Memority - DECENTRALIZED CLOUD STORAGE OF VALUABLE DATA ON BLOCKCHAIN
Memority is a blockchain-based platform
for encrypted decentralized cloud storage
of valuable data. Memority’s mission 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 platform includes a collection of independent
repositories from around the world,
which are based on computers of users who
have provided a part of the memory of their
hard drives for file storage. To ensure a high
degree of data security, 10 copies are created
for each of the stored files, integrity and
authenticity of which are constantly monitored.
If the number of file copies is insufficient
or the copies have been forged, new
copies of the original file are automatically
created for new hosters. The processes for
verifying availability, authenticity and recovery
of files are independent from the file
owner and will work autonomously as long
as the files storage in the system is paid for.
Data security is ensured by encrypting the
file when it is loaded into the system with a
private key, which is stored only by the data
owner. Access to the content of the data is
possible only with the help of this private key
Unique hash identifiers of data are stored in a blockchain database, so it is impossible to delete files, to forge them, or to forge information about storing files. All above mentioned allows unprecedented files protection from deletion and forgery. The motivation mechanism for hosters (people who provide a physical memory of electronic devices for data storage) is aimed at connecting as many ordinary computer users as possible with the system to maximize the number of independent repositories. Such a system will function with user data protection even if there are no more developers of platform-based applications, developers of the platform itself, or up to 90% of hosters are lost at the same time. Full self-sufficiency, the built-in self-cleaning mechanism and the decentralized nature of the functioning allow the system to exist and work for many years without outside management. The work of Memority is based on its own MMR tokens, the transaction history of which is also recorded in blockchain. The payment functionality is provided by the system of smart contracts, which pro
tects interests of all system participants and constantly cleans the platform from unnecessary files. The data owner can provide space on his device, thereby gaining the ability to store his data free of charge. This possibility is directed, among other things, to expanding the network of hosters, by including ordinary users in the system of computers. Memority API allows third-party developers to create desktop and online applications for decentralized encrypted storage of various types of data without a lengthy investigation into the technical details of blockchain technology. Developers are rewarded with 5% of payments for all stored files uploaded through their applications. The creation of new applications will trigger the popularization of Memority, and an even greater influx of hosters and users, which will positively affect the work of the platform.
Miners receive MMR tokens reward for ensuring the system is operational. Between all the miners who participate in the creation of the block, 5% of the payment for all files, entries of which are contained in the block, is distributed. The platform uses Proof of Authority, so the computing power is irrelevant to the process of blocks creation and will not increase with time. This is substituted with miner’s authority that they prove by having a large stake in the system. Therefore, a limited number of tokens is issued, and mining commissions will be charged when paying for file storage. Token investments and the token cost are protected from inflation. This is achieved by limiting the number of tokens and rewarding all participants in the system. In its turn, this will popularize the project and increase invectores’ profits in the long term perspective.
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.
The advantages of Memority system in comparison with other solutions are shown in Table 1.
Each participant of the system receives certain opportunities:
1. Data owner - can store data in an encrypted form in a decentralized and completely secure manner, paying for the storage with MMR tokens. Also, he can provide his disk space for data of other users, becoming a hoster, and receive tokens to pay for the stored data.
2. Hoster - can receive MMR tokens for providing their disk space to users of the Memority
3. 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.
4. Miner - receives rewards in the form of MMR tokens for supporting the working capacity of blockchain executing their authority (only 10,000 or more token owners can become miners).
ICO (INITIAL COIN OFFERING)
for purchase during Pre-ICO and ICO, namely 855,000,000 tokens. Unsold tokens will be destroyed. Types of payment are accepted: Ethereum, VISA, MasterCard, Bitcoin, Bitcoin cash, Litecoin. The current number of MMR tokens is 1,500,000,000. Their number will correspond to the amount of EMT at the end of the ICO, so the same number of MMRs as the unsold EMTs will be destroyed. We will not sell MMR tokens, they can only be exchanged for purchased EMT at a rate of 1: 1. Depending on the date of investment, the program provides for a number of bonuses: The Pre-ICO program allows the first investors to receive a reward of an additional 20% of the purchased EMT. This reward will be given only to those investors who purchase tokens from the pre-ICO dedicated pool: 60,000,000 MMR. All files, unsold during the Pre-ICO, will be added to the ICO reserve. The ICO program also allows to receive MMR bonus tokens. Investors who purchase tokens from May 31 to June 30 will receive a 15% bonus, from July 1 to July 31 - a 10% bonus, and from August 1 to August 31 - a 5% bonus. No bonus are presupposed for purchases made after August 31.
