What is Storj Share & How Does It Work?
It’s been a few days since I started the Storj Share node. So far everything seems to be working as intended. There were some hoops I had to go through in order to get everything working, the main issue I had run into was making sure that the node was synced in the network. It’s all working now so hopefully smooth sailing here on out.
Before I move on though, my thoughts so far and a few things I’ve learned about Storj. Everyone who runs a node on their own system be it windows, or whatever linux distro you run are the network that is Storj Share. People who run nodes essentially are sharing hard drive space which is put into a pool. This pool is then distributed to customers who purchase storage on a monthly basis with Storj Coins, the networks crypto currency.
Storj is a competitive platform, similar to steemit. People or nodes gain reputation by a few factors, the amount of up-time, how responsive your node is to the entire network, and the amount of successful ALLOCS your node is able to communicate with the network. Storj Share pays out to its network of nodes at the end of every month. I’ve only been doing this for less than a week so I can’t speak to any kind of return I may or may not get. Will update you guys though in another post when that time comes.
Here’s where it gets a little interesting. While running your nodes you have a chance to receive shards. Remember earlier how I said everyone is in one giant pool? Any data that is shared within the network will get distributed based on the amount of space needed to store shards. At least this is how my current knowledge of it works.
Shards are divided by 254 parts or buckets as Storj Share refers to it as. Let’s say if someone uploads something to the network that is 1 GB. What happens next is the block chain within Storj will determine which node is able to handle at minimum shard size of 1 GB. As far as I know it will only be sent to whoever responds the quickest within the network and that can hold a shard size of 1 GB. I’m currently sharing a hard drive that is 650 GB. The maximum shard size I can accept is around 2.5 GB. My assumption is that 650 divided by a total of 254 parts comes at around 2.5 GB.
Nodes are payed based on reliability, responsiveness, and mostly importantly the amount of data shared on your node. If you have a very active node then in theory you should get payed more. I guess we’ll just have to see how that turns out by the end of the month. I’m looking forward to updating you guys on how that progresses.
One last mention, there are a few dozen different dashboards which you can use to track how well your node is preforming. The one I use is called storjdash you can find it here If you want to find out more about Storj you can find their site here.
Stay tuned for more.
I waiting a crypto news. thanks for sharing.