ATLANTA, Nov. 5, 2017 /PRNewswire/ -- Storj Labs, the leader in decentralized cloud storage, today announced Binance, a top Chinese digital asset exchange, has enabled trading for STORJ ERC20 tokens. Binance's listing of STORJ delivers additional liquidity options for token holders, who earn the utility tokens by sharing their storage capacity on Storj Labs' network.
"It's great to see Binance list our utility token on their exchange, especially in light of the growing scrutiny around separating utility tokens from those that fall under securities," said John Quinn, cofounder and chief revenue officer at Storj Labs. "We have a growing user base in China and Japan and this listing will support the continued growth of our presence in the region, providing customers with an additional avenue to purchase STORJ for use on our distributed cloud platform."
Many estimates show just 10 percent of tokens are in use after their respective token sales. Storj Labs' STORJ token listing on many of the major exchanges, including Binance, Poloniex, Bittrex, Liqui, Changelly, QRYPTOS and others, sets it apart from many other post-token sale companies. With a mature technology, a strong leadership team and growing community, Storj is poised to disrupt the cloud storage market.
Storj Labs provides its users with secure, encrypted storage services across its decentralized cloud storage platform, which currently stores more than 5PB of total data. Storj users can trade STORJ tokens as payment for services they purchase on the network through ethereum smart contracts. Storj Labs uses these payments to compensate the Farmers who operate 50,000 nodes across the globe, sharing their spare hard drive space on the Storj network.
- To learn more about Storj Labs, see storj.io or download Storj Share to rent your unused hard drive space.
- To begin trading STORJ on Binance, visit www.binance.com.
- To convert old SJCX tokens to STORJ, Storj Labs' new ERC20 token, visit converter.storj.io/.
Storj Labs provides decentralized cloud storage and gives users more control over their devices and data, providing an open-source cloud platform: Storj. The company aims to become the largest, most innovative, cost effective, and high performance cloud storage provider by utilizing spare hard drive space shared by its community members.
SOURCE Storj Labs