All MMR tokens will be allocated as follows: •In exchange for EMT tokens sold on an open presale is 4% of tokens (60,000,000 MMR) •In exchange for EMT tokens sold during ICO - 53% of tokens (795,000,000 MMR) •Remuneration to the team with a ban on sale during the year - 15% of tokens (225,000,000 MMR) •Rewards to early investors with a ban on sale for 6 months - 15% of tokens (225,000,000 MMR) •The reserve fund of tokens - 10% of tokens (150,000,000 MMR) •Bounty campaign - 2% of tokens (30,000,000 MMR) •Additional remuneration to early miners - 1% of tokens (15,000,000 MMR) The campaign is considered successful after collection of 5,000,000 USD
If the goal is not achieved, the funds will be returned to investors. After the ICO completion, the collected funds will be used as follows: 1. If collected between 5,000,000 USD and 15,000,000 USD, the bulk of the budget will go to the development and improvement of the Memority platform (67%). We will also conduct a basic marketing campaign (16% of funds) to attract the audience to the product. The remaining funds will go to operational and administrative costs (7%), rewards to the team and advisors (5%) and legal costs (5%). 2. If collected between 15,000,001 USD and 40,000,000 USD, a large marketing campaign (55% of funds) will be conducted to provide a large number of platform users (both hosters and file owners), which in turn will lead to high demand for MMR tokens and, respectively, a significant increase in their value. 35% of funds will go to the development and improvement of the Memority platform, and the rest to administrative and operational costs (3%), legal costs (2%) and rewards to the team and advisers (5%). 3. If collected between 40,000,001 USD and 85,500,000 USD, the development and improvement of the platform will cost 15% of the budget, which means that the main forces and resources will be allocated for a largescale marketing campaign (77%), which will provide a huge influx of users and application developers to the system. In this case, investors and miners will be able to get the most profit, as the system will perform many operations with MMR tokens, the share from which they will receive, as well as due to the rapid growth of the cost of the MMR token. 5% of the budget will be allocated for rewards to the team and advisers, 2% - for administrative and operational costs and 1% - for legal costs. After the successful ICO conduct, new tokens will not be issued, and they will be available for purchase only from ICO-investors on exchanges.
For More Information :
WEBSITE
ANN TOPIC
WHITEPAPER
TELEGRAM CHAT
Author Bitcointalk Profile : Tirta1
Unique hash identifiers of data are stored in a blockchain database, so it is impossible to delete files, to forge them, or to forge information about storing files. All above mentioned allows unprecedented files protection from deletion and forgery. The motivation mechanism for hosters (people who provide a physical memory of electronic devices for data storage) is aimed at connecting as many ordinary computer users as possible with the system to maximize the number of independent repositories. Such a system will function with user data protection even if there are no more developers of platform-based applications, developers of the platform itself, or up to 90% of hosters are lost at the same time. Full self-sufficiency, the built-in self-cleaning mechanism and the decentralized nature of the functioning allow the system to exist and work for many years without outside management. The work of Memority is based on its own MMR tokens, the transaction history of which is also recorded in blockchain. The payment functionality is provided by the system of smart contracts, which pro
tects interests of all system participants and constantly cleans the platform from unnecessary files. The data owner can provide space on his device, thereby gaining the ability to store his data free of charge. This possibility is directed, among other things, to expanding the network of hosters, by including ordinary users in the system of computers. Memority API allows third-party developers to create desktop and online applications for decentralized encrypted storage of various types of data without a lengthy investigation into the technical details of blockchain technology. Developers are rewarded with 5% of payments for all stored files uploaded through their applications. The creation of new applications will trigger the popularization of Memority, and an even greater influx of hosters and users, which will positively affect the work of the platform.
Miners receive MMR tokens reward for ensuring the system is operational. Between all the miners who participate in the creation of the block, 5% of the payment for all files, entries of which are contained in the block, is distributed. The platform uses Proof of Authority, so the computing power is irrelevant to the process of blocks creation and will not increase with time. This is substituted with miner’s authority that they prove by having a large stake in the system. Therefore, a limited number of tokens is issued, and mining commissions will be charged when paying for file storage. Token investments and the token cost are protected from inflation. This is achieved by limiting the number of tokens and rewarding all participants in the system. In its turn, this will popularize the project and increase invectores’ profits in the long term perspective.
