HonorDrive ICO starts at 9th of July until 1st of August
https://honordrive.network/ for more information!
Official Links:
LinkedIn:
Resources:
Brief Overview:
Project Name: Honor – Decentralized ‘Cloud Drive’ with Cloud Office Suite compatibility using InterPlanetary File Systems (IPFS) on the Ethereum Blockchain
Honor is a decentralized ‘cloud storage’ service that allows compatibility with office suites. It tackles the issue of security and privacy without compromising convenience. Honor takes advantage of the InterPlanetary File System and allows the system to scale to thousands of documents a second on a decentralized system, where all documents are encrypted in real-time and stored in an encrypted manner on the IPFS swarm. Real time syncing allows multiple Ethereum addresses to be linked to a document sub-contract and does not compromise ownership. With Honor, both individuals and businesses can participate in a competitive cloud storage market with the HNR token, ushering the cloud-computing paradigm in a new direction.
Problem Overview
The cloud storage market is projected to witness a compound annual growth rate (CAGR) of 29.73% to reach a total market size of US $92.488 billion by 2022 from US #25.171 billion in 2017. Despite this optimistic growth, the cloud storage at large is in the hands of centralized entities that have access to everybody’s personal and confidential data. Infamous cloud storage breaches such as the Dropbox data breach in 2012 show the risk consumers are taking in order to trade off for convenience. Smaller cloud storage services have attempted to use encryption (such as MEGA) for the sake of privacy, yet the owners are constantly taking down and censoring files uploaded on their services.
In addition to this, the hyper-monopolization of the cloud storage market makes it hard for smaller and competing hosters to participate in a growing economy, and limits the revenue for the large companies that host data.
Mission Statement
“The Honor Foundation’s mission is to create a decentralized and censorship resistant cloud storage solution that has a fair economy and is easy for consumers to adapt.”
By removing unnecessary middle-men in the cloud storage industry, a trustless system arises so that a token market for hosting confidential data in an encrypted way is feasible and open to all that are willing and able. Honor will empower both small and large businesses to make the switch due to the competitive prices that are created by the token market. All users that have an internet connection and spare space can contribute and be incentivized to keep this system healthy.
100M Created initially at distribution
90M Will be available for fundraising.
3M Will be held by the Honor foundation for future development, community development
7M Will be distributed to the developers (internal distribution)
Honor Token Distribution:
(pie chart image)
Token Name: Honor Token – HNR
Total supply: TBD after crowdsale (maximum 100 million HNR)
No more HNR will be created after the crowdsale
Supply style: Deflationary
Format: ERC23 compliant
Divisibility: 10^12
The ERC20 format allows a common interface for digital assets on the Ethereum blockchain, allowing ease of use on multiple wallets, services, and exchanges a seamless experience.
HNR (Honor tokens) will be fully compliant with ERC23 standards in order to ensure that the tokens are compatible with all office suites, wallets (Geth, Metamask), and future services (decentralized exchanges).
The ERC23 standard is a new token format that solves some issues existing in ERC20:
- The handling of incoming transactions from the receiver contract
- Ensuring that transactions for one token will not be received by the receiving contract of another
- Ensuring uniformity within Ethereum such that the transfer() function is called for both contract and account deposits
These improvements are backwards compatible and these updates will be implemented in the Honor Ecosystem.
Roadmap
February 2017 – Start developmentJuly 2017 – Formation of the official Honor development team
September 2017 – Launch of the hybrid IPFS and Ethereum logic test net
November 2017- Scalability test-net ‘stress testing’ and client development
February 2018 - Scalability Stress Test Ends - IPFS Injection
1 July 2018 - Initial Coin Offering Starts
1 August 2018 - Initial Coin Offering Ends
February 2019- Planned release of test net HonorOffice Core Suites
March 2019 – Public beta testing on HonorOffice and cloud-storage solutions on the
test net
April 2019 – Civic compatibility (identity verification)
July 2019 – Optimization of APIs, release of source code to enable community
application support
August 2019 – Expected main net release, on-boarding of new developers and advisors.
October 2019 – Expected HonorOffice Core Suite updates and release, with Cloud
Computing ease of use, supported streaming on media files (flv, mp4, mp3, flac, etc)
and operating system streaming.
December 2019- Official Launch, Business outreaching to increase adoption, marketing
and business incentive spending.
January 2020- Scalability focused updates, mainly Raiden integration and other
improvements that will be TBA. Optimization of the IPFS platform.