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Cryptyk (PreICO)
Hybrid Blockchain for Enterprise Security
Cryptyk is building the world’s most complete cyber security and cloud storage platform. Instead of trying to prevent data security breaches, Cryptyk assumes hacks are inevitable and makes files effectively ‘safe to hack’.
Cryptyk’s Hybrid Blockchain Technology integrates encrypted decentralized file storage with blockchain auditing and monitoring. This hybrid solution effectively mitigates against the five major threats to cloud security.
It is the first complete cyber-security and cloud storage solution from a single vendor and dramatically reduces the cost and complexity of cyber-security for all enterprise.
Cryptyk has developed a revolutionary new approach to cyber-security and cloud storage. Instead of trying to prevent data security breaches, Cryptyk assumes hacks are inevitable and makes files effectively ‘safe to hack’. The ultimate goal is to take the profit out of hacking and the risk out of the cloud.
Cryptyk’s new Hybrid Blockchain Technology is based on the integration of 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. It 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.
“We are building the world’s most secure cloud security and storage system”, said Cryptyk CEO, Dr. Adam Weigold. “but more importantly we are also creating a whole new crypto-economy and ecosystem for the cyber-security market” he added.
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. Long term growth in CTK value will be directly driven by customer adoption and product use, rather than short-term market sentiment. Consequently, utility tokens offer investors greater potential for long term growth and less market volatility compared to the more common security tokens. Token sale participants are investing directly in a product and its self-propagating ecosystem, rather than buying equity in the company.
The Cryptyk Team comprises of veteran cyber security, cloud storage and blockchain experts. The founders include CEO, Dr. Adam Weigold, a quantum physicist and veteran of 6 tech startups, and CTO, Raghu Kotha, a well-known white-hat hacker, cyber security expert, and former director of security at Silicon Valley Bank.
The funds raised in USD, Bitcoin and Ethereum will be used by Cryptyk Inc. for product development and sales. A minimum raise of US$3 million is required to deploy the crypto-currency ecosystem with a maximum raise capped at US$25 million.
The pre-sale round for accredited investors commences on February 08, 2018 at 5pm UTC. The pre-sale round is priced at a 20% discounted price of 10 cents per CTK token. The public sale round for non-accredited investors commences on March 08, 2018 at 5pm UTC, and is priced at 12.5 cents a token. Note that only 750 million tokens will ever be created and released into the market.
IP Blockchain inventor | Serial ICT inventor | Angel Investor | Quant | Educator | Meditator Rated on Feb 26, 2018
2
4
2
15%
1. Good vision.
2. Not sure who within the team has the technical capability to code the blockchain solution.
3. Good if you can provide screen snapshots or video of the prototype.
4. Pg. 25 of your white paper mentioned about "...tested by over 40 invited cyber-security professionals over a test evaluation period of 3 months." Would like to know more about the profile of these 40 cyber-security professionals.
5. The approach that you have taken for your whitepaper is appreciated but the lack of inline references and citation is a room for improvement.
(a) Do consider using a proper reference format, eg. APA Style, Harvard Reference format, etc.
(b) More journal papers or even patents as your reference would help.
6. Best wishes.
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"Luke Lombe (ICO team member) replied me on 26 Feb 2018
Hi Dr. Yeap.
Many thanks for taking the time to review Cryptyk.
I would like to address your comments:
Thank you!
A1) Raghu Kotha is an experienced security developer, as is Dennis McMasters, Daniel Floreani, and Derek Grocke. We have a very experienced tech team with specialties including systems architecture and platform design. We will be adding to the tech team with new talent focusing on blockchain development. The foundation concept and design for SENTRY, the blockchain aspect of Cryptyk, is already in place.
A2) Great feedback, thank you. We will release some demonstration videos over the coming days. The prototype is fully tested and working. Many ICOs have only concepts, yet we have a working product. You can see it at https://cloud.cryptyk.com/ and if you are interested, please email me [email protected] so I can arrange for you to have a login created for assessment.
A3) Unfortunately the names of many of the cyber security experts cannot be released as a large number are black hat hackers. Their anonymity is very important. I will see which names can be released and advise.
A4) We wanted a combination of readability and academic integrity. Where specific information has been used we have provided references. There has been little peer-reviewed journal writing done on decentralized storage and blockchain security, however, you comments have been noted.
Many thanks!
Would you please be so kind as to reconsider your rating? I hope that you see the potential in what we are doing, the strength of our team and advisors, and the fact that we have a fully tested prototype.
Kind Regards
Luke"
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My reply to Luke (26 Feb 2018)
Thank-you for getting back to me. I would have change my Team score from 2.0 to 2.3 but ICOBench score type is integer rather than floating-point.
R2) Will wait for the demonstration videos
R3) Will wait for the names that you can release - am sure that must be at least 1 white hat among the 40+ professionals
R4) There are actually several publications and conference papers, eg.
o Olivier Boireau, "Securing the blockchain against hackers", Network Security, Volume 2018, Issue 1, 2018, Pages 8-11.
o Xiaoqi Li, Peng Jiang, Ting Chen, Xiapu Luo, Qiaoyan Wen, "A survey on the security of blockchain systems", Future Generation Computer Systems,
2017.
There are actually a lot more publications.
R2) Please see the prototype demo video here: https://www.youtube.com/watch?v=q6rqSDQkhr4&t=1s
R3) unfortunately it would be a violation of our user / tester agreement to release any names. However, I can release one. Derek Grocke ended up joining the team after he reviewed the prototype, so impressed was he with where we were taking this. You can find his details here: https://www.linkedin.com/in/derekgrocke/
I hope this is sufficient to implore you to adjust your score as every bit helps and we appreciate honest and fair reviews and feedback.
As an investor, I also hope this encourages you to join our ICO. We are in pre-sale until April 20 and then opening the public sale for 4 weeks beginning May 1.
Cyber Security Advisor for ICO startups Rated on Feb 25, 2018
5
5
5
13%
The cyber security offering of the project looks solid from the whitepaper, competitive ideas and not currently being offered by the competition.
MVP is not yet present, this will give more weight to the project.
The team needs to work more on polishing the delivery of their ideas in more formats and in a better quality - videos, presentations, community effort.
Blockchain Security Engineer Rated on Feb 25, 2018
4
4
4
9%
Team is excellent and experienced. They have been working on the product since 2015.
They are competing with Sia & Storj and in video explains that Cryptyk is faster then both of these rivals. We cannot assess as product is not launched.
Unique thing is that the different Cloud storage they are going to use to improve the security. Also some added features other then what Sia, Storj, Filecoin is providing.
Speed tests were performed on the prototype and consistent <200ms latency was observed. Looking forward to releasing the market-ready full-featured version in mid 2019.
Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.
Ratings and ICO analyzer results are being updated (re-calculated) every few hours.
