What is Storj Coin?
Storj, pronounced “Storage”, is a blockchain-based cloud storage platform that allows its network participants to share unused digital storage space.
When the first whitepaper for the network was released in 2014, the proposition was centered around developing a decentralized peer-to-peer encrypted cloud storage platform.
However, by the time of the updated whitepaper published in 2016, Storj, an alternative to centralized hosting platforms, would be described as a decentralized file storage platform and rewards users who share digital storage space with STORJ tokens.
STORJ is used within the Storj ecosystem to pay for storage space — users seeking storage pay hosts STORJ for these services, which undergo a random file verification process that operates on an hourly basis and ensures all files hosted through Storj are accurately, consistently, and securely stored. #STORJ $STORJ
