Storj is a decentralised cloud storage platform based on open-source hosting user data based on a network of nodes and employs advanced encryption to secure user data. Pronounced as “storage,” the Storj network runs on thousands of anonymous, independent computers using Tardigrade software. The project is aiming to remove the need to trust centralised cloud storage service providers. Peer-to-peer encryption on Storj ensures that each file is encrypted before it is dispersed to the network. Operators of nodes receive compensation for data hosting, the retention of hosted files and confirming their safety, as decentralisation greatly diminishes the risk of planned and coordinated data hacks. The STORJ token is the project’s native token which is provided to individuals or organisations wishing to store their data on the network and which is used to reward node operators.