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launched by an anonymous hacker known under name Satoshi Nakamoto, services with third parties like Dropbox are slowly outdated.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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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