Memority - secure decentralized data storage on blockchain

semensichev (28)in #ico • 6 years ago

OVERVIEW

Altogether for data storage, blockchain and decentralization give colossal advantages and an unmistakable answer for progressing security issues. For instance, a noteworthy rupture at credit revealing organization Equifax a year ago uncovered the individual data of in excess of 145 million people to unapproved outsiders.

Today, in the brought together universe of distributed storage, the tremendous databases of driving multinational ventures act like reference points for programmers hoping to get to buyer data for criminal exercises. This kind of unreliable data storage isn't just very defenseless yet in addition absolutely superfluous.

The significant point to note is that decentralised data storage, as demonstrated in blockchains, completely mitigates the issues of hacks or power shortages that affect centralised databases. This is because decentralisation and distribution mean that, if a single node is compromised or goes down, the network can continue to update and operate. In fact, for this sort of data storage architecture to even be at risk of failure, you would have to imagine an act of God on a global scale. This what MEMORITY is all about.

What is Memority?
Memority is the team of programmers, blockchain developers, legal and marketing departments. We are developing revolutionary new technologies in data storage field. For more than half a year our team has been working on the development of the Memority platform to help people and companies around the world keep their data entirely safe.
Memority is a blockchain-based platform for encrypted decentralized storage of valuable data. The system automatically keeps 10 files copies in independent storages all over the world at all time. Files are encrypted with a private key that only their owner has. Memority employs the same data protection technology as used in blockchain-based wallets.

The purpose of Memority is the safe and secure data storage for businesses, government organizations and individuals. 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 will be 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 Platform
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.

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.

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.