Memority Blockchain-Based Data Storage Ecosystem

MEMORITY – In recent years, cloud services such as Dropbox, Amazon S3, Google Drive and others have become increasingly popular. They allow you to get rid of the need to buy physical media to store a large amount of data, then the likes of millions of users from around the world.  Data storage is a task that every organization and company must solve.
Despite its rather high efficiency and popularity, the problems with traditional, i.e. centralized repositories, still exist. Here are some disadvantages of centralized storage:
User files are stored in one specific location, which increases the likelihood of them being lost, deleted, or viewed by third parties.
 Storing only one copy of a file increases the risk of losing stored data.
 Failure to recover stored copies of a file can result in data loss.
 The system can be exposed to an attack to overload the repositories with unnecessary data to anyone.
 Over time, the storage may be clogged with unnecessary data and the entire system will become useless.
 The use of traditional electronic money as a means of payment is dependent on a centralized financial system, the legal and technical features of which may change over time.
 Without encrypting files with a private key, which is stored only by the owner of the data, there is a technical possibility to gain access to these third parties.
 The presence of data on the ownership of files in the system creates additional risks for data preservation and for the data owner.  
However, the world does not stand still, the search for effective application of blockchain technology extends not only to the financial sector and all that is associated with it but also to areas such as distributed data storage.  Centralized services are replaced by decentralized ones, and it is in the sphere of distributed data storage that blockchain can change the situation drastically. 
Today I will tell you about the platform, for completely decentralized storage of valuable data on the blockchain, platform memority.

 Memority is a platform for fully decentralized Sverhbezopasnogo storage of valuable data on the blockchain, which ensures that multiple encrypted copies of data are permanently available on unrelated storage locations around the world.  Access to this data is only available to their owner, because when you create an account, the owner receives a private encryption key, without which access to the data can not be accessed. 
The mission of Memority is to create a self-sufficient ecosystem that includes many applications to meet the needs of businesses, government organizations and individuals in excess of safe storage of all kinds of valuable data. 
The Memority platform includes a collection of independent repositories from around the world that are based on users ‘ computers that share a memory of their hard drives to store files. To ensure a high degree of data security, 10 copies of each stored file are created, the integrity and authenticity of which is constantly checked. The system constantly checks the availability of all copies of files, the presence of hosters in the network, the date of download, size and hash files. During validation, a unique hash code is extracted from the random part of each file, which is compared between all partnered. If someone from Hosters has a different hash code, the file is considered modified or deleted, so hoster is excluded from the network of this file with a downgrade, and a new copy of the file is created at the next random hoster.
Data security is ensured by encrypting the file when it is loaded into the system by a private key, which is stored only by the data owner. You can also access the contents of the data only with a private key. 
Unique hash data identifiers are stored in the blockchain database, so it is impossible to delete files, fake them or fake information about file storage. 
Also, the ecosystem includes a memority API that allows third-party developers to create desktop and online applications for decentralized encrypted storage of different types of data without lengthy litigation in technical details Blockchain technology. Developers receive a 5% reward on all stored files downloaded through their applications. 
The Memority platform uses Proof of Authority technology, which makes computing power costs irrelevant for building blocks and will not grow over time. Their place is occupied by large holders of tokens, namely their authority, which they confirm the presence of a large number of tokens. Therefore, a limited number of tokens are issued, and miners will accrue Commission when paying for file storage. 
Features of memority system members: Data owner-can store data in encrypted form decentralized and absolutely safe, paying for storage by MMR tokens. It can also provide its own disk space for other users ‘ data, becoming hoster, and receiving tokens to pay for the stored data.  
Hoster-can receives MMR tokens for providing their disk space to memority platform users to store their data.  
Developer-will is able to implement their ideas and create their own applications, using the infrastructure memority, and getting tokens for it MMR. 
Miner-Receives rewards in the form of tokens MMR for supporting the performance blockchain its authority (miners can become only holders 10.000 and more tokens). 

Tags: #cryptocurrency #cryptonews #ico

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