Storj Ends Token Conversion Program as Investors of SJCX Coin Must Act Quickly

Storj, a decentralized cloud storage system, is ending its token conversion program, according to a recent report by CoinDesk.

According to the report, the firm announced this week that it will end its long-running token conversion program, which is responsible for swapping users’ SJCX tokens that are developed on the Counterparty blockchain to the STORJ token. The program will officially come to an end on January 1, 2020.

The report also indicates that the decision was made because the number of conversions were low for the past six months. Remaining tokens will be transferred to the Storj general reserve after the closing date. The platform also announced that its shift to ethereum will allow for lower transaction fees and improved security and programmatic payments.