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Joseph Young

Joseph is a web developer and designer, writer and a passionate musician who loves to travel. He has worked as a researcher for a number of venture capital firms and as a freelancer designer for resorts and corporations in Korea and the Philippines.

September 21, 2015
Adoption & community

Storj Network Passes 1 Petabyte Storage Space

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Decentralized cloud storage provider Storj Labs Inc. has announced that its second round of network testing called “Test Group B” has reached the 1 petabyte milestone of managed storage space.

Test Group B is an in-depth test of the platform’s storage client DriveShare , a software that enables users to earn money by sharing extra hard drive space. The Storj Test Group B has reached  1,173 terabytes in storage space and currently supports 293 users online.

“We’re extremely pleased by the support and validation we’ve received from our community,” said CEO Shawn Wilkinson in a statement. “We’re excited to release the world’s first crowdsourced cloud storage platform.”

The Test Group B network test is set to run until late October, with increased rewards and test group participants. In recognition of the 1 petabyte milestone, Storj Labs has increased the testing rewards pool from 100,000 Storjcoin X (SJCX) to 1 million SJCX, which is currently worth around $16,000.

DriveShare is an open-source software powered by the Storj network that is a part of the startup’s successful crowdsale campaign. The DriveShare client allows users to rent out unused hard drive or cloud storage space at the rates of Dropbox, Mega, Box and many other cloud platforms.

Photo  Ludovic.ferre  / Wikimedia (CC)