Introduction
With the world becoming ‘digitized’ at an ever-increasing rate, reliance on cloud computing and storage has sky-rocketed. With this, of course, has come a surge in cyber-attacks directed at centralized servers that hold untold amounts of private, sensitive data. Cryptyk is aiming to make use of blockchain technology to help tip the scales back toward enterprises and customers alike, who are seemingly as prone as ever to having their stored data compromised.
Cryptyk is in the business of delivering small business clients an easy-to-use cloud storage system that concurrently saves them costs linked to cyber security. They hope to achieve this by building the world’s first complete cyber security and cloud storage solution from a single vendor.
What is Cryptyk?
Cryptyk is an enterprise cloud storage and security platform made distinguishable by its never-before-seen technology that has been built on two separate decentralized platforms, VAULT and SENTRY.
The purpose of the VAULT platform is to partition files into encrypted shards that go on to be distributed across five independent cloud storage providers. The SENTRY platform, on the other hand, makes use of blockchain technology to establish an interface with VAULT; allowing it to track and monitor all user access and file activity.
As a duo, the VAULT and SENTRY platform make for a unique hybrid blockchain technology that functions as a unified vendor cyber-security solution capable of combating the five major threats currently plaguing the enterprise cloud storage industry (see: page 2 of the Cryptyk whitepaper).
Project information
Cryptyk is building the world’s most complete cyber security and cloud storage platform. Instead of trying to prevent data security breaches, Cryptyk assumes hacks are inevitable and makes files effectively ‘safe to hack’. Cryptyk’s Hybrid Blockchain Technology integrates encrypted decentralized file storage with blockchain auditing and monitoring. This hybrid solution effectively mitigates against the five major threats to cloud security. It is the first complete cyber-security and cloud storage solution from a single vendor and dramatically reduces the cost and complexity of cyber-security for all enterprise.
Cryptyk has developed a revolutionary new approach to cyber-security and cloud storage. Instead of trying to prevent data security breaches, Cryptyk assumes hacks are inevitable and makes files effectively ‘safe to hack’. The ultimate goal is to take the profit out of hacking and the risk out of the cloud. Cryptyk’s new Hybrid Blockchain Technology is based on the integration of encrypted decentralized file storage with blockchain auditing and monitoring. This hybrid solution is passively immune to external, viral and operational security threats, and also allows network administrators to protect against potential internal and surveillance threats. It is the first complete cyber-security and cloud storage solution from a single vendor, and dramatically reduces the cost of cyber-security for all business and enterprise. “We are building the world’s most secure cloud security and storage system”, said Cryptyk CEO, Dr. Adam Weigold. “but more importantly we are also creating a whole new crypto-economy and ecosystem for the cyber-security market” he added. At the heart of the Cryptyk platform is the Cryptyk Token (CTK), which drives an open-source cyber-security ecosystem consisting of 3rd party app developers, strategic enterprise customers, crypto-currency miners and investors. The Cryptyk Token is a true utility token that offers scalable benefits to all participants. Long term growth in CTK value will be directly driven by customer adoption and product use, rather than short-term market sentiment. Consequently, utility tokens offer investors greater potential for long term growth and less market volatility compared to the more common security tokens. Token sale participants are investing directly in a product and its self-propagating ecosystem, rather than buying equity in the company. The Cryptyk Team comprises of veteran cyber security, cloud storage and blockchain experts. The founders include CEO, Dr. Adam Weigold, a quantum physicist and veteran of 6 tech startups, and CTO, Raghu Kotha, a well-known white-hat hacker, cyber security expert, and former director of security at Silicon Valley Bank. The funds raised in USD, Bitcoin and Ethereum will be used by Cryptyk Inc. for product development and sales. A minimum raise of US$3 million is required to deploy the crypto-currency ecosystem with a maximum raise capped at US$25 million. The pre-sale round for accredited investors commences on February 08, 2018 at 5pm UTC. The pre-sale round is priced at a 20% discounted price of 10 cents per CTK token. The public sale round for non-accredited investors commences on March 08, 2018 at 5pm UTC, and is priced at 12.5 cents a token. Note that only 750 million tokens will ever be created and released into the market.
