In a world more connected than ever before, communicating effectively is becoming more prevalent than ever before. ySign announced their upcoming decentralized messenger application, based on blockchain technology, as well as the token event which will begin on the 21st of March.
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Token Generation Event
The token sale will continue until April 18th, with rates increasing the later you contribute. Prices start at .00018 ETH/.43 XEM per token and increases up to 0.00072 ETH.1,71 XEM in week four. Each week will see 10,000,000 tokens being auctioned. For the main sale period, which starts one day after the pre-sale concludes will sell 11,600,000 tokens at the rate of .00084 ETH/2 XEM per token. All unsold tokens will be burned.
77% of the proceeds will be used towards marketing, software development, core service and maintenance, legal fees, as well as pool reserves. The remaining 23% will stay locked up for a year or until the actual application launches, staying with the team. The token is ERC20 compatible, meaning it is supported on wallets like MyEtherWallet, MetaMask, Mist, Parity, imToken, and depotwallet.
Token Holder Benefits
Besides receiving early access to the decentralized messaging app, token holders will be invited to roadshows, as well as any future benefits associated with the growth and success of the project.
the design is offering a solution to the growing need for a fast, simple, and reliable means of digital communication. design not only delivers on this, but does so without using a centralized structure, which is prone to government backdoors, censorship, and targeted malicious events.
ySign CEO Ivan Vujic stated that over the last few years there has been increased concern about online communication privacy. The market is saturated with centralized apps and communications platforms, which are vulnerable to third-party intrusion and data theft. Ivan confirmed that ySign is introducing a new era to the way people connect with one another, on a global basis. The company’s plan is to start using blockchain technology, to ensure that it’s users enjoy the highest level of security and privacy during their communications. This will also allow them to connect with each other and share information freely, and, above all, safely.
This allows ySign to get rid of needing to centrally process text messages and calls, allowing for a global method of free, secure, and anonymous communication. Instead of using centralized servers, ySign hosts data and protects user privacy by using the NEM blockchain for file storage, and decentralized file sharing to distribute messages.
Furthermore, the application itself doesn’t collect personal information, only requiring a username and a password in order to start messaging. So not only is user data encrypted and decentralized, no identifying data is collected, making it impossible to trace data back to individual users.
With the most popular messaging apps like WhatsApp and Messenger being massive targets for government pressure, those looking for discretion when talking among friends around the world don’t really have a solid choice to turn to ySign.