Hello guys, Today I'll be creating an article reviewing CRYPTYK.
WHAT IS CRYPTYK?
Cryptyk is basically a decentralized file storage platform with blockchain auditing. It is simply a platform aiming to build decentralized cloud storage using blockchain. They aim to revolutionize the cloud computing sector and doing this with blockchain security. They are the first complete decentralized enterprise for cyber security and cloud storage.
WHY CRYPTYK
Right now, the cloud computing sector suffers some inefficiencies due to some factors like :
High cost due to monopoly (expensive).
Security.
Breach of data privacy due to centralization.
Vulnerability to viral threats/attacks.
The main problem of cloud security which CRYPTYK aims to solve is security and it will do that via blockchain technology; The perfect decentralisation option.
THE CRYPTYK PLATFORM
Cryptyk will be a unique hybrid platform. It will combine two amazing decentralized systems :
VAULT
SENTRY
Both are are decentralized platforms for cloud services.
This is a very secure decentralized multicloud file storage platform. The security is due to its user based encryption which reduces security threats. It is also a sharing platform as well.
Sentry ,on the other hand, is a decentralized blockchain auditing platform for auditing user access and for tracking file sharing. It runs these by leveraging a permanent immutable ledger. This feature guarantees maximum security since data can not be tampered with or altered in anyway.
HOW DOES IT WORK?
Understanding the concept and working of combining these two amazing decentralized solutions is really interesting.
Lets take VAULT FIRST...
First, files are uploaded and encrypted. Upon encryption, the files are spliced into N seperate shards (file is divided into smaller file portions, these small portions are termed shards). These shards then undergo encryption( a second one) and are stored across independent cloud storage providers. These shards have encryption keys which are normal security protocol. All N+1 encryption keys for every single individual file are stored on users personal devices and an offline backup server as well(Just in case users lose their device).
Now let's consider this...
Let's say, the security if the system wants to be exploited by a hacker(which occurs quite often). The hacker would have to actually break the security if the N cloud providers where the files are already across and break the N+1 encryption keys as well. That's very impossible. Because, just decrypting multiple files would take years for a quantum computer to do. Then think about hacking multiple users. It's quite useless and impossible. On understanding this, we see how interesting the vault system is and an efficient security solution as well.
How about an instance of malware or a virus upload to the system??
Funny enough,this won't affect the system in anyway. This is because the corrupted file would not execute due to the vault network not being an independent one. The network exists in N different pieces and places, hence the virus cannot execute.
SENTRY ON THE OTHER HAND...
Has audited record of file key sharing/permissions/maps/history. ID verification, group permissions and fingerprint security are among the tools to ensure added security.
The integration of Sentry into Cryptyk which enables verification, auditing and tracking if user access and file sharing would make it hard for users data to be breached.
THE CRYPTYK ECOSYSTEM
community of like-minded individuals made up if customers, developers investors and users who will collectively create, augment and operate the CRYPTYK platform.
THE CRYPTYK TOKEN
CRYPTYK will have a digital token called CRYPTYK TOKEN which will be used for :
1. Enabling the purchase and use if CRYPTYK products.
2. Funding the development of the CRYPTYK platform by Cryptyk Inc.
3. Incentivizing developers and alliance partners via the CRYPTYK foundation.
The Cryptyk Token Ecosystem
Cryptyk Tokens power an entire cyber-security ecosystem and incentivize participation from a community of enterprise customers, small-medium business customers, individual consumers, software development partners, crypto-currency miners and investors.
The tokens can be purchased with fiat currency or bitcoin and ethereum. They will be the fuel of the system and as the platform grows, it's demand will grow which will in turn drive their value up. The total supply is fixed at 750 million tokens.
HOW TO PURCHASE
The tokens are purchased by a token sale. Token sales are crowdfundings basically, but mainly for cryptocurrencies. They are used as a means of generating capital for companies. To participate in the token sale. Go to https://www.cryptyk.io
There are two types : Token pre-sale round and public token sale round.
In the first round, you will need to go through KYC verification and the minimum investment is $1500.
Meanwhile, in the public sale round, the minimum investment is $500 and the round is open to all non-accredited investors as well from outside USA and Canada.
CRYPTYK is developed by Cryptyk Inc. They are based in San Francisco, USA. In close proximity to the top guns in the blockchain sphere
For additional info.
Twitter
Telegram
LinkedIn
Facebook
YouTube
BitcoinTalk
Discord
FAQ