Cryptyk Token Details
Ticker (Token Type): CTK (ERC-20)
Pre-ICO Price: 1 CTK = US$0.10 (Min. investment = $5,000)
Pre-ICO Round Dates: February 8 – July 6
ICO Price: 1 CTK = $0.125 (Min. investment = $500)
Public ICO Dates: July 18 – August 31
Accepting: ETH, BTC, USD
Hardcap (Softcap): $28,000,000 ($3,000,000)
Total Tokens (Available for Token Sale %): 750,000,000 (33.3%)
Whitelist: KYC
Restricted: United States, Brazil, China, Canada
Roadmap
Encouragingly, the team at Cryptyk is deep into their roadmap. Let’s see what they have achieved thus far, and which milestones they are currently working towards.
4Q15
Received $250,000 in angel investments
2016
Prototype design and development
2Q17
Prototype testing and analysis
4Q17
Product design and whitepaper publication
1Q18
CTK token sale event
2Q18
Blockchain design implementation
1Q19
Product build and alliance trials
2Q19
Final product launch
Team
The team comprising Cryptyk is nothing short of exceptional; with experts in the areas of cyber security, cloud storage, and blockchain technology.
The founders behind Cryptyk include Dr. Adam Weigold (CEO) – a quantum physicist and veteran of six tech startups – and Raghu Kotha (CTO) – a prominent white-hat hacker, cyber security expert, and former director of security at Silicon Valley Bank.
The other core team members of Cryptyk Inc. are Dennis McMasters (Chief Architect), Mihkel Trink (Software Developer), Dr. Daniel Floreani (Enterprise Customer Solutions), Indra Singhal (COO & Director), and Luke Lombe (Investor Relations Advisor).
Advisors to Cryptyk are many and feature some noteworthy names such as Bradley Rotter (Crypto/Cyber Evangelist), Sead Muftic, Ph.D. (Blockchain Expert), Robert Bender (Fintech Specialist), and Ian Scarffe (Blockchain & Crypto Expert).
As for affiliates, Cryptyk has already landed two strategic partners (i.e., IBM and Ambisafe), three foundation members (i.e., BankVault, Design SHIFT, and Founders Federal Credit Union), and one development partner (i.e., hyperFIELD).
Company Structure
The Cryptyk Foundation is a non-profit headquartered in Adelaide, Australia. Responsible for one-third of all CTKs created, the Foundation will be focussed on growing the Cryptyk community globally. They plan to open offices in New York (USA) and Zug (Switzerland), and should not be confirmed with the San Francisco-based Cryptyk Inc. (i.e., the developer of the Cryptyk platform).
Conclusion
Making use of a hybrid blockchain technology and a self-propagating ecosystem powered by the CTK virtual token, there is no denying that Cryptyk have thought up an all new approach to cyber-security and cloud storage.
Moreover, Cryptyk, along with its CTK utility token, is pioneering a whole new crypto-economy and ecosystem for the cyber-security market. Should the experienced team execute, there is every chance that Cryptyk will be remembered as a revolutionary project in years to come.
You can find out more about the Cryptyk platform and the CTK token sale on their official website.
Disclaimer: The content of this article should not be taken as investment advice. CryptocoinSpy does not endorse any product on this page and although we aim to issue our audience with the most important information available all readers should complete their own research.
The main sale event of this project was ended 61 ago. The start date of the campaign was 26 September 2018 and the end date was 31 October 2018 with total amount of 250000000 tokens planned to be sold.
During the crowdfunding the price for 1 token was 1 CTK = 0.125 USD. Cryptyk ICO prediction algorithm is showing that the price of 1 CTK could move up +0.123212% once Cryptyk is listed on exchanges when compared to the issue price during the token sale. This forecast is based on the same analysis calculated from “Big Data” category and located in United States finished campaigns.
CTK is a ERC 20 standard token, which is built on the Ethereum platform. As for the funding goals, they were trying to raise 3,000,000 USD for a Soft cap and 28,000,000 USD for a Hard cap.
For more information about the CTK Token Sale, please visit www.cryptyk.io
Donate ETH : 0xcbb74e8eabcd36b160d1fc3bed7bc6e52d327632