Highlights
- Storj tackles cloud defense issues in its latest webinar.
- The discussion was part of its Cybersecurity Awareness month’s contribution.
About Storj
Pronounced “storage,” Storj is a decentralized open-source cloud storage system that uses a network of nodes to store user data. The software also uses advanced encryption to protect hosted data.
Storj was initially presented to the public as a concept in a white paper released in December 2014. It was supposed to be a peer-to-peer encrypted cloud storage platform that was decentralized.
A revised white paper was released two years later, introducing a decentralized network with plans to link users who require cloud storage space with those who had hard drive space to sell. The platform went live in late 2018.
The network is open to anybody with enough free hard drive space and reliable internet access to join. They form a network unit known as a node. Storj tokens are used to reward space suppliers.
Storj and decentralized storage defense
Storj, in its fourth Webinar series held today, 19th October, covered the issue of decentralized storage defense. The webinar’s main focus was how a shift in security focus across software development lifecycles affects development teams and cloud storage solutions they use. Speaking on the topic were John Gleeson, Storj’s COO, and Ingrum Jefferson, a Cybersecurity Awareness Specialist. https://twitter.com/storj/status/1450495362762952712
The speakers highlighted the various challenges development teams face, including phishing, insider threats and negligence, targeted ransomware attacks, hacking and data breaches, leaky buckets, and cloud storage.
They also discussed several ways these developers can improve the security of their cloud storage layer and help champion a security-first development cycle by leveraging the benefits of the decentralized cloud.
Storj’s defense awareness webinar is part of its contribution towards Cybersecurity Awareness month. The decentralized cloud storage platform is also set to host its town hall meeting on youtube tomorrow to discuss its latest achievements and future goals.
Future predictions for Storj
Storj’s current price is $1.25, with a 24-hour trading volume of $18,614,207. As of writing, CoinMarketCap Storj ranks #147, with a live market cap of $437,375,952. The circulating supply is 351,006,341 STORJ coins, and the maximum amount is not known.
The Ethereum blockchain was used to create the first 500 million $Storj tokens. Following a token sale conducted by Storj Labs, 75 million of these tokens were destroyed. The total number of tokens in circulation is now just shy of 425 million.
In 2017, the firm set aside 245 million tokens as a reserve in anticipation of the upcoming token sale. The token sale itself resulted in the distribution of 70 million tokens into circulation.
A metadata import/export mechanism will be built soon so that users may back up their information and move it across Satellites on their own. They expect these exports to shrink dramatically in the future. Additionally, if a problem arises with the Byzantine-fault easy method, they aim to be free of Satellite control over the information. Therefore, they’re looking to architect the satellite of the system completely soon.
