[ANN] Memority - Decentralized Cloud Storage Of Valuable Data On Blockchain


Mar 14, 2018

The Memority project is developed by a team from Estonia, Ukraine and the United Arab Emirates and consists of 15 people. Memority is led by the CEO Ilya Ratovsky, who after spending many years in the payment processing sector decided to make this full-time as the idea quickly caught steam with investors and consumers alike. Memortiy Team has excellent experiences of the blockchain, websites, financial systems and security networks. Each of the participants has their own tasks and responsibilities. Therefore, they was speeding the project following a perfect roadmap. The idea of Memority was come up with in the year 2016; its platform development started in 2017 and users's feedbacks was collected in May 2018. Beta Version is planed to release in July 2018 and the fully made Memority Platform 1.0 will be published in March 2019.

Memority is the platform for a completely decentralized
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.

More specificially, with Memority, your data is encrypted with your private key, no one except the owner can view the contents of the files, because they are encrypted with a private key, which is stored only by the data owner. Moreover, 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. That will protect the data from deleting accidentally. Besides, your data also is saved from forgery. 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. Last but not least, the system is completely self-contained and independent. All of 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.

The Memority system gives each participant certain opportunities
Data owner can store data in an encrypted form in a decentralized and completely secure manner, paying for the storage with MMR tokens. They also can provide disk space for data of other users, becoming a hoster, and receive tokens to pay for the stored data.

Hoster can receive MMR tokens for providing their disk space to users of the Memority platform to store their data.

Third-party developers will be able to implement their ideas and create their own applications, using the infrastructure of Memority, and receiving MMR tokens for this.

And Miner can receive rewards in the form of MMR tokens for supporting the working capacity of blockchain executing their authority.

Memority Community

Memority has a big community with over 45.000 people who like and follow on Facebook. Its page is also reviewed 5.0 point, a maximum score. There are nearly 1.400 people who are following Memority in Twitter and over 12.000 members on Telegram. The number will continue to increase much more in the future.

I found out a comparison table in the website of Memority. The table compares the features of the two data storage platform. They are Traditional cloud storage and Decentralized cloud storage on blockchain. Let's take some minutes to consider the table.

From the table above, we can see that Memority obviously owns general advantages of the listed features. Advantages of other systems can not compensate their weak points. And longterm, decentralized, anonymous, reliable data storage with encryption can be provided only by Memority. So, why we don't choose Memority for investment?

More information:

Website: https://memority.io/

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

Facebook: https://www.facebook.com/mmority/

Twitter: https://twitter.com/frvrty

Telegram: https://t.me/memority

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