What is Storj?
Storj is a platform that connects users who need cloud storage with users who have spare disk space. It uses blockchain technology to create a secure, distributed, and peer-to-peer network of storage nodes. Users can upload their files to the network and access them from anywhere, while storage node operators can earn STORJ tokens, the native cryptocurrency of the platform, for providing their disk space and bandwidth.
Storj aims to provide a cheaper, faster, and more private alternative to traditional cloud storage services like AWS, Google Cloud, or Dropbox. It also claims to be more resilient to censorship, downtime, and data breaches, as the files are encrypted, split into pieces, and distributed across multiple nodes around the world.
How does Storj work?
Storj works by using two main components: Tardigrade and Storj Network.
Tardigrade is the user-facing service that allows users to store and retrieve their files from the network. Users can either use the web interface, the command-line tool, or the API to interact with Tardigrade. Users pay a monthly fee based on the amount of storage and bandwidth they use, and they can also choose the level of redundancy and encryption they want for their files.
Storj Network is the underlying infrastructure that powers Tardigrade. It consists of thousands of storage nodes operated by independent individuals or organizations around the world. Storage nodes are responsible for storing, transferring, and verifying the file pieces that they receive from Tardigrade. Storage nodes are rewarded with STORJ tokens for their service, based on the amount and quality of the resources they provide.
How to become a storage node operator?
Becoming a storage node operator is a simple and rewarding way to earn crypto by sharing your unused disk space. All you need is a computer with a minimum of 550 GB of available disk space, a minimum of 2 TB of bandwidth per month, a minimum of 5 Mbps of symmetric bandwidth, and a static IP address or a dynamic DNS service. You also need to download and install the storage node software, which is available for Windows, Linux, and Mac OS.
Once you have set up your storage node, you need to create a wallet address to receive your STORJ tokens. You can use any ERC-20 compatible wallet, such as Metamask, MyEtherWallet, or Ledger. You also need to generate an authorization token, which is a unique code that links your node to your wallet address. You can request an authorization token from the Storj website, and you will receive it by email.
After you have entered your wallet address and your authorization token, your node will start to communicate with the network and receive file pieces to store. You can monitor your node’s performance and earnings using the web dashboard or the command-line interface. You will receive your STORJ tokens every month, if your node meets the minimum requirements for uptime, availability, and audit success.
What are the benefits of running a storage node?
Running a storage node can be a great way to earn passive income by utilizing your idle disk space. According to Storj’s website, you can expect to earn between $7.50 and $15.00 per month per TB of storage space, depending on the network demand and your node’s reputation. You can also earn additional income by providing bandwidth for file transfers, which can range from $1.50 to $20.00 per month per TB of bandwidth.
Besides the financial rewards, running a storage node can also have other benefits, such as:
- Supporting a decentralized and open-source project that aims to improve the internet and the cloud storage industry
- Learning more about blockchain, cryptography, and distributed systems
- Being part of a global and diverse community of storage node operators and developers
- Contributing to the security, reliability, and scalability of the network
Storj is a decentralized cloud storage platform that pays you in crypto for sharing your disk space. It offers a cheaper, faster, and more private alternative to traditional cloud storage services, and it also enables you to support a cutting-edge and innovative project. If you have some extra disk space that you don’t use, you might want to consider becoming a storage node operator and earn some STORJ tokens every month.