Does Storj use blockchain?

We get this question from time to time; here is an explanation of how Storj and blockchain relate

We use the Ethereum blockchain to power the platform’s payments to storage node operators around the world, using our own utility token STORJ. This enables us to easily make payments across more than 200 countries and territories to hundreds of thousands of people in just a few hours. We also accept payment on the network for storage services in tokens.

Why use a token?

  • It give us more possibility to accelerate payments.
  • Possibility of programmatic payments - we can make payments occur programmatically, so when we’re paid for the storage capacity we provide, we can divert a portion to a referring partner, a community, or customer.
  • Microtransactions become feasible in ways that would not be possible using fiat.
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