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Storj is an open-source, decentralized platform that uses a network of nodes to store user data and files. STORJ is a utility token that powers the Storj DCS (decentralized cloud storage) network. The STORJ token runs on the Ethereum blockchain and is used to incentivize and reward Storj network participants for their contributions.

By encrypting and splitting files into smaller pieces before distributing them to its global network of storage nodes. When data needs to be reassembled, the network automatically pieces it back together. Storj DCS, therefore, helps to eliminate the security, privacy, and availability issues that their centralized counterparts are fraught with.

Although the network allows you to rent space in fiat or STORJ, network participants who lease storage, known as "farmers," are paid out in STORJ. Anyone with enough storage space to spare can become a farmer and earn STORJ for the space they provide.