Head to Head: Siacoin (SC) & Storj (STORJ)

Jul 4, 2017 AltcoinsBlockchainEditor's PicksResearch 2

Storing and accessing your data over the internet has become very seamless. The benefits of cloud computing surpasses that of physical storage. Google, Apple, Microsoft and Amazon have been leading the industry in providing cloud storages that are flexible, can be recovered and secure. However, nowadays we have blockchain and cryptography which are leading the charge in shaping the technology we use to record and keep track of payments and transactions. How does this relate to cloud computing? Imagine now you have a stronger and cryptographic-ally secured cloud database due to the fact it is stored on a blockchain. The value that is driven from blockchain cloud computing is that it is completely decentralized and private, which means you and you only are able to access your encrypted data with a private key.

In the cryptocurrency world, Siacoin and Storj are examples of companies that want to overcome the cloud computing giants. Lately there has been a buzz around cryptocurrencies as a whole and currently cloud computing, as we can see an 80% increase in price for Storj from July 3rd-4th from $0.60 to $0.90. This has sparked my comparison of the cloud computing leaders in the cryptocurrency market (Note the figures 1 & 2 are for ranking 1st or 2nd when comparing Siacoin & Storj).

Comparison between siacoin and storj cryptocoins altcoins
Information was taken on July 4th, 2017 from CoinMarketCap

At the pace technology is moving and blockchain along with it, both Siacoin and Storj can easily disrupt the space by partnering with the industry giants. This will make their solutions even more attractive to their customers as the industry leaders have a strong foothold in the cloud computing market. Imagine Apple and Goolge start using Siacoin or Storj as the back-end platform for storage in order to reduce costs and offer their customers more reliable and consistent uptime. In the end it would be a win-win type of situation where both parties involved can benefit and could cause a major disruption in the cloud computing industry.


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Davit K

Davit is a corporate development professional at one of Canada's largest FinTech companies, responsible for strategic planning and execution of M&A transactions. He spends his free time traveling and writing about new developments in blockchain and crypto currency world.

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