The Cryptyk Token – the new digital crypto-currency for cyber-security

The Cryptyk Token (or CTK Token) is the new digital crypto-currency for cyber-security and cloud storage applications. It enables enterprises, businesses and individuals to purchase cloud security and storage services from Cryptyk Inc. These customer purchases drive the CRYPTYK hybrid blockchain engine and fuel the resultant CTK crypto-economy. The hybrid blockchain engine securely stores confidential files, controls user access, tracks file sharing between users, and encrypts all stored data and network communications. These security services or transactions are authenticated and processed by a consensus of crypto-currency miners on a blockchain platform, who also get paid for their services in CTK tokens. The CTK token is a “utility” token whose long-term growth in value is driven much more by customer transactions than by investor market sentiment. Nonetheless the CTK is the first utility to meet SEC requirements for securities. The CRYPTYK platform and the associated CTK crypto-economy is the first complete, cost-effective cyber-security and cloud storage solution that can be used by individuals, businesses and enterprises alike. It has the potential to revolutionize the global cyber-security industry by eliminating the profit from hacking, and removing risk from the cloud. The CTK economy is structured with multiple incentives for all participants including customers, developers, miners and token sale investors.

Cryptyk Foundation and Global Community

The global Cryptyk community is a critical component of the entire CTK ecosystem and economy. For any permissioned blockchain technology to grow into a widely used open-source platform, it must correctly incentivize both customers and developers to use its crypto-currency. For this reason, one-third of all CTK tokens created (or 250,000,000 CTKs) are to be managed by the non-profit Cryptyk Foundation for the incentivization of customers and developers to participate in the CTK economy. The primary function of the Cryptyk Foundation is to grow the Cryptyk community globally and hold regular membership events to promote the CRYPTYK open source platform to both customers and developers.

PROBLEM

Enterprises are increasingly moving from on-premise storage to cloud storage because of greater user mobility and real-time collaboration applications. However, the biggest risk and largest cost involved in migrating a business to the cloud is in cyber-security. For every $1 spent on cloud storage $4 is spent on security to protect the storage. However, for every $4 spent on cyber-security around $25 is still lost to cybercrime. Despite the best efforts of the $150 Billion cybersecurity industry, losses to cyber-crime are now approaching $1 Trillion annually.

SOLUTION

In contrast to conventional centralized enterprise storage and security solutions, CRYPTYK leverages the inherent security of two decentralized platforms. VAULT is a decentralized cloud storage platform that first encrypts every file, divides each encrypted file into 5 separate pieces, encrypts each piece a second time, and then separately stores each piece on 5 of the major independent cloud storage providers (eg: Google, Amazon, IBM, Rackspace, Box). This storage architecture is passively immune to external security threats, viral and malware threats, and operational threats such as DDoS attacks on the storage providers. And unlike blockchain storage platforms with > 20 second access latencies (eg: Filecoin, Storj, Sia), VAULT has a tested access latency < 200msec so is suitable for real-time collaborative applications such as live editing. SENTRY is a decentralized blockchain auditing platform that acts as an enterprise security manager for network administrators. All user access and file sharing events are recorded on a permanent immutable blockchain ledger for monitoring. analysis and tracking. SENTRY offers the enterprise protection against potential internal security threats and surveillance threats.

 

Source: youtube/ Cryptyk Inc


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