Storj - A Decentralized Dropbox - And, Of Course, Its ICO

I've been playing with Storj for a while now and I have a neutral to favorable opinion about it. For those of you unaware, Storj is one of the cryptocurrencies mined "with your storage space". Apart from Storj, another actors in this field are Siacoin and Burstcoin (an NXT mashup). I briefly played with both but in the end I chose Storj for an extended trial.

As usual, here the most important points:

  • Storj server software is written in Node.js, which makes it suitable for small computing units. As a matter of fact, it looks like raspberry pis with attached external storage units combos are quite common in the Storj ecosystem. There are GUI versions for all major OSes, like Windows, Linux and MacOS, I've tested the Mac OS version and the Linux server on a raspberry pi.

  • you mine with a combination of the storage space you can afford to offer and the bandwidth.

  • coins are distributed once per month now, after all calculations are done. If your occupancy is less than 1GB you don't get paid. During my first 20 days I didn't get over 600MB, so I have zero coins so far. But according to the Storj website, you pay $0.015/GB/month, so as a provider you should get less than that.

  • In about a month, a 850GB storage unit got 3GB in occupancy, which is less than 0.3%.

  • there will be an ICO in less than two weeks (called "tokensale" on the official website), in which the value of the coin is set up at $0.5 (here you can find more details)

All in all, I find the idea very interesting and lucrative, as I think there is a significant amount of unused storage space in the world, which is rapidly increasing along with the dropping price per GB (or TB). The success of such a venture, which aims to create a decentralized Dropbox, lies in execution. So far, the Storj ecosystem seems very active and the community is solid.


I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.


Dragos Roua


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