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RE: STORJ - Decentralized Cloud Storage on the Ethereum Network
HI @pandorasbox,
Both provide cloud storage but in different ways,
Sia uses blockchain for payments and coins are mined and uses its own platform.
Storj uses end to end encyption, cryptography and distributed storage on nodes using the Ethereum network.
Right, so basically they do the same thing but one has it's own blockchain and the other uses Ethereum.
If that's the only difference between them.. well, I wouldn't know how to pick the winner between them. I could see Siacoin possibly being able to offer a cheaper service because of specialization, but with the popularity of Ethereum.. who knows? I may get out of this market, with such uncertainty..
Siacoin will have difficulty scaling using there own platform is built from the ground up, current network size is 215 TB vs 8 PB in Storj with little restricitons on growth using Ethereum.
Yes Siacoin is more specilized and is targeted towards enterpise use rathar than consumers.
The security of the network in Storj i think is the best point.
With Siacoin the ease of development on platform with anyone able to contribute.
Yeah I guess there are subtle differences. And there is probably room for both, just like how there is room for more than 1 in the current cloud storage scene.
What bothers me is when crypto's choose terrible names. Siacoin is one of them, IMO. A name like Storj is not awesome, but a lot better and has a certain vibe that the internet community likes. I wish Siacoin would have chosen a better brand name. I think it matters a lot in today's world.
I am holding on to my tiny amount of Siacoin (only $50 or so) just for the fun of it. I expect good gains but nothing huuuuuge. Not like Ethereum, NEO, etc., it just doesn't have that potential. That's why I mainly stick my large investments into projects that do have that potential, and keep a small assortment of coins like SC mostly for fun. I noticed that at some point, collecting different kinds of crypto almost becomes like a hobby too! That's why I have 4000 Dogecoins too! Just have to have some Dogecoins! It is my donation, to give value to Doge, by hodling them and not selling!