STORJ Coin – Everything You Need to Know by CoinSwitch
What is Storj ?
Storj (STORJ) is an Ethereum token used to power distributed cloud storage for different developers known as Storj DCS. It is Decentralized Cloud Storage in which all the files are distributed into smaller fragments over the global network, comprising smaller network branches. Similarly, when a user requests a file, all the tiny pieces of the file are assembled from different networks and then securely made available for the user.
It allows easy storage of files on Storj DCS without the requirement of a collective data center. All the developers can easily buy cloud storage, which they can use to earn STORJ by allowing others to use their hard drive storage.
Primary features of Storj
Provides a secure and flexible storage space.
Provides end-to-end data encryption using key encryption.
Allows peer-to-peer transactions for digital currencies.
It is public property and can be used by anyone.
It is S3 compatible, which allows several tools to be efficiently deployed.
It easily integrates with other existing stacks.
Is Storj a promising cryptocurrency?
The future aspect of the Storj exchange is very bright. Additionally, it is considered highly secure and easy to use. Therefore, according to market analysis, the price is subject to increase in the coming future.
It has been predicted that it will provide its investors a return of 95.02%, as the price has increased from $0.951 to $1.855 in a short span of one year. The STORJ coin price currently is $1.11656644944042, which is expected to increase to $3.15 in two years.
How to use Storj?
The Storj cryptocurrency is backed by the Ethereum blockchain and provides a more manageable and secure exchange. You can use them in the following ways.
- Online Payment:
It can be used to process online transactions.
- International Transfer:
It allows easy transfer of funds all across the globe.
It provides cloud storage that can be later used as leverage to earn STORJ coins.
Pros & Cons of Storj
Provides safe and encrypted cloud storage.
Better storage space:
Provides higher storage space and multiple downloads.
Easy payment options:
It provides several payment options for easy accessibility and feasibility.
Any commodity does not support the STORJ coin.
It requires computing skills to use the platform.
Trade Storj on CoinSwitch
The user can start investing from a small amount of ₹100 only.
You can easily trade the Status coin.
No lock-in period is required to be accomplished.
There are no charges involved in the processing of transactions.
It provides the best market price available all across the globe.
Storj ICO summary
The Storj (STORJ) Coin was made available for crowd sale on 17 May 2017, and the distribution ended after three days, i.e., 20 May 2017. In these three days, the ICO raised an amount of $30,000,000. It was stated to be a utility token for cloud storage. The initial price was allowed to be $0.5 for 1 Storj (STORJ) coin.
The token’s total supply was limited at 500,000,000 SJCX, while the crowd sale supply was limited to 25% only. It was previously known as SJCX and later converted to STORJ on the Ethereum blockchain.
FAQ's on Storj
- Who is the founder of STORJ?
Shawn Wilkinson is the founder of the Storj (STORJ) coin.
- What is the market cap of STORJ Coin?
The market cap of STORJ crypto is $356.907 million.
- What is the market rank of STORJ Coin?
The market rank of STORJ is currently situated at 126.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.