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Storj (STORJ): Decentralized Cloud Storage

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Storj
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Thanks to the blockchain technology, launched by an anonymous hacker known under name Satoshi Nakamoto, services with third parties like Dropbox are slowly outdated. Storj is one of such platforms like Ethereum promotes decentralized cloud storage that can be used more efficiently than third-party operated cloud storage platform and where you can earn through paying for storage space. So, in this story, we want to hear more about Storj, its merging with Ethereum and where is Storj at now.

What is Storj?

Storj is a decentralized cloud storage that uses blockchain technology for processing transactions that are completely safe, secure and done without third parties interfering. These platforms are also using blockchain technology for storing data, programming apps and use smart contracts for selling goods or anything of value, including services, shares, real estate and bonds.

Storj is making small steps towards creating a massive multipurpose decentralized platform that would be able to operate just like big platforms. So instead of building it right away using vast resources, Storj is working on creating small pieces hosted on their platform with each piece presenting a prototype with work in progress that could be used and operated. That is how one of these parts is a drag-and-drop application based on blockchain technology called Metadisk where you can easily store and access your files. The advantage of creating small pieces of a platform in form of prototypes lies in the fact that later on it can quickly be decided which piece is there to stay and which can be replaced with a more useful and more functional application.

At the current moment, Storj is keeping the 126th place on the global coin ranking list with the most recent increase of price for 20.55%, which lead to an initial increase of value, leaving the total of 1.31$ per one Storj unit. It can be easily concluded based on how well is Storj ranked, as well as take its current price and the recent increases, that Storj is representing one of the promising currencies hosted on 2.0 blockchain platforms. Storj and similar platforms based on blockchain technology also represent a major threat to the current market of cloud storage like Dropbox and Google Cloud Storage, as you pay for only what you use, unlike Dropbox that charges for space you can’t possibly use in full potential.

Ethereum and Storj

As of March 2017, Storj has announced its merging with Ethereum, which means that tokens that belong to Storj are now available for exchange on Ethereum and Shape Shift. Shape Shift is a decentralized digital market that changes the original way of exchanging tokens. Instead of buying your tokens with first buying ETH and BTC, you can immediately swap your coins for any of supported coins listed on Shape Shift. Before joining Shape Shift and merging with Ethereum, Storj’s coins were listed as SJCX, while of the moment of margining, these coins are now known as STORJ and STORJ ERC20 tokens. The reason behind the merging of Storj with Ethereum lies in the great opportunity Storj developers saw in Ethereum.

They thought of having Storj linked to Ethereum because they saw an amazing opportunity in joining a bigger network – “if you are building a train, you want that train on tracks built as a part of a large network” as stated by Storj officials.

It seems like their move is paying off, mostly because they are making their coin going closer to the mainstream waters in the world of mainstream digital coins, which is always a great strategy – push your coins in the market of other large coins and see what happens.

Also, thanks to being a cheap way of storing any digital information and content, many people are switching from using “old-fashion” third-party cloud storages that cost a lot of money. By changing the old ways of having their data stored on a decentralized platform, that enables them to gain access to prototype pieces of blockchain as well as facilitating secure transactions.

Now that you can swap any of the supported coins directly for STORJ on Shape Shifter or Ethereum, it is even easier to get a hold of this interesting coin. With the merging of Ethereum and Storj, Storj users are also able to use smart contracts as well as purchase any of available apps (Dapps), products and services, now being a part of a more extensive network that is Ethereum.

Where is Storj at Now?

With the most recent increase in the last 24 hours, Storj rebounded 29.44%, making the total price of Storj 1.31$ per one unit. That means that the total market cap of this coin is over 176 million dollars with 133 million coins in use and circulation. As things are going at the current moment, Storj holders and investors seem to be on the right track with placing their investments in this fast-growing digital currency.

We will be updating our subscribers as soon as we know more. For the latest on STORJ, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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