In the video, we can see how to set up a storage node, on the Storj blockchain network. Storj, was created to decentralize storage. There are many storage providers available but there is one common problem. In case of a company failure, nobody can keep the storage active and your data is gone forever. With decentralized storage, many people with personal computers, can become storage providers. The blockchain keeps copies of your data, on many different nodes, so if a node fails, your data is safe on a different node.
Storj, uses a technique called V3 network. With their technology, they try to minimize bandwidth use, achieve resilience in device failure or churn, amd keep compatibility with AWS S3. Other features are: Enterprise grade security, object storage and not database storage, Byzantine fault tolerance and general attack resistance.
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