StorageChain price

WSTOR

#4506

StorageChain, based in Los Angeles, CA, was founded in November 2022 to provide next-generation decentralized storage and file sharing solutions. Our mission is to revolutionize the web2 cloud data storage industry by leveraging innovative web3 technologies that ensure data security, privacy, file upload speed, and accessibility. The first 150GB of storage space is provided free to the user. Additionally, the cost of the service is about 75% less than web2 cloud storage solutions.

At StorageChain, we understand the importance of decentralized storage in an environment of massive global data breaches. To enhance the capabilities of our storage solutions, we have integrated the InterPlanetary File System (IPFS) into our product ecosystem. IPFS is a distributed file system that allows for an ultra secure, peer-to-peer storage and retrieval of data. By leveraging IPFS, we provide our customers with a robust data storage infrastructure that ensures file upload speed, data integrity, availability, and security.

The StorageChain technology is built on the Substrate framework, which provides a flexible and scalable foundation for blockchain development. Our native chain utilizes the Ethereum Virtual Machine (EVM), enabling compatibility with Ethereum-based blockchain and smart contract features. This compatibility empowers our users to leverage the full potential of standardized Ethereum functionalities, including the creation of wrapped coins (ERC-20) and the minting of non-fungible tokens (ERC-721).

Our storage node network, consisting of storage/validator nodes, forms the backbone of our decentralized storage ecosystem. Through the utilization of a Proof of Stake (POS) consensus mechanism, we ensure the efficient and secure operation of our network while promoting energy efficiency and reducing environmental impact. Project participants can earn STOR coins by providing storage and bandwidth services hosted on their own local or virtual machines.

By combining the power of IPFS, Substrate, and the Ethereum Virtual Machine, StorageChain delivers a cutting-edge storage solution that redefines data storage and retrieval. Our commitment to innovation, security, and customer satisfaction drives us to continuously enhance our technology and expand our offerings.

The reason “WSTOR” is mintable is to create a bridge to trade native Cryptocurrency “STOR” as “WSTOR” on the Ethereum network. The "WSTOR" token is an Ethereum-based token using the ERC-20 standard, you need to manually add it to your MetaMask, Trust Wallet, MyEtherWallet or other EVM compatible wallets: Enter Token Contract Address: 0x50B275a15E4F5004AA96F972a30E6A9C718b203f Enter Total Decimals: 18

The "STOR coin" exists on its own blockchain and if you want to trade it on the Ethereum network, you'll need to wrap the coin here : https://wrap.storagechain.io/. This service converts the native token into an Ethereum-compatible token (like ERC-20) and locks the original tokens in a smart contract.

Initiate the Wrap: Follow the instructions provided to initiate the process. you'll receive an equivalent amount of "WSTOR" on the Ethereum network.

Confirm the Wrap: Once the wrapping process is complete, you should be able to see your "WSTOR" balance in your wallet. Make sure to verify this on a blockchain explorer like Etherscan. Trading: With your wrapped "WSTOR" tokens in your Ethereum wallet, you can now trade them on decentralized exchanges (DEXs) that support ERC-20 tokens, such as Uniswap, SushiSwap, or any other relevant DEX that lists "WSTOR."