The ever-growing platform StorX enables users to store their data safely and securely on the cloud. However, StorX reduces storage prices, increases bandwidth significantly and creates an ecosystem that is built for and powered by the community.
Moreover, the file uploaded on StorX is split and encrypted into many items to autonomous storage nodes. These are operated by individual operators all over the world who contribute their spare disk space to create a decentralized network of storage nodes that is utilized to store data. The hosts of the storage nodes are rewarded in SRX tokens for leasing their disk space.
StorX platform has 2000+ storage nodes. The platform also reached 1 PetaByte (PB) storage capacity within a short span. In addition, the platform has a huge community consisting of more than 110k users, and over 4.5 million in SRX staked. Notably, for staking SRX is necessary to qualify for hosting Storage Nodes on StorX. This is to make sure that bad actors refrain from hosting storage nodes and only those users who are genuinely interested in the StorX Network Project participate in hosting storage nodes.
Notably, SRX is the utility token of XinFin blockchain’s XRC20 token. According to XDC network explorer, there are currently 3,812 token holders. SRX contains a total supply of 500 million SRX tokens.
As of the time of writing, SRX trades at $1.63 with a 24-hour trading volume of $995,209. The price of SRX has increased by 83.68% in the last 24 hours and As per data site Coingecko, in the past 14days, SRX token price jumped by 359.5%. Currently, the top crypto asset trading platform for SRX is trading at the Bitrue exchange.
This is just the beginning for StorX and the total storage capacity on the platform is expected to grow exponentially as more users adopt decentralized storage as a viable choice compared to its centralized counterparts. With the upcoming developments and upgrades, StorX has a huge chance to reach great heights soon.
Furthermore, StorX will enhance the way for a more decentralized internet where privacy and security are in control of the users and not in third parties and monopolistic entities. As per a recent tweet by the founder Handy Barot, the StorX platform is looking for Research scientists to grow StorX Network from further robustness & scalability.
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