Storj is a proposed decentralized storage system that seeks to disrupt the cloud storage industry by dramatically lowering costs to cloud storage users. It would do this by paying incentives to storage providers in the form of a “blockchain-based dual-purpose token” that would also store information about file integrity and storage locations. The Storj network would autonomously issue, collect, and distribute these tokens so that users could pay for storage and be paid for providing storage. All data would be encrypted, preferably client-side, before being uploaded to the network. We believe that Storj should simply be a mechanism for users to store their data, and the end-user should have control over their data and privacy.
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