Storj is an open-source cloud storage platform. Hence, it’s pronounced as "storage".
Shawn Wilkinson launched the project in May 2014. In December 2014, he and John Quinn published a whitepaper. Initially, Storj was supposed to be a concept. The development team presented it as a decentralized peer-to-peer encrypted cloud storage platform. Storj was incorporated into Storj Labs Inc. in May 2015.
However, in 2016, the project became a decentralized network that works as a bridge between users who need cloud storage space and those who sell hard drive space.
Finally, the platform was launched in late 2018. V3 version was issued in the middle of 2019. Today, Storj uses a decentralized network of nodes to keep user data.
To fund the project, the company held a public crowd-sale in 2014 and raised 910 Bitcoin (around $460,000 at that time). A seed funding round took place in 2017, and the company raised $3 million. The token sale occurred the same year and added an additional $30 million.
The project has its native token STORJ. At first, there were around 500 million tokens minted on the Ethereum blockchain. After the token sale, 75 million tokens were burned. Today, 425 million tokens are in circulation. In 2017, the project locked up 245 million tokens to keep them as a reserve. The token sale led to an additional 70 million tokens being sent into circulation.
You can trade the STR/USD pair at LiteFinance via a CFD. Although the price has skyrocketed several times, with an all-time high set on March 28, 2021, at $3.91, its uptrend is not solid. To trade STORJ to USD, you don’t need to pay attention to the growth potential of STORJ against the US dollar. CFD trading provides opportunities no matter where the price moves.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.
