Wicrypt is a wireless and decentralized internet system that allows users to share their internet with others while earning from it. These earnings are in the form of tokens on the Wicrypt network, which can be traded and converted into other currencies.
People accessing the devices or apps need to create a node and enter the Wicrypt ecosystem and can also share their internet with other users, businesses and family members through a hotspot system. The idea is to create a connection that makes an internet connection available to more people around the world with minimal barrier to entry. Wicrypt makes this possible with the blockchain infrastructure. Let’s find out how.
Why Wicrypt
The Data for global internet penetration shows that many people in the world do not have access to it, let alone a fast and stable connection. While several steps have been taken, such as the “government policy on the internet must be rights-based and user-centric” intervention by the United Nations to address the issue, providing the internet is still widely viewed as a lucrative endeavor rather than a basic human right.
Other negative trends in internet distribution around the world include the monopolization of these services by some ISPs, who can control what users can access, thus encouraging censorship. Some of these ISPs lack transparency in their services to users. Therefore, ISPs do not always take into account the lost time their users had when their services were down or during periods of poor network connectivity.
For the Internet to deepen and serve the world’s population of 8 billion people, it requires a more cost-effective, decentralized, and easy-to-deploy system that can be accessed by anyone, anywhere in the world. The growth of technologies like IoT has necessitated the importance of the internet.
This Wicrypt creates a network that brings the internet to users around the world while leveraging existing infrastructures. Wicrypt bridges the $1.1 trillion centralized ISP market and the decentralized token world.
This is how Wicrypt works
The three most important parts of the Wicrypt network are the hotspot hosts (physical and digital), users, and the decentralized team that manages the project. Users who wish to provide Internet service access to others must start a local area network, purchase the $WNT and deploy it (physical hotspot hosts only). The local network requires the purchase of the Wicrypt hotspot hub – a device that activates the Wicrypt system.
In the next step, set up the hotspot Manual created by Wicrypt. Once this is done, a user would need to download the Wicrypt app Android or iOS. Users can get information about the performance of their hotspots through the app.
Hotspot providers can do that too Update their accounts on Wicrypt for better performance and services. The final step is to set up Explorer, which will enable earning $WNT. As a hotspot provider, the Wicrypt device allows you to switch from one Internet provider to another using its dual SIM functionality.
Besides this physical host, there is the digital host of Wicrypt hotspot. Digital hosts do not need to purchase physical devices. This group of hosts that rely on the Wicrypt decentralized network need to buy an NFT that makes them part of the network and also benefit from the profits made by digital hosts. The NFT is a “Proof of Attendance” material and not a physical device.
Users who want to connect to the Wicrypt network need to download the app first. The Wicrypt app shows a map with multiple Wicrypt hotspots available within that user’s geographic location. These connected customers can use their mobile phones, laptops, PCs, smart TVs, smart watches and IoTs to use the Wicrypt service.
Those hosting the hotspots are paid by users accessing their hotspots. These payments are accessible in the hotspot provider’s wallet in the Wicrypt app. The app, which hosts all $WNT earned from hotspot hosts, can also transact using BTC, ETH, and other cryptocurrencies.
How to earn with Wicrypt
Users can earn on Wicrypt by sharing their hotspots with others. They can also earn by putting their $WNT into the proof-of-stake pool that secures the network. Another way to make money is by using the referral system. This is done through the Wicrypt app.
Tokenomics by Wicrypt
The Wicrypt project works with a token called Wicrypt Network Token ($WNT) and has several functions it plays for different users.
$WNT is a polygon-based token utility and governance token with a total supply of 200,000,000 and is currently tradable on exchanges such as Quickswap and MEXC.
As a utility token, $WNT is used to pay for services used by those on the Wicrypt network. Although settlements can also be made in stablecoins, $WNT is the basic payment currency for Wicrypt users.
As a governance token, $WNT holders who stake their assets on the network earn points that determine their voting rights. This voting right determines who can make suggestions and vote for or against suggestions related to the development of Wicrypt.
In situations where holders wish to delegate their voting rights, partial permission will not be accepted. Thus, users can either delegate 100% of their rights to another single user or delegate none.
Team and Partners of Wicrypt
Ugochukwu Aronu, the CEO and co-founder of Wicrypt, is an entrepreneur with extensive background and experience in software development, finance and blockchain development. The University of Nigeria alumni worked at KPMG Nigeria, developing and founding a crypto wallet in 2017 Xend Finance.
Tony Dada, a data analyst with more than 14 years of experience in strategy development, digital transformation, customer value management and business intelligence, is COO of Wicrypt. Tony, the founder of Enterscale Servicesa startup growth company, has worked for top companies such as MTN, TMT, Migo (formerly kwikmoney), 9mobile and more.
complete stage, a software engineer and graduate of Nnamdi Azikiwe University, is the co-founder of Wicrypt. He has been involved in leading technical teams and developing products such as Paylot, Obiex Finance and Dispacha. Ogbo also creates blockchain-based projects.
Nweke Chukwuemeka, another Nnamdi Azikiwe University graduate and software engineer, is also a co-founder of Wicrypt. From healthcare to supply chain to blockchain and payment systems, Nweke has helped develop products for multiple companies. With a specialization in designing distributed systems, blockchain projects and writing robust smart contracts, he acts as a consultant for Xend Finance, Binary Hills and Ugarsoft.
Ayodele Olabiyi is Head of Innovation and Data Science at Wicrypt. Award-winning data scientist, mathematician and certified Mixpanel implementation partner has worked at MTN Nigeria and is an active contributor to Data Science Nigeria.
On the Wicrypt team is Father Chibueze who is the Senior Technical Consultant. He is a software developer with over a decade of experience. His achievements include winning the USPF National Hackathon in 2015 and developing an antivirus with advanced heuristics and knowledge of Windows internals.
Partners and investors include Enugu State Government, Nigeria; Polygon; N7 Laboratories; inclusion capital; Africa 50; AU21 Capital; And more.
Future of Wicrypt
The future of Wicrypt revolves around building stimulus loansthe development of a decentralized storage cloudAnd NFT based router recovery. Stimulus loans allow $WNT holders to add their token to the Wicrypt lending pool and earn returns over time.
The decentralized storage cloud will bring more earning opportunities to hosts that provide external storage facilities to Wicrypt users. Furthermore, Wicrypt is connected Filecointo improve data storage in a decentralized system. The NFT recovery system is designed to secure NFT-based routers – digital hosts on Wicrypt.
Wicrypt aims to give everyone around the world access to the internet in the easiest, cheapest and fastest way without compromising security, while also making users money.
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