:: Memority :: The Secure - Decentralized - Data Storage Network

in #memority6 years ago


Decentralized cloud storage system based on blockchain technology

Memority is a platform that enables the secure storage of important and sensitive data with built-in capacity to prevent alteration or deletion of the stored information.
Memority is unique in that the stored data is encrypted thereby making it inaccessible to unauthorized persons despite being kept on a decentralized ledger. The owner of the data alone is in possession of the decryption keys that gives access to the data. Information stored on the Memority platform is replicated at least to ten copies and are stored in different locations on the network, creating a decentralized backup system that ensures that the data is not inadvertently deleted or lost.
The system goes further to ensure the integrity of the stored data through routine checks that ensure that data in its repositories is an exact of the original and while being able to carry out upgrades, ensuring that all copies of the data stored in different location on the network are maintained in its pristine form.

Current Methods and Problems

Decentralized storage systems have gained attention since the advent of blockchain technology. However, there has really not been a platform that meets all the aspirations of users in terms being able to create a decentralized system of data checks and files restoration.
Existing platforms use few active hosts in their cloud storage systems increasing the risk of losses due to security breaches. There are no indications that their updates ensure file duplicates are kept in case of losses.
Most of these file storage platforms are known to have centralized monitoring and checking system while trying to maintain the integrity of data stored in them. This is contrary to the concept of decentralization and could be inimical to the objective for which data is stored on distributed ledger should the centralized monitoring system fall into wrong hands.

The Memority Solution

The power of decentralization is in the security provided by nodes located in different parts of the world which cannot possibly come under the control of an entity. Memority understood that monitoring of such system should also be decentralized. This is what the platform has done. Creating a system in which data is stored in decentralized repositories without centralizing its monitoring to ensure compliance with set standards.
The Memority cloud storage system encrypts data before storage thereby ensuring that only authorized persons can have access to them. Unlike other data storage platforms, Memority uses hash identifiers for the protection of stored data, making certain that they cannot be altered, deleted or cloned. This same technique is applied to protect the mechanism the platform uses in storing files.
Memority has a hoster incentive program that is highly rewarding to nodes that contribute their storage space to the cloud and also contribute to the security of the network. The benefit to hosters ensures that there will be more people willing to add their disc space for data storage, increasing the number of independent repositories.
The platform uses proof of Authority in which miners can benefit from by having a stake in the system. The Memority platform enables third party developer dapps on its easy-to-use interface.


Token Sale is Live

See website for details: https://memority.io/

  • Over $4.5 Million raised
  • Bonuses available
  • 15% bonus ends in 20days

Additional Information:

Website: https://memority.io/
Whitepaper: https://memority.io/docs/whitepaper_memority.pdf

Medium Blog: https://medium.com/@memority
Telegram Invite: https://t.me/memority




Article written by @justiceforall

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BitcoinTalk user link: https://bitcointalk.org/index.php?action=profile;u=803528
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What's the difference between memority and siacoin?

I'm not actually that familiar with Siacoin - I know they have similar objectives. This is something I have asked the dev. staff as I think it's a legitimate question to answer. When I get a reply I will pass it along.

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You got a 2.27% upvote from @upme thanks to @justiceforall! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).

This post has received a 7.33 % upvote from @booster thanks to: @justiceforall.

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Like the comment above, this reminds me of SIA. But SIA has enough issues to warrant some competition..
Keeping an eye on this figuring they have raised some 5mil already

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