is a peer to peer cloud storage network that implements client-side
encryption and allow users to transfer and share data without reliance
on a third-party storage provider. Established in 2014, Storj disrupted
existing centralized cloud storage system. The removal of central
controls helped solve most traditional data failures and outages, as
well as significantly increase security, privacy, and data control. It
is an open source storage platform where data is not centralized,
monitored, or have any downtime.
file storage system like Storj have the potential to eliminate high
markup costs and market inefficiencies and provide a much higher level
of privacy, reliability and quality of service than we see
today.” — Vitalik Buterin
Storj is one of the few organizations which started raising funds with the crowd-sale. Storj has an existing token SJCX with a working product and protocol, which allows users to purchase storage and bandwidth, and get paid for renting out hard drives and bandwidth. Recently, few changes in the organization took place and they decided to raise fund for restructuring with token sale. STORJ is the new token and its sale began on May 19, 2017, 11:00 AM EDT (3:00 PM UTC) and is planned to end on June 19, 2017, 11:00 AM EDT, or when the cap is reached. STORJ raised more than 2/3rd of the planned fund in less than 8 hrs.
EtherWorld appreciates James Prestwich spending time and sharing his insights about the project, migration to Ethereum
platform, token sale and the wonderful team of STORJ. James is one of
the founders of STORJ. We’re glad to share excerpts of our conversation.
E: Hi James, can you please tell us a little bit about yourself and how you got into STORJ and blockchain technology?
J: My name
is James Prestwich. I am the COO and CFO for STORJ, I’ve been doing that
for a few years. I joined STORJ in mid 2014 to stature the first token.
I work on operations, finance, book keeping, accounting, HR, technical
architecture as well. I wrote the current version of white paper and in
free time, I do write the code. My background is in software development
and small business management. I came from small entrepreneur ventures
during after college. One was just me and a friend managing a team of
about ten people. I got into STORJ because I was interested in the idea
and the technology, I thought it has a lot of potential and it can
really change things. My role is to make sure keep things moving. Making
sure that we treat this as a business and then focus on product and pay
attention to our users.
stumbled on Bitcoin back in 2012, and followed it out of technical
curiosity. It took me a while to really wrack my head around things like
proof of work, the way the blockchain works. It really took me a couple
of years to crack this what’s really going on? It’s not just the money
sending from person to person, it’s machine knowable of payment system.
It’s the first time in history when you can have machine exchanging
values without human interaction. I am interested in blockchain but
don’t know the entire machine economy.
E: Please share foundation story of STORJ and the overview of the project.
Back in mid 2014, it was really just me, Shawn Wilkinson and Tome
Boshevski were the cofounders. We were working on an open source
project. Shawn was writing code in his spare time and doing assigned
work of development. We were still in early stages and then came our
partner John Quinn who teamed up faster. We came across with all of our
potential and saw something interesting and kept working on it. We kept
refining it, built more understanding until we made it better and
better. Just like I said, when you show up and work, the only reward you
get is more and more work. The four of us came together because we had a
mix of skill and perspective that worked and started pushing things
forward faster. Instead of starting out an open source project, we just
started pushing it towards figuring it how not just build the technology
but take it people to use it and make it significantly impact.
Starting with a small group, STORJ has a big team now that has been
together for 3 years. Please share more about the team and key tips to
keep a team motivated towards the same vision?
Yes, the open source project started 3 years and a month or two ago. We
incorporated and started raising money in late 2015, a year and half
after that. Since then we started with the four of us and a few
community members too. We pooled our testers from directly our community
which has been great for us. We are growing fast and we are really
excited about it and we are looking forward to keep growing fast.
really a good goal to keep 14 people working for same vision. The real
thing that you’ve to do is to communicate constantly, that’s one of my
role here is. More like in traditionally managed company, you might call
it product management or something like that. Talking to everybody,
determining what would act best for the company and best for the users,
writing it down and making sure that everyone is on the same page. It
really is lot more difficult than I thought it would be, but it’s very
About platform migration, why team choose Ethereum? What do you think
are the main differences between the previous platform and Ethereum? Any
interesting story to share?
J: We were previously using the platform called Counterparty,
which was the layer on top of the Bitcoin blockchain. We would put so
many data on the Bitcoin blockchain and Counterparty knows a good watch
for them and interpret as exchanges of token. When we made Counterparty
tokens 3 years ago, it was a brand-new platform, had a lot of technical
potential and Ethereum was just an idea, then it wasn’t anywhere close
to existing. So, we wanted to use the token of the ground and that was
the best available tool. Unfortunately, Counterparty failed to grow the
way we hoped it would grow like another platform like Ethereum has. So,
three years down the road you find yourself locked into a platform that
doesn’t work very well. With Counterparty, you always pay a higher fee
on a Bitcoin transaction because there is small data in the transaction.
