What is Storj? Storj is an open source project actively developing a completely decentralized, secure and efficient cloud storage service that integrates a peer-to-peer protocols based on Bitcoin.

The Problem of Centralized Data Storage It's no secret that the last few years have seen turmoil for the security and privacy of web users. There have been record setting data security breaches from private enterprise databases. The amount of personal data of all kinds stored by private enterprises and national governments is at never before seen levels, with critically faulty security protection guarding it. Enormous file hosting sites like Megaupload have been shut down, depriving customers access to the cloud storage they paid for. Startling revelations have been published showing that Government spy agencies monitor anyone’s internet activity in real time and access any files or data they have put on seemingly secure cloud storage hosts like Dropbox or OneDrive routinely, for undisclosed reasons, in secret, without any due process of law, in clear violation of the rule of law worldwide. People are afraid of using the internet, and rightly so. People are afraid of companies that offer them cloud storage, knowing that information is power, and that power is being abused. The problem boils down to one of centralization of data storage for millions of people in single locations, the transmission of data in plain text, and centralized data administration firms who are required by law to breach their own customers’ privacy.

The Solution of Decentralized Data Storage Storj is a Decentralized Autonomous File Storage Network. The network runs on a protocol, cryptocurrency, and suite of decentralized applications that allow users to store data in a secure and decentralized manner. It uses Bitcoin’s features of a public transaction ledger, public/private key encryption, and cryptographic hash functions for security. Storj nodes, or average computers running the software, sell resources used to store and transfer information for Storjcoins (or other cryptocurrencies). This allows users to run the software and be incentivised for sharing their unused hard drive space and bandwidth. Since many millions of computing device users have unused computing resources, that are going to waste, a way to convert those resources into a digital cash reward should quickly become popular. By using the Bitcoin model, we can create a data storage system that can’t be censored, monitored, or suffer downtime. Furthermore, it will be 10 to 100 times cheaper, faster, and more secure than traditional cloud storage services. If you would like more technical info we encourage you to read our whitepaper .