Introduction
As you may already be aware, I am a gem hunter and always on the look out for the next big thing. I came across Internxt and was truly fascinated and intrigued by its elegant cloud storage concept.
Summary
Started: July 2017
Type: ERC20
Consensus Algorithm: PoS
Founder & CEO: Fran Villalba Segara
Purpose: Decentralised Cloud Storage Service. Main product X Cloud
Current Price: $4.68 USD
0.00073232 BTC
0.01069050 ETH
Marketcap: $3M
Circulating Supply: 629,610
Maximum Supply: 629,610
Rank: 677
Website: https://internxt.com
Main Decentralised Competitors: Storj and Sia
Main Centralised Competitors: Google Drive and Dropbox
Partners: Blackberry and Civic
Community: Twitter @internxt 15k
Telegram @internxtHQ 14k
Background info about CEO Fran Villalba Segarra
Fran has always been intrigued by entrepreneurship and advancements in new technology and holds a Bachelors degree in International Business Administration by the Rotterdam School of Management. He has always been eager to learn new things and taught himself programming when he was only 13. He was previously employed by Hostinger International for about 4 years and owned his own business OneSite, a web hosting company which he sold and used the funds plus the money that he had saved from being employed at Hostinger to start Internxt.
What is Internxt?
Internxt has an actual potential to be a breakthrough in the cloud storage industry. The main aim of this project is to provide a vast suite of innovative services that are mass-market attractive. For instance, X Core is basically the foundational base of their service, X Cloud. X Core is the infrastructure created by users all around the globe who are in one way or the other partaking and influencing the creation of a decentralized, and ofcourse more secure internet. Users can sell the resources of their machines to those looking to host their data in a more private, secure and efficient manner.
Where can you buy Internxt?
Unlike other coins/token, you can buy INXT dirextly from their website.
However if you wish, you can also buy INXT at exchanges, such as:
CoinExchange
Yobit
IDEX
Etherdelta
Mercatox
What is the idea behind Internxt?
The CEO Fran Villalba Segara originates from a Web Hosting background and found out that there were many great and widely utilised internet services which had to be rebuilt from the ground up. His main intention was to create an innovative product that would solve the current issues users are facing, and outperform and prevail the ones that are used at present by the mass market.
If you look at existing cloud platforms already on the market, a major problem/complication is security and data centralization. Another dimension to cloud computing with tremendously serious implications for security is the deployment model: who owns the
infrastructure and how is it accessed.
What are different types of clouds we have?
A Private cloud refers to a collection of resources used by a single organization. This is typically owned and controlled by the organization itself, and thus in practical terms is not very different to any other data owned and managed by that enterprise. A Public cloud refers to resources accessible by anyone, usually over the public internet, managed and owned by a third party with
all the resulting vulnerabilities therein. A third category, Hybrid cloud, refers to a combination of private and public clouds along with the connecting fabric between the two, but even the latter doesn't tackle any of the vulnerabilities that they pose.
How is Internxt different to the ones mentioned above?
Internxt’s X Cloud introduces an innovative and revolutionary solution to the market. The data on X Cloud is spread across a public network run by users, but all the files are encrypted before they are sent out. There are no single points for hackers to attack. It would be an incredibly complex process for anyone to access a file on this network, and even if they could, it would be useless without the private key held by the owner. With Internxt the team wants to combat and tackle the security and privacy issues the internet is currently facing and they will do this with the development of their first service: X Cloud.
What is X Cloud?
Internxt's X Cloud enables all users to store files in a truly secure, private and reliable cloud, without compromising user experience. X Cloud will be faster, cheaper, and more secure than traditional cloud storage platforms. Furthermore, Internxt believes in elegancy in design. In the beginning it may take a little longer to craft a efficient and enjoyable product experience for all users but the benefits of doing so are born out in the end. Internxt built X Cloud to be simple, elegant and intuitive, but also extremely powerful and highly customizable. X Cloud’s desktop interface consists of an easy-to-use folder where files are automatically synchronized with X Core. (X Core’s rapid synchronization of files throughout the P2P computers that comprise the network runs with Qt/C++ technology).
For companies like Google, protecting their users’ privacy conflicts with their business model; a business model which is to accumulate as much user data as possible in order to serve ever-more targeted ads.
On X Cloud, user data is no longer stored in a central location, but instead end-to-end encrypted, split into pieces, and then distributed amongst different machines all around the world. With X Cloud, the user is the only one with access to his/her digital possessions, the way it should have always been. The cloud services currently adopted and in use today e.g. Google and Dropbox are vulnerable to a variety of attacks, which can lead to encryption walls being bypassed and user’s personal data accessible to hackers.
