Neutral Storj opinions
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So far,1 of opinions have been recorded for Storj. These opinions are not investment recommendations but the community's perspective on Storj. Please do not make a purchase decision based on these Storj opinions.
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Storj opinion #1
Storj Network is one of the first decentralised storage platforms in the Blockchain universe.
It uses data encryption with sharing functionality used by the client to store files securely in a peer-to-peer network and on ERC-20 base layer.
The project was launched in 2017 by means of an ICO (Initial Coin Offering).
The STROJ token is to be regarded as a utility token for the use of the decentralised storage network.
Technically speaking, the storage of data in the Storj network is divided into four phases:
- Encryption of the data on the part of the client who wants to upload it to the Peer-2-Peer network.
- The distribution of the data to other Storj network participants
- The splitting "sharding" of the data into smaller data packets.
- Retrieval check of the network whether all data packet fragments are present.
Another advantage of the Storj network is that by sharding, none of the network participants hold the complete data packet, but only a few fragments. This means that, despite the external encryption, it is not possible to access the data and decrypt it using a BruteForce attack.
From the perspective of a crypto investor:
Without using the network as data storage, an investment as crypto currency is therefore uninteresting for me.
Nevertheless the project gets 3 stars.