What is the MASK Token?
Launched in February 2021, the Mask Network’s token, MASK, represents membership in the MaskDAO, a decentralized autonomous organization where holders own and govern the ecosystem. MASK is utilized for governance, protocol incentives, DApplet development, and premium features. Each token represents a vote, allowing token holders to stake their tokens in bidding contracts to partake in governance decisions.
How does Mask Network Operate?
Mask Network sets itself apart by enabling users to add a privacy layer to their online interactions. It provides end-to-end decentralized encryption for information transmission, handling the interpretation of data. Messages are asymmetrically encrypted, using a public key for encryption and a private key for decryption. When sending a message, it’s encrypted with the recipient’s public keys and decrypted by the extension using the recipient’s private key, displaying the content in plain text.
Mask Network incorporates a blockchain wallet for various blockchain-related functions like red packet campaigns, Gitcoin grants, and cryptocurrency trading. With the extension, users can pool crypto tokens like ETH in smart contracts and share them on Twitter for other Mask Network users to claim.
Who’s Behind Mask Network?
Founded in Shanghai by Suji Yan, an ex-investigative journalist and Chinese engineer, Mask Network was preceded by Dimension, a suite of products advocating for social freedom in cyberspace. Mask Network has secured funding through several token sales, raising significant amounts to bolster its operations and liquidity.
Expanding Horizons with NFTs and Strategic Partnerships
Recently, Mask Network has expanded to include buying and selling NFTs. Partnerships with DEGO Finance and Cent have been formed to enhance NFT content and enable direct NFT trading and bidding history viewing on Twitter. The project aims to extend these functionalities to other centralized platforms like Facebook and Instagram.
In collaboration with Nym, a decentralized platform designed to prevent tracking through a metadata-shielding network, Mask Network is working on developing nodes and a private encrypted messaging service to mitigate user data leaks through centralized networks.
Mask Network as a Privacy Bridge between Web 2.0 and Web 3.0
Serving as a privacy-based bridge between Web 2.0 and Web 3.0, Mask Network provides DAApplets on centralized platforms, acting as a middleware data transfer intermediary. Similar in concept to networks like Chainlink and The Graph, Mask Network focuses more on human-centric functionalities. Believing it can reach a comparable stature to these networks, Mask Network aspires to work alongside them to enhance blockchain applications.
In conclusion, Mask Network’s innovative approach, combining privacy with blockchain’s decentralized ethos, positions it as a significant player in the evolving web landscape. As it continues to grow and evolve, the MASK token and its underlying platform are worth watching for anyone interested in the future of online privacy and blockchain integration.