PRAGUE, Oct. 30, 2018 /PRNewswire/ -- (Ethereum Devcon 4 Conference) -- Storj Labs, the leader in decentralized cloud storage, today announced its new V3 platform has entered its public alpha for developers and companies interested in testing the new platform on their local hardware. The company also released its latest white paper, which outlines the architecture and key components behind the upcoming V3 decentralized cloud storage network, which is designed based on learnings from the company's previous platform and the latest research on decentralized and distributed systems.
The public alpha will enable companies and developers to begin testing the new Storj platform, and prepare to build applications that run on decentralized cloud storage. Developers can learn more about the public alpha by visiting Storj's GitHub, downloading code for the V3 platform, and running the new V3 test network on their personal computers. The next stage of the alpha, which is slated for the first part of next year, will enable storage node operators to begin sharing their excess storage capacity with the upcoming network.
"The release of our white paper and launch of the V3 alpha for developers is a major milestone on the road to releasing the new network and the culmination of a massive amount of work from our team. We are very pleased with the results we've seen so far from partners who were given early access to the platform," said JT Olio, Storj Labs director of engineering. "We look forward to further feedback from community members and other developers, who test the Storj platform and build applications that leverage the benefits of decentralized cloud storage. I also want to thank the people that reviewed and contributed to the whitepaper directly, as well as the projects, research and thought leaders cited in the white paper who have influenced and informed our design."
The new Storj network is designed to scale into the exabyte range and beyond. The platform has prioritized simplicity and horizontal scaling to ensure users can easily migrate their existing applications to the new platform. With built-in Amazon S3 compatibility, the new network can be integrated into applications that currently use cloud storage in a matter of minutes. In most cases, migrations merely require changing a few lines of code. This approach will drive real-world adoption of decentralized cloud storage by lowering the barrier to integrate it into existing platforms. The launch of the public alpha means anyone can now test the platform and begin building and experimenting with decentralized storage.
"Having solutions that are compatible and easily integrate as a Plesk Extension is key for our team and the customers," said Lukas Hertig, SVP of Business Development and Strategic Alliances at Plesk. "Our software runs on more than 380,000 servers across 3,000-plus hosting providers and all hyperscale cloud platforms, supporting over 11 million websites worldwide. An easy path to integrate into Plesk eliminates a massive amount of work when enabling new technologies to our customers like the Storj platform."
The new V3 white paper discusses the many design constraints the Storj team took into consideration when designing the new platform. It also outlines a framework of eight components that comprise the overall architecture and explains how they will evolve as the network matures to address additional storage use cases, such as CDN, edge networks, and other storage sub-markets.
"Storj is a well-thought effort at providing storage services beyond the resource scale of the cloud, while retaining industry-grade quality of service," said Petar Maymounkov CTO at Aljabr and author of Kademlia, the widely used DHT technology that is central to the V3 network. "It harnesses the resources of decentralization, while addressing decentralized security organically using economic incentives and proof of (useful) work. I am excited to watch this system grow in the wild. It has the potential to set a unique example of how to scale peer-to-peer business architectures."
With the world expected to annually create 44 zettabytes of data by 2020, and cloud storage prices remaining flat, new solutions like the Storj platform can lower costs by leveraging existing, underutilized hard drives. Decentralized cloud storage can also improve security, availability, and performance when compared to traditional, centralized solutions. It also provides enhanced durability for data stored on the network and is more resistant to bad or unreliable actors, compared to centralized storage.
On top of the benefits Storj's decentralized cloud storage platform delivers to developers, companies and end-users, it can also help open source companies generate revenue every time their users store data in the cloud. This summer, Storj announced a new Open Source Partner Program (OSPP) that will use connectors to enable revenue sharing with open source companies when their users leverage Storj as their underlying storage platform. OSPP launch partners have been given access to an early version of Storj's new V3 network and their feedback has been a critical to refining the platform.
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About Storj Labs
Storj Labs provides secure distributed cloud storage that gives customers control over their data. The company's open-source cloud storage platform utilizes spare disk drive space shared by storage node operators, to create a secure network for developers, operations teams, companies and others in need of secure cloud storage. Using client-side encryption, the Storj network ensures that data can only be accessed by the data owners. The distributed architecture of the Storj network protects against attacks, improves reliability and enhances performance when compared to many traditional cloud storage approaches.
In 2016, the company completed a $30M token sale for its ERC-20 token STORJ. These tokens can be used on the Storj network to purchase services and are also used to pay farmers, who run more than 150,000 storage nodes with over 150PB of capacity in more than 200 countries and territories.
CONTACT: Jennifer Cloer, jennifer@rethinkitpr.com
SOURCE Storj Labs
