STORJ cryptocurrency

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15.02.2022 07:43
STORJ cryptocurrency

    STORJ is a cloud storage platform and the project's own cryptocurrency. Its main purpose is to allow some users to store their files in the "cloud" for a small fee, and others to be rewarded for providing their disk space to the former.

    See below for an overview of the project, how the rate of currency STORJ has changed, and whether it is worth investing in it.

    The history of emergence

    Publicly the idea, which was later embodied in the project STORJ, was presented to the world in 2014. Its author was programmer Shawn Wilkinson. He had the idea that blockchain technology (read what blockchain is here) could be used to organize a network in which users could store personal data in a decentralized way.

    Willkinson, who was technically proficient in the subject, was joined by John Quinn, an experienced businessman. Together in 2015 they officially registered the company, raised money for the launch among funds and users who wished to invest, and began developing the STORJ platform and its cryptocurrency.

    How does it work?

    Network users can be divided into 2 groups:

    1. Miners. These are people who provide the network with their hard drive space. STORJ cryptocurrency mining is different from the traditional mining, in which users' computers perform calculations to earn rewards. The miners of this project simply periodically confirm that their disk space is still working and remains online, and for this they receive STORJ coins as a reward.
    2. Regular users. Anyone can use the decentralized network to store their own data. This can be documents, photos, videos, and any other files. To store data on the network, you have to pay for the service with STORJ tokens.

    When a user uploads their data for cloud storage, it is divided into many smaller pieces. Each of these pieces begins to be stored on the hard drives of several miners at the same time to avoid its possible loss.. In doing so, the data is encrypted. Therefore, miners can' t open the files that the network has entrusted to them for storage.

    To become a miner, you need to download a special program, and allocate space on your hard drives, which will occupy the network. A stable Internet connection is also required.

    The advantages of STORJ

    The project has become popular due to a number of advantages:

    • The profitability of STORJ cryptocurrency mining. For users wishing to earn, the project has become an excellent opportunity to earn passive income. You need to set up the program once, and then only maintain the stability of the connection.
    • The price of storage is paid in STORJ cryptocurrency. The use of this platform is cheaper than traditional cloud storage. Therefore, people who know about it actively start using STORJ, as it saves money.
    • The advantages of the project include a stable user base. Data storage is a continual process. Therefore, users who use the decentralized platform to store their files are constantly bringing it profit.

    This has a positive effect on the price of STORJ cryptocurrency. After all, in order to use the storage, users necessarily have to buy it. And the higher the demand, the stronger the rate grows.

    How the price of STORJ cryptocurrency has changed

    The graph shows that the rate of STORJ cryptocurrency rises and falls along with the entire crypto market. When most projects rise in value - the value of tokens of this project rises, and vice versa.

    At the beginning of 2021, you could buy a STORJ token at $0.29 per token. But already at the end of March - beginning of April 2021, the rate rose above $3.5 per coin twice. Therefore, the market participants, who invested in it at the beginning of the year, could multiply their funds by 12 times in less than half a year.

    The next peak price reached in November 2021, when the value reached $3.25 per token. Therefore, the chance to make money on price changes was given more than once.

    Experts that study the project predict growth to $5-10 per token in the long term. They believe that the user base of STORJ cloud storage will increase due to the cost of storage and people's general interest in crypto projects. And this, in turn, will cause the STORJ cryptocurrency exchange rate to rise.

    How to buy STORJ cryptocurrency

    Unlike STORJ cryptocurrency mining, which requires organizing the storage of user files, the simple purchase of tokens is much more affordable. So, if you want to invest in this project, the best way to do it is to buy its tokens.

    You can buy STORJ cryptocurrency with Broex, a legal exchanger operating under a license obtained in Estonia. The company has passed the inspections of regulators, so there is no doubt about its reliability and trustworthiness.

    Broex is ideal for beginners, as it provides:

    • Simple interface. It can be quickly mastered and doesn't take too long to switch to buying cryptocurrencies. Any deal to buy or sell is done in seconds.
    • Technical support. Broex specialists work around the clock. They are ready to help you solve a problem or consult on any issue.
    • Mobile app. You can access trade or purchased assets even with your phone. This saves users from having to sit down at the computer every time they need to access their personal account.
    • Custodial Wallet. Broex eliminates any difficulty in storing cryptocurrencies in third-party wallets.  If you don't withdraw assets from the exchanger, the company itself will take care of the safety of coins.
    • Ability to make a small deposit. The minimum deposit amount is only 1500 rubles. You can deposit money from a bank card or through Advash in rubles, dollars or euros.

    You can always find out the current rate of STORJ cryptocurrency on Broex and buy it at the market price quickly and easily.

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