StorX (SRX) is a decentralized cloud storage network built on the XDC Network that enables users to store data securely and privately. The platform operates on a peer-to-peer model, connecting users who need storage with a global network of independent operators who rent out their unused hard drive space in exchange for SRX tokens. StorX aims to provide a more affordable, censorship-resistant, and private alternative to traditional centralized cloud storage services like Amazon S3, Google Drive, and Dropbox. ^{[1] [2]}​

Overview

StorX was created to address the inherent issues of centralized cloud storage, such as privacy risks, censorship, and the potential for single points of failure. By distributing data across a decentralized network, StorX eliminates the need for a central authority, returning data ownership and control to the user. The platform functions as an open marketplace where "Renters" (users) pay for storage using the SRX token, and "Hosters" (Storage Node Operators) earn SRX by providing reliable storage capacity and bandwidth. ^{[1] [3]}

The core of StorX's architecture involves client-side encryption, data fragmentation (sharding), and distribution. Before any data is uploaded, it is encrypted on the user's device, ensuring that only the user holds the decryption key. The encrypted file is then split into smaller fragments and distributed across numerous geographically diverse nodes. This design means that no single node operator, nor the StorX network itself, can access the complete file, significantly enhancing security and privacy. The system also incorporates redundancy to ensure data remains accessible even if some nodes go offline. ^{[2] [4]}

History and Team

The StorX project originated from the XinFin (XDC) ecosystem, conceptualized as a community-driven platform to democratize cloud storage. The initial business concept was developed in Q1 2020, with project development beginning in Q4 2020. Key milestones included the mainnet project launch in Q1 2021, an MVP and testnet launch in Q2 2021, and a focus on exchange listings and partnerships in Q3 2021. Later roadmap goals included a software 2.0 upgrade and the development of an S3-compatible gateway to facilitate broader adoption. ^{[3] [2]}

The project is managed by Web3-pioneers, a company specializing in Web3 solutions. The team includes professionals with experience in P2P networking and cloud services, with strong ties to the XDC Network. ^[5]

Key team members include:

• Handy Barar (or Barot): Founder of the StorX project. ^{[1] [2]}
• Atul Khekade: Co-Founder for Ecosystem and Strategy, who is also a co-founder of the XinFin (XDC) Network. ^[2]
• Prashant Singh: Head of Marketing. ^[2]
• Bharat Bhushan: Lead Blockchain Developer. ^[2]

Technology and Architecture

StorX's platform is built on a foundation of decentralization, cryptographic security, and blockchain-based economic incentives.

Core Storage Mechanism

The process for storing data on the StorX network ensures privacy and security from end to end.

1. Client-Side Encryption: Before a file leaves the user's device, it is encrypted using the AES-256 algorithm. The user generates and controls a private encryption key, without which the data is unreadable. This ensures that no third party can access the file's contents. ^{[1] [2]}
2. Sharding: The encrypted file is broken down into numerous smaller fragments, also known as "shards" or "shreds." ^[3]
3. Distribution: These encrypted fragments are distributed across a wide network of independent and geographically dispersed Storage Nodes. No single node holds a complete file, mitigating risks from data breaches or node failures. ^[1]

Data Redundancy and Repair

To ensure high availability and durability, StorX employs erasure coding. The whitepaper specifies the use of Reed-Solomon erasure coding, where an encrypted file is processed to create additional redundancy shards. This allows the original file to be fully reconstructed even if a significant number of storage nodes go offline. For example, in a configuration where a file is distributed across 40 nodes, it might only require 20 of those nodes to be online to retrieve the complete data. The network actively monitors for "storage node churn" (nodes leaving the network) and has a data repair mechanism to automatically create new fragments on other nodes to maintain the desired level of redundancy. ^{[3] [6]}

Network Components

The StorX ecosystem consists of several key participants operating in a zero-knowledge architecture.

• Storage Users (Renters): Clients who pay in SRX to store and retrieve their data on the network. They interact with the platform through a dApp or API. ^[6]
• Storage Nodes (Hosters/Farmers): Individuals or organizations that rent out their unused storage capacity and bandwidth to the network. To participate, operators must meet minimum hardware specifications (e.g., 2 CPU Cores, 4 GB RAM, 1 TB HDD), maintain high uptime (99.5%), and stake SRX tokens as collateral. They earn SRX rewards for providing reliable service. ^[2]
• Broker Nodes (Satellites): These are coordinating entities that manage the ecosystem. Their responsibilities include connecting renters with reputable hosters, managing data storage contracts (file contracts), tracking the location of data fragments, verifying data integrity through periodic audits, and distributing payments and rewards. They do not store user data themselves. ^{[1] [3]}

Integration with the XDC Network

StorX is built as a layer-2 solution on the XDC (XinFin) Network. This blockchain was chosen for several strategic advantages:

• Low Transaction Fees: The XDC Network is known for near-zero gas fees (cited as less than $0.00001 per transaction), making micropayments for storage and reward distribution economically viable. ^[2]
• High Speed and Scalability: The network offers fast transaction confirmation times (around 2 seconds) and a throughput of over 2000 transactions per second (TPS). ^[2]
• Smart Contracts: StorX uses smart contracts on the XDC blockchain to enforce Service Level Agreements (SLAs) between users and nodes. These "file contracts" automate terms for pricing, uptime, and payments. ^[3]
• Enterprise Focus: The XDC Network's focus on enterprise use cases and its compatibility with the ISO 20022 financial messaging standard provide a foundation for future integrations. ^[2]

SRX Token

The SRX token is the native utility token of the StorX platform, powering its internal economy.

