[2016-06-25] Storj Conducts Final Decentralized Cloud Storage Testing Phase

[jdebunt]

Storj achieves its decentralization and distribution by using blockchain technology. A distributed ledger connecting people all over the world by installing a single piece of software. Moreover, the financial rewards, called SJCX, are issued over the blockchain as well. Participants can use this token to buy cloud space for themselves, or convert it to other currencies such as Bitcoin.

http://fintechist.com/storj-decentralized-cloud-storage/

[Carlton Banks]

It was such a great idea (that wasn't even storJ's original idea), but they totally screwed it up in the most fundamental way: turning it into it's own alt-coin. Having a proprietary coin for software (that is not itself a coin) is just a big no. I can see why the developers did it, but they were thinking too short term with decisions like that. A BTC driven version is what's will be really /usefulsuccessful.

[jdebunt]

It was such a great idea (that wasn't even storJ's original idea), but they totally screwed it up in the most fundamental way: turning it into it's own alt-coin. Having a proprietary coin for software (that is not itself a coin) is just a big no. I can see why the developers did it, but they were thinking too short term with decisions like that. A BTC driven version is what's will be really /usefulsuccessful.

I'm on the same fence, as I'm not sure the issuance of SJCX was really needed to get this off the ground.

We'll see how it affects the viability of this solution once it goes live, i guess.