Storj Labs provides secure, affordable distributed cloud storage that gives data ownership back to the user instead of major corporations. The company’s open-source cloud storage platform utilizes spare disk drive space and bandwidth shared by its community members, called Storage Node Operators, to create a secure network for developers, operations teams, companies, and anyone else who needs secure cloud object storage. Storage Node Operators are paid in the form of STORJ cryptocurrency for providing storage and bandwidth.
The distributed architecture and end-to-end encryption on every file protect against attacks, improve reliability, increase download/upload speeds, and enhance performance compared to traditional cloud storage.
Storj Labs Inc. owns and operates the Storj Network. Storj Labs also created the world's first decentralized cloud object storage service called Tardigrade. The company's headquarters are now located in Atlanta, Georgia, USA, with employees working remotely from all over the world.
Shawn Wilkinson is the Founder and Chief Strategy Officer, Ben Golub is the Chief Executive Officer, JT Olio is the Chief Technology Officer, and John Gleeson is the Chief Operating Officer.
In 2014 the cryptocurrency was developed as a fork of Bitcoin and was called Storjcoin X (SJCX). Then, in March 2017, the company made the transition to the Ethereum blockchain. Shortly after, the company issued 500 million new STORJ tokens, replacing the previous SJCX tokens. Those who owned the SJCX tokens were able to exchange them for STORJ at the 1:1 rate. The STORJ token is a utility token used to pay Node Operators on their network. In the spring of 2017, there was an ICO of new utility tokens. The initial token offering brought in roughly $30 million.
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