Tokenomics

• Ticker: SRX
• Token Standard: XRC-20 on the XDC Network. ^[2]
• Total and Max Supply: 1,500,000,000 SRX. ^[1]
• Contract Address (XDC): xdc25735147938361b5cf63f03b4129792084719c23. ^[2]
• Token Allocation:
  • Community and Ecosystem: 40% (600,000,000 SRX) for node and farming rewards.
  • Foundation: 25% (375,000,000 SRX) for research, development, and partnerships.
  • Team & Advisors: 18% (270,000,000 SRX) with a 36-month vesting schedule.
  • Token Sale: 17% (255,000,000 SRX). ^[2]

Utility and Staking

The SRX token serves three primary functions within the StorX network:

1. Payments: Users pay for storage and bandwidth consumption using SRX tokens. The platform aims to be 80-90% cheaper than centralized alternatives. ^[2]
2. Staking: Storage node operators are required to stake a minimum of 5,000 SRX as collateral. This stake serves as a security deposit and an economic incentive for good behavior. If a node operator acts maliciously or fails to maintain required uptime, a portion or all of their stake can be "slashed" (forfeited). A provider's participation in network governance and their reputation score are also proportional to their stake. ^{[3] [2]}
3. Rewards: Node operators are compensated in SRX for reliably providing storage and bandwidth. A reputation system prioritizes more reliable nodes for data storage, allowing them to earn greater rewards. ^[1]

Ecosystem and Features

Key Platform Features

StorX offers a set of features centered on decentralization and user empowerment:

• Security and Privacy: Client-side end-to-end encryption ensures data remains confidential and accessible only to its owner. ^[1]
• High Availability: Through data fragmentation and replication across a global network of nodes, the platform guarantees high data durability and uptime, estimated at a minimum of 99.99%. ^[2]
• Cost-Effectiveness: By creating a competitive marketplace for existing, unused storage capacity, StorX significantly reduces the overhead associated with maintaining traditional data centers. ^[3]
• Censorship Resistance: The decentralized architecture makes it extremely difficult for any single government or corporation to block, remove, or censor data stored on the network. ^[1]

User and Developer Experience

StorX provides a web-based decentralized application (dApp) for users to interact with the network. Storage is organized into "Vaults," which are containers for files. Users can create an unlimited number of vaults and perform standard file operations such as uploading, downloading, sharing, and deleting content via a drag-and-drop interface. A dashboard provides an overview of storage usage and bandwidth consumption. ^[6]

For developers, StorX offers an S3-compatible API, allowing them to integrate decentralized storage into their applications with familiar tools and without significant code changes. The documentation includes integration guides for languages like Golang and NodeJS, as well as a Postman collection for API interaction. ^[6]

Market Position and Competitive Landscape

Market Data

As of December 12, 2025, StorX's market position was as follows:

• Market Capitalization: Approximately $13,000,289. ^[2]
• Market Cap Rank: Approximately #943 on CoinGecko and #988 on CoinMarketCap. ^[2]
• Circulating Supply: 327,877,698 SRX out of a total supply of 1,500,000,000 SRX. ^[2]
• All-Time High: $3.95 (September 7, 2021). ^[4]
• All-Time Low: $0.0216 (August 11, 2023). ^[4] SRX is available for trading on several centralized exchanges, including Bitrue, HitBTC, ProBit Global, and BitMart. ^[2]

Comparison with Centralized Cloud Services

StorX positions itself as a direct competitor to traditional cloud providers like Amazon Web Services (AWS), Google Cloud, and Microsoft Azure.

Feature	StorX	Centralized Cloud (e.g., AWS S3)
Architecture	Decentralized, peer-to-peer network.	Centralized, data stored in provider's data centers.
Privacy	End-to-end client-side encryption by default. User holds keys.	Encryption available, but provider can often access data or keys.
Security	No single point of failure; resilient to targeted attacks.	Vulnerable to data center outages and single-point attacks.
Cost	Significantly lower due to a competitive, crowdsourced model.	Higher costs, with complex pricing tiers and profit margins.
Censorship	Highly resistant to takedown requests.	Subject to corporate policies and government removal orders.
This comparison is based on analyses of StorX's architecture versus traditional cloud models. [1] [4]

Comparison with Decentralized Competitors

StorX also competes with other decentralized storage networks like Filecoin, Storj, and Sia. While they share a similar mission, StorX's primary differentiator is its integration with the XDC Network, which provides benefits in transaction speed and cost. StorX also aims for a more predictable, fixed-rate pricing model, in contrast to the volatile, market-based pricing mechanisms of some competitors. ^{[1] [2]}

Clarification on Juniper Networks

Several sources note a potential point of confusion regarding the "SRX" acronym. Juniper Networks, a multinational corporation specializing in networking hardware, markets a line of firewalls and security gateways called the "SRX Series." This is a coincidental overlap with the StorX (SRX) token ticker. Based on available information, there is no partnership, collaboration, or any other relationship between the StorX decentralized storage project and Juniper Networks. ^{[1] [2]}