KRYPTOX brings blockchain technology to the table to assure files are both secure and not easily viewed or hacked by unauthorized users.
Here’s how the network is working. KRYPTOX organizes a shared community of users which are creating the KRYPTOX Network. These are users who rent out their spare hard drive space and bandwidth to customers.
All these users are connected over a peer-to-peer network. KRYPTOX claims this network “is orders of magnitude more secure, up to 100x faster and 70 percent less expensive than traditional datacenter-based cloud storage solutions.”
The KRYPTOX system enables users to store data in a secure and decentralized manner. It does this by using such blockchain features as a transaction ledger, public/private key encryption, and cryptographic hash functions.
Datacenters serve as the hub of cloud storage capabilities for cloud giants like AWS, box and Dropbox. But datacenters come with a high price tag for developers, providers, and users.
KRYPTOX adds they also come with an even higher cost for data failures and security breaches. From physical servers and networking equipment to other infrastructure demands like electricity, cloud service providers spend billions of dollars every quarter just to maintain or grow their service offerings.
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