StorX Network Community Q&A — June 2023
Before we could proceed to the questions in this AMA, We extend our deepest gratitude to each and every participant who sent out their questions. Your active involvement and enthusiasm have energized the project, reinforcing our commitment to delivering a robust and innovative decentralized storage solution. We appreciate your ongoing support and look forward to further engaging with you in future interactions. The success of StorX as a community project can only happen due to our collective efforts.
We would like to thank all our community members for sending across questions for AMA, We have tried to collocate all common questions and answers them collectively. As per our policy, we do not comment on Tokens Price or Future Price Predictions.
Q1. When does the team anticipate launching mainnet and are there any challenges in optimizing the code as the timeline has been pushed back a few times?
Yes, our mainnet is due to be launched in the coming months, Our team has put in tremendous efforts to get built-in storage dApp more resilient and robust, We do agree that there have been delays due to a few challenges, we have also been making iterations based on feedback that we receive. We are very close to launching and would make the required announcement through our social media channel, kindly stay updated.
Q2. Will a migration tool be available soon to migrate from one VPS to another? What’s the team's goal for a number of nodes once mainnet is launched? With PA last yr we’ve lost about 17% of nodes and the cost of running a node on many VPS is unprofitable (also a reason we need migration capability)
We do share the concerns our node operators have around the migration of nodes, Due to unique architecture and restrictions put in place to preserve the authentication of data, which might ultimately affect the data and the new reputation, We do face some challenges. However, we do have this as one of our top priorities, Once the mainnet is launched and stabilized.
Q3. What’s the plan to convert the StorX Tokens (SRX) into a Deflationary Cryptocurrency and timeline?
We do have plans to convert StorX Tokens (SRX) into a deflationary, But this is planned to be deployed at around Q4 of 2023 or early 2024, based on the feedback from our community, investors, partners, and stakeholders. A formal announcement would be made through our social media channel.
Q4. There will be a new listing in tier 1 cex this year? Any plans or is there a possibility for a nodes marketplace? About the XCDomains, will Storx interact with this kind of initiative in the future?
Yes, We intend to list SRX Tokens with a few more exchanges this year. However we are very conservative and cautious, We carry out multiple due diligence which ensures that we do not expose or take any undue risk. We are also open to all our community member's suggestions, We have also announced bounties for coordination and listing with crypto exchanges if approved.
Q5. When and how many SRX do ITFA and MOBI plan to purchase? Is StorX partnered with PLUGIN? How many people are on the technical support team?
Currently, there are no talks/ plans for either ITFA or MOBI to purchase SRX. StorX Network has not partnered with Plugin yet, But if we find synergies we could leverage and partner with, we are always open. We have a technical team of 02 people who are currently in support.
Q6. Is there any possibility of changing compensation in the future? Do you have any plans to enter into partnerships?
The compensation would be reviewed periodically once StorX dApp is live on mainnet. About partnerships, we are always open to any suggestions for partnerships. We have also announced bounties for our community for partnerships, The link to community bounty is as follows:
https://storx.tech/community-bounty.html
Q7. When StorX has reached production, will you be using a Freemium model and then working on converting some of the user base to paid users? If so, how much storage will free users get? Do you have any plans for targeted user acquisition through referral programs? (Perhaps both parties can receive extra space in return for the referral)? Do you have an early adopter strategy? Will you target tech-savvy users and startup communities to benefit from the network effect from adopters in the space? (Perhaps if there is a referral program users can contribute to some of the networking)?
Yes, we would deploy StorX in the Freemium Model, Storage packs of up to 2 GB would be free for all users' lifetime with limited features. Obviously, this is required for users to experience the service, these users would also have options to upgrade for a fee. Our referral plans would be announced in due course, after the initial launch adoption and feedback.
Q8. Which platforms will you be developing native apps for? Will you also be including native apps on mobile device platforms?
Yes, We have a plan to create multiple addons and supporting apps, we would be creating mobile apps both on Android and AppleOS. This would be done in phases though.
Q9. Do you have planned (or in place already) any strategic partnerships with hardware (computer/mobile device) vendors to have Storx native apps included by default on any of the devices they sell?
We are working with many partners but currently, we do not have any strategic partnerships in place for hardware (computer/mobile device) vendors or StorX native apps included by default on any devices. We invite our community members/investors for suggestions and introduction and we would be happy to share any bounty.
