
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