Our community commitment to transparency and communication is of the utmost importance to us. As such, we are excited to be issuing our second quarterly newsletter—and the last one of this year! This past quarter has been filled with news about hires on the engineering and marketing teams, technological advances with SIP09, our successful town hall event where we presented our technological roadmap and answered community questions, and so much more. This newsletter will highlight what we’ve accomplished this quarter and what we can look forward to in the next quarter.
If you are new to Storj Bytes, please check out our last newsletter. Storj Bytes is your resource for the latest product and technology updates and a look ahead at our roadmap. It also details community feedback and how we’re integrating it into our work.
SIP06 has improved our network
In our last newsletter, we explained how SIP06 works and why we implemented it two months ago. Now we would like to update you on how it has significantly improved the network. Prior to SIP06, the load of Farmers on the Bridge was high: Each time the Bridge sent a contract for each shard upload, more than 1000 Farmers relayed this contract, and then the Bridge had to deal with the same number of OFFER messages. This congested the network and instantiated an overhead for the Bridge. As a result, farmers faced increased timeouts and error messages and were often unsuccessful in storing shards.
A second significant issue prior to SIP06 implementation was an uneven shard distribution. The first node that sent an OFFER message to accept a contract would receive the shard from the Bridge. The way the network was organized, U.S.-based farmers received the majority of shards, while Farmers in Europe struggled to get any contracts. From the Clients´ perspective, upload and download speeds were slow because they Clients were not utilizing the whole Storj network—just the U.S. Farmer bandwidth.
SIP06 solves both major problems described above by reducing the CPU load on the Bridge and Farmers.Clients are now receiving fewer error messages and can also upload more files. The shards are distributed ¨more evenly over the world, giving Clients maximum upload and download speeds. The Storj network has increased to 20PB as a result of SIP06!
The STORJ token is now accepted as a form of payment.
As a big part of our initiative to create more utility for the STORJ token, we’ve released a dramatically improved billing feature that accepts STORJ as a form of payment for storage space. This is only our first step to implementing many other features and requests so that the token can possibly be used in the future to buy other goods like swag. The community has been a great driver to push this feature—and we’re excited to finally put it into production. If you’re not sure where to see the STORJ token as a form of payment, log into the dashboard and navigate to the billing page. You should see it in the bottom right-hand corner.
Below are forward-looking statements about our product direction. The development, release, and timing of any features or functionality described for our products remains at the sole discretion of Storj Labs. The information herein is not a commitment to deliver any material, code or functionality, and should not be relied upon in making purchase decisions.
Storj will offer discounts to users who use the STORJ token for payments
As a way of giving back to the community and to increase the utility and velocity of the token, we will be releasing a discount program to complement the new billing feature…