Storj Ico Review

Storj Ico Review – Decentralized Cloud Storage

About Storj

The Internet is a massive decentralized and distributed network consisting of billions of devices which are not controlled by a single group or entity. Much of the data currently available through the Internet is quite centralized and is stored with a handful of technology companies that have the experience and capital to build massive data centers capable of handling this vast amount of information. Storj few of the challenges faced by data centers are: data breaches, periods of unavailability on a grand scale, storage costs, and expanding and upgrading quickly enough to meet user demand for faster data and larger formats. Decentralized storage has emerged as an answer to the challenge of providing a performance, secure, private, and economical cloud storage solution.

Decentralized storage is better positioned to achieve these outcomes as the architecture has a more natural alignment to the decentralized architecture of the Internet as a whole, as opposed to massive centralized data centers. News coverage of data breaches over the past few years has shown us that the frequency of such breaches has been increasing by as much as a factor of 10 between 2005 and 2017 [1]. Decentralized storage’s process of protecting data makes data breaches more difficult than current methods used by data centers while, at the same time, costing less than current storage methods.

Storj Key Information

KeyPoints
Token NameStorj
Sold tokens500,000,000
Average price0.14 USD
Distributed in ICO55%
Tokens for sale500,000,000
CountryUSA
AcceptingETH, BTC
Token SymbolSTORJ
Token TypeERC20
Raised$30,000,000
PlatformEthereum
Price in ICO0.5000 USD
WhitepaperClick Here For View Whitepaper
WebsiteClick Here For Visit ICO Homepage

The Game Change Team Behind Storj

Storj Ico Review - Decentralized Cloud Storage

Storj design constraints

Before designing a system, it’s important to first define its requirements. There are many different ways to design a decentralized storage system. However, with the addition of a few requirements, the potential design space shrinks significantly. Your design constraints are heavily influenced by your product and market fit goals. By carefully considering each requirement,Storj ensure the framework choose is as universal as possible, given the constraints.

Security and privacy

Storj Any object storage platform must ensure both the privacy and security of data stored regardless of whether it is centralized or decentralized. Decentralized storage platforms must mitigate an additional layer of complexity and risk associated with the storage of data on inherently trusted nodes. Because decentralized storage platforms cannot take many of the same shortcuts data center based approaches can (e.g. firewalls, DMZs, etc.), decentralized storage must be designed from the ground up to support not only end-to end encryption but also enhanced security and privacy at all levels of the system.

Decentralization

Informally, a decentralized application is a service that has no single operator. Furthermore, no single entity should be solely responsible for the cost associated with running the service or be able to cause a service interruption for other users. One of the main motivations for preferring decentralization is to drive down infrastructure costs for maintenance, utilities, and bandwidth.

Marketplace and economics

Public cloud computing, and public cloud storage in particular, has proven to be an attractive business model for the large centralized cloud providers. Cloud computing is estimated to be a $186.4 billion dollar market in 2018, and is expected to reach $302.5 billion by 2021 [4]. The public cloud storage model has provided a compelling economic model to end users. Not only does it enable end users to scale on demand but also allows them to avoid the significant fixed costs of facilities, power, and data center personnel.

Framework

After having considered Storj design constraints, this chapter outlines the design of a framework consisting of only the most fundamental components. The framework describes all of the components that must exist to satisfy Storj constraints. As long as your design constraints remain constant, this framework will, as much as is feasible, describe Storj both now and ten years from now. While there will be some design freedom within the framework, this framework will obviate the need for future re-architectures entirely, as independent components will be able to be replaced without acting other components.

Audits and reputation

Incentivizing storage nodes to accurately store data is of paramount importance to the viability of this whole system. It is essential to be able to validate and verify that storage nodes are accurately storing what they have been asked to store. Many storage systems use probabilistic per-file audits, called proofs of reliability, as a way of determining when and where to repair files [47, 48]. Storj are extending the probabilistic nature of common per-file proofs of reliability to range across all possible files stored by a specific node.

Audits, in this case, are probabilistic challenges that confirm, with a high degree of certainty and a low amount of overhead, that a storage node is well behaved, keeping the data it claims, and not susceptible to hardware failure or malcontent. Audits function as “spot checks” [49] to help calculate the future usefulness of a given storage node.

Concrete implementation

Storj believe the framework they’ve described to be relatively fundamental given your design constraints. However, within the framework there still remains some freedom in choosing how to implement each component. In this section, In this lay out your initial implementation strategy. A company expect the details contained within this section to change gradually over time. However, company believe the details outlined here are viable and support a working implementation of your framework capable of providing highly secure, performant, and durable production-grade cloud storage.

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