Crypto Wizards AMA With Wicrypt
Guest: Tonight Dad
Q1) Can you give a brief explanation about 'WICRYPT' .What popped up in your mind to create such a platform in this space?
Ans:Wicrypt is Decentralized mobile internet sharing and monetization network. Wicrypt has created a smart Wi-Fi network infrastructure that runs on a decentralized network of micro-nodes powered by the Wicrypt OS(operating system), giving anyone the power to act as a micro internet service provider.
The Wicrypt protocol allows anyone to share their WiFi with others & get paid for doing it!
Wicrypt Hotspot Creators mine $WNT when sharing their WiFi .
We built Wicrypt with the aim of making mobile internet more affordable and more accessible for anyone anywhere in the world.
Q2) what are your main features that discern you from other projects and what key advantages do you have?
Ans:Features of Wicrypt
1. Users earn money by sharing their internet data
2. Freedom to decide your own rates for creating a hotspot network
3. Put a limit on the data usage & time
4. Get customer feedback & run ads of your business
5. Clients also mine WNT for using the hotspot network
6. Hosts that create Wicrypt hotspots mine WNT (Wicrypt Network Tokens). WNT is the native token of the network
7. Wicrypt is location and ISP agnostic. This means it can work anywhere with any Internet service provider
8. Wicrypt is very secure and runs its own Operating System called Wicrypt OS
We have only one competitor in the crypto space called Althea. What makes us different
Althea is very similar to Wicrypt but limits setup to communities. There has to be a partnership with a community and there is a lot of overhead cost in setting up large networks hence scaling becomes a little hard. Wicrypt gives individuals anywhere in the world the power to create their own locally run networks with less than $200 and they can setup this network in less than 10 minutes as opposed to large setup costs of over $50,000 and which will be done in months. Wicrypt has mobile apps on android and iOS for for both Wi-Fi hosts and clients who want to connect to Wi-Fi. The mobile makes it easy for anyone in the world to connect to any available Wi-Fi hotspot in their location easily.
Wicrypt devices also allows its hosts to mine Wicrypt network tokens when they share their internet with other users. This incentives hosts to have high uptime and provide good internet service to clients. Althea does not do this
Q3) How has the experience and background of your team been effective in the success of your project so far?
Ans:Our team has background in blockchain engineering, hardware engineering, OS development and telecommunication. Over 30 years combined experience in these fields.
This has led to the steady and continuous development of a robust and highly secure system.
Here is a post on the Wicrypt team: https://medium.com/wicrypt/introducing-the-wicrypt-exec-team-edca2eba903c
Q4)Now Share us about your Token, What are the some of utlities of $WNT in Your Ecosystem? And if possible share to us the Tokenomisc of WNT Token
Ans:Utilities of $WNT
1. Staking: Wicrypt hosts will need to stake Wicrypt Network Tokens (WNT) to become active hosts that can mine WNT when they provide Wi-Fi connection to users. Staking WNT helps to prevent bad actors from joining the network
2. Voting rights or Governance : WNT holders will be able to perform governance actions to control different parameters that determine the operational structure of the network
3. Airdrop Reward: WNT is used to reward hosts that provide active hotspots with high uptime. Clients get incentivized with WNT when they connect to multiple hosts for a specified period of time and have consumed a certain amount of bandwidth. 20% of overall network tokens have been allocated for mining rewards for hosts while 5% have been allocated to reward clients. Rewards and incentives helps to create a large network effect which leads to fast adoption
4. Payment for service or Product/Payment for ads: Businesses are allowed to place ads on the Wicrypt Network. Payment for the ads will be done WNT
5. Gas/Transaction Fees/Discount on Wicrypt fees: Payment for internet connection with WNT gives discounts on fees
6. Discount on Payment for Wicrypt Devices: Wicrypt devices can be purchased with WNT at a discounted rate
Tokenomics is in deck: https://docsend.com/view/6qi7w43r4pf7cgdf
Q5) So how long did it take took develop this project? What plans do you have for the future? And what can we expect from WICRYPT? If possible could you please share road map with us.
Ans:This project took us 1 year and 6 months to build the technology which includes the hardware, Operating System , android and iOS app.
Here is our roadmap: https://wicrypt.com/roadmap-2021.html
1.In context that indeed if in Wicrypt everyone can access high-speed internet for free or at a certain price they choose, so, what is the difference from accessing it for free or paying, could you give a comparison and brief explanation about it?
Ans:Accessing for free depends on the owners choice. Owner can decide to charge or give out for free.
For any selected option, the owner will still earn $WNT for having users connect to his or her device whether giving for free or charging the users.
2.I read that in Wicrypt you can Receive payments to the wallet account when other users connect to my hotspot network. What is the percentage of profit generated through this model? Are the profits awarded in the Wicrypt token? How much can I earn with this system of returns?
Ans:When user receives payment from a client, the user earns 90% of revenue and Wicrypt charges 10% in commission. Reward can be withdrawn as stable currency or in Wicrypt Network tokens depending on option selected.
A hotspot creator also mines $WNT when sharing hotspot.
A single device can earn up to $400 or more in a month.
3.NFT is really a hot topic in the cryptocurrency market now. So how is your project planning to develop NFT then how is your project planning to integrate it with DeFi
Ans:Each Wicrypt device is represented on the blockchain by a unique Wicrypt Outlier NFT. Each NFT tracks real-time data on each device and this info can be seen on the Wicrypt block explorer. With NFTs, Wicrypt has created a global open-data network.
4)What are your status regarding the audit of your project and the security mechanisms to protect and assure the participants of the ecosystem?
Ans:Our protocol is audited and our contracts will be made open source
5. What major partnerships does you project intend to use or how does your project bring its products to the average consumer - especially non-crypto users?
Ans:Wicrypt has partnered with Governments and internet service providers to bring this product to non crypto users.
You can see our partnership with the Nigerian Government here: https://wicrypt.com/case-study.html
We also have partnership with existing telecommunication companies. Please see list of partners on our website; https://wicrypt.com/
1)Currently from where i can buy ? Is it possible that I can get only by holding it?
Ans:Wicrypt Network tokens will be available by December 3rd and you can see markets here: https://coinmarketcap.com/currencies/wicrypt/markets/
2) Which one of the most important for you?
1.Expanding Partnership Globally
2.Increasing Token Price & Value.
3.Empowering Platform Development
4.Building Community Trust
Ans:Lol. They are all very important to us.
3) Is your platform a global or is there any restriction to certain regions?
Ans:Our platform is global. There are no restrictions.
4) Do you have a YouTube and vidmate channel or a tutorial video that we can learn from? If yes. can you share it with us?
5) How are WICRYPTO devices different from all other devices available in the market? Who are the makers of these devices can you name manufacturing brand or company?
Ans:Wicrypt devices also allows its hosts to mine Wicrypt network tokens when they share their internet with other users.
The Wicrypt OS is the operating system that powers the Wicrypt Device. The OS is based on linux.
Features of the OS:
1. The Wicrypt OS can improve browsing speed and reduce bandwidth used in browsing especially in remote areas with poor internet service
2. The OS now supports real-time location for each device
3. The OS supports customized landing pages and syncs seamlessly with the web dashboard
4.The OS supports multiple clients and handles concurrency much better than the previous version
5. The OS allows mining of WNT (Wicrypt Network Tokens) to happen seamlessly on the device
6. The OS supports VPN capabilities to ensure privacy when surfing the web
Community, if you would like to learn more about Wicrypt, here are some useful links for you:
Twitter : https://twitter.com/wicrypt