MEMORITY - DECENTRALIZED CLOUD STORAGE OF VALUABLE DATA ON BLOCKCHAIN

hirushaperera (38)in #bitcoin • 6 years ago (edited)

The datas of every establishments is often regarded as their life thread. This is because the stored data of any business organisation or institution houses the entire secrets, tools and vital informations that keep the ball of the organisation rolling. So if proper care of these data are not taken, the downfall of such a business is inevitable. For instance, if a bank’s customer transaction data which contains the private informations of all their customers and all transactions done is lost, then the bank is in for a disaster. So in order to prevent the dilemma which results from the loss of personal data, attention should be given to the safe protection of our datas anywhere and at anytime. So therefore, efficient data storage and safety can be made a reality by Memority platform.

What Is MEMORITY ?

Memority is a blockchain-based platform for encrypted decentralized cloud storage of valuable data. The system automatically keeps 10 file copies on independent storages all over the world at all times. Files are encrypted with a private key obtained only by their owner while account is created. Nobody can see the data without first decrypting it with this key

HOW DOES MEMORITY WORKS?

Users of the Memority App can upload files to the host providers. These providers have already formed an alliance with Memority and they provide a part of their computing memory. These files can be downloaded at any time. These files are safe, secure and anonymous because of the use of Blockchain. It also cannot be forged or modified. The files can only be opened and decrypted by a private 128-bit key and a password. A user downloads the Memority app and uploads the files for storage, the file is then encrypted. A private key and a wallet are provided to the user (Internal wallet used to store the Memority tokens). This wallet is used in paying for the data storage. The user then selects the number of copies they want to be stored, this is to prevent data loss.

Key highlights of the Memority platform:

Data is encoded with a private key - The owner only has the right to have a look of the contents of the files for safety measures as they are encoded with a private key which is stored by the data owner.
Data is secured from accidental deletion - With this system, various copies of data are stored (10 is the default number). The monitoring system will regularly check their availability. New copies are conceived and stored in case there is an inadequate number of duplicates.
Data is secured from being counterfeited - On the blockchain database, particular data identifiers are stored. The system look for any forgery and restores the right number of copies with authentic data if files have been faked.
The system is autonomous and self-sufficient - There is no more any centralized system. With blockchain, all data stored, file copies monitored and recovered are encoded and decentralized. There is no dependance.

Another advantage the Memority has over other platforms asides from its excellent vision, is its product. As at April, the team launched the Alpha version of the Memority storage platform. The team members are very hardworking and they strive to keep up with the roadmap while producing excellent results.

The initial coin offering is ongoing, the soft cap is almost reached at the time of publishing this , EMT can be bought during the Pre-Ico and ICO. You can then exchange EMT for MMR at a rate of 1:1 at any time through the Memority app or site.The MRR will be the token used for the operations of the platform, purchasing the EMTs during ICO will give you advantage to exchange it for MMR.

In conclusion, storage decentralization is a special component of Memority framework. Memority has an expansive number of autonomous hosters in the system because of the instrument of hosters inspiration. It is a framework for a totally decentralized, ultra-secure storage of important information on the blockchain, which guarantees the proceeded accessibility of a few encrypted duplicates of information on disconnected storage areas around the globe.