Storj brings low-cost decentralized cloud storage to the enterprise

guest · Mar 21, 2020

Storj brings low-cost decentralized cloud storage to the enterprise
March 19, 2020
https://techcrunch.com/2020/03/19/s...ecentralized-cloud-storage-to-the-enterprise/

Storj, a startup that developed a low-cost, decentralized cloud storage solution, announced a new version today called Tardigrade Decentralized Cloud Storage Service.

The new service comes with an enterprise service level agreement (SLA) that promises 99.9999999% file durability and over 99.95 percent availability, which it claims is on par with Amazon S3.
The company has come up with an unusual system to store files safely, taking advantage of excess storage capacity around the world.

[...] they have come up with a way of distributing the data across drives on their network so that no single file would ever be fully exposed.

“What we do in order to make this work is, first, before any data is uploaded, our customers encrypt the data, and they hold the keys so nobody else can decrypt the data. And then every part of a file is split into 80 pieces, of which any 30 can be used to reconstitute it. And each of those 80 pieces goes to a different drive on the network,” Golub explained.
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That means even if a hacker were able to somehow get at one encrypted piece of the puzzle, he or she would need 29 others, and the encryption keys, to put the file back together again.

The ability to buy excess capacity allows Storj to offer storage at much lower prices than typical cloud storage. Golub says his company’s list prices are one-half to one-third cheaper than Amazon S3 storage and it’s S3-compatible.
The company launched in 2014 and has 20,000 users on 100,000 distributed nodes today, but this is the first time it has launched an enterprise version of the cloud storage solution.
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Storj: General Availability for Tardigrade is Here

The decentralized model for internet communications has delivered multiple orders of magnitude of improvements in reliability, speed, and price. No one questions the appropriateness of leveraging TCP/IP for enterprise applications.
However, leveraging decentralization for enterprise grade compute and storage has never been possible–at least until today. Being first is never easy, but it’s always notable. Today, we’re pleased to celebrate the launch of the world’s first SLA-backed decentralized cloud storage service.

Perhaps most importantly, our end-to-end encryption and zero-knowledge architecture enabled us to deliver a security model that’s significantly more resilient and prevents anyone (including us) from mining data or compromising user privacy.
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Storj brings low-cost decentralized cloud storage to the enterprise

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