Cryptyk ICO Review

CRYPTYK has taken the liberty to establish a decentralized cloud storage network on the blockchain. With the incorporation of hybrid technology, the blockchain platform wants to take out the risks involved with cloud storage. The hybrid solution will build a secure cloud security and storage ecosystem with its CRYPTYK Tokens the coin for the platform.

That makes the project one of the first security vendor to offer a blockchain cloud solution. That is in line with the project's goal to eliminate the five major threats that face cloud storage security which include operational, external, internal, viral and surveillance risks.

Product

Cryptyk aims to target enterprise users and small businesses that enjoy the ease of use and convenience of cloud storage while reducing costs associated with cyber security. Cryptyk claims that compared to its competitors in the blockchain ecosystem (Sia, Filecoin, Storj), it will be able to provide low latency access for its users which would be comparable to conventional cloud storage services (200 milliseconds). However, Cryptyk states that it is compromising decentralization in order to reduce latency. They will “compromise between minimal attack surface and low latency is for a node number around 5 storage nodes”, compared to its competitors, such as Filecoin with 20-50 nodes and BTC/ETH with thousands of nodes.

Blockchain

For the time being, CTK follows the ERC20 token protocol, although the information memorandum states that the final product may be built on top of a different blockchain protocol. The company is currently looking into at least 5 potential candidates with regard to consensus design implementation. The need to have a custom token is clear, as CTK will be used to perform major operations within the Cryptyk ecosystem. It is stated that the value of CTK will grow directly with respect to the revenue of Cryptyk, regardless of market sentiment.

Token info

Token: CTK

Platform: Ethereum

Type: ERC 20

PreICO price: 1 CTK = 0.10 USD

Price in ICO: 1 CTK = 0.125 USD

BONUS: 10% bonus in first week of Pre Sale 10% bonus in first week of Public Sale 5% bonus in second week of Public Sale

Tokens for sale: 250,000,000

Investment info

Min. investment: 50,000 USD; 5 BTC; 50 ETH

Accepting: ETH, BTC, USD

Distributed in ICO: 33%