Storj and ERC20 converter

[jrnjacob]

Is migration from ETH network to Cardano using the ERC20 converter advantageous for scalability, interoperability and long term viability of Storj?

[nerdatwork]

Welcome to the forum @jrnjacob !

This has been thoroughly discussed and covered in the forum. Here are some of the links. Please read through these threads.

Feb. 8 Update on SNO Payouts and High Ethereum Gas Prices

Hello Storage Node Operators, Last month in the forum, we announced the introduction of our new minimum payout threshold, wherein we won’t send a payout if the transaction fee costs more than 25% of the overall payout, in USD. This was in response to rising Ethereum gas prices and the associated impact on SNO payouts. As you likely are aware, Ethereum gas prices have continued to increase significantly. As a result, STORJ transactions are now well into double-digits worth of USD per transactio…

Minimum Threshold for Storage Node Operator Payouts

Previously, we’ve posted about—and made changes around—how we conduct Storage Node Operator payouts based on steadily increasing Ethereum transaction costs. For example, we’ve consolidated payments across Satellites to reduce the number of transactions, thereby lowering overall transaction costs. The current combination of high gas costs and high ETH value has even made consolidated payments cost prohibitive. We’ve been exploring a solution for a withdrawal-based L2 solution, but we still have …

You can also search for other threads using forum’s search feature.

[Alexey]

I would add another link

Feedback on Layer 2 Payouts

Hello community! After completing last month’s payouts, we shared some of our thoughts about where things might go next for storage node operators, and one particular piece stood out to many operators here, which was that we were contemplating making zkSync be the default behavior. We have heard you loud and clear and (unless the community clearly requests otherwise down the road) will not be making zkSync the default. But we wanted to share more about our thoughts around this. First, our pla…

However, we do not plan to migrate to any other network. Token wrapping is not a migration, it is cross-chain support, nothing more.

[jrnjacob]

Dear Alexey, because of increasing gas fee and lack of clarity about ETH 2.0, i request the migration of Storj onto a more robust platform like Cardano which has less fee and easy conversion with the ERC20 converter. It’s high time to give a serious thought about even if it means shaking your status quo, it’s time for action because if you don’t embrace meaningful change when necessary that could mean loosing to competiton.

[jensamberg]

Cardano is a not working. No smart contracts nothing. If Storj move they should choose Tezos. Everything is implemented and working like SmartContracts LPoS, NFTs and big DeFi market

[jrnjacob]

I fully agree with you @jensamberg, a migration is necessary, ETH is cumbersome, either to Tezos or something else, O brought up Cardano because they are polishing up on smart contracts as we speak, launch for August or September. The point is Storj’s migration away from ETH is the right direction to take.

[Alexey]

Migration is not planned in the foreseeable future: Can Storj use a different blockchain for payments? – Storj