Feb 13, 2018
Cryptyk is building the world’s most complete cyber security and storage platform.
For every dollar spent on cloud storage, 4 dollars is spent on cyber security. For every dollar spent on cyber security, 6 dollars is lost to cyber-crime. Current solutions are not effective and we are losing the battle against hackers.
Cryptyk’s new Hybrid Blockchain Technology integrates encrypted decentralized file storage with blockchain auditing and monitoring. This hybrid solution is passively immune to external, viral and operational security threats, and also allows network administrators to protect against potential internal and surveillance threats.
Cryptyk is the first complete cyber-security and cloud storage solution from a single vendor, and dramatically reduces the cost of cyber-security for all business and enterprise. It is less than half the cost of traditional multi-vendor security solutions and offers cloud storage significantly faster than blockchain options like Sia, Storj, and Filecoin.
At the heart of the Cryptyk platform is the Cryptyk Token (CTK), which drives an open-source cyber-security ecosystem consisting of 3rd party app developers, strategic enterprise customers, crypto-currency miners and investors. The Cryptyk Token is a true utility token that offers scalable benefits to all participants.
The prototype of the Cryptyk platform has been fully tested by over forty hackers and security experts. The Cryptyk ICO will fund the development of the platform into a full-featured market-ready release by Q2 2019.
Website = https://www.cryptyk.io
- File tracking - Authenticate and process by a crypto-currency miners - Paid for services in CTK tokens.
Attention. There is a risk that unverified members are not actually members of the team
$62 318 369
$18 345 118
$3 345 118
$89 567 854
Market Competitive environment:There are both large centralized players (DropBox, Google Drive, iCloud, Intel, Cisco, Amazon) and projects with blockchain:Filecoin - $257 M is raised, capitalization is n/d, ROI USD - 1.45xHolo - during ICO $20.4 M is raised, capitalization is $62.3 M, ROI USD - 3.08xDadi - $29 M is raised, capitalization is $9.5 M, ROI USD - 0.25xStorj - $30 M is raised, capitalization is $72.1 M, ROI USD - 1.06x
SOCIAL ACTIVITYThe project popularity in the social networks and discussion forumsThe project is not detected on the radar of influencers.Facebook: 11,4k followers (the number is decreasing), the average number of likes per post is 1, without any discussion in the comment section, user activity is low.Twitter: 10,3k followers, the average number of likes per post is 2, average number of retweets per post is 1, without any discussion in the comment section, user activity is low.Bitcointalk: thread has 3 pages of the discussion, user activity is low.Youtube: 30 subscribers, average number of views per video is 150, without any discussion in the comment section, user activity is low.Vimeo: 3 subscribers, there is only 1 video with 43 views and without any discussion in the comment section, user activity is low.Discord: 8,6k followers, user activity is low.Telegram: 19,7k members (it looks like there is userbase cheating), the channel is used to share news (~3 in the week), for chat is used discord. Chat has 21,6k members, admins are responding slowly, most posts are not valuable and was made by bots to create an image of high activity, while it’s low
We assign Cryptyk a “Stable+” rating.
The main idea of the decentralized technology developed by Cryptyk Inc. is to store data that cannot be corrupted and hacked. The Cryptyk project is entering the dynamically developing cloud storage market and the growing worldwide demand for data storage from end users and services should contribute to the efficient operation of the platform.
The product offered by the company is necessary for users, for whom the preservation of confidentiality of cloud stored data is of paramount importance. The main goal of the Cryptyk platform is to prevent both external and internal threats for stored data.
Among the project’s strengths we note that Cryptyk Inc. is IBM's partner for Embedded Solution. This cooperation, in our opinion, will contribute to the further development of the project and will become a competitive advantage for Cryptyk in this segment of the cybersecurity market.
We also note that token is necessary to the platform, since it serves as a fundraising tool for the development of the product. In addition, the tokens manage the Blockchain Sentry platform, which acts as a security audit mechanism.
Among the project’s weaknesses we note that according to the results of the Pre-Sale and the Public Sale, the distribution structure of the token allows for the circulation of tokens in the secondary market at the end of the lock-up period in a size two times more than the size of the primary placement.
All of the above facts, as well as the conducted analysis of the market, the competitive environment, and the risks of both the scope and the project itself give us reason to assign this rating to the project.
The Cryptyk platform is a hybrid decentralized data processing platform designed for secure and scalable online storage management, as well as file sharing, document editing, messaging and other cloud applications.
The success of any ICO depends on a number of critical factors which no-one can judge with any certainty. Two of these are project execution and future product adoption. However, if the strength of a team can serve as some kind of indicator for eventual possible success, then the Cryptyk team certainly appear to tick that box.
At the same time, the security of the blockchain would appear to make a natural fit for cloud-based services: the cloud is a particularly vulnerable place to store anything, judging from what appears to be the almost daily accounts of hacking episodes. However, the blockchain’s introduction of latency does mean that it may not be seen as the perfect solution by everyone – something which the team behind Cryptyk itself acknowledges.
The question therefore arises: can they achieve the “market optimum” discussed in the white-paper that will offer enough of both to make the final product a mass adoption success? Time will tell. One to watch.
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