MEMORITY PLATFORM REVIEW
The new platform is a blockchain based cloud storage platform. They state in their whitepaper that they plan to target both businesses and individual users.
Data security will obviously be enhanced as the only way to access the data will be with the users own private key.
The whole system will be decentralized, with users rewarded for helping to store content with the platforms new MMR tokens.
The Technical Aspect of Memority
When a user uploads a file for storage the system will allocate a 'hoster' to store the file for them, this selection process chooses a suitable candidate that has a fast connection, as well as giving preference to those who host their own files on the network.
The file is then encrypted and sent to the host for storage, the hoster is then compensated with MMR tokens.
MEMORITY 4 ENTITIES
1. Data Owner
2. Hoster
3. Third-party developers
4. Miner
Data Owner: is regarded to be an individual who can store his data on the memority system, encrypted and stored completely secured after paying for the space which he uses as storage with the platform currency (MMR tokens)
Hosters: these are individuals who willingly provide a portion of their disk space to serve as storage for data owners and later rewarded for their service with MMR tokens
Third-party developers: developers are given the chance to earn some tokens as well by creating applications and implementing their ideas using the infrastructure of Memority
Miners: these are individuals who supports the working capacity of their blockchain. users with 10,000 or more tokens are eligible to be miners.
Furthermore the platform will be operating on the basis of EVM (Ethereum Virtual Machine) and to as well increase the network speed and to efficiently maintain the network's performance adopted the a new algorithm called Proof Of Authority (POA)consensus.
SOME BENEFITS OF USING THIS PLATFORM
* for utmost protection from data loss,memority continuously check and restore multiple copies of each file.
* developers can actually earn using this platform by creating applications using memority infrastructure.
* Security is guarantee whereby files uploaded can only be accessed by the data owner as there are encrypted with a private key known only to the data owner.
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* The opportunity to store your data free of charge is possible by also rendering a portion of your storage space for other member of the platform to store their data.
ICO/ TOKEN DETAILS
Details below is just a highlight of the basic info about the ICO.
The Memority platform has its own token called MMR, but users will only be able to purchase the Ethereum based Token called EMT during the public sale. It will also be used as a reward system for miners on the platform. Once the platform launches, holders of EMT will be able to exchange it for MMR at a 1:1 ratio.
The token is being offered for sale between May 16th and October 1st, 2018. The official ICO begins on May 31st, with a pre-sale running through May, though it appears that the pre-sale is entirely open to the public. A total of 1,500,000,000 tokens have been created prior to the ICO, though only 57% of these are available to the public.
During the ICO, the base cost of tokens is $0.10 USD each, though it appears that a discount is available throughout the entire public sale; during the pre-ICO, buyers receive a 20% discount, and then the ICO is divided into three phases with 15%, 10%, and 5% reductions which last until its final day. Tokens can be bought using Ethereum, Bitcoin, Litecoin, and several fiat currencies.
The ICO does not appear to require any know-your-customer verification, which could put the company in a perilous position as certain jurisdictions become increasingly strict with cryptocurrency investing.
Token: EMT
Category: Data Storage
Platform: Ethereum
Total Supply: 1,500,000,000
PreICO Price: 1.2 EMT = 0.1 USD
Price: 1 EMT = 0.1 USD
Bonus: Available
MVP/Prototype: Available
Accepted Currencies: ETH, BTC, LTC, BCH, Fiat
Soft cap: 5,000,000 USD
Hard cap: 85,500,000 USD
Country: Estonia
Whitelist/KYC: KYC
Restricted areas USA, China, Japan, South Korea, Cuba, Iran, North Korea, Syria, Crimea.
Refer to the website to know better about the ICO.
Website: https://memority.io/
Whitepaper: https://memority.io/docs/whitepaper_memority.pdf
Facebook: https://www.facebook.com/mmority/
Twitter: https://twitter.com/frvrty
Telegram: https://t.me/memority
My bitcointalk profile URL: https://bitcointalk.org/index.php?action=profile;u=2014954
