Memority is a recently established decentralized platform that is based on blockchain technology that enables the sustainable availability of a number of encrypted duplicates of data on various storage locations in the world. The platform founded by Memority comprises of an assembly of repositories from various places in the world, which on the basis of computers of customers who have provided part of their memory for data storage. These enables the platform offer high profile security to sensitive data. It is founded on four main pillars including; private key encryption, forgery protection, accidental deletion safeguard and self-containment and independence.
Financial plan
The company’s mission and aim for the future is to create a platform that will permit only its users to operate and manage it. During the initial stages, the company intends to earn a minimum of 5% of all the funding obtained for storage and the Memority Applications will be the first to be made available to the users. Basically we are saying that the beneficiaries of these 5% will be any random developer who will be lucky enough for their Application to be used in uploading files and a majority of them tend to be third party developers. The Memority team of experts will also benefit from owning tokens, mining and also being able to use their own platform.
Memority’s Main Components
Data encryption with a private key
For Memority to attain secure data storage, its files are encrypted using a private key before being stored in their system. Viewing the data stored in the system can only be made by use of that private key. These permits only the data owners to view the data and information stored in their system.
Data is guarded from forgery
The company’s platform is developed with unique hash identifiers of the contents that are stored in the blockchain which makes it impossible to erase these files or forge them. Memority offers an incentive technique which aims at connecting as many regular computer users into the structure to make the maximum of the number of independent repositories.
The system is independent and self-sufficient
All the activities (Data storage, the process of file monitoring and subsequent data encryption and validation for authenticity) are fully decentralized and there is completely no dependence to any centralized system.
Data is protected from accidental deletion
The company founded a platform that comprises of an assembly of repositories from a number of places in the world, which on the basis of computers of users who have provided part of their hard drive’s memory for data storage. The company’s platform makes a minimum of ten duplicates of the files stored in their system. In case of these files are compromised, new duplicates of the original file are created for the new hosts.
Why you should invest in Memority
API for App development
By the aid of its API, Memority permits third-party inventers to come up with desktop and online applications for decentralized encrypted data storage of different types of data. Developers are motivated by being prized with 5% of payments for every stored file that was uploaded using their application.
Proof of Authority mining
The company uses the latest mining technology that does not need expensive tools and equipment to perform its duties. Memority’s team of experts noted with concern that the key elements of mining are not only time and computing power but also the level of trust to the miner that also matters most. These level of trust is determined by the mechanism of Proof of Authority. The platform permits only users who has 10,000 or more tokens to become a miner
Motivation to all participants
Developers are motivated by being prized with 5% of payments for every stored file that was uploaded using their application. The platform also enables payments for storage to be equally distributed between the hosters and the App developers
website: https://memority.io/
Telegram: https://t.me/memority
Whitepaper: https://memority.io/docs/whitepaper_memority.pdf
