Memority: Decentralized secure storage of valuable data on the blockchain
Memority is a blockchain based decentralized platform that offers a fully decentralized secure storage of important data on the chain which eventually ensures a sustainable availability of several duplicates of data on different locations across the world by making the use of blockchain technology. The platform offers high profile security to sensitive data. It is founded on four main pillars including; private key encryption, forgery protection, accidental deletion safeguard and self-containment and independence.
With the aid of its API, Memority permits third-party inventors to come up with desktop and online applications for decentralized encrypted data storage of different types of data. Developers are motivated by being prized with 5% of payments for every stored file that was uploaded using their application.
In addition to these, Memority’s platform uses a Proof of Authority which means the computing power is useless in the procedure of creation of blocks and will not escalate with time. Memority’s token cost and the token investments are protected from inflation.
Memority’s key features
Data encryption with private key
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.
Data is protected from accidental deletion
The platform founded by Memority comprises of an assembly of repositories from various places in the world, which on the basis of computers of customers who have provided part of their memory for data storage. In order to achieve a high profile data protection, 10 duplicated are made for every one of the files stored. Just in case these duplicates are compromised, new duplicates of the original file are automatically generated for the new hosts
Data is protected from forgery
Memority’s platform is designed with unique hash identifiers of the data which is stored in a blockchain database which makes it unmanageable to delete the files or to forge them. Memority also offers an incenting techniques which targets to connect as many regular computer users in the structure to make the most of the number of independent repositories.
The system is completely independent
Data storage, the process of file monitoring and subsequent data encryption and validation for authenticity are fully decentralized and there is completely no dependence on any centralized system.
Token Sale
The company’s platform intended to roll out its tokens sale starting-date May 31, 2018. The ICO will be active for a period of one month. The company plans to end its token sale on June 30 2018 or if 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. For more information please check: https://memority.io/
Tokens Distribution
Percentage Area of allocation
4% Public Presale
53% Token Sale ICO
15% Team members of the ICO
15% Seed investors in the ICO
10$% Reserve fund
2% Bounties of the ICO
1% Early miners of the ICO
Why you should invest in Memority project
Following a cautious review of the memority project and ICO, my opinion is that Memority is a sensible opportunity to invest in because it has a workable objective which is expected to be of advantage to many people in large scale if it is achieved.
By the aid of its API, Memority permits third-party inventers to come up with desktop and online applications for decentralized encrypted data storage of different types of data. Developers are motivated by being prized with 5% of payments for every stored file that was uploaded using their application.
For more information, please follow these links:
Whitepaper: https://memority.io/docs/whitepaper_memority.pdf
Website: https://memority.io/
Social network:
Telegram: https://t.me/memority
Twitter: https://twitter.com/frvrty
Facebook: https://www.facebook.com/mmority/
Blog by: Isaac Kimutai
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=2211010
Telegram: @Isaac_kimutai
Facebook: https://web.facebook.com/isaac.kimtai.16
Steemit: https://steemit.com/@kimutai/
Medium: https://medium.com/@isaackimutai
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Memority sounds like it could be the next big thing. Fingers crossed.
Sure Salman, this is a good product