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Summary of StorageChain
Key Points
- Founded in November 2022 in Los Angeles, CA
- Mission: Revolutionize web2 cloud data storage industry with web3 technologies
- First 150GB of storage space is free, 75% less expensive than web2 cloud storage
- Integrated with InterPlanetary File System (IPFS) for secure, peer-to-peer storage
- Built on Substrate framework with Ethereum Virtual Machine (EVM) compatibility
- Native chain utilizes EVM, enabling Ethereum-based blockchain and smart contract features
- Storage node network with Proof of Stake (POS) consensus mechanism for efficiency and security
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About StorageChain: Empowering Decentralized Data Storage
Headquartered in Los Angeles, CA, StorageChain was established in November 2022 with a vision to pioneer decentralized storage and file sharing solutions for the next generation. Our mission is to transform the web2 cloud data storage landscape by harnessing cutting-edge web3 technologies, thereby ensuring uncompromising data security, privacy, rapid file upload speeds, and seamless accessibility. Notably, we offer the first 150GB of storage space absolutely free to our users. Furthermore, our service boasts a cost savings of approximately 75% compared to traditional web2 cloud storage solutions.
At StorageChain, we recognize the paramount importance of decentralized storage in an era plagued by massive global data breaches. To augment the capabilities of our storage solutions, we have seamlessly integrated the InterPlanetary File System (IPFS) into our product ecosystem. As a distributed file system, IPFS enables ultra-secure, peer-to-peer storage and retrieval of data, thereby providing our customers with a robust data storage infrastructure that guarantees rapid file upload speeds, data integrity, high availability, and uncompromising security.
The StorageChain technology is built upon the Substrate framework, which provides a flexible and scalable foundation for blockchain development. Our native chain leverages the Ethereum Virtual Machine (EVM), thereby ensuring seamless compatibility with Ethereum-based blockchain and smart contract features. This compatibility empowers our users to harness the full potential of standardized Ethereum functionalities, including the creation of wrapped coins (ERC-20) and the minting of non-fungible tokens (ERC-721), thereby unlocking a vast array of possibilities.
At the core of our decentralized storage ecosystem lies our robust storage node network, comprising storage and validator nodes. By leveraging a Proof of Stake (POS) consensus mechanism, we guarantee the efficient and secure operation of our network, while concurrently promoting energy efficiency and minimizing environmental footprint. Participants in our project can earn STOR coins by offering storage and bandwidth services, hosted on their local or virtual machines.
By harnessing the synergies of IPFS, Substrate, and the Ethereum Virtual Machine, StorageChain pioneers a revolutionary storage paradigm that fundamentally transforms data storage and retrieval. Our relentless pursuit of innovation, unwavering commitment to security, and dedication to customer satisfaction propel us to perpetually refine our technology and broaden our offerings.
The rationale behind making “WSTOR” mintable is to establish a conduit for trading the native cryptocurrency “STOR” as “WSTOR” on the Ethereum network. The “WSTOR” token, an Ethereum-based token adhering to the ERC-20 standard, necessitates manual addition to your digital wallets, including MetaMask, Trust Wallet, MyEtherWallet, or other EVM-compatible wallets, by entering the following details:
Token Contract Address: 0x50B275a15E4F5004AA96F972a30E6A9C718b203f
Total Decimals: 18
The STOR coin operates on its own proprietary blockchain. To facilitate trading on the Ethereum network, it is necessary to wrap the coin via this service:
https://wrap.storagechain.io/
. This innovative solution seamlessly converts the native token into an Ethereum-compatible token, conforming to the ERC-20 standard, while simultaneously locking the original tokens in a secure smart contract.
Embark on the Wrapping Process: Simply follow the provided instructions to initiate the wrapping procedure, and you will subsequently receive an equivalent amount of “WSTOR” on the Ethereum network.
Verify the Wrap: Upon completion of the wrapping process, your “WSTOR” balance should be reflected in your wallet. It is essential to confirm this on a blockchain explorer, such as Etherscan, to ensure accuracy. Trading: With your wrapped “WSTOR” tokens safely stored in your Ethereum wallet, you can now seamlessly trade them on decentralized exchanges (DEXs) that support ERC-20 tokens, including prominent platforms like Uniswap, SushiSwap, or any other relevant DEX that lists “WSTOR.”