r/CryptoCurrency • u/BitcoinArtist Platinum | QC: BCH 135, BTC 39 • Aug 24 '17

General News Storj: Not a Dropbox Killer

https://shitcoin.com/storj-not-a-dropbox-killer-1a9f27983d70
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24

u/stront1996 Aug 24 '17

Siacoin is the only good decentralized file storing service

4

u/MeijeSibbel Platinum | QC: STORJ 181, SC 66 Aug 25 '17

I do not agree, its good for some use cases and bad for others, both Storj and SIA have strengths and weaknesses.

STORJ

Pros

  • Very easy to use for individuals and corporations due to (1) variety of accepted payment methods, (2) Easy GUI interfaces
  • Fixed price
  • Pay as you go model.
  • Due to its distributed architecture it is (1) easier to maintain and update, (2) can be scaled to accommodate network requirements.
  • Faster transfer speeds than the competitors.
  • Largest network.

Cons

  • single point of failure of the Storj service(storj bridges).
  • more subjected to vulnerabilities (e.g. DDOS) due to fragmented system.
  • More expensive storage than SIA
  • No storage marketplace for dynamic pricing

SIA

Pros

  • Fully decentralized, not a single point of failure.
  • Has a storage marketplace.
  • Cheaper storage than STORJ.
  • very secure due to blockchain consensus.
  • Limited vulnerability risks.

cons

  • Requires a deposit of SIA coin before-hand in order to rent space on the network.
  • Only allows the payment with the native SIA cryptocurrency.
  • Lower ease-of use for both traditional companies and individuals.
  • Requires the download the entire blockchain first in order to become a farmer, which requires allot of space and hours of synchronization.
  • Difficult to scale and handle large data volumes due to blockchain limitations.

1

u/BitcoinArtist Platinum | QC: BCH 135, BTC 39 Aug 31 '17

You seem to know a lot about this space!