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NewbieActivity: 30Merit: 0 [ANN] Storjcoin X (SJCX) - A Coin for Decentralized Cloud Storage July 20, 2014, 08:40:37 PM

Last edit: July 20, 2014, 11:49:12 PM by Storj #1 storj.io



Beginning on Friday, July 18, 2014 at 8:00 AM (EST), Storj began releasing Storjcoin X (SJCX). This token will serve as a means of exchange for cloud storage space and bandwidth across the Storj network. Users will obtain SJCX by renting out their resources to the network via DriveMiner when it is released in the near future, and theyll be able to rent space from other users using Metadisk. Participants in the crowdsale, which went live at the same time, will also receive SJCX according to how much they contribute.



Total supply: 500,000,000 coins

Protocol: Issued on top of Counterparty (XCP)

Crowdsale Page: http://storj.io/crowdsale.html



Storj Explained in 60 Seconds

https://www.youtube.com/watch?v=vl3bUzfn2lg



Decks

https://speakerdeck.com/super3/storj-crowdsale-deck

https://speakerdeck.com/super3/storj-deck-v1



Why Storjcoin X?



We love Bitcoin; we only created Storjcoin X because we had to. We are working on implementing features like sending data to an address, key-resource, etc., and it is not possible to implement these features on Bitcoin because of the metadata size limits. By using Storjcoin X we have some flexibility in terms of implementation.



Unlike other cryptocurrencies, we plan to reintegrate with Bitcoin should treechains or sidechains become viable via a hard fork, but we are simply are not going to wait for it.



Exchanges



We have already been contacted by a few exchanges. Exchanges will go live at the end of the crowdsale. If you would like to add SJCX, please contact



Wallet



Since Storjcoin X will be implemented on Counterparty, a compatible wallet is required such as



Allocation



The coins will be created in advance in order to satisfy the demand of crowdsale participants. Any additional coins not sold in the crowdsale will be allocated to the developer pool, to be distributed to crowdsale participants through hard driving mining (also known as farming) or use in future crowdsales (decentralized Youtube, Imgur, etc. on Storj). Developers will not use these coins to dump for financial gain.



Crowdfunding Sales - 70%

Community Pool - 15%

Developer Pool - 15%



Community Pool

Storj believes that that the devs should not rule the coin. After all, that's not decentralization, is it? We are trying something completely new by issuing a community pool equal to the developer pool. Any BTC in the community pool will be managed with Bitpays multi-signature Copay wallet. We will have to build a multi-signature wallet for SJCX.



Funds will be managed by trusted community members who will listen to and act upon community proposals. This will be the first coin that allows the community to have equal power to the developers.



Make your voice and proposals heard at



Mining



Users will not mine the coins in a traditional way. Instead, they will be compensated for providing their unused resources to the network via DriveMiner. This process will be simplified within the application.



Block Explorer



http://blockscan.com/assetInfo.aspx?q=SJCX



Social Media



Updates regarding Storjcoin X will be posted on the Storj social media profiles, the Storj forum, and/or here on Bitcointalk.



Storjtalk Forum

Twitter

Subreddit

Facebook

Google+

LinkedIn Beginning on Friday, July 18, 2014 at 8:00 AM (EST), Storj began releasing Storjcoin X (SJCX). This token will serve as a means of exchange for cloud storage space and bandwidth across the Storj network. Users will obtain SJCX by renting out their resources to the network via DriveMiner when it is released in the near future, and theyll be able to rent space from other users using Metadisk. Participants in the crowdsale, which went live at the same time, will also receive SJCX according to how much they contribute.: 500,000,000 coins: Issued on top of Counterparty (XCP)We love Bitcoin; we only created Storjcoin X because we had to. We are working on implementing features like sending data to an address, key-resource, etc., and it is not possible to implement these features on Bitcoin because of the metadata size limits. By using Storjcoin X we have some flexibility in terms of implementation.Unlike other cryptocurrencies, we plan to reintegrate with Bitcoin should treechains or sidechains become viable via a hard fork, but we are simply are not going to wait for it.We have already been contacted by a few exchanges. Exchanges will go live at the end of the crowdsale. If you would like to add SJCX, please contact hello@storj.io Since Storjcoin X will be implemented on Counterparty, a compatible wallet is required such as CounterWallet The coins will be created in advance in order to satisfy the demand of crowdsale participants. Any additional coins not sold in the crowdsale will be allocated to the developer pool, to be distributed to crowdsale participants through hard driving mining (also known as farming) or use in future crowdsales (decentralized Youtube, Imgur, etc. on Storj). Developers will not use these coins to dump for financial gain.Crowdfunding Sales - 70%Community Pool - 15%Developer Pool - 15%Storj believes that that the devs should not rule the coin. After all, that's not decentralization, is it? We are trying something completely new by issuing a community pool equal to the developer pool. Any BTC in the community pool will be managed with Bitpays multi-signature Copay wallet. We will have to build a multi-signature wallet for SJCX.Funds will be managed by trusted community members who will listen to and act upon community proposals. This will be the first coin that allows the community to have equal power to the developers.Make your voice and proposals heard at http://storjtalk.org/ Users will not mine the coins in a traditional way. Instead, they will be compensated for providing their unused resources to the network via DriveMiner. This process will be simplified within the application.Updates regarding Storjcoin X will be posted on the Storj social media profiles, the Storj forum, and/or here on Bitcointalk.