How is user data on Cloud X protected?
Internxt is transparent about its superior security and privacy practices. Here are the 3 most important steps they are taking to protect user data on X Cloud:
They encrypt all your data before it leaves your device and reaches X Core servers using AES 256 bit encryption, the same type of encryption that is being used by banks and government agencies to protect sensitive data. This is already a major difference from mainstream services such as Dropbox or Google Drive, which only encrypt customer data in transit and at rest, which basically entails that these companies themselves can still access and use your data. With Internxt's encryption model, the user is the only one that holds the keys to his/her data. Therefore, Internxt can never access your data and more importantly, in the event Internxt was ever hacked which is less likely, the intruders would not be able to access user data. Mainstream providers could offer this functionality as well, but they do not. As a matter of fact, Google started developing a way to encrypt emails end-to-end in Gmail after the Snowden revelations, but the project has been abandoned (and that’s why projects like ProtonMail also happen to exist).
Where is the user data stored?
Internxt does not store user data in a single location. Instead, it is spread across a large decentralized network. An attacker would therefore have to breach millions of servers in order to obtain user data, and if he were somehow to succeed in doing that, the data would still be encrypted. In order to protect your privacy, Hosts on the decentralized network never know to whom a file belongs. Additionally, Internxt only stores small parts of any file with a single Host. In effect, user data is everywhere and nowhere at the same time. This is a fundamental difference between their service in comparison to other providers of end-to-end encrypted storage services such as Tresorit or Sync.com.
How is Internxt different and or better than Golem, Sub, Storj and Sia?
Golem and Sub are not exactly focused on cloud storage.
Storj and Sia have accomplished outstanding milestones. For the last few years, they’ve been building a great decentralized cloud storage infrastructure. As a matter of fact, X Cloud’s original architecture (as released in their Alpha version) was based on that of Storj. These two companies have been around for a while already, and although they have been successful in targetting developers in the decentralized / blockchain / crypto communities, they have failed to reach out any centralised market segments other than the decentralised market. X Cloud will actually be able to compete with centralised Cloud services.
Internxt is working on making their architecture as solid as possible but when it comes to architectural, they are not trying to differentiate from Storj Sia but are focused on the UI, the ease of use with an elegant and modern design.
Internxt strongly believes that decentralized cloud storage as an infrastructure is now ready to overtake centralized cloud storage infrastructures.
Internxt is creating revolutionary services and solutions that strive to outperform the current options in the market, both the widely known and centralized options, and the decentralized projects that are attempting to compete. Internxt is ambition, excitement, and the sense of belonging to something better. X Cloud’s main competitive advantages center on privacy, security, efficiency and a user experience that is virtually indistinguishable from the centralized options. X Cloud’s price and user experience are as competitive as those offered by the current top providers.
What does Internxt's roadmap look like?
Q3 2018: X Cloud’s Beta service is scheduled to be released.
Q4 2018: The commercial version is scheduled to be released.
Both releases will include desktop and
web apps.
Q1 2019: The iOS / Android mobile apps is scheduled to be released.
The focus for 2019 will primarily be
growing and improving the X Cloud product and service, but Internxt is also working on developing additional services in the same year.
How many partnerships does Internxt have?
BlackBerry
One of their partners is BlackBerry and one thing they have in common is that they arw both very much privacy focused.
Through this Partnership, BlackBerry will be aiding Internxt to improve the security of its cloud storage service, X Cloud, by transferring unique knowledge and material in the topics of Encryption (at rest and in transit), Authentication and Data leak prevention.
Civic
Internxt has also partnered with Civic. Civic’s Secure Identity Platform provides an easy and transparent way for users to authenticate using blockchain technology, and Civic’s KYC solution can help companies effectively identify their users. Implementing these technologies in Internxt’s services will help Internxt encourage the correct and intended use of its Internet services. Internxt believes that in order to bring the use of decentralized Internet services to the mass-market there has to be a procedure put in place to stop its foundations being misused and Civic will help with that.
Does Internxt have any plans of future parternships and listings?
Internxt is very eager and determined to expand their partnerships. They are hoping to be working with phone and pc manufacturers to have X Cloud pre-installed on their devices, like Google drive.
Internxt is also in talks with Hacken and other hacking agencies so that they can aid them to improve their infrastructure.
They are currently working to get listed on Kucoin.
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