Memority ICO - The Revolution Of Cloud Storage

INTRODUCTION

Memority is a blockchain-based platform for encrypted decentralized cloud storage of valuable data. Memority’s mission is to create a self-suffient ecosystem that in- cludes many applications to meet the needs of businesses, government organizations and individuals in the ultra-secure storage of all kinds of valuable data.

The platform includes a collection of independent repositories from around the world, which are based on computers of users who have provided a part of the memory of their hard drives for file storage. To ensure a high degree of data security, 10 copies are created for each of the stored files, integrity and authenticity of which are constantly monitored.

If the number of file copies is insufficient or the copies have been forged, new copies of the original file are automatically created for new hosters. The processes for verifying availability, authenticity and recovery of files are independent from the file owner and will work autonomously as long as the files storage in the system is paid for.

Current Problems

The creation and use of data today is growing at a staggering rate, but existing mechanisms for storing data are not yet sufficiently secure or reliable; in recent years traditional cloud-based hacks and phishing attacks alone have become notorious for their ease and widespread effects.

The crypto space is actually especially in need of secure data storage solutions; most of us can name a few personalities who have been (or at least claim to have been) hacked and lost incredible amounts of money due to shoddy storage solutions which did not prevent against hackers.

Current systems allow a lot of scope for malicious actors looking to profit in some way from hacking or using someone’s data without their consent or even their knowledge.

This is absolutely not a viable long-term state of affairs as we progress further into the accelerating information age, and is no solution at all for reliably and securely storing sensitive data. So how does Memority intend to solve these issues?

Memority’s Solution

Memority’s use of distributed blockchain technology makes it inherently decentralised and secure. It is this marriage of data with blockchain’s inherent security and decentralised characteristics which makes solutions such as Memority fundamentally superior to current top traditional solutions for data storage.

There are, of course, newly emerging blockchain based data storage solutions becoming available, such as Storj, but Memority argue that such solutions are fundamentally lacking in different areas.

Namely, due to the fact that these products are generally highly specialised applications with partial centralisation, and which are not always specifically focused on creating a mutually beneficial ecosystem for hosters, users, miners and third-party developers alike.

Memority are competitive not only against traditional systems but also aim to provide a superior experience to other such similar blockchain-based solutions also. To this end, Memority have conducted detailed industry and competitor analysis, and have compiled an overview of the functions of existing traditional and blockchain-based solutions.

Memority believe that by implementing the below features their platform will offer a fundamentally superior decentralised data storage solution.

Why Memority?

During this era, the challenge that arises as a result of lack of reliable and convenient way data storage generates the need to have a decentralized and very secure platform for storing these data. Apart from its application in the financial field, Memority can also be used for long-term storage of secure data which is guarded from forging, deletion or unauthorized viewing.

In order for Memority to achieve secure data storage, the files are automatically encrypted when they are loaded into the system by use of a private key which is kept by the owner alone. The data stored in the system can only be achieved by the use of these private key.

If you operate on centralized servers which are basically traditional data storage, then your files are exposed to threats of deletion, modification, and forgery because your files and those of fellow users are stored in one common place. Memority provides a solution to these problem by creating a storage system of independent sources in various places in the world comprising not only specialized hosting providers but also computers of regular users.

Another compelling reason for the establishment of the Memority’s platform is to address the risk that is associated with losing the data that has been stored. Mani centralized storages comprises of potentially inappropriate host computers that contain an increased risk of data loss, forging of the data stored and worse deletion.

The Memority’s system is capable of storing several data which is set at a default of 10 duplicated copies on various storages. The Memority’s platform constantly checks and restores several duplicates of each file by the aid of a centralized monitoring system which enhances provision of reliable protection from data loss. Failure to have the recovery options for stored data can cause a permanent data loss after turning off the computer on which the data was stored.

Initial Coin Offering (ICO)

Memority’s platform intends to roll out its tokens sale starting on May 31, 1018. The ICO will be active for a period of one month. The company plans to end its token sale on June 30 2018 or alternatively earlier incase its target funding is achieved.

The soft cap target is $ 5,000,000 USD while the hard cap target is $ 85,500,000 USD. Memority’s platform is based on ethereum tokens and individuals are required to use ethereum to buy the Memority’s tokens. The initial cost of the ICO token is set to be 0.1 USD.

Token sale

Roadmap

More information :

Website : https://memority.io/
Telegram chat : https://t.me/memority
Twitter : https://twitter.com/frvrty
Facebook : https://www.facebook.com/mmority/
Whitepaper : https://memority.io/docs/whitepaper_memority.pdf
Medium : https://medium.com/@memority
My Profil bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1636502