Adam Weigold | CEO | CRYPTYK | Insights Success

CRYPTYK: Achieving True Data Sovereignty and Security

Though the global cloud computing market is expected to grow rapidly, today’s high profile data breaches are inevitably reducing its adoption rate. Often, a single compromised connection to the cloud infects an entire organization’s sensitive data, and the cloud has grown to include IoT devices that are not held to a unified security standard and generally unsecured. “Challenges also appear in the form of hacker’s updated toolsets,” says Adam Weigold, CEO, Cryptyk. With the aim to avert impending security risks in cloud storage and enterprise network, Cryptyk leverages user encrypted file management and decentralized network storage architecture with blockchain auditing in a “hybrid blockchain” architecture that eliminates the damage caused by potential hackers’ attacks.

Based in San Francisco, CA, Cryptyk’s mission is to “take the profit out of hacking and the risk out of the cloud” by integrating two, separate decentralized platforms into one integrated single vendor cloud storage and security architecture. Their decentralized multi-cloud storage platform called VAULT works like most cloud storage interfaces, except that each individual file is encrypted once, then split it into 5 shards using an intelligent randomization process. VAULT then separately encrypts each of those 5 shards and distributes them onto 5 nodes. Each node is a different third party cloud storage provider such as Google, AWS, and IBM. This architecture makes any data a hacker acquires from a security breach useless, as the pieces are non-distinct and impossible to decrypt and put together without the magic addresses that only the user has. “Our ‘safe-to-hack’ Vault technology creates true data sovereignty and eliminates all significant threats to enterprise cloud use including hacking, ransomware, malware, server failure, even internal threats, while guaranteeing operational uptime, 24/7” notes Weigold. To guarantee uptime, Cryptyk uses a technique called Erasure coding, which creates multiple backups of each encrypted file shard distributed among the 4 other storage nodes. In the case of a DDoS attack or server failure on any of the nodes, Cryptyk users will not notice a change in service as files will be seamlessly constructed from the back up shards.

To protect VAULT, Cryptyk uses a robust security platform called SENTRY for auditing, tracking, and monitoring all user access and file sharing. Cryptyk SENTRY features a full set of security tools, with a blockchain component that sets permissions, and monitors all file access and activity on VAULT. Its immutable record allows for real time auditing by AI, as well as behavior analysis and predictive measures that not only eliminate external threats but also internal threats from within an organization. Sentry is also a protected portal that enforces end-to-end security measures for every user accessing Cryptyk data. This allows IT departments to have a complete control over all devices accessing their data, and allows proactive enforcement of secure practices for all data in motion.

“Often technologies attempt to achieve the security of distributed storage by putting files on the blockchain directly. This has proven to be a mistake because of high latency. Even in the early stage there are 20-30 seconds of lag, imagine waiting 5 minutes to open a document if the blockchain gets popular.” points out Weigold. “Also, if the distributed storage is on a peer to- peer network, or a blockchain, loss of crowd popularity will decrease users, reduce dedicated hardware, and thus transaction processing power”. Via their “Hybrid Blockchain” technology, Cryptyk stores files in double encrypted shards on 5 independent cloud storage providers online and protects access to the files with the blockchain. In addition, they utilize large enterprise accounts on these providers, guaranteeing speed, security, and uptime from each of these. The tested latency of files on the Cryptyk VAULT platform is less than 200ms, which is comparable to other cloud drives and enables real time file editing.

Furthermore, Cryptyk’s blockchain is powered by the Cryptyk Token (CTK), which creates a dynamic cyber security community of investors, developers, early alliance partners, and customers. This community has the singular goal of growing and extending the platform “We have already teamed up with several security focused hardware and software companies to expand our capabilities. With distributed servers across the world, we will achieve a failsafe system that is independent of vulnerability to hackers, viral attacks or even pressure from nations or governments, creating true enterprise data sovereignty,” concludes Weigold.

Quote: “Our ‘safe-to-hack’ Vault technology creates true data sovereignty and eliminates all significant threats to enterprise cloud use including hacking, ransomware, malware, server failure, even internal threats, while guaranteeing operational uptime, 24/7.”

URL: www.cryptyk.com

Source: The 10 Best Performing Managed Security Service Providers 2018

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