Storj is a cloud storage platform that is open-source. It works by storing user data on a decentralized network of nodes. Advanced encryption is also used to protect data housed on the site.
Storj was originally offered to the world as a concept in a white paper released in December 2014. It was supposed to be a decentralized, encrypted, peer-to-peer cloud storage platform. Storj wants to "create a cloud storage infrastructure" on the Ethereum blockchain, complete with end-to-end encryption and a variety of service providers.
STORJ tokens are ERC-20 tokens that were first issued in the amount of 500 million $Storj tokens and used to pay for storage on the Storj network.
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