Investing in coins I don't currently have. $100 a week for at least 10 weeks. Giving away free crypto each time I invest.
Week 6 - Storj (STORJ)
Market Cap - $26,160,166
Price - $0.371318
Supply - 70,452,190 STORJ
$100 nets ~269 STORJ tokens
https://storj.io/
Foreward
Previously known as Storj Coin X (SJCX), Storj has recently migrated to the Ethereum blockchain as an ERC-20 token. It was migrated 1:1 meaning one SJCX equals one STORJ. A conversion app has been created specifically for converting SJCX into STORJ, and it will not be up indefinitely. If you hold SJCX convert them soon because there is no guarantee after the conversion app is taken down.
What is Storj?
Storj is a peer-to-peer cloud storage network. Most cloud storage solutions rely on single companies with large storage providers. Through the magic of blockchain technology, Storj has brought cloud storage to a trustless platform. Currently, when you store your files in the cloud it is controlled by a company. This leaves your files exposed to inherent weaknesses like insider attacks, malware or application flaws that expose data. By using decentralized, distributed cloud storage, data on the network will be resistant to censorship, tampering and unauthorized access.
The people that use Storj are called farmers. They are paid STORJ for the available storage space they offer. This is how using Storj works.
When someone wants to use Storj, the first step is for them to encrypt the file(s). This way they are the only ones who can view said files. Then after the file is encrypted, it is broken into shards. The number of shards varies depending on the contracted agreement, but the larger the file the more shards is my general understanding. Then, multiple copies of each of these shards are sent to different storage locations, wherever Storj members are located. Breaking the files into shards give the end user greater security, privacy, performance and availability.
Proof of retrievability is also offered to customers. To provide knowledge of data availability to the data owner, Storj provides a standard format for issuing and verifying proofs of retrievability via a challenge-response interaction called an audit.
At the moment, Storj has a working product and farmers are being paid. Storj has also recently integrated with FileZilla, which gives it a huge bump in exposure. There are currently some questions that are unanswered so please do thorough research to decide if Storj is a good coin for you!
I will be giving away 75 STORJ tokens. Just leave a working STORJ address in the comments by Friday, August 11th and a winner will be chosen at random.
Week 2 - BitBay
Week 3 - WeTrust
Week 4 - Vertcoin
Week 5 - Swarm City
