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Storj (STORJ): Decentralized Cloud Storage

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Storj

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launched by an anonymous hacker known under name Satoshi Nakamoto, services with third parties like Dropbox are slowly outdated.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

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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