Storj logo

Storj

STORJ

Price
$0.33
12/3/2022, 3:27:24 PM
diamondHands

Trade Storj today

Create a Coinbase account to buy and sell Storj on the most secure crypto exchange.

Market

Market stats

Market cap

$137.3M

Volume (24h)

$15.0M

Circulating supply

412.9M STORJ

Typical hold time

20 days

Trading activity

Not enough data

Popularity

#82

All time high

$3.91

Price change (1h)

-0.03%

Price change (24h)

-0.77%

Price change (7d)

-0.39%

Sign up now to get up to $400 in rewards

Coinbase users can earn up to $400 on average just by taking advantage of our rewards. Get started now.

congratulationsOnEarningCrypto

Storj is on the decline this week.

The price of Storj has fallen by 0.39% in the past 7 days. The price declined by 0.77% in the last 24 hours. In just the past hour, the price shrunk by 0.03%. The current price is $0.33 per STORJ. Storj is 91.49% below the all time high of $3.91.

The current circulating supply is 412,937,122.136 STORJ.

About

Storj (STORJ) is an Ethereum token that powers a decentralized cloud storage network for developers called Storj DCS (Decentralized Cloud Storage). After a customer uploads a file to Storj DCS, pieces of each file are distributed to a global network of independent nodes. When someone requests the file, it is then recompiled securely and made available for download. This means that anyone can store files on Storj DCS without having to trust a centralized data center. Developers can purchase cloud storage services with STORJ. Network participants earn STORJ in return for providing unused hard drive space and bandwidth to the network.

What Is Storj (STORJ)?

Storj (STORJ) is a decentralized platform that allows users to safely store their files or data on the global cloud network. Using Storj DCS (decentralized cloud storage), files are encrypted, split into parts, and distributed throughout a global cloud network. Storj DCS automatically encrypts all files before uploading them, ensuring that only users and those with whom they share their information have access to it.

As mentioned on the website, every file is encrypted using AES-256-GCM symmetric encryption. This is a standard on every file, which ensures that no unauthorized user can access it. Also, users have complete control over their data. They can give and take away permission at any time. 

Furthermore, every file gets split into 80 parts. However, retrieving a file requires only 29 parts. Each of the 80 parts is stored on a separate node, each with its own set of operators, power supplies, networks, and geographical locations. Splitting of files provides unparalleled performance and longevity. This way, the network’s decentralized structure improves security and privacy for users, enabling a reliable performance compared to centralized storage providers.

Next, the split parts are individually stored over a global network of storage nodes.  Thousands of nodes collectively make up this global network, and the nodes are selected by reputation and local latency. These reputable nodes are selected at random, weighted by network diversity, and then tried to upload to a bigger set of those selected nodes. The fastest nodes from this set of nodes are selected to store files.

Storj token, with the ticker STORJ, is the utility token of the platform. The whitepaper states that the token is and Ethereum-based token that follows ERC20 standards, which define the common set of rules for new tokens to function in the Ethereum ecosystem. The token is used for making payments by clients who store data on the platform to the satellite they use.

History of Storj (STORJ)

Storj Labs is the company behind the Storj platform, which was founded in 2014 by Shawn Wilkinson and John Quinn. The whitepaper v3.0 was launched on October 30, 2018.

In a public crowdsale in 2014, Storj Labs raised 910 BTC (about $460,000 at the time). The firm raised $3 million in seed funding in early 2017, and later that year, Storj held a token sale, raising $30 million.

How Are New STORJ Tokens Created?

STORJ tokens can be created through mining, which is a process that Bitcoin and several other cryptocurrencies use to create new coins. The process requires a vast, decentralized network of computers around the world that verify and secure blockchains. In return, the computers are rewarded with new coins. For mining the coins, the proof-of-work consensus mechanism is utilized. In this, virtual miners compete from all around the world to solve a math problem in order to secure and verify proof-of-work blockchains. 

The Storj platform uses this mechanism to form the nodes on the blockchain. For mining STORJ, instead of providing computing power, users provide HDD space. The users are rewarded based on the program for their participation on the platform.  

How Many STORJ Tokens Are There?

STORJ tokens, like many other cryptocurrencies, have a finite supply, which means that there will only ever be 500 million STORJ.

How to Buy STORJ Tokens

Users can buy STORJ tokens at several cryptocurrency exchanges like Coinbase, which is quick, secure, and easy.

Related Assets

Trending assets

Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.

Popular cryptocurrencies

A selection of cryptocurrencies in the top 50 by market cap.

Recently added

A selection of the most recently added cryptocurrencies.

Comparable market cap

Of all the assets on Coinbase, these 8 are the closest to Storj in market cap.

Coinbase Bytes

Coinbase Bytes

The week’s biggest crypto news, sent right to your inbox

FAQ

What is the current price of Storj?

The price of 1 Storj currently costs $0.33.

What is the market cap of Storj?

The current market cap of Storj is $137.34M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Storj?

The all-time high of Storj is $3.91. This all-time high is highest price paid for Storj since it was launched.

What is the 24 hour trading volume of Storj?

Over the last 24 hours, the trading volume of Storj is $15.02M.

What other assets are similar to Storj?

Assets that have a similar market cap to Storj include WEMIX, LINK, Horizen, and many others. To see a full list, see our comparable market cap assets.

How many Storj are there?

The current circulating supply of Storj is 413 million.

What is the typical holding time of Storj?

The median time that Coinbase customers hold Storj before selling it or sending it to another account or address is 20 days.

What is the relative popularity of Storj?

Storj ranks 75 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Storj?

Currently, 74% of Coinbase users are buying Storj. In other words, 74% of Coinbase customers have increased their net position in Storj over the past 24 hours through trading.