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.
The advantages of Memority system in comparison with other solutions are shown in Table 1.
Each participant of the system receives certain opportunities:
1. Data owner - can store data in an encrypted form in a decentralized and completely secure manner, paying for the storage with MMR tokens. Also, he can provide his disk space for data of other users, becoming a hoster, and receive tokens to pay for the stored data.
2. Hoster - can receive MMR tokens for providing their disk space to users of the Memority
3. 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.
4. Miner - receives rewards in the form of MMR tokens for supporting the working capacity of blockchain executing their authority (only 10,000 or more token owners can become miners).
ICO (INITIAL COIN OFFERING)
for purchase during Pre-ICO and ICO, namely 855,000,000 tokens. Unsold tokens will be destroyed. Types of payment are accepted: Ethereum, VISA, MasterCard, Bitcoin, Bitcoin cash, Litecoin. The current number of MMR tokens is 1,500,000,000. Their number will correspond to the amount of EMT at the end of the ICO, so the same number of MMRs as the unsold EMTs will be destroyed. We will not sell MMR tokens, they can only be exchanged for purchased EMT at a rate of 1: 1. Depending on the date of investment, the program provides for a number of bonuses: The Pre-ICO program allows the first investors to receive a reward of an additional 20% of the purchased EMT. This reward will be given only to those investors who purchase tokens from the pre-ICO dedicated pool: 60,000,000 MMR. All files, unsold during the Pre-ICO, will be added to the ICO reserve. The ICO program also allows to receive MMR bonus tokens. Investors who purchase tokens from May 31 to June 30 will receive a 15% bonus, from July 1 to July 31 - a 10% bonus, and from August 1 to August 31 - a 5% bonus. No bonus are presupposed for purchases made after August 31.
All MMR tokens will be allocated as follows: •In exchange for EMT tokens sold on an open presale is 4% of tokens (60,000,000 MMR) •In exchange for EMT tokens sold during ICO - 53% of tokens (795,000,000 MMR) •Remuneration to the team with a ban on sale during the year - 15% of tokens (225,000,000 MMR) •Rewards to early investors with a ban on sale for 6 months - 15% of tokens (225,000,000 MMR) •The reserve fund of tokens - 10% of tokens (150,000,000 MMR) •Bounty campaign - 2% of tokens (30,000,000 MMR) •Additional remuneration to early miners - 1% of tokens (15,000,000 MMR) The campaign is considered successful after collection of 5,000,000 USD
If the goal is not achieved, the funds will be returned to investors. After the ICO completion, the collected funds will be used as follows: 1. If collected between 5,000,000 USD and 15,000,000 USD, the bulk of the budget will go to the development and improvement of the Memority platform (67%). We will also conduct a basic marketing campaign (16% of funds) to attract the audience to the product. The remaining funds will go to operational and administrative costs (7%), rewards to the team and advisors (5%) and legal costs (5%). 2. If collected between 15,000,001 USD and 40,000,000 USD, a large marketing campaign (55% of funds) will be conducted to provide a large number of platform users (both hosters and file owners), which in turn will lead to high demand for MMR tokens and, respectively, a significant increase in their value. 35% of funds will go to the development and improvement of the Memority platform, and the rest to administrative and operational costs (3%), legal costs (2%) and rewards to the team and advisers (5%). 3. If collected between 40,000,001 USD and 85,500,000 USD, the development and improvement of the platform will cost 15% of the budget, which means that the main forces and resources will be allocated for a largescale marketing campaign (77%), which will provide a huge influx of users and application developers to the system. In this case, investors and miners will be able to get the most profit, as the system will perform many operations with MMR tokens, the share from which they will receive, as well as due to the rapid growth of the cost of the MMR token. 5% of the budget will be allocated for rewards to the team and advisers, 2% - for administrative and operational costs and 1% - for legal costs. After the successful ICO conduct, new tokens will not be issued, and they will be available for purchase only from ICO-investors on exchanges.
For More Information :
WEBSITE
ANN TOPIC
WHITEPAPER
TELEGRAM CHAT
Author Bitcointalk Profile : Tirta1
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