FileTrust: Decentralized Secure File Sharing and Storage

In the modern era, our data is more valuable than ever. Whether it's personal pictures or sensitive business files, we all save and share digital content daily. But here's the catch, much of this data resides on centralized cloud systems. That means one company dictates how your files are stored, shared, and even accessed sometimes. If they get compromised, crash, or abuse your data, the data is in danger.

This is where FileTrust comes in. FileTrust is a new platform to share and store your files with blockchain technology, end-to-end encryption, and decentralized storage. It's secure, private, and places you in full control of your own data. Developed by ElectraSi, FileTrust is a more dependable and user-centric solution than traditional cloud providers.

Let's take a look at what FileTrust is, how it operates, and why it may be the future of data storage.

What is FileTrust?

FileTrust is a decentralized file storage service that secures your information better through the application of cutting-edge technologies such as blockchain, IPFS (InterPlanetary File System), and cryptography. As opposed to ordinary cloud storage, your files in FileTrust are broken down into numerous encrypted fragments. The fragments are distributed across various computers (referred to as nodes) geographically dispersed across the globe.

The payoff? No one individual or corporation ever has your entire file. Only you can view it and put it back together. This method makes it virtually impossible for anyone to access it without permission and dramatically enhances your privacy.

How FileTrust Works

FileTrust takes a few clever steps to protect your information:

File Dispersal: Your file that you upload is split into multiple pieces with something called the Information Dispersal Algorithm (IDA).

Encryption: Each of these file pieces is encrypted with robust layers of security.

Decentralized Storage: These encrypted fragments are kept on nodes in a distributed system with IPFS.

Secure Access and Retrieval: When you need your file again, only you can decrypt and download the full file with your private keys.

Technologies such as Multi-Party Computation (MPC) and Proxy Re-Encryption (PRE) enhance access control even more, so no one, not even FileTrust developers can look into your data.

Why FileTrust is Different

Storage solutions are a dime a dozen, so what makes FileTrust special? A couple of things:

True Privacy: Your files can only be accessed by you. Period.

Enhanced Security: Your data is divided and encrypted, meaning that even when a hacker cracks one of the nodes, they will not get your complete file.

No Central Authority: Unlike large technology companies, FileTrust does not have control over your data. It operates on a decentralized system.

Get Rewards: You will get rewarded with tokens by being a part of the FileTrust network as a Vault Keeper or Guardian, based on your contribution towards making the system secure.

This platform can be used by organisations that are involved in the operations such as healthcare, legal services, IoT, and enterprises. It comes in handy with anyone concerned about his/her digital privacy. 

Being an individual or a business, FileTrust ensures that your information remains confidential and visible only to you and the people you trust. 

The FileTrust Token (FTU)

FileTrust has its own cryptocurrency called the FileTrust Token (FTU). It plays a big role in the ecosystem.

  • You pay with FTU to store or retrieve data.

  • You earn FTU by contributing storage and helping with security.

  • You vote using FTU tokens to help decide the future of the platform.

Tokenomics at a Glance:

Symbol: FTU

Initial Price: $0.02

Total Supply: 5 billion FTU
Funding Target: $5 million

Soft Cap: 100 ETH

Hard Cap: 1350 ETH

Accepted Payments: ETH, USDT

Buy via: MetaMask, Trust Wallet, Coinbase

Token distribution is carefully planned

Founders and Team (20%): A percentage of the tokens will be reserved to the founders and core development team to help with long-term growth and development of the platform. These tokens will have a vesting schedule in order to align the team incentives with the success of the platform. 

Public Sale (30%): The tokens will be sold to the public in the first token generation event (TGE) to enable the early adopters to be part of the project hence offer the required funding to develop the project. 

Community and Ecosystem (25%): A large portion of the tokens will be set aside to be used by the community and ecosystem development as well as partnerships. They are issued to early users as incentives, create strategic partnerships and drive adoption. 

Vault Keepers and Guardians (15%): Tokens will be distributed to Vault Keepers and Guardians who will act as an incentive to provide storage and to operate cryptographic processes as well as providing data availability. These are awarded tokens which are given out gradually according to the input of every player. 

Reserve Fund (10%): A reserve fund is held to secure the sustainability of the platform on a long term basis. Such tokens may be utilized to tackle unexpected difficulties, finance the future advancement or supply liquidity to the marketplace.

Project Roadmap

FileTrust has made great progress and has big plans ahead:

  • June 2024: Core concept and feature planning

  • October 2024: Smart contract development

  • February 2025: App and software design

  • March 2025: IPFS setup for decentralized storage

  • April 2025: Encryption & prototype testing

  • June 2025: Alpha version release

  • September 2025: Beta version with MPC and PRE

  • November 2025: Full launch with user onboarding

Conclusion 

In an era where digital privacy is constantly at risk, FileTrust provides a smarter way of reclaiming control. By bringing together blockchain, cryptography, and decentralized storage in one platform, it builds an as-safe-as-possible, as-fair-as-possible file-sharing system.

By rewarding people who aid in securing the network and keeping your data away from centralized servers, FileTrust guarantees that your files belong to you. The future of secure file sharing has arrived and it's trustworthy, transparent, and yours.

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