November 24, 2022

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MASK Crypto – Mask Network, A New Bridge From Web 2.0 To Web 3.0 And Back

Mask Network - MASK Crypto is a protocol that allows users to communicate encrypted communications, cryptocurrency, and DApps across social media platforms.
MASK CRYPTO

Mask Network – MASK Crypto has devoted itself to safeguarding data privacy and developing the finest bridge between Web 2.0 and Web 3.0 since its inception in 2019. The Mask Crypto network has launched an ecosystem of more than 30 popular Web 3.0 dApps that function in tandem with current Web 2.0 sites.

What Is Mask Network – MASK Crypto?

Globally, social networks are used by around 90 percent of Internet users, and they have grown to become an infrastructure that only a select few are able to evade. Direct rivalry with those global tech giants stands unfeasible, giving rise to a slew of social media issues. They can hardly process cross-border payments, lack storage space for permanent files, and lack really safe encryption. They profit from our data and work, and we have no bargaining power to prevent them.

Instead of developing a new platform, Mask Network attempts to bridge the gap between Web2 (the present web) and the so-called Web3, allowing the general people to access the improved web within existing mainstream platforms without the need for an API or centralized server.

Mask Network is a gateway that allows users to communicate encrypted communications, cryptocurrencies, and even DApps (Defi, NFTs, DAO) over the top of social networks without migrating, resulting in the creation of a decentralized Applet (DApplet) ecosystem.

Mask Network MASK Crypto has devoted itself to safeguarding data privacy and establishing the finest bridge between Web 2.0 and Web 3.0 from its original debut in 2019. Mask Crypto network has launched an ecosystem of 30+ prominent Web 3.0 dApps that function in tandem with current Web 2.0 sites.

Mask Network- MASK EcoSystem

Faced with this broad ambition, Mask Network developed a unique strategy that allows individuals to reclaim their data sovereignty while also granting them the freedom to analyze and create information. As a result, unlike any other Web 3.0 initiative, their approach has been unique in that they are constructing a decentralized infrastructure that permits virtually any updates to be made on their familiar Web 2.0 sites, hence the Mask dApp ecosystem. The Mask Network ecosystem consists of:

  • 5 live Layer1/Layer2s: Ethereum mainnet, Polygon (Matic), BSC, Arbitrum, and xDai (coming soon on more L1/L2s such as Solana, Flow, Avalanche, Fantom, NEAR, Celo, Zksync, Optimism).
  • Live 3rd party dApps such as Uniswap, OpenSea, Arweave, Snapshot, and others that span DeFi, NFTs, and the larger Web 3.0.
  • Encrypted chat, Lucky Drop, Initial Twitter Offering, and Web 3.0 asset presentation, including NFT Gallery/ avatar, are some of Mask Network’s original developments.
  • Integration of existing Web 2.0 sites, such as Twitter, Facebook, and Minds.com (Coming soon on Instagram, Reddit, and a series of reputable forums).
  • Data provided by DeBank, Zerion, CoinMarketCap, CoinGecko, and NFTSCAN.

How Does Mask Network Work?

Mask Network is a one-of-a-kind service that enables its customers to conceal their true identities while doing online transactions. Mask Network does this by providing decentralized end-to-end encryption and by handling the interpretation of sent information.

The messages are asymmetrically encrypted, according to Mask Network. Two keys are utilized for this encryption method, the public key for encryption and the private key for decryption. When a communication is transmitted using Mask Network, it is encrypted using the public keys of the recipient.
When a chosen recipient gets communications encrypted by Mask Network, the extension uses the receiver’s private key to decode the message. The contents of the communication will be presented in plain text when it has been decrypted.

Mask Network has a blockchain wallet for red packet campaigns, Gitcoin grant financing, and cryptocurrency trading, among other blockchain-related capabilities. Users may use the addon to wrap cryptocurrency tokens like ETH into smart contracts and broadcast them on Twitter for other Mask Network users to claim.

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MASK CRYPTO

TOKENOMICS

MASK is the native utility token of the platform and is utilised in the following functions:

Governance: MASK token holders can vote on network governance choices in MASK DAO, or engage in subDAOs to vote on project selection for Initial Twitter Offerings (ITOs) (ITOs).

Protocol Incentivization: Active users of the Mask Network functions will be rewarded with MASK tokens.

Planned use cases to be published include:

DApplet Development on Mask Network: DApplet development (DApp operating on Web 2.0) on Mask Network will require a MASK token investment.

Premium Functionalities: Users will also require MASK tokens to enjoy premium functionalities in Mask Network, such as cross-chain smart wallets (in Mask 2.0) and social profiles.

The project has raised roughly 49.2MM USD from the following token sales:

Four rounds of private token sales and one angel round, where 28.45 percent of the entire token supply has been sold to raise 7MM USD in aggregate.

Initial Twitter Offering: 3 percent of the entire token supply.
Balancer LBP round: 4 percent of the total token supply.
Community Airdrop: 1 percent of the entire token supply.

PERFORMANCE HISTORY

MASK’s price soared to an all-time high of $31.06 after it was originally listed for $14.51 on February 24, 2021. Mask Network used the LBP to auction 4% of its total supply from February 24 to 26 in order to determine the MASK coins’ true worth. People stopped buying the token through the LBP after the price surpassed the market price. The price of the token plunged as a result of how the LBP balances the token price. MASK is now trading at about $6.90, down more than 70% from its all-time high.

MASK plummeted below $3.50 in the first quarter of 2022 as a result of the crypto crisis, and it has been fluctuating between $4.5 and $4.75 ever since.

DEVELOPERS

Suji Yan, a Chinese former investigative journalist, and engineer established Mask Network in Shanghai. Yan developed Dimension, a venue for a series of companies that argue for social liberty online, before launching Mask Network. Dimension now develops and maintains Mask Network in addition to its other projects like TesserPG and Twidere.

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