MEMORITY: Blockchain-based platform for encrypted decentralized cloud storage of valuable data.
HarbordData security and long-term storage of data has been one of the weak points of various available storage platforms like Dropbox, Amazon S3, Google Drive, Fortknoxter, Storj, Sia.tech, and Filecoin, which has caused loss of files, forge of files and forge of information about storing files, thereby making the files data storage unreliable.
In other to improve on this, MEMORITY was created, which provides long-term, decentralized, anonymous, reliable data storage with encryption.
WHAT MEMORITY IS ALL ABOUT
MEMORITY: a blockchain-based platform for encrypted decentralized cloud storage of valuable data, with the mission to create a self-sufficient ecosystem that includes many applications to meet the needs of businesses, government organizations and individuals in the ultra-secure storage of all kinds of valuable data.
Memority ensures data security by encrypting the file when it is loaded into the system with a private key, and which can be accessed by this private key given to the owner while account is created.
Another phenomenal features of Memority is that data owner can provide space on his device, which allows him to store his data free of charge.
Memority API allows third-party developers to create desktop and online applications for decentralized encrypted storage of various types of data without a lengthy investigation into the technical details of blockchain technology. Developers are rewarded with 5% of payments for all stored files uploaded through their applications.
Miners receive MMR tokens reward for ensuring the system is operational. Between all the miners who participate in the creation of the block, 5% of the payment for all files, entries of which are contained in the block, is distributed.
REASONS FOR CREATING MEMORITY
1. For reliable and convenient way of storing data
2. For long-term storage of secure data, with protection from modification, deletion, or unpermitted viewing.
3. For data confidentiality and flexible, convenient access to the files.
AMAZING FEATURES OF MEMORITY
Memority provides many amazing features other data storage does not provide. The image below summarizes the features of Memority in comparison to other data storage systems.
OPPORTUNITIES RECEIVED BY THE SYSTEM PARTICIPANTS
1. Data owner - can store data in an encrypted form in a decentralized and completely secure manner, paying for the storage with MMR tokens. Also, he can provide his disk space for data of other users, becoming a hoster, and receive tokens to pay for the stored data.
2. Hoster - can receive MMR tokens for providing their disk space to users of the Memority platform to store their data.
3. Third-party developers - will be able to implement their ideas and create their own applications, using the infrastructure of Memority, and receiving MMR tokens for this.
4. Miner - receives rewards in the form of MMR tokens for supporting the working capacity of blockchain executing their authority (only 10,000 or more token owners can become miners).
MMR tokens are necessary for the functioning of the entire ecosystem.
HOW MMR TOKEN CAN BE OBTAINED
MMR token can be obtained by:
1. Providing space for data (hosting files of other participants).
2. Becoming an investor in the ICO process and exchanging purchased tokens to MMR
3. Becoming a miner;
4. Developing applications for Memority platform.
MEMORIRY SYSTEM OPERATION MECHANICS
How it works
Hosters provide a part of their computers’ memory to host files of other users using Memority application. The data owner uses Memority app to upload data to the system. He can download his files at any time using the same app. Those can be confidential documents, lists, files with personal information, etc. Due to the use of blockchain technology for storing unique file identifiers (hash codes), the downloaded data cannot be forged or modified.
Data security is ensured by encrypting the file when it is loaded into the system with a private 128-bit 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 and a password.
The decentralized mechanics of work used by Memority also offers an opportunity that centralized storage systems do not have. Regardless of what happens to the company or individual hosters, the data will be stored in the system.
Theoretically, files can be stored for hundreds of years. Compared to other services (especially centralized ones), our product provides much greater reliability.
ICO (INITIAL COIN OFFERING)
Start date of public Pre-ICO: May 16, 2018
End date of the public Pre-ICO: May 30, 2018
ICO start date: May 31, 2018
ICO end date: October 1, 2018
Starting price of the EMT token: 0.1 USD.
During Pre-ICO and ICO, the utility Ethereum-based Tokens EMT (Ethereum Memority Token) will only be available for purchase.
