2014-08-25_15-33-00

Storj is a differently built cloud storage solution running on decentralized features, offering two types of storage apps – DriveShare and MetaDisk.

DriveShare is unique as it allows users to rent hard disk space that is not in-use. MetaDisk allows storage of files on Strorj network.

At a recent crowdsale, Storj offered early access to its signature storage products, resulting in over 910 BTC being raised. The official statement at the website confirmed it, noting that,

“The team at Storj is very pleased with the outcome of the crowdsale. It has beaten the best of our expectations and we want to send each one of you a big thank you for the support shown.”

The key aspect of these decentralized cloud services is the official cryptocurrency in use -Storjcoin X, which is driven by CounterParty. Users can use Storjcoin X to pay for cloud-storage space with the Metadisk app, while those wishing to rent the storage space, via the DriveShare app, will receive rentals in Storjcoin X.

This cryptocurrency has a market cap of $1.2 million where the valuation of each coin is $0.01, placing it behind vericoin and primecoin.

Beta-testing first

The post explained that, at the current level of development, DriveShare will be tested by a small-sized group and offer feedback on the performance of the network. Following this phase of testing, a larger-sized group will be allowed to follow-through with beta testing.

The crowdsale participants will have the privilege to use the network before it is released to wider user group.

More importantly, Storjcoin X, which currently ranks 33 in the largest market cap cryptocurrencies, has brought in transparency features through the provision of information on the bitcoins it has published, allowing them to track the how and when aspect of the funding spend.

Image courtesy of Storj

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