Decentralized storage solution provider Storj has come up with a new update making cloud storage affordable for enterprises across Web2 and Web3 firms.
Decentralized storage networks are getting increasingly popular over mainstream centralized ones such as AWS, Google and Microsoft. The primary reason for the shift is low cost of operations and security.
Storj is a decentralized system of distributed object storing, which keeps information encrypted. Storj is based on Bitcoin's blockchain technology and peer-to-peer protocol in order to provide safe and efficient cloud storage. The decentralized storage platform is introducing a new crypto-enabled perpetual storage feature, where dedicated wallet addresses for Storj accounts can unlock perpetual storage using Ethereum smart contract payments with STORJ. The feature will allow network participants to be rewarded for depositing STORJ, the Ethereum-based fungible token used across the Storj network.
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