BitMart, a premier global digital asset trading platf orm, will list Storx Network (SRX) on August 10, 2022. For all BitMart users, the SRX/USDT trading pair will be officially available for trading at 10:00 AM UTC.
What is Storx Network (SRX)?
StorX is an open source trustless, censorship resistant decentralized cloud storage network, powered by XinFin Network. StorX empowers users to store their data securely on the distributed cloud. Each file uploaded on StorX is encrypted by a user’s unique password and then split into multiple fragments to be stored on numerous autonomous storage nodes operated by individual operators spread worldwide. Every file on StorX is encrypted, fragmented and distributed across multiple nodes.
Core Focus of StorX Platform
- Creating storage supply for the network via recruiting storage node operators.
- Creating demand for cloud storage from paying users.
All data is encrypted client-side before reaching our system.
Data colocated on a Decentralized cloud by its design is duplicated and deduplicated across multiple nodes spread across multiple geographical locations and networks, this helps the platform provide immunity over system-wide events.
Data stored across the StorX network can provide superior read-intensive performance by deploying parallelism.
Storage Node Operators on a Decentralized network are hosted by Individuals, Which reduces the investments significantly.
- Star (Storage Nodes)
The primary function of the storage node is to store and return data. Aside from reliably storing data, nodes should provide network bandwidth and appropriate responsiveness.
- Redundancy Risk & Solutions
Provide access to the data with high probability, even though any given number of individual nodes may be in an offline state.
It allows users to choose storage based on geographic location, performance characteristics, available space, and other features.
Regardless of the storage system, It designs constraints require total security and privacy. All data or metadata will be encrypted.
- Audits and Reputation
Incentivizing storage nodes to accurately store data is of paramount importance to the viability of this whole system. It is essential to be able to validate and verify that storage nodes are accurately storing what they have been asked to store.
- Data Repair: File Redundancy
Using the StorX blockchain, renters form file contracts with hosts. These contracts set pricing, uptime commitments, and other aspects of the relationship between the renters and the hosts. File contracts are a type of smart contract. They allow StorX to create cryptographic service level agreements (SLAs) that are stored on the blockchain.
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About Storx Network (SRX)
On the StorX platform, The SRX token would serve as a payment currency, The user hosting data would have to make payments in SRX and the farmer hosting node would also receive payments in SRX. StorX holders stake SRX token to secure the StorX network and in exchange earn rewards.
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