I´m sure my thought is quite radical but I just discovered this project a few days ago and began to setup a storage node.
By reading the forum I witnessed that there are several challenges regarding paying out the SNO, because as we all know the ETH Fee moved to a new ATH lately. Storj did provide the option to use “ZkSync” for quicker payouts, however this solution is - at least for me - not a favorable one, because I can not get for the hell of me my Ledger HW Wallet connected with it. I will just leave my normal ETH adress there and keep it running, as I don´t have any other option right now.
How about the team explores the XRPL for payouts in the future - there are no high fees and you can issue your token there. Would this even be an option?
Thanks for listening, even if I´m a new user around here.
This discussion has been done at least 20 times so “No” is the Summary of that. If you’re interested in reading all arguments, then please use the search and read the threads about payout thresholds and all the similar suggestions about changing the token/coin etc.
It’s been discussed before, Storj had already changed tokens before and is not about to do it again. Transaction fees should be solved in the next year or two on Ethereum with various upgrades.
Just out of curiosity, what system has been used before? It´s just that yes, I´m suited with XRP and I believe in the ecosystem. Everywhere I look I see projects being held back by ETH and the Fee issue (Gala is one such example) and I´d love to see it solved for once.
But of course I do not pretend to know more than the projects creators, just tried to give ideas here and there to see this space mature.
Hey @shirkhan1981 , sorry for the kind of cold reception. I know everyone who has responded so far is usually quite welcoming to new people, but you seem to have hit a nerve. Maybe they overlooked this above your post.
Anyway, welcome to the forum!
Yes, what you are suggesting (or any other blockchain you can think of really) has been suggested many times. The thing is that none of the blockchains really solve the issue of transaction costs, their limits are just further away because they are less popular. You read a lot about ETH and transaction fee issues because that’s what pretty much everyone uses. And for good reason. No other developer community can match ETH, which comes with a lot of upsides. Storj Labs is committed to ETH for this reason and more. Switching blockchains will either mean you end up on a less popular blockchain which makes it harder for customers and node operators to use and has less of an active developer community or you end up being lucky and picking the blockchain of the future, which will then be overloaded and run into the exact same issues as pretty much all of them have their limits as well.
The ethereum roadmap actually has a lot of promising developments to alleviate the scaling issues it’s facing. Rollups being one of them. Right now the best approach is to use that instead of taking a gamble on a less proven blockchain.
Before this Storj Labs used SJCX which was a counterparty token on the bitcoin blockchain. This ran into scaling issues and as a result the move to Ethereum was made. And we all know where that ended up.
So… there’s the full response. Please forgive the kind people who responded before me for being a little cold and dismissive. It’s nothing personal, it’s just that this discussion has come up over and over again on the forum with the same response every time. That can get a little tiring. But I hope you find your way around the search feature to find existing topics next time. And in the mean time, welcome to the forum!
