ICO Expert Review: Cryptyk
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Nov. 20, 2018
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This time we consider Cryptyk, which is both a decentralized platform for cybersecurity and a cloud storage that uses blockchain technology and self-propagating ecosystem.

What problems does it solve?

According to the developers, annually in the world $1 billion goes to cyber crimes (the source of the statistics is not specified). For every single dollar spent on the cloud storage, four dollars go to protect said storage. Therefore, Cryptyk solves a very sought-after task – it offers storage and solves security issues with a decentralized hybrid, which provides low latency, encrypted cloud storage with built-in passive protection.

In its blockchain Cryptyk uses two additional decentralized platforms:

  • Vault – a decentralized platform with multiple cloud storage for encrypted file management and sharing;
  • Sentry – a decentralized platform for tracking and auditing all users and file sharing events.

The platform can be used by different businesses ranging from banking, financial services, to medical, healthcare, multimedia, crypto exchanges, and others.

Cryptyk Inc. aims to attract a lot of users and plans to create a non-profit foundation (with head office in Australia) for encouraging customers and developers to participate in the economy of the project. The main function of the Foundation is developing the Cryptyk community worldwide and conducting regular promotion. There a plan to open additional offices in Zug (Switzerland) and New York (USA) by the end of 2018. But how the platform will attract users and with what remains a question.

As for the product, the demo version of the platform is already available for trial, as well as the wallet. The smart contract for the CTK token can be viewed here.

Token Sale and Society

Cryptyk tokens (CTK) are the fuel for the platform and will be used in any transaction. According to the team, the tokens may be bought with fiat money.

Due to the token sale conditions, the minimum investment is $5,000. The overall issued number of tokens is 750 million CTKs. The pre-sale round has a soft cap of $8 million. The public sale has a hard cap of $25 million.

As of November 20, the official website shows that during the ongoing pre-sale the project has already collected almost $11.7 million, which is a great sign for investors.

ICO Expert Review: Cryptyk
Cryptyk.io

Thanks to its social activity, the project is very popular, especially on Twitter (11,000 followers) and in Telegram (43,000), which speaks of a competent promotion strategy and real interaction with users and investors.

Summing up, we can say that the Kryptyk project looks like a thought-out idea with a good and competent team headed by Adam Weigold (quantum physicist, technologist, investor, an entrepreneur with 20 years of experience), which has a working prototype and all the necessary documentation to answers the questions. If the project manages to collect the planned amount of money ($25 million) and correctly disposes it, then it could be a black sheep – successful in times when ICO market is in a deep depression.

Click hereto visit Cryptyk page in the list of our upcoming ICOs.

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