"Storj: A Peer-to-Peer Cloud Storage Network" White Paper Released

Storj has released its 18-page white paper, co-authored by Tome Boshevski, Josh Brandoff and Ethereum co-founder Vitalik Buterin.

Storj seeks to decentralize cloud storage by creating an open market for participants to sell their available disk space. In August, the startup wrapped up its crowdfunding round, raising 910 BTC (9%) of the 9800 BTC goal.

The paper describes how the protocol incentivizes network participants with the Storjcoin X cryptocurrency and allows for the successful storage, transfer and encryption of data without a third-party provider. Even in the absence of a peer-to-peer (p2p) network, the technology can be used to ensure third-party providers don't have direct access to data stored in their facilities.

The technology is also touted for providing an alternative to centralized networks that are vulnerable to outage and failure, as well as having potential for being more cost effective.

Storj addresses Sybil attacks, which forge identities in reputation-based p2p networks, by providing unique encryption for each "shard" or encrypted file portion.

Currently, it is not feasible to use the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term for the storage of metadata. Instead, a technology called Florincoin (an altcoin that enables transaction comments) would be used until Bitcoin blockchain technology is further developed, at which point other intermediaries can be used along with Ethereum to create enforceable contracts.