Storj Blog

With the the previous version of the Storj network, we learned from experience what it takes to scale a distributed storage network to over 100 petabytes. That experience and expertise has led to the development of the V3 network. As it turns out, the network design for petabyte scale isn’t the same as the design for exabyte scale. There are significant differences in all three peer classes in our decentralized and distributed network.
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At our quarterly town hall that was held this week, the Storj team shared details about our progress building the new V3 network, timelines around upcoming releases, and specifics about our token governance and policies. We also had some great questions from developers in the community during the nearly-hour-long Q&A at the end of the presentation. If you missed the town hall presentation, you can watch the YouTube replay below. Closed captioning is available.
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The STORJ token is an integral part of the Storj network, providing an efficient and effective means to facilitate the transfer of value between those who contribute excess storage capacity and bandwidth to the network and those who utilize that excess capacity for the storage and retrieval of data. Today, we are pleased to publish our second quarterly STORJ token balances and flows report. We produced the initial version of this document in November, and have updated it for publication in conjunction with the town hall held on January 16, 2019.
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This is our first development update of the year and we have already accomplished so much in just the past couple of weeks! We are still focusing the majority of our time and effort on the Explorer release, the public alpha for storage node operators. This release will be very important to the network and the community, as we want our storage node operator (SNO) community to start building a reputation on the V3 network and begin to get paid!
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Hello Storj fans, we are back with our highly anticipated part two of Why Replication is Bad for Decentralized Storage. Our first installment made the case that in distributed storage systems, erasure encoding schemes are a better choice over replication. While everyone should stop right now and go read part one if you haven’t read it yet (it really is that awesome) the tl;dr is that the costs associated with redundancy via replication are unacceptably high.
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Storj is a decentralized object storage network where data is encrypted client-side, broken into pieces, erasure coded, and spread across a network of fault-tolerant nodes. The goal for Storj’s V3 network is to provide developers with an object storage solution that is more secure, economical and performant than existing cloud storage options. This is made possible through protocol features like concurrency, parallelism, client-side encryption, and erasure coding (Reed-Solomon). The Storj test network (storj-sim) enables you to run all the components of the Storj platform (Satellite, Uplink client, and storage nodes) and test them on your local machine.
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