Due to blockchain based concept Storj potentially offers lower costs as well as enhanced security and privacy, like i.e. Siacoin is doing it. The users files are split into tiny pieces, afterwards encrypted, then uploaded ad stored on multiple computers / nodes in the Storj network. None of the nodes have access to the stored data. The StorjcoinX is a Bitcoin altcoin and uses the Bitcoin blockchain for transfer and security reasons. At the start of Storj in 2014 a total of 500 million Storjcoins have been created. This will be the number of Storjcoins, which will ever exist – there is no mining in place. This is different to i.e. Siacoin.