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Author Topic: [ANN] Storj - Decentralized Storage  (Read 349107 times)
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December 04, 2018, 12:29:36 AM
 #2301

I'm also into Storj only for supporting the idea and the network.
However, I don't want that the be case forever.

I've already red all you just cited. Here are my concerns:

1. IBM is already in the game and decentralizing:
https://twitter.com/IBMcloud/status/1069396576777441280

2. If Storj was testing the farmers so far, farmers have also been testing Storj.
I have a 2 TB drive sitting in a box and I never used it for Storj, because it
is not profitable. The stats for my node are jumping by a weird pattern,
which has nothing to do with actual availability.

3. How is Storj going to convince me and all the potential farmers
 to put effort and resources in ver 3.0, after seeing how unprofital it
is all the way since ver 1.0 and ver 2.0?
The current payout cannot even cover the electricity consumed by the hard drive itself.
It is not fun to be online 24/7 for pennies.

4. How is my node supposed to be high quality, when they say: "don't invest
in hardware, because we cannot guarantee profitability"?

5. How a Storj node will be fast enough to compete with other nodes
and at the same time "anyone can share their hardrive and make money out of it!"?

6. Is there going to be a storage tiering system? Eg: fast, normal, slow
storage? Why dropping slow nodes, when you can use them?

7. How a consumer grade hardware will be used for Enterprise class service?
 Flash storage is the new norm for service providers.

Thanks

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December 04, 2018, 01:22:15 AM
 #2302

I'm also into Storj only for supporting the idea and the network.
However, I don't want that the be case forever.

I've already red all you just cited. Here are my concerns:

1. IBM is already in the game and decentralizing:
https://twitter.com/IBMcloud/status/1069396576777441280

2. If Storj was testing the farmers so far, farmers have also been testing Storj.
I have a 2 TB drive sitting in a box and I never used it for Storj, because it
is not profitable. The stats for my node are jumping by a weird pattern,
which has nothing to do with actual availability.

3. How is Storj going to convince me and all the potential farmers
 to put effort and resources in ver 3.0, after seeing how unprofital it
is all the way since ver 1.0 and ver 2.0?
The current payout cannot even cover the electricity consumed by the hard drive itself.
It is not fun to be online 24/7 for pennies.

4. How is my node supposed to be high quality, when they say: "don't invest
in hardware, because we cannot guarantee profitability"?

5. How a Storj node will be fast enough to compete with other nodes
and at the same time "anyone can share their hardrive and make money out of it!"?

6. Is there going to be a storage tiering system? Eg: fast, normal, slow
storage? Why dropping slow nodes, when you can use them?

7. How a consumer grade hardware will be used for Enterprise class service?
 Flash storage is the new norm for service providers.

Thanks


I'm only replying with what I know from following Storj blogs and community.

1. I think that is positive, the more players in the decentralized cloud space the better, surely each player will have their own benefit and their offering will differ. It will be better for end users as it brings more competition to the space.

2. You are relying on V2 stats, which don't yet reflect the new V3 network has it hasn't launched yet for farmers, to be called Storage Node Operators in V3. We should wait and see how it goes when we are able to try it out. Save your 2TB drive for when you will get given the opportunity to try the new sharing software. In the meantime register for the waitlist, I did and received a survey to fill in with minimum requirements.

3. See .2 above. Also I believe once V3 software is released there will be more stats to go by to allow potential contributors to make a better, more informed judgement on whether to jump in or not.

4. That was the case from Test Group A up to Test Group C including V2, we should see what the minimum requirements are for V3 once they are clear and defined and publicly available. I'm also looking forward to find out more.

5. They made it clear there will be different waves of invites for people who registers for the whitelist and fill in the survey, that will determine who gets invited first and who later based on their setup and performance as well as previous (V2) performance if people provides their node ids. There will be high end node operators and lower end ones.

6. I do think there will be different tiers over time, I didn't mean they will be dropping slower nodes, I meant they will drop lower performing nodes. So uptime will probably be one of the main factors influencing "reputation", together with bandwidth. If you fill in their survey you will see all the questions they ask about your nodes and the requirements. Based on that you will end in the first wave of invites or a following one.

7. Yes I agree, however data centers from major cloud players are sometimes miles if not thousand of miles away from end users, sometimes in a different country altogether, so even if you use SSDs in a data center maybe the distance from the actual data may not make it as fast as if it were in close proximity. In Storj's case, so long as there are plenty storage node operators and the network is widely distributed, you may have better data speeds because you may be getting the files from your neighbour or somewhere local.

