FileTrust Launches Blockchain Platform for Secure File Sharing

FileTrust is a new platform designed to revolutionize the way files are shared and stored, leveraging blockchain technology, end-to-end encryption, and decentralized storage. In an era where digital data is increasingly valuable, traditional centralized cloud systems pose significant risks. These systems can be compromised, crash, or misuse data, putting users' information at risk. FileTrust aims to address these issues by providing a more secure, private, and user-centric solution.

Developed by ElectraSi, FileTrust operates by breaking down files into numerous encrypted fragments, which are then distributed across various computers, or nodes, around the world. This decentralized approach ensures that no single entity has access to the complete file, enhancing privacy and security. The platform uses advanced technologies such as the Information Dispersal Algorithm (IDA), IPFS (InterPlanetary File System), and cryptography to achieve this.

FileTrust's process involves several steps to protect user information. First, the file is split into multiple pieces using IDA. Each piece is then encrypted with robust security layers. These encrypted fragments are stored on nodes in a distributed system using IPFS. When a user needs to access their file, they can decrypt and download it using their private keys. Technologies like Multi-Party Computation (MPC) and Proxy Re-Encryption (PRE) further enhance access control, ensuring that even FileTrust developers cannot access the data.

What sets FileTrust apart from other storage solutions is its commitment to true privacy, enhanced security, and the absence of a central authority. Unlike large technology companies, FileTrust does not control user data; instead, it operates on a decentralized system. Users can earn rewards in the form of FileTrust Tokens (FTU) by contributing to the network's security as Vault Keepers or Guardians. This platform is particularly useful for organizations in sectors such as healthcare, legal services, IoT, and enterprises, as well as individuals concerned about digital privacy.

The FileTrust Token (FTU) plays a crucial role in the ecosystem. Users pay with FTU to store or retrieve data, earn FTU by contributing storage and helping with security, and vote using FTU tokens to influence the platform's future. The tokenomics of FTU include an initial price of $0.02, a total supply of 5 billion FTU, and a funding target of $5 million. The token distribution is carefully planned, with allocations for founders and the team, public sale, community and ecosystem development, Vault Keepers and Guardians, and a reserve fund.

FileTrust has a comprehensive roadmap for its development. Key milestones include the core concept and feature planning in June 2024, smart contract development in October 2024, app and software design in February 2025, IPFS setup for decentralized storage in March 2025, encryption and prototype testing in April 2025, alpha version release in June 2025, beta version with MPC and PRE in September 2025, and full launch with user onboarding in November 2025.

In conclusion, FileTrust offers a smarter way to reclaim control over digital privacy. By integrating blockchain, cryptography, and decentralized storage, it creates a secure and fair file-sharing system. By rewarding users who contribute to the network's security and keeping data away from centralized servers, FileTrust ensures that files belong to the users. The future of secure file sharing is here, and it is trustworthy, transparent, and user-controlled.