DougB62



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Hero MemberActivity: 672Merit: 500Banned: For Your Protection Re: [ANN] Storjcoin X (SJCX) - A Coin for Decentralized Cloud Storage July 20, 2014, 09:21:44 PM #12 The idea of storj is brilliant though. Th reason I will not use cloud storage for anything but the most mundane of files, is that some company has the damn "key" to my files. Not only that, but hackers could conceivably gain access to them at any time by hacking some general db of the cloud storage company.



I love the idea of "shredding", and then storing the "shreds" all over the network - all accessible only through your privkey. I think that's a brilliant idea that will be well received. Anonymity and decentralization - that's crypto after all. This fits, and could really take off if implemented correctly.



I will be watching this for sure.

Storj



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NewbieActivity: 30Merit: 0 Re: [ANN] Storjcoin X (SJCX) - A Coin for Decentralized Cloud Storage July 20, 2014, 09:27:16 PM #13 Quote from: exoton on July 20, 2014, 09:00:19 PM so when and how can i start "mining" ?

We are currently finishing up and testing the apps that will allow you to do this. As a crowdsale participant, one of the benefits is you will be able to get access to Metadisk (currently in its beta) and then to DriveMiner in the very near future.



Quote from: Moon Follow Me on July 20, 2014, 09:01:28 PM as far as i understand dev wants to sell 70% of all coins for 9,800 BTC (~$6m) on crowdsale, leave 15% for yourself and another 15% for giveaways. you must be a fool if you are going to invest in.

We do not intend to reach 9,800 BTC. The main point of this crowdsale is to cover our costs up to this point along with providing funding for the future. The crowdsale will go to developer salaries (several people are working full time on this project), development of new protocols and applications, and marketing. The community pool and the developer pool are ways for outstanding community members to be rewarded for contributing to the project.



A majority of altcoins released today have premines held completely by the developers. Storj changes this by allocating half of these funds to the community so that we, the developers, do not have all of the say. We are currently finishing up and testing the apps that will allow you to do this. As a crowdsale participant, one of the benefits is you will be able to get access to Metadisk (currently in its beta) and then to DriveMiner in the very near future.We do not intend to reach 9,800 BTC. The main point of this crowdsale is to cover our costs up to this point along with providing funding for the future. The crowdsale will go to developer salaries (several people are working full time on this project), development of new protocols and applications, and marketing. The community pool and the developer pool are ways for outstanding community members to be rewarded for contributing to the project.A majority of altcoins released today have premines held completely by the developers. Storj changes this by allocating half of these funds to the community so that we, the developers, do not have all of the say.

Storj



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NewbieActivity: 30Merit: 0 Re: [ANN] Storjcoin X (SJCX) - A Coin for Decentralized Cloud Storage July 20, 2014, 09:55:14 PM #16 Quote from: profitofthegods on July 20, 2014, 09:17:54 PM Love the name!



I'm a big believer in the importance of product names and their ability to make or break a business - and this has a perfect name: short and descriptive, but yet without actually being a real word (at least not in English, not sure if its from another language). I reckon if Storj can come even close to living up to the promising tech innovations, then it has a great chance of being a hit.

Quote from: DougB62 on July 20, 2014, 09:21:44 PM The idea of storj is brilliant though. Th reason I will not use cloud storage for anything but the most mundane of files, is that some company has the damn "key" to my files. Not only that, but hackers could conceivably gain access to them at any time by hacking some general db of the cloud storage company.



I love the idea of "shredding", and then storing the "shreds" all over the network - all accessible only through your privkey. I think that's a brilliant idea that will be well received. Anonymity and decentralization - that's crypto after all. This fits, and could really take off if implemented correctly.



I will be watching this for sure.

Thank you both for the support! We are striving for nothing but the best end product. We will make sure the community is aware of updates on the project as they come up as well. Thank you both for the support! We are striving for nothing but the best end product. We will make sure the community is aware of updates on the project as they come up as well.