Q10. Will you be integrating with popular platforms and services (eg products like Microsoft Office and Adobe Creative Suite or others) and if so which ones are planned? You have a large base of existing node operators who all would love to see StorX successful. How can we best contribute to the business process (in addition to running infrastructure)?
StorX will be providing plugins/APIs integrating with popular software for easy connectivity, migration, and support. Storage node operators are our key partners and their support is critical for us to be successful. We invite our node operators to participate in various bounties listed below and help StorX grow: https://storx.tech/community-bounty.html
Q11. When the mainnet is released, can you also add to the browser experience the following features:
1. Upload files by drag and drop into the browser window file area.
2. Double-clicking a file in the Storx webpage could open the file in another window rather than always downloading by default perhaps? How do we get that option? Or perhaps we could right-click to download?
3. Can you add support for a choice of 2FA options? ie add hardware security keys like Yubikey as well as the software authenticators?
4. On the website, when we are in a subfolder in our storage and want to go up a level in the folder hierarchy, we have to click the back button. Can you make it so we can just click the “higher-level folder” that is already displayed above the file area? Just turn these folder names into links that go up/back to whichever level we click on. For example, if we are in “Bizdocs/Scans/New”, then that location when it is shown at the top above the files can consist of links such that if we click on “Bizdocs” or “Scans”, it will move straight to that folder?
We already have few of these features released along with the mainnet. Additionally, we would be adding few more as subsequent upgrade launches, We would keep all our stakeholders updated through our social media channels.
Q12. Do you guys still have an advisor in the project, where is Ludwig? Why this constant reluctant in having a moderator in the discord channel? This no management/moderator policy benefits absolutely no one.
Yes, we do have Mr. Ludwig as our advisor in the project, We already have our team monitoring and responding where necessary in discord.
Q13. What were the key takeaways or highlights from StorX Network’s participation in events like Cloudfest, Consensus, and TiEcon? How has participation in these events helped to raise awareness about StorX Network and its decentralized storage solutions?
As the concept of Decentralized Cloud storage is still nascent, Our primary objective was to provide information about StorX Network and its benefits. Our team had an excellent conversation and were able to share insight about our Dcentralized Cloud storage services.
Q14. Can you share any insights into the feedback or reactions received from industry experts, participants, or attendees regarding StorX Network’s participation in the recent events? And if so, How does StorX Network plan to leverage the connections and networks established through these events to foster growth and expand its user base?
We were able to have wonderful connections and would look forward to collaborating with these resources in the coming month to enhance usage in the market.
Q15. What steps is the core team taking to enhance the security and privacy of the StorX platform? Are there any upcoming security measures or audits planned?
Yes, We constantly work with our security team and external audit partners, We would also have a full-scaled audit report public around the processing of user data, once the mainnet is launched, This will help to create more trust amongst its user base.
Q16. With Mainnet approaching, What efforts are being made to optimize the performance and efficiency of the StorX network? Are there any plans for scaling the network to accommodate a larger user base?
We always welcome new node operators to our network to augment our current storage capacity. Through the mainnet launch, we would be looking at utilizing our current node operators' capacity.
Q17. Can the team provide insights into the process of identifying and dealing with inactive nodes in the StorX Network? How does the team monitor and manage node activity?
All information relating to the nodes is online and available in real time at https://famer.storx.io. Our team does review the nodes at regular intervals. We also have a software patch update scheduled for all node operators. This will also help to effectively manage all node and their services to the network. We believe that once the nodes update is live, the issue of nodes going offline can be managed effectively.
Q18. What are the specific use cases or industries that StorX Network is targeting? How does the platform cater to the unique requirements of these industries?
We are looking at creating storage use cases that are general requirements for all industries. As we grow we would keep learning from its deployment and create use cases around specific industries, We welcome all our community members to work with the product and inform if there could be any specific use cases deployed.
That’s it for now!
We want to thank each and every member of our community, our storage-node holders, and everyone who has been involved since our project inception for their incredible love and support.
We have received some fantastic questions and hope to do a similar event on a more regular basis.
The sole purpose of this AMA is to update our community members about StorX Network dApp future direction through forward-looking statements. StorX Network retains full discretion over the development, release, and timing of any features or functionality described. It is important to note that the information provided does not constitute a commitment to deliver any specific material, code, or functionality. Therefore, it should not be solely relied upon when making financial decisions.
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