What is Memority Project?
What is Memority Project?
Memority is a blockchain based decentralized platform that offers secure space for sensitive and valuable data by incorporating blockchain technology. The platform makes sure the uninterrupted availability of data copies which are encrypted by a secured blockchain protocol and stored on various unrelated locations all across the globe. The platform offers a high level of security to sensitive data by implementing four core features including private key encryption, forgery protection, accidental deletion safeguard, and self-containment and independence. The platform also allows third-party vendors to develop data storage application on the platform. The platform uses low-cost mining technology that is equally beneficial as compared to costly mining equipment.
Memority’s mission is to create a self-sufficient ecosystem that includes 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.Data security is ensured by encrypting the file when it is loaded into the system with a private key, which is stored only by the data owner. Access to the content of the data is
possible only with the help of this private key.
Memority.io is the platform for a completely decentralized, ultra-secure storage of valuable data on the blockchain, which ensures the continued availability of several encrypted copies of data on unrelated storage locations around the world.
The data is encrypted with your private key
No one except the owner can physically view the contents of the files, because they are encrypted with a private key, which is stored only by the data owner
Data is protected from accidental deletion
The system always stores multiple copies of data (default is 10), the monitoring system will periodically check their availability and creates new copies in other stores in case of insufficient number of duplicates
Data is protected from forgery
Memority.io Unique data identifiers are stored in the blockchain database, the system regularly searches for fakes and restores the correct number of copies with genuine data if files have been forged.
The system is completely self-contained and independent
Data storage, the process of files copies monitoring and recovering, data encryption and validation for authenticity are completely decentralized, there is no dependence on any centralized systems.
How Does Memority Work?
As mentioned above, Momority is a blockchain based decentralized data storage platform, we now would like to mention how it works. In order to use the platform, people need to get registered with it. Registration can be done online after accessing the official website of the company. The company has explained each and everything concerning its different services including how to lease out computer memory, how you can store your files with the memority and how to buy tokens using other cryptocurrencies. You just need to press the instructions tab available next to whitepaper option on the official website of the company.
- Storage decentralization
- Creation of several file copies in independent storages
- High payments to hosters for providing space for users’ files storage.
- Decentralized process of file copies checking and restoration.
- Storage protection from cluttering with useless data
- Anonymous cryptocurrency as means for storage payment.
- Interface for third-party app developers
The ICO has following team members;
- Ilya Ratovsky is the CEO of the Company
- Stanislav Rubtsov is the CTO of the Company
- Alexander Pivtorak is the PR Manager at Memority
- Vladimir Marchinskiy is the Head of Legal Department at Memority
- Vitaliy Minyaylo is the Marketing Specialist at Memority
- Andrew Vityk is the Blockchain Developer at Memority
- Alexander Petrenko is also the Blockchain Developer at Memority
- Oleh Reshtak is the UX/UI Designer at Memority
- Alexandra Andriyishyna is the Java Developer at Memority
- Alexander Kalmykov is the QA Engineer at Memority
- Eugene Harkavenko is the Swift Developer at Memority
- Michael Dvornichenko is the Business Advisor at Memority
- Denys Saprykin is the Financial Advisor at Memority
- Dmitry Semiryazhko is the Advisor at Memority
- Alexander Shulga is the Business Development Advisor at Memority
- Eugene Kuznetsov is the Blockchain Advisor at Memority
- Alexey Kostenko is the Backend Developer at Memority
Token Sales Detail
The ICO plans to hold its tokens sale on May 31, 2018. The ICO will last for about a month. It will end its token sale on June 30, 2018, or when the target funding is achieved. It could be either be earlier or later than the specified date. The total token supply of the ICO has not been disclosed by the ICO. The ICO will observe a soft capping of 5,000,000 USD. The hard capping of the ICO is defined as 85,500,000 USD. The starting price of the ICO token is expected to be 0.1 USD.
For more information:
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1885373