It doesn’t support a lot of new Bitcoin features like the good
multisig, Counterparty still uses the older style, which actually is
completely broken by a Bitcoin core update last year. We were spending
hours to figure out why we couldn’t spend our not tokens on our multisig
account, Counterparty multisig no longer worked. We came to a
conclusion that we need to do something about it. Because we had tokens
and this great community, that we were close to it; we needed unique
ability to perform a migration like this. We settled on Ethereum because
it was a kind of best developed platform in this system. ERC 20 token
standard is gaining lot of attention with different projects. It means
there are a lot of good wallet out there and more technical projects are
underway like micro-payment channel.
at its core is a better platform for development than Bitcoin. When you
are building a platform, you’ve to keep in mind its complexity; you
want people to build on top of this so, you need to have a simple
interface. But, since it needs to do something valuable, so platform in
itself must be very complex otherwise it wouldn’t be worth in putting
it. So, you want a complex platform in simple access to it. Ethereum
provides a very complex platform, a complete blockchain virtual
machine, but it feels just like developing in JS, an another normal
programing language. Whereas, Bitcoin is a complex platform,
but its scripting language is reverse polish notation (RPN) stack
machine, it’s really a mess. In order to develop anything on top of
Bitcoin, you need to spend 80 % of your time just fighting that
interface. Lightning network takes long to materialize, makes developing
on top of Bitcoin incredibly difficult. So, we figured that we could
take this opportunity to move over to what we see a better platform for
developers and customers. Hopefully, we will be able to contribute to a
bigger ecosystem. Other benefits like less block time and less
transaction charge are significant right now but could go away
eventually if Ethereum become very popular. Ethereum has better wrap to
addressing those things in the form of a channel but Bitcoin doesn’t.
So, it’s not that the immediate picture out here but better long-term promise with Ethereum.
Blockchain technology is a little complicated for normal person, is it
possible to use STORJ for end users having very less understanding of
the underlying technology?
With this kind of platform complexity, we are trying to find out simple
interfaces. We can abstract away this whole distributed network into
crypto development interphase, and then developers can abstract that
away as a product or the application. So, the end user might be using STORJ and getting the privacy, security and cost benefits of it without ever knowing the platform.
The developer can use storage and get the benefits of it without
necessarily knowing that they are using distributed network on machine
payable contracts. It’s all about taking something and providing a
simple interface to it, making it work so well that there is no good
reason not to do it. We are trying to upgrade the base level of privacy,
security and speed for data storage on the internet.
E: What do you have to say about the token sale? Do you see any difference in previous and preset time?
Yes, definitely. We were one of the first projects to do something like
this about 3 years ago. At the time, it was real difficult to explain
people about what is going on. What is token? It is an altcoin, sort of,
it doesn’t have its blockchain, it sits on top of another blockchain.
This time around people are already comfortable with this sort of
things. The token market right now is really popular. It’s drawing a lot
of attention, a lot of companies doing token sales, showing security
issuance on the blockchain. It’s really going to be lot easier to get
people both individual and company to wrack their head around what we
are doing. I get a lot of education piece in the last two years.
are very optimistic this time. We already have received 2/3rd of it.
When you compare us with other project’s token sale or ICO’s right now,
we are in a very different state than them. We have years of experience
in our field, a working product and an amazing chain of engineers,
thousands line of codes, users, developers and farmers. A lot of
projects are doing token sale on nothing but an idea. So, we wanted to
differentiate our sale and set the capital a little higher because we
need more liquidity as we have good things to spend it on. We set the
time limit of 30 days, we’ve kind of expected that sale within that time
period. I am just trying to relax for a little bit after getting this
whole thing out of the door.
E: Would you like to share any timeline / roadmap about project STORJ?
Not in terms of specific date. I can talk about what we are planning
and working on and why. Right now, our lead engineer is finishing up
next version of our core library. It’s a major version, so that’s going
to be a big roll out in next few months. We go through multiple phases
of testing and then start rolling it out. We’ve set of people dedicated
to reliability and performance so making sure that files just don’t
disappear, which is something we are really good at. There a lot of
backend and network changes we’re working on. We want to work on taking
some of the more centralized aspects of our service and breaking it up
into decentralized and segregated system. The main focus right now is reliability, we’re going to keep pushing up that to peruse in future.
E: Any plans of working on SWARM protocol?
I talk to team regularly on gitter. It would be really nice to be
working together. Given how early SWARM could be, it’s hard to say, how
that would be. But this is definitely something that we are interested
Thank you, James, for sharing details about you and STORJ. EtherWorld wishes you and the team our best.
is for ETC users interested in using the MetaMask browser extension and
some Ethereum dApps enabled by MetaMask with the Ethereum Classic
blockchain. It is available for Google Chrome and Mozilla Firefox.
