February 25th, 2019 at 2:24 pm UTC · 3 min read
Hypnoxys (HYPX) is a project with the dream of decentralizing the ‘chatting industry’ and as such, has developed a multi-functional messenger app and protocol that delivers all the staples of instant messaging such as group chats, audio, and video calls etc., whilst also offering a native token that can be earned through using the application.
Instant messengers come in all shapes and sizes, though they typically offer simplistic over-used features that are lacking in innovation and are simply advertising revenue streams for their stakeholders. Furthermore, centralized systems have been taking advantage of user data and conversations for quite some time, and that needs to change.
With HYPX, it will change. By tapping into blockchain technology, users can rest easy knowing that their conversations aren’t visible to centralized entities. They are instead bolstered by the tech and made highly secure through encryption.
Messages for straight from the user to the blockchain without any go-betweens, they are then encrypted with a process called HYPX-crypt, making them impossible to be decrypted by anyone.
On the multiplatform Dapp (Decentralized Application), the native crypto, HYPX, can be earned by holders of the token who utilize the application and willingly accept advertising.
Additionally, when a user holds 5,000,000 HYPX tokens and adds advertising to the application, their HYPX earnings are boosted by a 1.25x multiplier, and higher revenue can be gained.
Furthermore, HYPX can be transferred between users through the Dapp, paving the way for a possible ecosystem to develop and grow in the HYPX community.
The HYPX model has proven successful with investors and users. Hypnoxys distributed over 31,000,000,000 tokens through its token sale, pre-sale, and with the help of two Denmark-based venture capital firms, raising a hard cap of $2,234,000 for the project in a matter of days.
Having launched the Open Alpha version of the Dapp which is available now, the team is now looking ahead into roadmap as it sets out to achieve its aims.
Next up in March, the team will look to have the HYPX token listed on exchanges. Then over the following months, the Dapp will receive a lot of attention as the fine-tuning including implementation of additional features will take priority, edging closer to the final product.
There are many projects, blockchain or not, who are vying for a portion of the messenger market, one that is diverse and gigantic. But none are doing in such a way where the users benefit from not only having peace of mind, knowing their discussions and data aren’t being tapped, but also having a means to passively earn crypto on the platform.
To find out more, head to the official Hypnoxys website here.
Disclaimer: Hypnoxys is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all