As more and more data is stored online, hacks and data breaches are becoming a daily occurrence. It is estimated that as many as 5,000,000 data records are hacked and stolen every day. Even large corporations with expensive cybersecurity solutions, like Deloitte and Uber, are not immune. Hackers are becoming more and more adept at stealing data which can then be sold off to competitors or held for ransom – at a huge cost to the owner.

In order to stay one step ahead of the hackers, it is pertinent that companies today employ the most advanced technologies currently available to guarantee data security at each and every step.

The Cryptyk Solution

Cryptyk is currently one of the most advanced and secure cloud storage solutions for enterprise security because it approaches the problem of data theft from a unique angle.

Rather than use common cybersecurity methods that hackers already know their way around, Cryptyk instead ensures that any data that is stolen is rendered completely useless. It achieves this through the age-old technique of splitting an object into several pieces and storing them separately so that no one piece is of any use on its own. By putting a modern spin on this procedure and with the use of some of today’s most advanced technologies, Cryptyk has created a ground-breaking data storage concept.

Cryptyk uses an encrypted and decentralized multi-vendor cloud storage system for data integrity combined with blockchain technology for an auditable and incorruptible record of access. The two processes are individually referred to as Vault and Sentry.

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The Methodology Explained

When uploading data to the Cryptyk platform, a customer’s files are split into five separate pieces, or ‘shards’, which are then encrypted and stored on the servers of five independent datacentres around the world. This both removes the possibility of any single point of failure and makes any single piece of data useless. Cryptyk only uses provenly secure data storage companies, such as Google and Amazon, and creates multiple shared backups of each shard at various sites to ensure data is available 24/7 – even in the unlikely event of one provider going down.

To track and record the transactions of each and every file and shard, Cryptyk logs everything on an incorruptible blockchain ledger. This ensures no record can ever be fraudulently altered and is secure against both internal and external manipulation. Any illicit attempt to access a file will be recorded and made available so that both Cryptyk and the customer can view and track the transactions.

Not only is system highly secure, but it is also much faster than any other blockchain-based system that is currently available and costs less than half that of traditional cybersecurity solutions.

A Data Security Ecosystem

Above and beyond an enterprise cloud data storage solution, Cryptyk has also developed an open source cybersecurity economy. Utilizing the ERC-20 token technology of the Ethereum blockchain, Cryptyk has created its own cryptocurrency asset, CTK. This provides an avenue for security vendors, software developers, and cryptocurrency investors to get involved with ongoing developments of the Cryptyk project.

Head over to the Cryptyk Token Sale to take part: https://www.cryptyk.io/

Cryptyk is an official IBM Embedded Solutions Partner for blockchain and cloud services and the only blockchain company to be named in the Top 10 Enterprise Security Startups for 2018