STORJ Could Make you Millionaire? Storj Price Prediction 2021 And Storj News

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Storj enables decentralised cloud storage
What is Storj? Storj is an open-source protocol that uses blockchain to provide encrypted peer-to-peer cloud storage services developed by Storj Labs. The network uses the STORJ token as an exchange of value. The company does not have its own data centres but facilitates individuals and organisations sharing available or excess storage space. Those participating in the network are nodes and receive STORJ tokens as a reward.

Software developer Shawn Wilkinson and co-founder John Quinn launched the first white paper detailing the concept in 2014. The company Storj Labs was formed in May 2015 and the platform was launched in 2018.

The entire supply of 500 million STORJ tokens was mined on the Ethereum blockchain at launch. A token sale released 75 million into circulation and there are now 287.1 million tokens in circulation, based on data from coinmarketcap.com. No more STORJ tokens can be created from mining but storage providers and users farm tokens on the network by lending, or staking, their tokens.
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