Time inexorably goes by, and crypto-analogs come in place of ordinary currencies, which allow you to move information over long distances. Their advantages – decentralization, security, as well as positive volatility – that is what attracts more and more users every day. It is gratifying that after the appearance of Bitcoin – the big brother for most virtual currencies – from time to time new analogs of Internet money appear. For example, Storjcoin, a payment system and at the same time a set of applications.
What it is?
As mentioned above, this is a decentralized payment system, as well as a set of special applications that allow decentralized storage of information. Everything in the system, as in the best traditions of the blockchain, is private encryption keys, as well as hashes of the function that support wallet security. Information is stored both on specialized Storj nodes and on users’ personal computers. At the very beginning, the cryptocurrency was based on bitcoin and later switched to Ethereum, since this blockchain system provides more opportunities.
Using special software, the client can lease disk space that is not used by him. During open system testing, the maximum space that can be used on the system participant’s computer is 25 gigabytes. To participate in the testing process, you need to download specialized software, then create an account in the system, and then purchase 10,000 coins, which will be used to service the software. There is no mining of electronic money since all coins have already been extracted, more than 500 million. Most of these funds are intended to pay rented disk space.
To conduct test launches, the creators developed the DriveShare GUI 0.5 application. It is based on the alpha version of the blockchain system. Developers thoroughly test their information product, rewarding project participants with a large number of SJCX.
You can start trial runs by downloading the latest DriveShare GUI. It is provided both in the form of code and in the form of a binary released for most well-known operating systems. This software is needed in order to share free space on the HDD with the Storj project, as well as start participating in testing the service. The system interface is extremely simple – the consumer will immediately appreciate it.
After downloading the program, you need to create an SJCX address in order to receive rewards from participating in the testing. As mentioned above, a participant must store at least 10 thousand SJCX of Internet money in order to receive a reward for providing hardware.
In addition, off-site Storj offers to create a keeper on CounterWallet – a popular virtual wallet. But the deposits created by exchange exchangers do not need to be applied – the consumer will not receive complete control over the account, as well as the Private Key.
After that, you need to purchase 10 thousand Internet coins – a sufficient amount in order to receive rewards for transferring the rental space of your PC. You can buy SJCX at Poloniex or Bittrex, as well as through a service such as CounterWallet, but sales volumes are minimal there.
It should be noted that for the transaction Storj you need to pay a commission in bitcoins. Therefore, it is best for the client to keep a certain amount of BTC in their account in CounterWallet.
The client may be faced with low occupancy rates at Poloniex and Bittrex, which can make the cost of virtual coins much more expensive than the average value. Today this is the only big obstacle to the normal functioning of the system, which has high expectations.
The data obtained from exchanges indicates a significant increase in the cost of the Storj cryptocurrency before the full functioning of the system, as well as after the news about the transition from the Bitcoin blockchain system to the Ethereum blockchain. The currency shows considerable growth, its rate has grown significantly in a short period of time.
At the same time, the Storj leadership explains the transition from Bitcoin to Ethereum by the fact that the functionality of the first is significantly limited, and its software has not been updated for a long time.
Experts believe that Storj Labs is developing in the right direction and today is considered one of the most respected creators of blockchain systems. The use of cryptocurrency in a peer-to-peer network, as well as the use of the software by network participants, significantly speeds up the development of new software products.
Despite the fact that at the testing stage, the software does not show the maximum of its capabilities, and the developers have to significantly supplement it, the online community has considerable hopes for a new cryptosystem. The productivity of the idea, good implementation, advanced software, as well as a convenient user interface – that’s what Storj can play into the hands of.