Mask Network (MASK) Research

Mask Network (MASK) Research Details

Mask Network (MASK) Mask Network

INTRODUCTION

The Mask Network acts as a link between Web 2.0 and Web 3.0 for Internet users. Web 3.0 is about decentralized networks and artificial intelligence, while Web 2.0 is about websites with user-generated content and social networks that are controlled by a central server.

Mask Network is primarily a peer-to-peer encrypted messaging application built on Ethereum for social networks such as Twitter and Facebook. In particular, it is a portal that enables users to send encrypted messages, cryptocurrencies, and decentralized applications. Initially, Mask Network was only a widget that permitted Twitter and Facebook users to encrypt their messages across the two social networks.


HISTORY AND FOUNDER

Mask Network was started in Shanghai by Suji Yan, a Chinese former journalist, and engineer. Prior to founding Mask Network, Yan founded Dimension, a cyberspace area for a collection of items advocating for social liberty. In addition to its other projects, such as TesserPG and Twidere, Dimension is now developing and maintaining Mask Network.


REASON TO BUILD THE PROJECT


There are a lot of problems that Mask helps users solve. For one thing, the network takes social media privacy to an entirely new level. Today, social media is one of the best ways for people to stay in touch with friends and family. However, these networks do not provide appropriate privacy protection.

Mask introduces a number of proprietary features that make it a good choice for those who need greater anonymity and privacy in their online posts. The system's messaging application includes robust end-to-end encryption. Once you send your message, not even Mask can decrypt and read it.

The Mask protocol also assists in overcoming technological obstacles to adoption. For example, the platform makes it easier to use because it comes in a very easy-to-use mobile Dapp. The Dapp is accessible on multiple platforms, including Chrome, iOS, and Android, as well as Chromium-based browsers like Brave. In this manner, Mask enables new users to interact with decentralized applications in new ways.



BASE OF PROJECT

Mask Network is distinctive in the sense that it allows users to add a layer of secrecy to their online activities. To do this, Mask Network uses decentralized end-to-end encryption for sending and receiving information and manages how information is interpreted.

As per Mask Network, messages are encrypted in an asymmetric way. For this type of encryption, two keys are needed: the public key to encrypt and the private key to decrypt. When a message is sent over the Mask Network, it is encrypted using the public keys of the specified receivers. When a designated recipient gets a message encrypted by Mask Network, the extension will use the recipient's private key to decrypt the message. After the message is decrypted, the contents will be shown in plain text.


USE CASE

Mask Network's token, MASK, came out in February 2021. MASK holders are members of a decentralized organization (DAO) called MaskDAO, which gives them ownership of the ecosystem. MASK is utilized for governance, protocol incentivization, DApplet development, and premium functions. Each token denotes one vote, and token holders cast votes by staking their tokens on proposal contracts.


MAJOR NEWS AND EVENTS


DATE

NEWS/EVENTS

IMPACT

01/11/2022

Binance declared it would launch Bluebird Index perpetual contracts with up to 25x leverage. The index will include Binance Coin, Dogecoin, and Mask Network

+48% Increase

01/04/2021

Mask Network has obtained a strategic investment from Binance and is now building a Web 3.0 multichain universe

+57% Increase


CONCLUSION

Mask Network's base is a peer-to-peer encrypted messaging application on which DApplets are regularly developed to give blockchain-related capabilities. It is simple to use, and each user only needs to add an extension to a major web browser. Mask Network's extension adds decentralization to centralised social networks such as Facebook and Twitter. With the help of various partnerships and investment Mask Network is now planning to expand into NFTs and other encrypted messaging services.


DISCLAIMER

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto products are currently unregulated and subject to market risk. Please seek independent financial advice or do your own research before investing.