Storj: A p2p decentralised storage model

Storj: Decentralizing Cloud Storage from Storj on Vimeo.

Storj is an open-source, decentralized, cloud storage platform. It is based on the cryptocurrency Bitcoin’s (BTC) blockchain technology and peer-to-peer protocols. The Storj network uses its own cryptocurrency, Storjcoin X (SJCX), while its front-end software supports the use of other digital currencies such as Bitcoin and more traditional forms of payment like the dollar. Unlike traditional cloud storage providers, Storj keeps data spread across a decentralized network eliminating the problem of having a single point of failure. It also encrypts all data making it impossible for anyone, including Storj, to snoop on users’ files without having a user’s private encryption key. In return for offering storage space to the network, users are paid cryptocurrency.

Imagine storing all your private data across other peoples drives in encrypted form? Imagine getting paid to store this encrypted data?

Well this is Storj and its frankly quite an amazing concept whoses time as come.

This is a very attractve setup for someone like me with many terabytes of storage and hyperfast broadband. Unlike the risks of running an Tor exit node, everything is strongly encrypted and the host has zero knowledge of whats being stored or transfered.

I already have an account as I’d be interested to see how it works. First heard on Steal this show, how the swarm will beat the cloud.

Author: cubicgarden

Senior firestarter at BBC R&D, emergent technology expert and serial social geek event organiser.

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