Bitcoin Wiki defines Storj as a decentralised cloud storage solution created as an alternative to services like Dropbox. Storj also has some similarities with the torrent. The data is divided into blocks, encrypted, and distributed among participants of the project given the name – “farmers”.

The goal of Storj is to make cloud file storage faster, cheaper, and private. It also guarantees you’re the only one who can access your files – according to Coincentral. On a long-term basis, Storj is highly promising. With the ever-increasing data in our modern world where storage of billions of data would be a major concern in the future. Storj is built on the Ethereum blockchain.