I have been supporting Storj since its inception as you can tell I'm a big fan. So I'm confident the team is in the right place, has the right people and partners to achieve their goals. It's just a question of being a little bit patient as early 2019 comes we will all know better.

In the meantime check out their latest roadmap to keep an eye on what's next and when: https://storjlabs.aha.io/published/01ee405b4bd8d14208c5256d70d73a38

If you want to have more precise answers than mine I recommend joining their official community at https://community.storj.io where plenty of support agents and team members will be happy to help.
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December 04, 2018, 02:05:43 AM
 #2303

1) What's is the plan for the STORJ (coin) for the new V3?

2) What's the incentive for holding STORJ gonna be from now on?

3) Is V3 storage gonna be billed in fiat yet?

I couldn't find info about the policy for the cryptotoken while reading the new whitepaper...

What's in for it?

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December 04, 2018, 03:26:59 PM
 #2304

1) What's is the plan for the STORJ (coin) for the new V3?

2) What's the incentive for holding STORJ gonna be from now on?

3) Is V3 storage gonna be billed in fiat yet?

I couldn't find info about the policy for the cryptotoken while reading the new whitepaper...

What's in for it?

As far as I know,

1) Same as it has always been, used to reward Storage Node Operators for sharing their free storage, that means the storage is paid in STORJ by the network itself, anyone else developing on it may accept other type of currencies and crypto however the storage itself is paid in STORJ so there will be more demand for tokens as the storage usage grows. It also offers discounts to end users paying for their own storage in STORJ. I also gathered that the current and future Open Source partners may get some revenue sharing for using the network with their own software and tools. Not sure if it's revenue sharing in STORJ or not, but here's how it reads on their own blogpost:

https://storj.io/blog/2018/10/open-source-revenue-models-in-the-cloud-era/

"The Storj platform can generate a sustainable revenue stream for open source projects every time their code is used on the network. As decentralization continues its rise to support new web and technology infrastructure, these mutually beneficial opportunities shouldn’t be overlooked."

2) Not sure about your incentive, in my case I hold the token for future use on the platform, I also believe the project will do well in the future seen all the new partners and their own projects. If all goes well more storage usage means more demand for the token to pay for the actual storage as the only ones offering storage are Node Operators (farmers).

3) So far they have accepted ETH, BTC and STORJ not sure what the plans are for FIAT but I believe they used Stripe in the past. As I mentioned above whatever they accept from customers, developers and corporations will have to be converted to STORJ to pay for the storage on the network side.

Hope this helps. If you join their community you may get more precise answers.
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December 05, 2018, 06:52:07 PM
 #2305

The latest blog from Storj is live, check it out.

An Overview of Tokens Uses, Flows and Policies at Storj Labs

"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."

https://storj.io/blog/2018/12/an-overview-of-tokens-uses-flows-and-policies-at-storj-labs/
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December 06, 2018, 07:17:11 PM
 #2306

Interesting article by Moguldom discussing Storj.

How Storj Founder Shawn Wilkinson Is Helping Decentralize The Web

https://moguldom.com/165457/how-storj-founder-shawn-wilkinson-is-helping-decentralize-the-web/


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December 07, 2018, 03:27:33 PM
 #2307

And as expected here are more details on STORJ token balances  Smiley

For the ones of you interested. This is a good show of transparency. 


Introducing the STORJ Token Balances and Flows Report

https://storj.io/blog/2018/12/introducing-the-storj-token-balances-and-flows-report/


STORJ Token Balances and Flows Report: Nov. 30, 2018

https://storj.io/blog/2018/12/storj-token-balances-and-flows-report-nov.-30-2018/


A Look at Token Treasury Controls, Balances and Cryptographic Key Management

https://storj.io/blog/2018/12/a-look-at-token-treasury-controls-balances-and-cryptographic-key-management/

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December 10, 2018, 07:32:35 PM
 #2308

Some more details on locking and unlocking STORJ tokens have been released by the team.

Using Timelocked Tokens to Support Long-term Sustainability

https://storj.io/blog/2018/12/using-timelocked-tokens-to-support-long-term-sustainability/
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December 11, 2018, 09:17:06 PM
 #2309

Another great read by Storj.

