Memority

Memority
ICO date: 31.05.2018 - 01.10.2018
Industry: Data storage
Description:

Memority seeks to create a revolution in the industry of data storage, offering more security than any other company. Owners of 10,000 and more tokens get access to Proof of Authority mining, no expensive equipment required.

Alpha version of the app is live, the soft cap is nearly met.

How it works:

Memority offers a data storage platform, taking this service to a new level. It makes it cheaper and more secure.

All data is stored in the form of several, a minimum of ten, encrypted copies in unrelated storage locations around the world. Users who provide storage for the files receive payments from those who store their data. If you act as a host yourself, you can store your files free of charge.

Having multiple copies protects data from accidental deletion and prevents a situation where the data is lost when a node that hosts it exits the system. The system always checks availability of more than ten copies and creates new if some were deleted. This allows Memority to store files virtually forever, even without outside management.

Data is protected by a unique key that only the data holder has. The process of encryption, validation and authentication is decentralized, so not centralized authority has access to it.

Memority encourages third-party developers to make apps on their platform to create an ecosystem of data storage applications. It provides an API and offers monetary reward in the form of a part of the income the platform receives from payments made for data downloaded with these apps.

Token holders who have more than 10,000 tokens on their account can participate in Proof of Authority. This is not mining in the regular sense of the word, as no new tokens are created. These “miners” just receive a mining fee, 5% of the payment for all the files that are stored in the block they created.

Innovation:

Even though Memority is not the first blockchain data storage, it outperforms its rivals in terms of security. Storing multiple copies of a file and creating an ecosystem of applications to enhance the network of hosts and users differentiates this startup from its competitors.

Innovation score: High

Token value:

MMR is a utility token for the platform. Payments for hosting data are done in MMR exclusively, and shared among the company, data hosts, miners and developers of apps. With lots of people using MMR tokens, a rise in price is guaranteed when the platform acquires users.

MMR holders who have more than 10,000 tokens on their account can receive rewards for mining that doesn’t involve big computing power. Participation in mining is automatic, doesn’t overcharge the user’s system and provides them with a source of stable income.

Token value score: High

White paper:

The white paper explains the concept of the Memority ecosystem and the mechanics behind it, describing an algorithm of actions for each participant of the platform. It presents different models of revenue for ICO participants and a financial plan. Comparison with competitors is presented on the site.

White paper score: High

Roadmap:

Development of the platform started back in 2016. Right now the team has an alpha version of the software and has collected feedback from the early users. Beta version of the software is going to be released in July 2018. The rest of the year is planned for system optimisation. In March 2019 Memority will release v.1.0 of the platform.

Roadmap score: High

Business model:

Memority’s aim is to make a truly decentralised platform, managed by its users. The company will charge 5% fee from all payments for data storage, but with time a bigger and bigger part of this fee is going to be distributed among third party app developers, whose software is used for uploading files. After the platform goes fully decentralised, the team is going to reap profits in the form of owning tokens and mining, just as the regular users.

Business model score: High

Team:

The company’s CEO has been an entrepreneur since 2013. CTO has been working as web developer since 2005. Having a background in sociological research, head of marketing has been in the business for 8 years, and has moved up to the position of Head of Business Development in one company, working in highly competitive industries. PR lead, however, is fresh out of college.

The сompany’s business advisor is an owner of a design studio in Eastern Europe. Financial advisor also advises for a CEO of one of the largest banks in Ukraine. Business development advisor has vast experience in the banking sector. He was working for banks in Eastern Europe, inventing new ways of sales for them.

Team score: High

Competitors:

Memority lists Dropbox, Amazon S3, Google Drive, FortKnoxter, Storj, Sia, Filecoin as its competitors. We would add Market.space  to the list. Memority outperforms centralized storages in security and provides a better use of blockchain than the decentralized options. However, Memory.space has a way better team than Memority.

Competitors score: High

Overall thoughts:

Memority’s main concept is better than those of its competitors, it has a great business model and MMR token creates an opportunity for stable long term income. However, the company’s team is far from being perfect.

All things considered, MMR can be a good investment, despite its flaws.

Website: memority.io
Whitepaper: Whitepaper

Overall Score

High

4.5 / 5

Risk score

Medium

Crowdsale


ICO

ICO start date: 31.05.2018
ICO end date: 01.10.2018
Soft cap: 5,000,000 USD
Hard cap: 85,500,000 USD

TOKEN DETAILS

Ticker: MMR
Token price in USD: 0.1
Bonus Program:

15% 31/05/2018 – 30/06/2018

10% 1/07/2018 – 31/07/2018

5% 1/08/2018 – 31/08/2018

Legal


ICO Platform: No
Country Limitations: United States,China (except Hong Kong, Macau and Taiwan), South Korea, Cuba, Iran, North Korea, Syria and the Crimea region
Registration Country: Estonia