Why Cryptyk is Worth Keeping an Eye On This 2018
If you were using the Amazon Drive cloud storage plan in 2017, then you’re probably no stranger to the monopoly and monolithic power exercised by traditional cloud storage platforms – a do what we want, when we want mentality.
Modern day centralized cloud storage backs users into a corner of commissioned trust, left with few affordable (or actually secure) options while hanging onto no more than a thread of hope, a hope that whichever cloud storage provider they go with doesn’t choose to discontinue service or drastically overhaul services and terms.
Cue Cryptyk, a decentralized cloud storage ‘David’ poised to strike against present day centralized, unsecure, amenable, and expensive cloud storage ‘Goliaths’.
Below is a short project breakdown of what Cryptyk is, what it’s striving to overhaul, and why you should be keeping an eye on Cryptyk this 2018.
Table of Contents
Cryptyk Project Breakdown
Targeting the $150 billion cyber-security industry in hopes of reducing and remedying the $1 trillion lost to cyber-crime annually, Cryptyk is an encrypted, hybrid decentralized cloud storage and management platform backed by an immutable blockchain ledger, providing:
- Online data storage,
- File sharing,
- User access,
- Document editing,
- Email, &
- Numerous cloud-based enterprise applications.
Cryptyk’s first layer and platform – “Vault” – encrypts and divides every data file being stored into five separate pieces, encrypts it a second time, and finally, distributes it across 5 of the major cloud storage providers in the space (Google, IBM, Amazon, Box, & Rackspace).
Note that their “Vault” is just the first layer. And, unlike other decentralized data storage platforms in the modern crypto-sphere, which primarily aim to provide affordable and secure data storage marketplaces, Cryptyk is taking it one step further – incorporating a decentralized auditing, tracking, and monitoring platform “Sentry” into the mix – ultimately, creating an entire cyber-security ecosystem.
ICO Details
As of date of publish, Cryptyk is in the process of reinventing the cybersecurity and data storage wheel, and they need to raise funds to do so.
Their Pre-Sale round still open until the 18th of September and the Public Sale for Non-US investors Round opens on September 26, lasting until October 31. So far, during the Pre-Sale rounds Cryptyk has already raised over USD $7 million dollars, or over twice its minimum target.
Finally, note that the Pre-Sale offers a 20% discounted price for CTK tokens, and is priced at US $.10.
You can find further details about their Pre-Sale and ICO over at their website.
Closing Thoughts
In an ever-increasingly online world, Cryptyk is building itself as a new approach to cyber-security and cloud storage that “protects against all 5 main threats to cloud security (external, interval, viral, operational, and surveillance threats).” Whereas traditionally cyber security aims for the prevention of cyber-attacks altogether, Cryptyk approaches them as inevitable and thus aims to take the profit out of them by essentially making their files “safe to hack.”
Furthermore, Cryptyk Tokens (CTK) power the technology behind the project and offer “scalable benefits” to all participants.
Cyber threats remain one of the most vital threats to not only people’s personal information and potentially have the ability to topple an entire nation;s infrastructure. Recently following cyber attacks against businesses in Singapore, the Singaporean Prime Minister released a statement essentially concluding that all organizations must accept the inevitability of breaches at some point. This is the same approach towards cyber security that Cryptyk has, and this attitude may soon become the norm, as it is evident that the world will keep progressing technologically and regression is not an option.
If you’d like to check out Cryptyk and how it’s overhauling cybersecurity and decentralized storage in the blockchain (and non-blockchain) ecosystem, head on over to their website and check out their white papers (both business and technical). And for any questions not answered in this piece, you can find a comprehensive FAQ at https://www.cryptyk.io/faq/.
Finally, if you’re looking to interact with the Cryptyk community and team and ask any questions you have about the project, head on over to their Telegram, YouTube, Discord, and Twitter.