Memority is an innovative project that is aimed to solve the problem of data storage in various sectors of the economy which includes business organisations, government establishments, schools, industries, hospitals, etc. It is a unique platform that is designed using the blockchain principle.
The importance of storing valuable data/information cannot be overemphasized. For example, taking a look at the computer/Mobile phones industry, you will realize that computers/mobile phones are now manufactured with higher storage drives as compared to last 10 years. This simply reflects the demand for bigger storage of data. The Memority platform is designed to be an encrypted, decentralized cloud storage blockchain-based system.
Just as the blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network, Memority, functions by creating ten copies of each stored file and maintains the integrity and authenticity.
Storing only one copy of file, as found in other storage systems, increases the risk to lose the stored data. For example, Dropbox, Google Drive – do not create file copies. Amazon S3 can create file copies, but does not guarantee this. Memority platform, however, stores several data copies (10 by default) on unrelated storages as well other advantages compared to some existing storage systems- https://memority.io/.
File availability verification, authenticity, and recovery are independent from the file owner and will work autonomously. Once the data is loaded in the system, the file will be encrypted with a private key, which is kept by the owner of the data. This ensures data security. The only way to access this data is by using the private key. Special data hash identifiers are stored in a blockchain database. This action makes it impossible to delete files, forge them, or to forge information about storing files. This is a big leap towards ensuring secured storage of data. The technology can be used for long-term storage of secure data as well as unpermitted viewing.
Ordinary users can benefit from the technology by providing space in their own device, thereby, gaining the ability to store his data free of charge. Therefore, the network of hosters is expandable by the possibility of adding ordinary users.
Third-party developers can create desktop and online applications for decentralised encrypted storage of various types of data without the rigours of the technical details of the blockchain technology. The platform is planned to be beneficial to these developers. They shall be rewarded with 5 per cent of payments for all stored files uploaded through their applications. As more applications are created, Memority will become popular. This, in turn, will increase the number of hosters and users, thereby, positively moving the platform forward.
Miners shall be rewarded with Memority tokens for keeping the system operational. Mining commissions will be charged when paying for file storage. The platform uses the process of blocks creation called Proof of Authority. Therefore, the issue of computing power is not applicable. The platform shall ensure there is no inflation of Memority token by limiting the number of tokens and rewarding all participants in the system. This is a win-win for all investors on the project.
Key highlights of the Memority platform:
• Data encryption using your private keys
• Protection of the data from accidental deletion
• Protection of data from forgery
• Completely self-contained and independent system
• Motivation of all participants
• Mining technology: Proof of Authority (does not require costly equipment)
• API for applications development
CROWDSALE TERMS
20% bonus pre-ico : May 16th – May 3oth
15% bonus ICO: May 31st – June 30th
10% bonus ICO: July 1st – July 31st
5% bonus ICO: August 1st – August 31st
Token Price: 0.1 USD
Soft Cap: 5000000 USD
Hard cap : 85, 500000 USD
ROAD MAP
2016: The idea of Memority was born
May 2017: Memority platform development start
December 2017: Closed alpha release
Q3 2018: Client application optimization
April 2018: Memority Open Alpha release
May 2018: Users feedback collection
July 2018: Beta release
August 2018: Memority platform 1.0 development start
For more information visit:
Website: https://memority.io/
Whitepaper: https://memority.io/docs/whitepaper_memority.pdf
Telegram: https://t.me/memority
Author: https://bitcointalk.org/index.php?action=profile;u=1717893