MetaMask is a bridge that allows you to visit the distributed web of
tomorrow in your browser today. It allows you to run Ethereum dApps
right in your browser without running a full Ethereum node.” — Metamask.io
We're pleased to announce the v184.108.40.206 release of the Cloak wallet.
This update includes new and updated translation sets for French and Russian as well as bugfixes and a host of security improvements to the Enigma and CloakShield communication layer. We'd like to take this opportunity to thank everyone who's helped out with this release, whether that be in terms of development, translation, testing or just good old fashioned moral support - thank you all!
Here's the changelog for this release:
------------------- v220.127.116.11 ------------------- * BugFix: Fix active CloakShield peer list pruning. * NewFeature: Add French translations. * Enhancement: Update Russian translations. * Enhancement: Improve node-banning mechanisms for Enigma and CloakShield. * Enhancement: Add signatures and verify sender and data integrity for CloakShield onion packets. * Enhancement: Add signatures and verify sender and data integrity for Enigma announcements. * Enhancement: Enigma peers broadcast a message to announce they are going offline. * Enhancement: Add 'View TX on Block Explorer' to context menu in transaction view [QT]. * Enhancement: Give the QT wallet an additional lick of red paint [QT]. * Enhancement: Improve peer-node discovery at wallet startup. * Enhancement: Trim input text for RPC command 'importprivkey'. * Misc: Bump Enigma protocol version. * Misc: Set default Cloakers to 5.
week into our crowdsale we’re closing in on the $2 million mark. We
also wanted to give investors more details about how the swap for
company shares will work.
got off to a great start and, at the time of writing, almost 1,300
investors have backed our project to the tune of over $1.8 million in
total. We’re over halfway now, and are keen to keep up momentum to reach
our target. If you’ve wondered about investing but haven’t yet taken
the final step, please do get in touch via our Slack and we’ll be happy to answer any questions you have.
also worth noting that, with BTC and many alts at historic highs,
there’s the opportunity to get into a project that will not only
preserve value by design, but that also offers a solid ROI. Your funds
are accounted at dollar-equivalent prices at the time of deposit, so
investing in ZrCoin is a good way to book some crypto profits and hedge
of the questions we’ve been asked a number of times is how the future
swap of ZrCoin tokens for company shares will operate. We’d like to say a
little more about this now.
is, of course, no onus on investors to swap their ZrCoin for shares. As
a blockchain token, ZrCoin can be held, transferred and traded freely
on Waves. We imagine that many investors from the crypto world will do
just that, opting to sell their tokens during one of the coming buybacks
that will ensure they see ROI. At this point, having sold their tokens,
they will have exited their investment (at profit) and can use the
funds for whatever they want.
we wanted to offer our investors more than this. We appreciate the
opportunity you are giving us to launch a totally new and
environmentally-friendly manufacturing process. So, for those crowdsale
investors who are interested and who are willing to go through the
necessary identity verification processes, we are making available
shares in our company. 49% of the company will be available to swap for
ZrCoins, via the Cyprus Foundation that is dealing with our finances.
The percentage of our company that is ultimately owned by our crowdsale
investors will depend on how many decide to redeem their ZrCoin for
shares, rather than sell them in the buybacks.
due course, when we know more about our funding, we’ll publish exact
figures. But we hope you will see that this offers an attractive
opportunity to ‘roll over’ your investment in ZrCoin, giving you the
chance to own a piece of a unique revenue-generating company that will,
we believe, be at the forefront of a green manufacturing revolution.
Thank you once again for your support!
For more information or to register for the crowdsale, please visit www.ZrCoin.io.
HashCoins and Emercoin launched passwordless authorization system Authorizer.io
was officially launched on May 18. This is an open non-commercial
project intended to increase the security of user accounts, mitigate the
risks of password interception and demonstrate the advantages of open
Authorizer.io was created through the efforts of three teams: HashCoins, Aspanta and Emercoin.
main goal of the project is to draw the attention of users to
password-free authorization technologies and to the advantages of
blockchain certificates for daily use.
Authorizer.io enables website owners to integrate the authorization system quickly and easily through Emerсoin SSL certificates.
is based on the oauth2 open authorization protocol and Emercoin
blockchain technology. Blockchain is used to store the encrypted
information on user EmerSSL certificates and virtual cards.
The advantages of Authorizer.io:
1. Security. No password, and thus no risk of it being captured.
2. Comfort. It is not necessary to fill out any forms, as authorization is made with one click.
3. Anonymity. Only you own your data, which means that it is impossible to steal or falsify it.
4. Freedom. The service is absolutely free for website users and owners.
5. Usability. Daily use of certificates significantly saves you time.
Flexibility. You have the possibility to use SSL certificates in any
browser and on any device, including on smartphones and tablets.
7. The human factor. Authorizer is intended only for people. Bots cannot use it, and spam is completely excluded.
8. Innovation. There is no place for passwords in the 21st century.