With so much to discuss about the last few months, and only an hour to do so, we focused on two key topics for our Q2 2018 town hall: farmer payouts and V3 development progress.
Establishing a process for consistent monthly payments is one of our top goals. John Gleeson, vice president of operations, described the following schedule:
John said we are committed to making payments more transparent and efficient, fixing any remaining issues from March and April, and making sure May payments go out on schedule. John introduced a new app that we expect will improve the payout process. Learn more about it in New Farmer Payout App Live on the Storj Blog.
JT Olio, director of engineering, gave an update on V3 development. Quoting Google’s Jeff Dean, JT pointed out that the “right design at X may be very wrong at 10X or 100X.” We need to design for 10X growth, he said, and that necessitates a redesign. At a high level, what we’re building with V3 is a decentralized cloud storage network that can scale to the exabyte range. V3 will feature an Amazon S3-compatible gateway that customers download and run locally that uses a heavy client for metadata, and stores data on farmer nodes. “It takes data, breaks it up, uses Reed Solomon erasure coding, stores it on farmers, and keeps track of metadata on that customer’s account,” JT said.
Ben Golub, Executive Chairman and interim CEO, summed up the state of Storj: “We have the opportunity to make the storage of data dramatically more secure, more performant, more reliable, more private, and more economical than any of the current centralized clouds can provide, and we can do it in a way that provides meaningful economic value for farmers, for open source projects and the broader community,” Ben said.
The town hall included about 15 minutes of presentations and 40 minutes of live questions and answers. If you missed it, you can watch the replay below.