Market.space, a service dedicated to safely storing and transferring data based on blockchain technology, will start its initial coin offering on April 16th, in which they will issue their MASP token.
The project’s objective is to come with a solution to the current problems cloud storage faces. Currently, the most popular services on the market have a higher risk of losing their stored data or worse, being stolen.
Because of this, many blockchain-based storage projects including Sia, Storj, MaidSafe, have seen an increase in use. Such services use complex encryption algorithms and distributed storage to significantly increase the security of the stored data.
Market.space intends on supporting the developing data storage industry, and to offer a new solution to the existing decentralized data storage systems.
“We want to support the entire decentralized data storage market and give those who are already familiar with this technology the chance to appreciate Market.space’s innovative approach,”
says the service’s founder Rakhmanov.
But unlike its competitors, Market.space intends to use major hosting providers to ensure that they use the best resources and equipment, to eradicate the problem with system vulnerability.
In addition to storing and transmitting data, the blockchain-based platform also allows customers to look for offers from hosting providers, and enable major developers as well as individual creators to distribute their digital content. Being based on distributed ledger technology, this marketplace eliminates the need for a middleman to mediate the transactions, allowing sellers to lower the prices of their products. When the files having the content are uploaded, a timestamp is instantly created, which will help establish authorship.
The information is kept on secure equipment.Suppliers can lease out unused space, while the customers benefit from a stable data storing framework at reasonable prices. The payment depends on how much amount of disk space will be used.
The data is encrypted and kept in a decentralized way, the files that are being transferred on the platform being split into multiple parts and secured by a top-notch encryption. Access to these files requires a certain key. All users on the platform are anonymous and have the same rights. Also, they are not required to create an account because they can use their wallet address to sign in. Clients can also use proxies, as well as create data backups by picking a few contractual workers.
Token Sale Details
Market.space has its token sale soft cap set at 15 million dollars and their hard cap at 50 million dollars. The raised funds will be invested in the development, testing, and launching the platform. To use the platform, a web application will be created, along with other software versions for mobiles. Market.space also established a compulsory security deposit in MASP tokens. Hosts deposit the tokens each time they enter the system, and when they leave it, the deposit is returned.
The MASP token is largely based on the Ethereum blockchain, their issuing being handled by a smart contract. MASP is a functional token that will be used for sending the security deposit once suppliers come into the system. 1 MASP token will be sold at a price of US $0.35. Payment methods include Visa or MasterCard, and with cryptocurrencies such as BTC, BCH, LTC, ETH, ETC and Dash. The minimum transaction sum is US $35, with no maximum limit.
In addition to the aforementioned list of digital coins, two other blockchain- based tokens, Sia (SC) and Storj (STORJ), are also accepted as payments. The tokens will be exchanged at the current market prices.
There is no limit to how many MASP tokens you can purchase during the ICO, but their emission will end after the sale. The MASP ICO will start on April 16th, and it will last until May 27th, 2018
Early buyers will be rewarded if they purchase tokens in the first two weeks of the ICO. The bonus will be 25% in the first 24 hours, 15% from the second to the eleventh day of the ICO, and 10% in the 12-14 days of the ICO.