Storjcoin and its Open-Source Data Storage Platform
In the development of Storjcoin (STORJ), various people have come together to create a truly unique project.
The CEO is Shawn Wilkinson, who makes things happen with the help of Tome Boshevski, James Prestwich and John Quinn. Initially, the project, which shares its name with the coin, began as a purely peer-to-peer version of a data store.
By having a completely decentralized administration, there is no company whose first priority is profit. The result was a platform that is technologically advanced with a corresponding speed.
At the same time, the price for its use was as low as possible. Financing is also straightforward with Storjcoin’s mines. If you are so inclined, you can simply take an active part in trading and trade Storj for Bitcoin.
Anyone who owns Storj can also take part in the decision-making process about the future of the cloud. In the last few years, it has made some very remarkable developmental steps.
It has already been integrated into the FTP service of Mozilla: FileZilla. Partnerships with Microsoft and in particular, the Azure Services already exist.
How the Storjcoin Mine Works
Storj is a cryptocurrency that, like Bitcoin or Ethereum, is based on the proof-of-work scheme. Therefore, it is possible to mine a few blocks – either through your own PC or through various mining pools.
Those who have a special knack for generating server landscapes can also dedicate their own PC to mining. Whether you opt to dig for the Storjcoin through the GPU or the CPU is up to you.
To mine the coin around the clock, however, you would be well-advised to use HDDs. Graphics cards don’t have a very long life expectancy when subjected to continuous operation.
HDDs are much cheaper than high-end graphics cards that provide adequate performance to effectively mine.
To start, it is first necessary to install the wallet. This is provided directly on the developers’ website. A web wallet is also available to provide an alternative.
The Storjcoin Platform – How it Works
The platform is a cloud that integrates with its own Explorer. The price depends entirely on your own storage requirements. In US dollars, 1 GB per month comes to $0.015, while a downloaded GB equates to $0.05 per month.
Space is related to bandwidth here. This is necessary to keep the operating costs for each member as low as possible.
Therefore, there are no flat-rate price packages, through which the users would have to pay for services that are not used at all.
For the first twelve months, the operators of this platform promise a free quota. The first 25 GB are free to new users.
How Storjcoin and its Platform are Linked to the Blockchain
Since a decentralized structure prevails, blockchains come into play. This means that stored data is backed up multiple times to prevent problems from the outset.
Different hashes ensure the targeted delivery of the data so they never land on a central memory point. Instead, it is divided into a number of records.
This process is considered one of the safest ways to store important and confidential data, free from worry.
The Future of Storjcoin Looks Pretty Exciting
One thing is for sure: the developers plan to take on the truly large cloud services companies. Their product is quite competitive.
The fact that the Storjcoin is coupled with many well-known services makes it more accessible to the general public. In addition, the platform is being financed by its own users, which makes the coin indispensable.
It’s a concept that provides benefits for both parts of this project. The community is correspondingly optimistic.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.