All EMTs that are exchanged to MMR will be automatically destroyed. The current number of EMT tokens is 1,500,000,000. 57% of all tokens are available for purchase during Pre-ICO and ICO, namely 855,000,000 tokens. Unsold tokens will be destroyed. Types of payment are accepted: Ethereum, VISA, MasterCard, Bitcoin, Bitcoin cash, Litecoin. The current number of MMR tokens is 1,500,000,000. Their number will correspond to the amount of EMT at the end of the ICO, so the same number of MMRs as the unsold EMTs will be destroyed. We will not sell MMR tokens, they can only be exchanged for purchased EMT at a rate of 1: 1.
Depending on the date of investment, the program provides for a number of bonuses: The Pre-ICO program allows the first investors to receive a reward of an additional 20% of the purchased EMT. This reward will be given only to those investors who purchase tokens from the pre-ICO dedicated pool: 60,000,000 MMR. All files, unsold during the Pre-ICO, will be added to the ICO reserve. The ICO program also allows investors to receive MMR bonus tokens. Investors who purchase tokens from August 1 to August 31 - a 5% bonus. No bonus are presupposed for purchases made after August 31.
Eligible participants: All countries except Citizens of the United States, China (except Hong Kong, Macau and Taiwan), South Korea, Cuba, Iran, North Korea, Syria and the Crimean region.
ALLOCATION OF MMR TOKENS
All MMR tokens will be allocated as follows:
• In exchange for EMT tokens sold on an open presale is 4% of tokens (60,000,000 MMR)
• In exchange for EMT tokens sold during ICO - 53% of tokens (795,000,000 MMR) Remuneration to the team with a ban on sale during the year - 15% of tokens (225,000,000 MMR)
• Rewards to early investors with a ban on sale for 6 months - 15% of tokens (225,000,000 MMR)
• The reserve fund of tokens - 10% of tokens (150,000,000 MMR)
• Bounty campaign - 2% of tokens (30,000,000 MMR)
• Additional remuneration to early miners - 1% of tokens (15,000,000 MMR) The campaign is considered successful after collection of 5,000,000 USD.
Note: If the goal is not achieved, the funds will be returned to investors.
INVESTING IN MMR TOKEN
The profitability of investments in MMR tokens can be provided by two main factors:
1. Miners get a constant share of tokens from all storage payments in the system.
2. The growth of token value, which is a result of interest in the product by users, developers and miners.
Only a holder of 10,000 or more tokens can become a miner. The status of the miner allows you to get a portion of 0.5% of the total number of tokens paid for data storage.
AN EXCLUSIVE OPPORTUNITY OF MINING FOR LARGE OWNERS OF TOKENS
The bonus reserve will be divided into 10 consecutive portions of 1.5 million tokens each as follows:
• 1.5 million tokens - to the first miners as additional 5% (rewards 2 times higher)
• 1.5 million tokens - early miners as additional 4.5% (1.9 times higher rewards)
• 1.5 million tokens - early miners as additional 4% (rewards 1.8 times higher)
• 1.5 million tokens - early miners as additional 3.5% (rewards 1.7 times higher)
• 1.5 million tokens - early miners as additional 3% (rewards 1.6 times higher)
• 1.5 million tokens - early miners as additional 2.5% (rewards 1.5 times higher)
• 1.5 million tokens - early miners as additional 2% (rewards 1.4 times higher)
• 1.5 million tokens - to early miners as additional 1.5% (rewards 1.3 times higher)
• 1.5 million tokens - early miners as additional 1% (rewards 1.2 times higher)
• 1.5 million Tokens - early miners as additional 0.5% (rewards 1.1 times higher).
THE LEGAL BASIS OF THE SYSTEM OPERATION
The company involved in the development of the project is registered and regulated by the legislation of Estonia:
Registry code: 14453811
Name: Memority OÜ
Legal form: Private limited company
Address: Harju maakond, Tallinn, Kesklinna linnaosa, Parda tn 4-411-1, 10151
For more info:
Website: https://memority.io/
ANN Topic: https://bitcointalk.org/index.php?topic=3952669
Whitepaper: https://memority.io/docs/whitepaper_memority.pdf
Telegram: https://t.me/memority
AUTHOR
Bitcointalk username: Harbord
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