Blockchain technology and cryptocurrencies have introduced a revolution for the data and information age but at the same time have brought a new wave of digital crime to the world.
Within a nascent sector such as that spawned by Bitcoin and the myriad of virtual currencies that followed, the need for data security has become more paramount than ever. Seldom a day goes by when the news isn’t filled with stories of the latest data breach or digital information leak.
Decentralized ledger technology (DLT), the basis for blockchain, has shown incredible promise in solving many of the problems presented by online data theft but continues to be plagued by fake companies and dishonest operators. The need for verifiable, provenly-secure online cloud storage is now more pertinent than ever.
The Cryptyk Cloud Storage Solution
Cryptyk is a new offering that aims to solve the problem of trust and incorruptible data security within the seemingly wild-west environment of online data storage. The technology uses an impressively complex hybrid solution that incorporates multiple layers of security to guarantee peace of mind for its customers.
The team behind Cryptyk approached the problem from a different angle by recognizing that even complex encryption protocols were not enough to keep hackers at bay. In order to ensure that data stored within its cloud environment is entirely inaccessible, Cryptyk disseminates the data in a way which is useless to any potential thieves if stolen.
To do this, the masterminds that developed Cryptyk’s proprietary online data solution decided to incorporate multiple trustworthy cloud storage platforms into its system. By splitting sensitive data files into many individual ‘shards’ and securely storing each one on separate data centers around the world, the Cryptyk system ensures both privacy and redundancy.
In practice, this system basically means that if any individual storage facility is hacked, no useful information will be compromised. In order to piece together any useful data, hackers would need to not only hack multiple separate and highly secure facilities but also successfully decrypt the data stored on each. Statistically, the likelihood of even the most advanced hackers achieving such a feat is infinitesimally small.
The Cryptyk Technology
Built upon Ethereum’s ERC-20 protocol, Cryptyk benefits from one of the most advanced smart-contract enabled blockchain platforms available. In addition to this, it utilizes a carefully balanced node disparency system in order to ensure low latency and high access speeds for customers. This compromise overcomes several issues often associated with blockchain-based cloud storage solutions that suffer from severely limited access speeds due to unnecessarily expansive node decentralization.
In addition to its data storage capabilities, Cryptyk incorporates a native CTK cryptocurrency token to facilitate operations on the network and provide added value to investors and customers alike.
Moving forward, Cryptyk plans to further develop its protocol within a blockchain network that offers an improved consensus algorithm.
The post Cryptyk – Trustworthy Data Security in the Age of Information appeared first on Cryptocoin Spy.
