Storj.io (pronounced “Storage eye oh) is a proposed new service for storing data in the cloud. The data can be anything you wish. I suspect most users will use Storj.io as a file backup service, keeping copies of critical files off site and available at any time. Storj.io’s primary goal is to provide a cloud storage solution that is substantially faster and 50% less expensive than traditional data center-based cloud storage solutions provided by Amazon, Google and Microsoft.
Storj uses distributed peer-to-peer storage. That is, there are no centralized servers with huge disk drives. Instead, the Storj.io software breaks the file(s) to be stored into thousands of tiny segments, encrypts each segment, and then stores the segments in available disk space of other Storj.io customers. Each segment is stored in multiple locations. The result is that the information can be restored to the user’s system at any time, even if some or even many of the other Storj.io customers turn their computers off. There are so many segments saved in so many locations around the world that the possibility of any segment being unavailable at any time is mathematically almost impossible. The developers of Storj.io expect the system to provide 99.99999% availability, higher than most any competitive system in use today.