Investing in Storj (STORJ) DCS – Everything You Need to Know
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Table Of Contents
What is Storj (STORJ) DCS?
Storj (STORJ) DCS is an open-source, decentralized cloud storage layer. This system enables developers and users to save on cloud storage fees and earn by providing access to unused space on their hard drives. The platform was among the first in the world to offer a decentralized cloud storage option. Best of all, the network is private by design. All data gets split, distributed, and stored multi-regionally across the globe as part of this strategy.
What Problems Does Storj (STORJ) DCS Solve?
Storj DCS provides a number of key advantages to help developers build more secure and private applications. The protocol provides a viable alternative to the large mega cloud hosting services currently dominating the sector. Firms such as Amazon use their strong market positioning to control the prices and features available to users. Storj eliminates these barriers and provides users with a more efficient way to access cloud storage services.
One of the main problems that Storj eliminates is centralization. Today’s cloud service providers offer centralized services to users exclusively. This leaves users at a disadvantage as this strategy leaves a single point of failure. It also exposes users to censorship and other recourse. Storj eliminates outages, downtime, bitrot, ransomware, and data breaches.
Another pain point that Storj attempts to tackle head-on is high fees. Using any of the major cloud service provider’s services is expensive. They know you have few options, so the pricing is set accordingly. Storj provides decentralized cloud storage at a fraction of the price of a single availability zone from centralized providers like AWS. Users can even start using the service free of charge. Specifically, the free tier of decentralized cloud object storage includes three projects with 50 GB each and 50 GB bandwidth each
Security concerns were always at the forefront of Storj developer’s interests. They wanted to ensure the Storj enabled developers to build in the best data protection and privacy into their applications. Dapp creators enjoy more flexibility when using Storj. The system provides services such as delegated authorization. This feature provides flexible and ultra-secure capabilities for access management.
Storj also combines a variety of security protocols to ensure the blockchain remains secure and resistant to hacking. The network employs a zero-trust architecture, multi-region high availability, default encryption, and edge-based access controls as part of this strategy.
Developer Hold Ups
Storj was built from the ground up to simplify integration into Dapp development. The platform is packed with development tools and robust technical documentation, tutorials, and videos to help creators make new and exciting platforms with ease.
Storj (STORJ) DCS Benefits
There are many reasons why a person would want to consider using Storj for their storage needs. The platform offers a seamless and secure way to participate in its services. Users enjoy transparency far beyond that of centralized services. Notably, Storj is open source so developers can build upon the core structure to create new and more intuitive add-ons to the network.
As part of Storj’s strategy to simplify integration, the network was built to be s3 compatible. S3 is an object storage protocol first introduced by Amazon more than 15 years prior. This protocol organizes data into objects. These objects contain the data, its metadata, and a unique identifier. Advanced APIs can then communicate with this data securely. Today, S3 cloud storage modules are the industry standard.
Storj (STORJ) DCS Community
AS with any decentralized project, the community plays a vital role in determining the direction Storj develops. The network includes a vibrant user community. These users simplify the research and launch aspects of Dapps because they provide developers access to community discussions and support. In turn, this strategy enables developers to economically and easily learn and leverage decentralized cloud storage technology.
Storj (STORJ) DCS Mechanics
Storj combines a variety of proprietary systems to accomplish its goal. The network includes a storage function, developer tools, and a communal aspect. Together these systems work together to provide Storj users with a new level of convenience in the market.
The Storj Decentralized Cloud Storage system is the core feature of the network. This protocol handles a number of vital functionalities. The protocol leverages a default encryption strategy that splits up data into 80 or more pieces and distributed it across thousands of diverse nodes and ISPs in nearly 100 countries.
Storj (STORJ) DCS Developer Tools
The Storj developer’s tool kit is an essential component of the platform. This feature includes a robust library of open source technical documentation and familiar development tools. The goal of this feature is to ease new users into the platform and allow them to leverage Storj’s unique technical aspects to create better Dapps.
STORJ is the main utility and governance token for the network. Notably, Storj is an ERC-20 token that lives on the Ethereum blockchain. You need to hold STORJ to interact with the features and services of the platform. There is a total supply cap of 424,999,998 STORJ with 287,973,923.89 in circulation at this time.
Storj (STORJ) DCS community
The Storj DCS community collaborates with other open-source developers. You can find other professionals to help you get your project off the ground or solve issues you face. Whatever problems you encounter, the Storj community has a reputation for helping each other solve their issues in a timely manner.
Since its launch, Storj has seen considerable growth. Notably, the concept first came to light during a Texas Bitcoin Hackathon. It was at that time that Shawn Wilkinson, the company’s founder, revealed his concept to the world via a prototype. In less than a year his concept was reality. Today, Storj Labs encompasses 60+ globally distributed employees, in dozens of countries across the globe.
How to Buy Storj (STORJ)
Storj (STORJ) is currently available for purchase on the following exchanges:
Kraken – Founded in 2011, Kraken is one of the most trusted names in the industry with over 9,000,000 users, and over $207 billion in quarterly trading volume.
The Kraken exchange offers trading access to over 190 countries including Australia, Canada, Europe, and is our most recommend exchange for USA residents. (Excluding New York & Washington state)
Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.
Bitstamp – Founded in 2011, Bitstamp is one of the oldest & most trusted exchanges in the world. They currently accept Canada, UK & USA residents excluding the states of Alabama, Hawaii, Idaho, Louisiana, Nevada, & New Jersey.
Binance – Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from buying most tokens. Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. This exchange currently accepts International & United States residents.
WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality. It is the best exchange for residents of India.
Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.
Storj (STORJ) DCS – Decentralized Cloud Storage at its Finest
Storj has long been a pioneering force in the market. The protocol was among the first to offer decentralized cloud services to the masses in an affordable and easily accessible manner. For these reasons, Storj is set to remain the premier decentralized cloud service provider in the market for the foreseeable future.
David Hamilton is a full-time journalist and a long-time bitcoinist. He specializes in writing articles on the blockchain. His articles have been published in multiple bitcoin publications including Bitcoinlightning.com
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