Taking Payments to The Next Level with Raiden

"Storj has been working with the team at the Raiden Network to explore using their platform for token payments across our network. So far, we’ve been quite impressed by their scalable payment solution in our tests of 1,000 to 100,000 payments. This article from Shawn Wilkinson looks at what we’ve accomplished over the past few weeks."

https://medium.com/@storjproject/taking-payments-to-the-next-level-with-raiden-e36fbc99f64f


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December 12, 2018, 02:34:57 AM
 #2310

Another great read by Storj.

Taking Payments to The Next Level with Raiden

"Storj has been working with the team at the Raiden Network to explore using their platform for token payments across our network. So far, we’ve been quite impressed by their scalable payment solution in our tests of 1,000 to 100,000 payments. This article from Shawn Wilkinson looks at what we’ve accomplished over the past few weeks."

https://medium.com/@storjproject/taking-payments-to-the-next-level-with-raiden-e36fbc99f64f


Raiden Network will help to improve the payments for STORJ.
The article presents that there are so many good achivements have been reached recent weeks due to intensive good works of both two teams.

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December 12, 2018, 03:09:07 AM
 #2311

http://i.imgur.com/fQCHBnL.png

Key Features
Storj is a software project seeking to develop a next-generation cloud storage solution that improves upon existing cloud storage providers in four key areas of the service provided.  

Less expensive for the same industry standard redundancy, uptime, and reliability;
Preferably client-side encryption and hashing automatically enforced prior to upload so all data on the Storj network is encrypted and anonymized;
Open source code released under the MIT license;
Decentralized, autonomous, and implements multiple blockchains thereby making it resistant to interruptions of service and security risks.

A key project development goal is for Storj to include a blockchain-based dual purpose token scheme that serves as:

1. An incentive payment mechanism within the Storj network between consumers and    providers of storage space and bandwidth
2. An information storage mechanism to record the hash and location of files stored in the Storj network.

Storj won first place in the Texas Bitcoin Conference 2014 hackathon contest, by unanimous decision.  The prize is a guaranteed $250,000 donation from the backers at BitAngels for their initial round of “kickstarter-style” crowdfunding soon to be announced.  Storj team members Shawn Wilkinson and James Lowry made the final scheduled presentation of the contest, which included a working proof of concept software demo.  The founding devs are now getting the alpha software ready for general testing release while putting the finishing touches on the whitepaper and crowdfunding model.

Storj is a proposed decentralized storage system that seeks to disrupt the cloud storage industry by dramatically lowering costs to cloud storage users.  It would do this by paying incentives to storage providers in the form of a "blockchain-based dual purpose token" that would also store information about file integrity and storage locations.  The Storj network would autonomously issue, collect, and distribute these tokens so that users could pay for storage and be paid for providing storage.  All data would be encrypted, preferably client-side, before being uploaded to the network. We believe that Storj should simply be a mechanism for users to store their data, and the end user should have control over their data and privacy.

Web Nodes
At the Texas Bitcoin Conference 2014 we debuted a proof of concept web node for Storj. We have since been refining that software. You may upload your files to these web nodes and after about 10 minutes your files become accessible network wide. This requires no central server. Any web node connects to the prototype blockchain and may upload and download files at very little cost. This software will be made available to early backers and supporters.

New Cryptocurrency
Most cryptocurrencies use their blockchain as a ledger for coin balances. We would also like to use the blockchain to store information about file integrity and storage locations using structured metadata. To this end we will be releasing details about a new cryptocurrency that allows us to accomplish this and get our network running immediately with the help of our web nodes. We will be including this new cryptocurrency as part of our crowdfunding model.

Whitepapers
Many of you are hungry for the technical details. We have received great technical and conceptual feedback from Maidsafe and BitAngels. We are in the process of rewriting out initial whitepaper and finalizing crowdfunding details and timeline.

Special Thanks
BitAngels, esp. David Johnston and Jeremy Kandah - For your continuing input and support.
Jeff Garzik (jgarzik) - For technical and concept help.
Gregory Maxwell (gmaxwell) - For the initial seed concept and discussion thread.
Maidsafe, esp. David Irvine and Nick Lambert - Hackathon input, mentoring and continuing conceptual synergy.
Mastercoin Foundation - hackathon support, input and mentoring.

Dear Storj Team
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December 12, 2018, 09:26:08 PM
 #2312

The latest Storj blog delves into how data auditing works on the network. Check it out.

"Today we’re going to learn about the Storj V3 auditing and repair systems! Auditing, oh man, I’m already falling asleep, right? Well please don’t! Yes it’s true that auditing does the sort of drudge work of the storage system, in that it’s a continuously running process, randomly trying to download little bytes of data, endlessly, forever. However, the repair system within our new V3 network steps in as auditing’s cooler, more wizardy sibling who saves the day by zapping jacked up data with its Reed-Solomon regeneration wand.

