How to mine Storj

Storj is a platform that allows users to store data in a secure and decentralized manner, encrypting, shredding and distributing said data to the participants of the network. The data is stored by users that are willing to provide their extra storage space (although they cannot access it) in exchange for a monetary reward that is given in Storj (SJCX), the native currency within the Storj network. SCJX is a CounterParty asset, issued on the Bitcoin blockchain.

This system provides many advantages over traditional storage solutions, such as lower costs and zero server downtime, and it also allows anyone to take part in the process much like a Uber for storage space. - Click here to learn more about Storj

Storj can be "farmed" by anyone. Farming Storj is like mining a Proof of Work cryptocurrency like Bitcoin or Ethereum, except instead of providing computing power, users provide HDD space. As so, if you have some extra space that you're not using you can take advantage of it and start mining Storj! It is also possible to mine Storj on your mining rig to increase profitability and to build an HDD rig:

If you do decide to build your own rig, check out these HDD. Internal hard drives are more expensive but they also consume less power, where external HDD will consume more power but are more affordable. It's also important to note that HDD have a far greater life expectancy than GPUs when put under pressure 24/7. 

Seagate ST8000AS0002 Archive HDD V2 8000 GB Internal

Seagate Expansion 5 TB USB 3.0 Desktop 3.5 inch External

So, weather you're getting ready to buy a few hundred Teras of storage or if you have a few GB available, Storj is a great way to monetie your hardware as not everyone has access to high-end GPU's or ASIC miner. So, without further ado, it's time to learn how to mine Storj!

Part 1 - Create a Wallet

The first thing we'll need is a place to store our newly mined Storj coins. Since Storj is an asset issued on the Bitcoin blockchain through the CounterParty platform, we're going to create a wallet with the CounterWallet service. This wallet allows you to store both Bitcoin and other XCP assets like FoldingCoin, BitCrystals, and ofcourse Storj. 

We are going to use the Counterparty Web wallet. You can always choose the mobile version or browser extension here. 

Step 1: Click here to go to to the CounterParty Web Wallet.

Step 2: Click "Create New Wallet"

Step 3: Save the Seed generated by the wallet. This seed allows you to restore your wallet, so it is very important you keep a backup.

Step 4: Confirm that you've stored your seed (1) and then click "Continue" (2).

Step 5: In order to simplify your login process, you can create a password. Click "Create Quick Access URL".

Step 6: Enter a strong password (1) and click "Create Wallet" (2).

Step 7: Copy your Secret URL (1) and click "Create Wallet" (2). Remember to paste and store the link somewhere to store it.

Your Counterparty wallet is now ready to be used!

Step 8: Enter the wallet using your seed or password and accept the Terms and Conditions.

Now that you have created your XCP wallet and copied your wallet address, It's time to start mining Storj!

Part 2 - Download and Install Storj

Step 1: Click here to go to the Storj download page

Step 2: Download the latest version (currently v4.0.4) that best fits your O.S. We're using Windows 10 64-bit

Step 3: Double-click the downloaded Setup and install Storj. If you have a previous version installed, it will be updated

Step 4: When the installation is complete, agree to the terms & conditions by clicking "I accept"

Part 3 - Mine Storj

Now that you have installed Storj and accepted it's terms and conditions, Storj will be automatically open. This is your main interface and it will allow you to set up where Storj will keep the encrypted files, which wallet to mine to and so on. So, let's get started:
Step 1: Copy the wallet address previously created in Part 1 

Step 2: Now add this address to the "Payout Address" field on the Storj interface

Step 3: In order to start mining, you'll need to choose a place to store the uploaded files. Click "Browse"

Step 2: Select the drive where you want to store your files and create a new folder, Then click "Select folder"

Step 5: Define the storage space you'll willing to make available. More space = more Storj

Step 6: When ready, click "Start" 

Storj will do a few checks and prepare everything, then it will connect to the network. As Storj Share is running, you will notice that the designated folder will get filled up over time and your contract number will increase. In due time you'll start receiving Storj on the wallet you created.

If you want to add more space to Storj Share you can click on the "Drive" field, then select "Add new drive"

To stop Storj Share, simply click on the big green button that says "Stroj Share is Running"

That's it! You are now a Storj farmer/miner (whichever you like best)

If you do decide to build your own rig, check out these HDD. Internal hard drives are more expensive but they also consume less power, where external HDD will consume more power but are more affordable. It's also important to note that HDD have a far greater life expectancy than GPUs when put under pressure 24/7. 

Seagate ST8000AS0002 Archive HDD V2 8000 GB Internal

Seagate Expansion 5 TB USB 3.0 Desktop 3.5 inch External

If you do decide to put a HDD rig together, shows us in the comment section. We love Rig pics! 

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