AMA Recap Crypto Library with Wicrypt

                                      

On 13th September 2021, Wicrypt conducted an AMA in the Crypto Library Community. Our guest is Toni Dada. Lots of questions as usual from the Community about Wicrypt  progress. The Wicrypt team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into Wicrypt.

Let’s take a look at the most interesting points of our conversation. 

INTRODUCTION
Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Toni Dada (Wicrypt) : My name is Toni Dada. I am the COO and I have over 14 years experience in the Telecoms and Fintech space leading growth for the two biggest Telecoms companies in Nigeria MTN and Etisalat. My team has strong engineering and business background. Our founder and CEO is Aronu Ugochukwu who founded Xend Finance, the first DeFi project from Africa. Our CTO, Chuwkuemeka Nweke is a skilled blockchain engineer and leads our blockchain engineering team. We have our marketing and business teams in Nigeria, US, India and China.
FIRST SEGMENT (HOST)
Crypto Library Team : What is Wicrypt? and how does it work?

Toni Dada (Wicrypt) : 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. To Learn how to use Wicrypt Visit our help Centre: http://wicrypt.com/help/

Crypto Library Team : What Features and Advantages does Wicrypt want to offer? And why should we choose Wicrypt?

Toni Dada (Wicrypt) : This is what you'll get:
  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
Crypto Library Team :  Please tell us about $WNT token! What are the token use-case, distribution, and where we can buy it?

Toni Dada (Wicrypt) : Wicrypt has been operational for 3 years and has become a profitable project. Wicrypt introduced a token as we wanted to go public to help with a very large network effect as we go global. $WNT has not been minted yet. Here are the token utilities:
  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
  7. $WNT is deflationary in design. We will be performing burns of $WNT from revenue generated by the project.
Current Wicrypt is not on the exchanges but please follow our Telegram and Twitter Channels to know when the tokens will be live. 

Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Toni Dada (Wicrypt) : Our roadmap is really detailed. I can share the link here. We have been working for 3 years so here is the full roadmap since we started in 2018.
SECOND SEGMENT (TWITTER)
Crypto Library Team : Wicrypt has started its activities in Nigeria, but what are your plans to expand your business model to other latitudes? What strategies do you have for the Asian market, for example?

Toni Dada (Wicrypt) : Yes, Wicrypt actually works in Asia. It works in China. Our devices are manufactured in China. So they are properly tested in China even before being sent to Africa. We already have multiple WeChat groups and we have a Device Sales coming soon. It can work in any country. Wicrypt is also launching its token to enable it to have a global reach in a short period of time.

Crypto Library Team : I read that Wicrypt gives users the power to act as a micro ISP by allowing them to share their WiFi and get paid for doing it. Can you tell us more about this? How can someone act as a micro ISP? What requirements do users need to meet for it? How much can they get paid for it?

Toni Dada (Wicrypt) : So a micro ISP is a micro Internet Service Provider. An internet service provider is a business or an entity that gives others access to the internet. Before the invention of Wicrypt, only big telecommunication companies could provide internet access and charge customers. This means that they decided the price of the internet. With the invention of Wicrypt, the narrative is now different. Individual like me and you have been given the power to control the internet service provision the way we like. Users can create smart WiFi networks with the Wicrypt devices and provide internet services at very reduced rate when they buy in bulk. Some users that have access to free internet services can even also offer for free to their users. For a user to become a Micro ISP, you need to own one of our devices. See the device features below:
  • LYNX 304 and SPIDER B78 Are our new device models running our new Wicrypt Operating System
  • LYNX 304 is a battery powered router that can maintain up to 50 concurrent client connections
  • SPIDER B78 is a higher capacity router without and internal battery and can maintain up to 70 concurrent client connections
These devices come with improved: 
  • Range: They both have support of up to 9dBi antennas
  • Connectivity: These devices have a dual sim version to create redundancy and provide internet access even in remote regions where one network provider may fail
  • Power consumption: The LYNX 304 device is optimized to consume less power and can stay on for over 10 hours without connecting to external power source
  • Location sensing; These new devices come with inbuilt GPS to give real-time location of the devices. Hosts can decide to show location or not
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : Data security is of paramount importance when it comes to data and internet browsing. In this regard, what technologies has the Wicrypt team developed to ensure that browsing through your network routers is inviolable or tamper-resistant?

Toni Dada (Wicrypt) : We have very top-notch data security. We designed our own operating system(Wicrypt OS) to help protect users when they are connecting to a hotspot provider. Running the Wicrypt OS helps to protect users when they connect to any device.

Crypto Library Team : In you whitepaper I saw that you do mention about something called "Micro nodes", so can you explain us how this works exactly? how can we create a node?

Toni Dada (Wicrypt) : A micro-node is a Wicrypt device that runs the Wicrypt OS. The micro-node allows hosts to mine $WNT (Wicrypt Network Tokens) when they provide internet access. These nodes also provide security and privacy when accessing the internet.

Crypto Library Team : Wicrypt Platform introduce OS routers with two types called Lynx 304 & Spider B78. What are the differences of these two types of Routers? Which one is the most reliable & securable to use in Crypto fields?

Toni Dada (Wicrypt) : Both devices are very secure. The main difference in both is in size, battery and concurrent users:
  1. The Lynx 304 is a pocket device that is battery powered. The Spider is a table top. It is not battery powered
  2. The Lynx can take up to 50 concurrent users while the Spider can take up to 70
  3. The Lynx is really small. The Spider is larger
Crypto Library Team : Many blockchain projects are on paper only and don't have any product or have a product with no practical use case. Please let us know what is Coin 's current practical product in use? What are your plans for the product to be better in the future?

Toni Dada (Wicrypt) : Our product has been live for over 2 years. We have over 12,000 users and we are a profitable project. Visit wicrypt.com to learn more about our products.

Crypto Library Team : The Nigerian goverment have a very strict rules in terms of crypto so considering that you are from there, how do you manage this limitations?

Toni Dada (Wicrypt) : Wicrypt is not affected by crypto ban or rules because we are solving a real problem and you can use our service without crypto. Wicrypt has been operational for 3 years since 2018 and is going public in 2021.
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