Storj isn't a means of payment or a store of value, it is a token representing storage and a means of interaction on the network with the company in a decentralized way so as the farmers get paid equally and the customers pay equally for the amount of data stored.
So 1 storj will represent a certain amount of data that can be stored on the network. If I would be to own 1% of all storj, would I be able to store data up to 1% of the total capacity of whole Storj network?
The amount is denoted in USD so the markets would determine the amount of Storj which represents this.
The other main factors which would lead to the price :
amount of storage provided for use
The cost to store which decreases with advancements in technology
The network cost which will fall as the network grows
The security of the network, which increase with growth and further distribution
As far as I know there are no limitations on the network size so long as the services provided to assist operation and payment are at a scale to meet demand at the time.
Hi @igster,
Storj isn't a means of payment or a store of value, it is a token representing storage and a means of interaction on the network with the company in a decentralized way so as the farmers get paid equally and the customers pay equally for the amount of data stored.
So 1 storj will represent a certain amount of data that can be stored on the network. If I would be to own 1% of all storj, would I be able to store data up to 1% of the total capacity of whole Storj network?
The amount is denoted in USD so the markets would determine the amount of Storj which represents this.
The other main factors which would lead to the price :
As far as I know there are no limitations on the network size so long as the services provided to assist operation and payment are at a scale to meet demand at the time.
Thank you