[Pre-ANN] Memority - decentralized cloud storage on blockchain

[memority]

Idea: We are creating a blockchain-based platform for encrypted decentralized cloud storage of valuable data.

Roles and incentives
Users will be able to upload their files in several copies to multiple random hosters (10 for both cases by default). Files are encrypted at user’s end with a private key, which is stored only by the data owner. There is independent monitoring system that checks files availability and authenticity through hash-codes that are stored in blockchain. If any content  modification is identified, a new file copy is uploaded to a new random hoster, and the “bad” hoster is kicked out with his rating being lowered. Thus, user’s files can not be deleted, lost or viewed by anyone except the user. And all this functional flow is completely decentralized.
Anyone can become a hoster allocating free space on their hard drives. Hosters receive 90% of owners payments for file hosting.
API for third-party developers will be implemented, so that they could use our structure to create their own apps without the need to figure out how blockchain data storage works. They will get 5% of all payments for files uploaded through their apps.
4.5% of payments for data storage will be distributed between all owners of 1,000 tokens or more (to incentivise holding tokens).
And the final 0.5% will go to miners. As we use Proof of Authority mining, there is no need for high computing powers, but only owners of 10,000 tokens or more have an opportunity to become miners.

Why another blockchain-based data storage?
A couple of  services might look similar (Sia, Storj, Filecoin and others), but they are really not. Some have distinct centralization points, some use blockchain only for token operations, but the most significant point is none of them guarantees you files will be intact no matter what happens. Usually you need to launch your app to check all stored file copies. If some of them are missing, the app reuploads files from your computer. Thus, first of all, you become a liability and the source of centralization, and more importantly, there is no point in keeping your data elsewhere encrypted and decentralized if you need to back it up on your computer.

Technologies
We use our own private blockchain network based on Ethereum. Encryption is provided by the Fernet (AES-128) algorithm. We use a new algorithm of consensus Proof of Authority for mining.
Github with current project code: https://github.com/Memority/memority

We actually have a working alpha. It’s not pretty yet, but you can upload your files, or store data of other users. Hereby, two basic and the most important functions are already implemented.
To get the alpha or to read more info visit our web-site: https://memority.io
Our whitepaper: https://memority.io/docs/whitepaper_memority.pdf

If you have questions or feedback, you can ask them here or in our Telegram chat: https://t.me/joinchat/CSoHpA-mgTHkEDDZ92Lk-g

[1714510416]

1714510416

[1714510416]

1714510416

[memority]

Hey. I have just created a dedicated due diligence page for Memority on ConcourseQ
Check it out here, https://concourseq.io/Q/Memority and you can easily fill-in information about the project, as  ConcourseQ is collaborative and community sourced.
For questions about filling any the info, you can jump to our discord group and ask out: https://discord.gg/j8RBAwB

Thanks a lot! We sure will.

[S3cco]

Memority.io Announces ICO Pre-Sale On The Heels Of Successful Release Of
Revolutionary Ultra-Secure Data Storage Platform Built On The Blockchain
https://bitcoingarden.org/memority-io-announces-ico-pre-sale-on-the-heels...

Memority.io made international headlines this week with news of an ICO Pre-Sale launch and release of their data storage platform. The difference here is that this is not just another headline in the midst of others. While we see headlines left and right briefing us of the latest security & data breaches, the Memority press release is to announce the polar opposite. The Memority platform, built on the blockchain, by definition is the most secure data storage platform ever developed.  This Initial Coin Offering has the ability to reshape the entire data storage and encryption industry which has investors and consumers chomping at the bit to get involved.

Memority is a blockchain-based platform for a completely decentralized, ultra-secure storage of valuable data, which ensures the continued availability of several encrypted copies of data on independent storages around the world. Unlike other data storage platforms, Memority encrypts the users data with a private key and is protected from accidental deletion. By using unique identifiers the data is protected from forgery and because it is completely decentralized, only the user acts as Administrator. Perhaps one of the most distinguishable features of the ICO/Platform is that each user, by becoming a token holder stands to profit daily from each user who pays storage fees. This wealth distribution model also allows for hosters, developers and investors to profit from the business model....

[CucakRowo]

Reserved place to watch progress.

[LoveCryptoAll]

Do I understand correctly that the main feature of the project is data encryption in order to save data, money in the clients' wallets? In principle, this is a normal move.

[BitProNews]

Less than 14 days till the end of the token presale as shown in website, Amount collected: 1,360,592 USD Softcap 5,000 000$

Why would you need my personal information if i want to participate in sale?

At any time, we can request documents to verify your personal information. If you can not provide them, we reserve the right to cancel the charging of tokens without any compensation.

How you will cancel the charging of tokens if i got them before you asking documents to verify my personal information?

Bounties has 2% from the sold tokens after the crowdsale but i didn't find any bounties yet.

[smile226688]

This project is quite promising! I'm waiting for good news and a bright future!

[memority]

Do I understand correctly that the main feature of the project is data encryption in order to save data, money in the clients' wallets? In principle, this is a normal move.

Data encryption is not the main one. The main one is how we store this data: 10 copies are uploaded to 10 different random hosters. They constantly monitor each other and if something's wrong with the data or hoster - the data is reuploaded to a new hoster independenly from us or even data owner. So this is all decentralized and incredibly reliable.

Hello! I am editor from icoholder.com. Your ICO was added to our listing and now is available to investors: https://icoholder.com/en/memority-21716 You can edit your Page by adding more information about your ICO after verification and also verify team members to improve ranking. 

Thank you!

Why would you need my personal information if i want to participate in sale?

In case you want to purchase tokens for more than $9,999 USD (due to AML regulations), or in case you are the resident of one of the countries that have restrictions on ICOs, cryptocurrencies.

How you will cancel the charging of tokens if i got them before you asking documents to verify my personal information?

We can destroy them after you receive them. But except for ETH, we will ususally request documents before charging tokens, if we suspect something.

Bounties has 2% from the sold tokens after the crowdsale but i didn't find any bounties yet.

Will be up very soon.

[bostaufik]

Start date of public Pre-ICO: May 16, 2018
End date of the public Pre-ICO: May 30, 2018
ICO start date: May 31, 2018
ICO end date: October 1, 2018
Starting price of the EMT token: 0.1 USD

Amount collected: $3,141,503 USD softcap $5,000,000 USD

[Futureshock]

So how does this differ to something like the SAFE Network, the project that MaidSafe are working on? It looks like you're trying to attempt to solve some of the same problems that those guys are but you're placing all your eggs in the blockchain tech basket? Is that right?

[CucakRowo]

Any bounty?
Translation perhaps?

[annazaitun87]

your project looks very good and very suitable for current needs, given the many theft of data internet users I hope Memority can be the leading solution

[memority]

So how does this differ to something like the SAFE Network, the project that MaidSafe are working on? It looks like you're trying to attempt to solve some of the same problems that those guys are but you're placing all your eggs in the blockchain tech basket? Is that right?

They are creating a different platform. Our focus is data storage that is as safe and secure as it gets. While SAFE is creating a decentralized network. They clam they also have decentralized storage but I could not find detailed description of how it will work. Yet I am pretty sure that their product will be very different from ours.

Any bounty?
Translation perhaps?

Here: https://bitcointalk.org/index.php?topic=3915297

[KotiKo]

The strength of the project is that the output to the ICO is carried out with a fully working alpha version of the product. It has the main part of the functionality, you can store your files, become a host, and the data is encrypted and automatically restored.

[merridaa]

an excellent data processing project, and this concept is not quite special because it is quite difficult to develop into new and more creative things, and the last post on June 30, I was not sure yet with the development without renewal