If you have an appetite for Financial Technology, then you are sure to have heard about Storjcoin X. Storj itself aims to offer a cloud storage platform that is completely protected and can not be monitored by any third parties. It allows you to store your data in a completely decentralised way by using Blockchain technology. The famed Storjcoin (SJCX) was launched in July 2014, as a form of cryptocurrency that allows users to purchase this storage. Find out about its conversion to Storj Tokens (STORJ) in this Storjcoin X review.
The History Of Storj And Storj Share
Storj itself encompasses a platform, a suite of applications and a cryptocurrency. It allows the cloud storage of data securely as the files are encrypted and shredded into small pieces. These are then stored using Blockchain technology in a network of decentralised computers. Only the owner retains a complete copy of the stored data. This Storjcoin X Review highlights how this makes Storj a cheaper, faster and secure option to other storage platforms.
Storj Share offers an open-source app, allowing its users to rent out any extra space that they have on their hard drives. In exchange, they receive a cryptocurrency payment. The process is called Drive Farming and can be compared to the mining of traditional cryptocurrencies. Farmers specify a folder for network data on their hard drives, and then compete to produce and agree on competitive prices, to win the users business.
What Is Storjcoin X (SJCX) and STORJ ?
Storjcoin X (SJCX) was the first currency issued to allow users both to purchase extra storage or to earn money from Farming. The currency originally used the Bitcoin Blockchain for all the transactions. However, in June 2017, Storj converted to the Ethereum Blockchain and started to issue Storj Tokens (STORJ). The Storjcoin X is no longer used, so read more about moving from SJCX to STORJ in this Storjcoin X Review.
SJCX is now a legacy currency and can still be used in private transactions. However, it can not now be used to purchase any storage and is no longer supported by Storj software or network. Everyone is in the process of converting any remaining SJCX into STORJ tokens. If you currently have SJCX, then it is important to check out how to convert your currency as it will no longer provide all the features that STORJ does.
Storj Benefits In Summary
The new STORJ token can not only be utilised to buy cloud storage. It can be used to power applications and ecosystems on the Storj platform and allows users to access services such as DNS automation and Bridge server contracts. As the facilities available on the Storj network grows, it is envisaged that the number of uses for the new STORJ token will also increase. It is, therefore, certainly a platform and cryptocurrency to watch out for over the coming year!