Blockchain-based data storage platform,Memority, is going to become “the most secure ever developed” solution to satisfy the most demanding requirements for super-sensitive information storage. The technology will be completely decentralized, self-sufficient, and protected against forgery and data deletion. Memority has likewise expressed that “since we utilize Proof of Authority mining, there is no requirement for high calculation assets.”
Centralized framework is out of competition
The cutting edge technology increases the use of cloud storage and era of physical storage fades away. By 2020, it is evaluated that over $100 bln will be spent yearly by organizations on cybersecurity.
A few other ‘safe’ data repositories are available nowadays, nevertheless, the Memority team recognizes numerous features, differentiating their product from their competitors. Firstly, complete decentralization and access to the datasets only with a private key, obtained by a data owner, are unique features and are not provided by any existing storage platforms. Secondly, 10 data copies created by default with monitoring systems will guarantee the safety of the information preventing accidental or malicious deletion.
Uploaded files are also protected from forgery due to permanent monitoring system, which reviews data identifiers and authentication of uploaded content, restoring the correct copies. ‘Completely self-sufficient and independent’ functioning of Memority framework throws other centralized systems on the side of the road. All differentiating factors of Memority are described in colors on their website.
Their white paper states that the mission of Memority 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 key point of platform functionality is memory of computer hard drives that users provide as independent repositories. The more “ordinary computer users” connected, the higher the users’ engagement to maximize the number of storage units. The particular crypto token, MMR, based on the smart contract system, will circulate within Memority platform. “5 percent of all payments for data storage will be distributed between miners who take part in block creation”, further incentivizing users. Hosts will receive 90 percent of the payment from data owners for their file hosting services.
Roadmap and ICO
The idea of Memority was born in 2016. In 2017 the platform development began. The Memortiy creators, who gained an immense experience in blockchain, web production, financial systems and cybersecurity, succeeded in the recent release of the working MVP, which is available now for users to test from the Memority website. The Beta release is planned for July 2018, and the fully finalized Memority 1.0 platform is scheduled to be live by March 2019.
The Pre-ICO began on May 16, ICO start date is May 31, which will be conducted up to October 1 (1 EMT = 0.1 USD). It will be soft capped at $5 mln and hard capped at $85.5 mln. A detailed breakdown of token distribution and money distribution following the token sale is available on the Memority website.
The publisher of bitcoiner.today is not responsible for the opinions or recommendations expressed by its publishers. Investments in ICO's are high-risk investments, you may lose all or part of your investment. Consult with an investment specialist before you act.
The difficult thing is not to learn, the difficult thing is to know how to teach.
Editor and coordinator of the free book “La era de las BLOCK punto COM”
CEO of bitcoiner.today