Cryptyk is building the world’s first complete cyber-security and cloud storage solution from a single vendor. Utilizing Hybrid Blockchain Technology, Cryptyk is the first security and storage solution that protects against all five major security threats to the cloud (external, internal, viral, operational and surveillance threats). For the deployment of this decentralized technology, Cryptyk has created the Cryptyk Token (CTK) as the new digital currency to power an entirely independent cloud security and storage economy. VAULT is Cryptyk’s decentralized cloud storage and file sharing platform. SENTRY is Cryptyk’s blockchain auditing platform. This acts as an extra layer of decentralized security surrounding VAULT by controlling all user access and tracking file sharing and communications. The addition of AI monitoring of the blockchain will yield a revolution in predictive technology to counter all internal security threats.
Token & ICO information
Cryptyk token (CTK) is ERC-20 utility token, which will be the “fuel” to power Cryptyk platform. Companies will have to pay in CTKs in order to use the services provided by Cryptyk. On the other hand, CTKs will be rewarded to open-source developers who develop APIs for third-party software integration. It is clear the the value of the CTK will grow when more companies adopt Cryptyk’s solution.
Management team has four-year vesting period for tokens distributed to them (33% of total issue), impressive list of strategic and advisory partners (IBM, Ambisafe), seasoned management team with both business and technology experience required to successfully deliver project, leverages the security of blockchain technology to address cyber security and hacking, which is as much of an issue for businesses and organizations as it has ever been.
- ICO Timeframe: 02/08/18 – 04/28/18 (PreSale & ICO)
- Soft cap: 3,000,000$
- Hard cap: 25,000,000$
- Total supply: 750,000,000
- Available for token sale: 250,000,000 (33.3%)
- Token price: 0.10 USD during pre-sale, 0.125 USD during public sale
- Market cap: Around 30M
Offering deep discounts (35% for large block trades >$100,000), structure of presale, which requires >$25k to participate, may encourage “pump and dump” trading once tokens are listed on exchanges.
Two complementary decentralized platforms of Cryptyk
- VAULT: a decentralized multi-cloud storage with encryption. When you upload your files to VAULT, each file is first encrypted, split into 5 different portions (shards), encrypted again, and then stored separately on 5 different cloud storages by different providers. You can imagine the level of security of this way of storing files. A hacker will have to hack into the system of major cloud providers, decipher the encrypted shards and reconstitute the original files.
- SENTRY: a blockchain auditing platform. The VAULT can prevent hackers from the “outside”, but it will be useless if an employee goes rogue. Using the immutability of blockchain, SENTRY can monitor all user access and track all file-sharing activities. Furthermore, SENTRY is an open-source platform that can be integrated into third-party software products.
For a more comprehensive view regarding the technology, you guys can have a look at their whitepaper. They also have an information memorandum, which is not as detailed as the whitepaper , but it is enough to have a global understanding of the whole project.
Team members, advisors and partnershipof Cryptyk
There are 8 members and 12 advisors listed on their website.
The CEO, Dr. Adam Weigold is a serial entrepreneur who has created 6 startups (1 IPO, 2 public acquisitions). The CTO, Raghunadha Kotha, is a white-hat hacker and he previously was the Head of Information Security at Silicon Valley Bank. They also have Jen Peng, who was the former Executive Director of Morgan Stanley Hong Kong.
At the side of advisors, they have Ian Scarffe who is one of the Top 10 Blockchain Expert on ICObench. There are also some very interesting things for speculation here. Gabriel Avila is one of the investors of Cryptyk and he is the technical account manager at Amazon Web Services. Not to mention Lina Parness, the Director of Global Partners and Alliances at Logitech, and Kristin Kelly who is in charge of the IBM Partner Development. Cryptyk has certainly a very strong team and we can believe that they will be able to develop the most secure decentralized cloud-storage platform.
Besides IBM, Cryptyk has also partnered with Ambisafe. Ambisafe will help Cryptyk to create and manage their CTK tokens. Design SHIFT is the first company to bring a banking level of hardware security. Both of them share the same vision and they are working together to provide the best hardware and software solution to the world. The last partnership is with Founders Federal Credit Union, whose CTO is one of the advisors of Cryptyk. Founders will be offered free tokens to trial the prototype platform.
Roadmap
I like Cryptyk a lot and I think that it is one of the most promising project now. I can see the growth of CTKs once the platform is ready in Q1 2019 and Cryptyk starts to generate revenues.
You can visit more details at here:
Website: https://www.cryptyk.io/
Whitepaper: https://www.cryptyk.io/wp-content/uploads/2018/01/Cryptyk-Technology-White-Paper.pdf
Telegram: https://t.me/cryptyk
Author
Email: [email protected]
Bitcointalk username: kimdung1709
Bitcointalk url profile: https://bitcointalk.org/index.php?action=profile;u=2296878
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