ATLANTA, May 25, 2017 /PRNewswire/ -- Storj Labs, a leading decentralized cloud storage provider, has concluded the Token Sale for its Ethereum-based application token, STORJ (formerly SJCX). The Token Sale was set to end on June 19, 2017, but only one week after launching, Storj Labs has met its goal of $30 million.
Designed to be flexible and modular, Storj Labs uses tokens as an efficient and secure payment system for network users. Participants of the Token Sale will receive STORJ tokens and will be able to exchange them for cloud-based storage space within the Storj ecosystem. All tokens purchased during the Storj Token Sale will be distributed within four weeks from today.
"Storj will only get better as our community of global users grows, and this Token Sale was a really exciting and efficient way to help our ecosystem expand," said John Quinn, co-founder, Storj Labs. "The Storj Labs team is incredibly excited about having the resources and tools we need to further our technology and meet the demands of our users. On the back of this Token Sale closing, we are set to make significant announcements very soon with channel partners which will further demonstrate the growth potential of the Storj ecosystem and will reveal our global go to market strategy."
Storj is the industry's first crowdsourced, end-to-end encrypted cloud storage solution that doesn't operate a data center. The Storj network includes more than 20,000 API users who store data and nearly 19,000 farmers (users who rent out their spare hard drive space and bandwidth), with double digit month-over-month growth. Storj has cemented partnerships with Microsoft Azure and Heroku to further provide developers with a distributed object storage solution that touts effortless encryption, optimal speed and easy implementation.
About Storj Labs Storj Labs provides decentralized cloud storage and gives users more control over their devices and data by providing an open-source cloud platform: Storj. The company aims to become the largest, most secure, cost effective, and high performance cloud storage provider by utilizing spare hard drive space from its community members. For more information on Storj Labs, visit https://storj.io/.