Memority: Decentralized Ultra Secure Data Storage

in #ico6 years ago

Introduction

Hi dears, another interesting project is being started. First of all, for who missed previous entry, what's a cryptocurrency? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.

All this racket of cryptomoney has been increasing exponentially, however, most people know nothing about how blockchain technology works, what a smart contract is and how it could be used. For this very reason, I will first of all carefully introduce this type of block chain technology.

Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, paypal, etc.). The blockchain is the technological basis for all cryptomontages, whether Bitcoin, Ethereum, Hyperledger, etc.

An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agree. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.

smartcontract.png

After this brief introduction to the broad topic of Blockchain and Smart Contracts, we can already see that this technology opens many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.

For this reason, the project I am going to present you is Memority, the platform for a completely decentralized and ultra-secure storage of valuable data in the block chain, which guarantees the continuous availability of several encrypted copies of data in unrelated storage locations worldwide.

Presentation

Definition

As I said before, Memority (EMT) (https://memority.io/) is a completely decentralized and ultra secure encrypted data storage in the block chain, based on a platform for decentralized and encrypted cloud storage of valuable data.
The application includes a collection of independent repositories worldwide that are based on users' computers that have provided a part of the memory of their hard drives for file storage. It consists of the creation of 10 copies for each of the stored files, whose integrity and authenticity are constantly monitored, guaranteeing a high degree of data security when encrypting the file when it is loaded into the system with a private key, which is stored only by the owner of the data.


Goals
The main objective of Memority is to create a self-sufficient ecosystem that includes many applications to meet the needs of companies, government organizations and individuals in the super-secure storage of all kinds of valuable data.

Features

ImageDescription
feature5 file encryption.pngEncryption of data with user's private key
feature7 protection.pngData protection against accidental deletion and counterfeiting
feature6 data storage.pngAutonomous and independent system and Decentralized storage
feature8 motivation.pngMotivation of all participants
feature9 mining.pngProof of Authority mining
feature10 api.pngAPI for applications development


Advantages/Solutions
The Memority Ecosystem provides the following solutions:

  • Decentralization of storage facilities
  • Creation of multiple file copies
  • A large number of independent hosters in the network
  • Decentralized monitoring and recovery of the required number of file copies
  • Protecting storages from cluttering with unnecessary data
  • Use of cryptocurrency as a means of payment for storage
  • The interface for
    creating appli- cations by third-party developers
  • Financial motivation of third-party application developers
  • Encryption of data with a private key, which is stored only by the user
  • Free data storage
  • Complete anonymity
  • File storing and recovery systems are completely independent from the file owner
  • Complete independence from centralized systems
  • Storage of hash codes for each file in the blockchain-based database for data authentication

Roadmap

road.png


Airdrop


The project gives the opportunity to earn Memority (EMT) tokens performing some social media tasks and doing simple steps from the bounty program explained into the Bountyplatform section webpage. Here (https://bountyplatform.io/campaign/memority) you can access to the link in order to see what are the conditions to become an early EMT contributor and start acquiring tokens.

Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (https://memority.io/docs/whitepaper_memority.pdf). You can also stay tuned in their official Telegram group (https://t.me/memority). I hope you liked the post and soon I'll send you new ones.



Extra details

Token: EMT
Platform: ETH
Type: ERC-20
ICO price: 1 EMT = 0.1 USD
Tokens for sale: 855,000,000

token.png





Author Details

Email: [email protected]

Bounty0x username: @adriaparcerisas

Telegram username: @clauming

Bitcointalk username: adriaparcerisas

Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482

Ethereum address: 0xC6AB45541006D53D31E25b41c7d245c5Ad99BF71

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