Storj Blog

Today, we are pleased to publish our first quarterly STORJ token balances and flows report. We plan to update this report for the next town hall, which is currently scheduled for January 2019, and then continue to publish it quarterly at each subsequent town hall. While it is possible to recreate this information directly from the Ethereum blockchain, we think it is helpful for storage node operators, customers, satellite operators, and others who use the token to have this information presented in a transparent manner for easy consumption.
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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 first quarterly STORJ token balances and flows report. We will update this report for the next town hall in January 2019 and then we expect to publish it quarterly at each subsequent town hall.
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Storj Labs will be adopting a detailed policy for the management of all of our cryptocurrency, including the STORJ token. There are several important parts of this policy, including: Oversight: We have a set of internal and external individuals who are responsible for providing review and oversight. Roles and Responsibilities: We detail the roles and responsibilities of various individuals within Storj, including keyholders, the CEO, the CFO, and our newly appointed Chief Compliance Officer.
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As you may have noticed, we’ve spent most of the last nine months talking about the Storj network. We’ve focused most of our posts around our plans for (and significant progress towards) building a more economical, highly secure, highly performant, and very durable decentralized storage network. We haven’t spent a ton of time talking about the utility token, STORJ. For the most part, we think that decentralization is bigger/more interesting than blockchain, and that blockchain is bigger/more interesting than cryptocurrencies and tokens.
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If you are still holding StorjcoinX (SJCX), it’s time to convert the deprecated* coins to STORJ tokens. On June 29, 2018, Poloniex, the main exchange that supports SJCX, will permanently shut down all withdrawals of SJCX tokens still held by their customers. Poloniex already disabled SJCX trading on October 26, 2017, when they listed our new STORJ token. Starting May 16, we will open the STORJ converter app, located at https://sjcxto.
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