The Storj Network utilizes the STORJ token, launched in 2017, to power its network. Prior to the release of the token, a tradition token, SJCX existed with a supply of 500 million. In 2017, the tradition SJCX token was stopped and the task moved from the Bitcoin- based Counterparty platform to the Ethereum blockchain. Until January 2020, tradition SJCX token holders had the ability to transform their tokens into the brand-new STORJ token.