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Storj is a distributed storage technology that allows developers to encrypt files, split them into pieces and then distribute them across a global cloud network. ISG’s Manders recommends using existing distributed ledger alternatives such as Hashgraph, Iota Tangle and R3 Corda instead of blockchain. Iota Tangle and Hashgraph use Directed Acyclic Graphs (DAGs) as an alternative data structure for maintaining the ledger, which allows for faster data writing but a longer time for transaction confirmation. Iota Tangle supports micropayments and transactions across IoT devices, while Hashgraph eliminates the need for mining to grow the ledger.
