Security is one of the main problems for people in life and in business. Many threats pose a threat to business life. Blockchain technology has catalyzed fundamental technological changes in many businesses.
Research and development currently offer the bulk of blockchain technology in the future of business and industry.
Many start-ups are already working on creating a cybersecurity solution based on blockchain technology. Cloud storage is the latest standard among enterprises for data storage. Security solutions for cloud storage are also needed to ensure data confidentiality and ensure system security.
Do you think that there is an opportunity to create solutions based on blockchain technology for solutions for cybersecurity and solutions for cloud storage?
Cryptyk Inc. is developing the blockchain based CRYPTYK platform, which is a cloud storage and security solution for enterprises and businesses. CRYPTYK relies on a “hybrid blockchain” algorithm which is pillared on two complementary platforms:VAULT and SENTRY. VAULT is a decentralized multi-cloud storage platform developed for encrypted file management and sharing. SENTRY is a blockchain based decentralized platform for tracking and auditing of all events associated with users’ access and file sharing instances
What a Product Do They Offer?
In simple terms, the solution is aimed at small businesses and individual users, who want to enjoy the opportunities of the cyber security cloud drive service. According to the creators of Cryptyk, the platform is much cheaper as compared to other blockchain-based data-processing ecosystems. The software features a variety of opportunities, such as:
- data storage;
- file sharing;
- protection of data;
- editing of documents;
- messaging, and so on.
Aimed at both organizations and individual users, the system of Cryptyk can be compared to standard cloud storage services with the delay time of over 200 milliseconds. The only difference is that the new solution is non-centralized for the sake of reducing latency.
Instead of preventing file security flaws, the team behind Cryptyk is focused on the assumption that hacks are inevitable. They are doing their best to make every piece of information ‘hack-proof’.
Using the unique Hybrid Blockchain Mechanism, the specialists behind the software integrate the encrypted system of data preservation with the blockchain tools for file monitoring. Thus, the ecosystem of Cryptyk gets the opportunity to protect users’ information from the major cloud security threats.
The crowdfunding details and token economy
The CTK Token Sale Event is designed to bring in the primary market penetration for the financial, legal, accounting and insurance industries. The token is denoted by the symbol CTK and it is a ERC – 20 standard token that is powered by blockchain technology.
A total of 750 million CTK tokens will be created for the purpose of sale. The ICO is divided into Private Pre-Sale and Public Sale rounds. Tokens are priced at 10 cents for for pre-sale investors and 12.5 cents for public sale investors. The Pre-Sale Launch Date is set for Thursday, February 8, 2018. The Pre-Sale Close Date Friday July 6, 2018.
The Bonuses for Volume Purchases is fixed at 10% – 40% bonuses for purchases that go over $50k, $100k, $250k, $500k, $1million. Early Investor Bonus Period 10% early investor bonus available if purchased in first 8 days of round.
The team is an experienced team in the field of cybersecurity and blockchain technology. The funds which will be collected during the crowdsale will be utilized for the development and marketing purposes.
Supported by very experienced Advisors and some ace investors which speaks volume about the potential of Cryptyk.
Cryptyk is official IBM embedded solution partner for blockchain and cloud services and was named in top 10 enterprise security startups of the year 2018.
Cryptyk aims to target enterprise users and small businesses who enjoy the ease of use and convenience of cloud storage while reducing costs associated with cyber security. Cryptyk claims that it will be able to provide low latency access (200 milliseconds) to users that will be comparable to conventional cloud storage services (Sia, Filecoin, Storj).
However, Cryptyk states that it sacrifices decentralization to reduce latency. They will “compromise between the minimum attack surface and the low latency is for the number of nodes around 5 storage nodes”, compared to its competitors, such as Filecoin with 20-50 nodes and BTC / ETH with thousands of nodes.
For now, CTK follows the ERC20 tokens protocol, although the information memorandum states that the final product can be built on different blockchain protocols. The company is currently on trial.
The need to have a custom token is obvious, since CTK will be used to perform major operations within the Cryptyk ecosystem. It is stated that CTK value will grow directly with respect to Cryptyk’s revenue, regardless of market sentiment.
The project token is based on the Ethereum block system and complies with the ERC20 standard. The official designation of the token is STK. The main function of this token is to maintain the domestic economy of Cryptyk, the main crypto currency.
The implementation of the STK tokens will take place within the framework of the ICO, which is scheduled for two stages with a short break between them.
The first stage is Pre-Sale. It started on February 8, 2018 and will end on July 6. At the same time, in the first week of pre-sale, you could buy tokens with a 10% bonus, after which the cost of one STK was $ 0.125. The same price will be valid at the main stage of the ICO, which will be held from July 18 to August 31.
The total number of emitted tokens was 750 million units. Of these, about 33% of STKs (approximately 250 million units) are allotted for sale on Pre-Sale and Token-Sale. The main crypto-currencies accepted to pay for the purchase were ETH and BTC. Also accepted are DASH, ZEC and LTC.
The minimum expected profit from the sale of tokens is $ 3 million. The maximum possible profit is $ 25 million.
Official site: https://www.cryptyk.io/
White paper: https://www.cryptyk.io/files/Cryptyk-Business-White-Paper.pdf