MEMORITY- THE DECENTRALIZED CLOUD STORAGE PLATFORM
Memority is a decentralized cloud-based system which is blockchain-based with the sole aim of storing valuable data for institutions, government, individuals and companies with high engagement and security. This platform is designed in such a way that data loss, data theft, unwanted access to data and data ambiguity is eliminated. It involves the use of a private key to ensure the safety of the data of individuals and also allows for the use of its native cryptocurrency as payment for the use of the platform. This system would allow development of Memority API to create accelerated global awareness and also reward developers. Miners are rewarded with MMR tokens for operational activities, and Proof of Authority algorithm is used, thereby decreasing the relevance of the computing power, hence, reducing the amount of energy that is consumed in the process of mining. Inflation of token price would be prevented by the continuous rewarding of participants. It operates on the basis of the Ethereum virtual machine, SQLite, and sqlalchemy databases, pyQt5 graphical user interface and interaction with Ethereum and user is conducted through the web3.py and aiohttp interface respectively.
Due to data storage related problems and exponential increase in data usage and creation, the Memority platform supports the quick access to data, confidentiality, easy storage, effectiveness and flexibility which is ensured by the Law of Metcalf, to bring massive success to the data industry through its decentralized, attack-proof, fault-proof and efficient platform.
This system features properties such as storage decentralization, complete anonymity of user, creation of several files copies in independent storage to prevent data loss, decentralized process of file copies checking and restoration, high payment to hosters for providing space for user file storage, cryptocurrency as a means of storage payment, rewards for third-party app developers, interface for third-party app developers, data encryption with private key which only the owner has, storage safety and file restoration independence, complete independence from centralized storage system, file hash-code storage in blockchain for data authenticity and verification and lastly free data storage availability.
There are also plans to create launch apps based on Memority platform to encrypt, upload and download files, for file sharing, downloading and viewing data on patent and scientific invention and lastly for downloading and viewing works of arts on the blockchain with subject to copyrights. They include file-chain.com, turtle.io, chain.gallery and MMR wallet.
This blockchain based decentralized system automatically keeps ten (10) copies of files in independent storages all over the world and encrypts it with a private key. Participants get MMR tokens by offering their contribution such as creating space for storage of data by others, mining tokens, developing applications while also providing an opportunity for a lost-proof and protected system.
Using the Memority platform is easy; users create an account, they upload their files and copies are sent to other storage/hosters and a hash code is generated to be stored in the blockchain to reduce unnecessary pressure to the system!
Memority has been designed to be complemented with an algorithm that allows self-cleaning of useless data and prevents duplication, modification and unauthorized access. A private key is generated for the user upon account creation, and full control and manipulation of data is allowed only to the owner. Owners can also give up some storage in their hard-disk to host the files of other users of the platform to put off the fee associated with the storage of data. All parties involved in the success of the upload and download of the files by the user are rewarded.
A miner is an owner of about 10000 tokens and has applied for participation in the mining process and the process is automatic. There is a designed format for the charging of fees for data storage from users and distribution of rewards to those involved in mining, app development and storage to bring about the successful upload and download of user files.
The ICO and pre ICO is to start on May 31, 2 018 and ends on October 1, 2018 of which there would be the sale of the EMT (Ethereum based token) at a starting price of 0.1USD which can be later converted to MMR token to be used on the platform. MMR token would be given as a form of reward to initial investors with a greater priority on early investors, and subsequently, EMT tokens will be swapped for MMR in a 1:1 ratio to be used on the platform. Money collected from investors is arranged to be used in the development of the platform, marketing, campaigns and improvements in the system in an agreed format based on the amount collected. New tokens would no longer be issued upon the full distribution of token but can only be bought from ICO investors. Considering the huge potential benefits and imminent credibility, owners, miners, developers, and hosters would be motivated to partake in the platform. Token investment is protected by limiting the number tokens and rewarding all participants.
Due to the flexible tools available for the creation of applications, ultra-reliable and befitting data storage and competitive nature of the system, it can be considered that the Memority would become the best-decentralized data storage blockchain system with great potentials. Greater priority and reward would be given to early miners to encourage mining activities and operation of the system. Our team would only be given a slight share of the tokens and 5% of the payment for the app we would create for the system. Our company is registered and has a team of very interesting, ingenious and motivated individuals committed to seeing this project through.
WEBSITE: https://memority.io/
WHITEPAPER: https://memority.io/docs/whitepaper_memority.pdf
TELEGRAM: https://t.me/memority, https://t.me/memority_news
TWITTER: https://twitter.com/frvrty
FACEBOOK: https://www.facebook.com/mmority/
BTT USERNAME: KINGIGOLO
BTT LINK: https://bitcointalk.org/index.php?action=profile;u=1416347