Datadobi

Memority Secures Storage on Blockchain

Ensures availability of several encrypted copies of data on unrelated storage locations around world.
This is a Press Release edited by StorageNewsletter.com on 2018.06.13

Memority is the platform for a decentralized, secure storage of valuable data on the blockchain, which ensures the continued availability of several encrypted copies of data on unrelated storage locations around the world.

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Data encrypted with private key
No one except the owner can physically view the contents of the files, because they are encrypted with a private key, which is stored only by the data owner.

Data protected from accidental deletion
The system always stores multiple copies of data (default is 10), the monitoring system will periodically check their availability and creates new copies in other stores in case of insufficient number of duplicates.

Data protected from forgery
Unique data identifiers are stored in the blockchain database, the system regularly searches for fakes and restores the correct number of copies with genuine data if files have been forged

System is self-contained and independent storage, the process of files copies monitoring and recovering, data encryption and validation for authenticity are decentralized, there is no dependence on any centralized systems.

Blockchain-based storage ecosystem
The company's mission is to create a self-sufficient ecosystem that includes applications to meet the needs of businesses, government organizations and individuals in secure storage of valuable data.

The firm’s API allows third-party developers to create desktop and online apps for decentralized encrypted storage of various types of data without a lengthy investigation into technical details of the blockchain technology. Developers of such applications are rewarded with part of all storage payments for files that were uploaded with their apps.

Why Memority?:

  • File encryption: Files are encrypted with a private key that only their owner has.

  • Decentralized storage: The system supports storage of 10 file copies in independent storage.

  • Protection from data forgery: Decentralized monitoring systems check data availability and authenticity.

  • Motivation of all participants: Payments for storage are distributed between hosters, app developers.

  • Proof of authority mining: Mining technology does not require pricey equipment.

  • API for applications development: Third-party developers can create applications for storage on the company's platform.

Alpha version of the application is ready.

Owners of 10,000 or more MMR tokens receive an opportunity to earn MMR tokens through mining without the need of expensive computing equipment (Proof of Authority mining).

Resource:
Decentralized cloud storage of valuable data on Blockhain WP

 

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