Storj Blog

At Storj, we are building a next-generation decentralized cloud storage platform. We make decentralization possible by enabling anyone to rent out their extra hard drive space, similar to how you would rent out an extra room on Airbnb, or your car on Turo. One of the challenges we face is implementing a payments system that is accurate, timely, and can scale to millions of users. In October, our CTO Philip Hutchins published an article in Forbes about creating scalability on the Ethereum blockchain, which detailed some of the difficulties and challenges we’ve experienced sending token payments to our hundreds of thousands of storage node operators.
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Each year, the amount of data annually created roughly doubles. Cloud computing has emerged as a highly efficient and profitable enterprise where the largest companies on the planet are investing billions of dollars and Moore’s Law continues to hold. In such an environment, wouldn’t you expect cloud storage prices to drop? Unfortunately, the answer is no. There are only three major cloud storage providers in the world outside of China: Amazon, Google, and Microsoft.
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A debate in the open source community recently erupted when Redis created a new licensing clause called the Common Clause to address its revenue dilemma. At the crux of the debate was whether or not current open source revenue models are sustainable in the cloud era and if new licensing could solve the problem. Some argued that increasing license complexity would reduce open source adoption, while others said that open source companies and projects were being abused by the massive cloud providers and Redis’ approach was a pragmatic solution.
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Today, I’m pleased to announce that we are launching the private alpha of the V3 network. We’ve come a long way since announcing earlier this year that we would be rebuilding the network to achieve better scalability. Since that announcement, the team has been working hard to design and build a network that will be able to scale well into the exabyte range, putting us on the same playing field as the largest cloud storage companies currently out there.
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