Speaking more specifically, the auditing system within our decentralized cloud storage network routinely verifies that storage nodes are indeed storing the data that they agreed to store. The network needs to run regular audits because if storage nodes go offline, or if data is deleted or corrupted, it is critical to both detect that failure and repair the data."


Decentralized Auditing and Repair! The Low-key Life of Data Resurrection

https://storj.io/blog/2018/12/decentralized-auditing-and-repair-the-low-key-life-of-data-resurrection/


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December 12, 2018, 09:44:09 PM
 #2313

Hello.
I had tried sharing my HD about a year ago, but after a month of 500GB sharing I hadn't received any rewards so I just quit.
Since I see you're actively working on Storj after a long time and your idea was a good one from the start, I'd like to get involved again.

Is there any kind of a calculator available to check my possible income from storage sharing?

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December 12, 2018, 09:51:16 PM
 #2314

It's interesting how in blockchain have auditnya themselves, from the beginning of the Storj is a competent project they even very transparent, can be seen by the way they report the Token and balance report. Storj will be a great company, good luck.

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Today at 12:58:01 AM
 #2315

Hello.
I had tried sharing my HD about a year ago, but after a month of 500GB sharing I hadn't received any rewards so I just quit.
Since I see you're actively working on Storj after a long time and your idea was a good one from the start, I'd like to get involved again.

Is there any kind of a calculator available to check my possible income from storage sharing?

There isn't a calculator right now as the team is working on a major upgrade (Storj V3) and planning to release the software for sharing storage in early 2019.
The best thing you can do right now is to register your interest to become a storage node operator (used to be called farmer) at this link:

https://storj.io/sign-up-farmer

Once registered you will receive a survey to fill in with details of your setup and that will allow you to receive an invite for when the software goes live.
Invites will be sent in different batches, depending on your setup you could be in the first batch of invites or in a following one.
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Today at 07:46:43 AM
 #2316

Hello.
I had tried sharing my HD about a year ago, but after a month of 500GB sharing I hadn't received any rewards so I just quit.
Since I see you're actively working on Storj after a long time and your idea was a good one from the start, I'd like to get involved again.

Is there any kind of a calculator available to check my possible income from storage sharing?

There isn't a calculator right now as the team is working on a major upgrade (Storj V3) and planning to release the software for sharing storage in early 2019.
The best thing you can do right now is to register your interest to become a storage node operator (used to be called farmer) at this link:

https://storj.io/sign-up-farmer

Once registered you will receive a survey to fill in with details of your setup and that will allow you to receive an invite for when the software goes live.
Invites will be sent in different batches, depending on your setup you could be in the first batch of invites or in a following one.

I checked the form and it seems to me they only require servers with 100% uptime? The form's lowest bandwidth options seem kinda large.
It's not about using your free 500GB of your old drive anymore huh? Not to mention that if you want to use it for half of the day then it's pointless.

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Today at 04:30:14 PM
 #2317

Hello.
I had tried sharing my HD about a year ago, but after a month of 500GB sharing I hadn't received any rewards so I just quit.
Since I see you're actively working on Storj after a long time and your idea was a good one from the start, I'd like to get involved again.

Is there any kind of a calculator available to check my possible income from storage sharing?

There isn't a calculator right now as the team is working on a major upgrade (Storj V3) and planning to release the software for sharing storage in early 2019.
The best thing you can do right now is to register your interest to become a storage node operator (used to be called farmer) at this link:

https://storj.io/sign-up-farmer

Once registered you will receive a survey to fill in with details of your setup and that will allow you to receive an invite for when the software goes live.
Invites will be sent in different batches, depending on your setup you could be in the first batch of invites or in a following one.

I checked the form and it seems to me they only require servers with 100% uptime? The form's lowest bandwidth options seem kinda large.
It's not about using your free 500GB of your old drive anymore huh? Not to mention that if you want to use it for half of the day then it's pointless.

Exactly, things are changing with V3 to improve reliability. However even with V2 various factors were influencing payouts including bandwidth and uptime so it is not something new. To be able to compete with mainstream storage providers storage node operators need to also be reliable and in my opinion that is for the best. You shouldn't think that just because someone has a spare HD they can put it towards Storj and be able to make a profit. But don't let that discourage you, fill in the form as best as you can and see if you get an invite when the time comes.
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