Mask Network

What is Mask Network?

Mask Network serves as a portal enabling users to effortlessly transmit encrypted messages, cryptocurrencies, and various decentralized applications (DApps), such as DeFi, NFTs, and DAO, directly over existing social networks without the need for migration. This facilitates the establishment of a decentralized Applet (DApplet) ecosystem. In essence, the objective is to seamlessly connect the emerging Open Internet onto the existing one.

The overarching goal of Mask Network is to act as a bridge between Web2 (the current web) and Web3. This aims to empower the general public to access the advantages of the improved web within mainstream platforms, all without relying on APIs or centralized servers.

---

Recent Video Interview

Main points of the interview:

• Mask Network's fundraising journey, raising nearly $50 million across multiple rounds.
• Mask Network facilitates interactions across platforms like Twitter and Facebook.
• Innovative applications like NFTs and decentralized file storage built on Mask.
• Geopolitical impacts of crypto, reflecting on decentralization's contrast with centralized systems.

---

Mask Network's Vision

In the digital landscape dominated by tech giants, a unique initiative seeks to create a new layer above existing platforms. Leveraging cryptography and Web 3 tech like blockchain and decentralized storage, it aims to enhance Internet experiences. Drawing from the historical shift in computing, the focus is not to overthrow but to innovate. By integrating Web 3 components, the initiative addresses limitations in social networks, offering users greater control and enhanced functionalities.

How Does Mask Network Work?

The system operates through encryption and interpretation functions, enabling a range of activities like information transmission, including text, images, cryptocurrency, decentralized data storage, and smart contracts. Within Mask Network, users can generate multiple 'personas,' each representing a secp256k1 key pair. Public keys are shared on social profiles, and others create a pubkey-username mapping.

The encryption process involves AES256 key encryption in GCM mode for each post, ensuring only one unique cipher post is shared. The AES key is asymmetrically encrypted with ECIES using the post creator's private key and recipients' public keys. Encrypted AES keys are stored on decentralized GunDB nodes, ensuring end-to-end encryption. Though perfect forward secrecy is not yet supported, it's planned for an upgrade.

Cipher messages are injected into social platforms' interfaces alongside Mask Network components, reducing unfamiliarity for existing users. When encountering a cipher post on Twitter or Facebook, Mask Network decodes the message and checks if the user can decrypt it. If so, it queries GunDB for the encrypted AES key, decrypts it with the user's private key, and displays the plain text on the user interface.

Mask Network's Usage Regarding Finance and E-commerce

Mask Network is leading the charge in revolutionizing personal finance with the imminent launch of a Twitter trading widget, powered by CMC and Uniswap, slated for September 24th. This represents a significant stride in reshaping the financial landscape, with future plans including the introduction of a comprehensive suite of decentralized finance (DeFi) apps on popular social platforms. Within the Mask Network platform, users can seamlessly engage in diverse financial activities, spanning payments, token trading, borrowing, and portfolio analysis, among others. Despite challenges on the road to widespread adoption, the Mask Network team is dedicated to a methodical approach in overcoming them.

Decentralized storage takes center stage within Mask Network, fundamentally altering how multimedia content is distributed across the internet. With support from Arweave, users can effortlessly share files on platforms like Twitter and Facebook. The platform's focus extends to e-commerce, where it not only unlocks multimedia content but also supports mid-tier creators through donations, addressing anti-censorship concerns. The decentralized nature of Mask Network provides a neutral ground for navigating regulatory challenges, offering a promising future for personal finance and content distribution within the digital landscape.

Mask Network Team Background

Suji Yan is the founder of Mask Network. Before establishing Mask Network, Yan had previously founded Dimension, a series of products designed to champion social liberty within the cypherpunk movement. The focus of Dimension centers on advocating for the "Right of Cryptography and Freedom of Interpretation."

Mask Network Project Development

Mask Network is excited to announce the acquisition of the team behind RARA, a social curation protocol. As part of Mask's ecosystem of Web3 social builders, the RARA team will continue developing applications and tools for RARA. The goal of RARA's protocol is to empower curators by providing a voice to a diverse range of interests. Pronounced as "Rah rah!" like a cheer, RARA aims to make it easier for individuals to carry their likes and interests across the Internet, similar to their NFTs.

RARA founder Lawson Bae expressed the vision of opening up the curation graph for NFTs and moving away from centralized algorithms to create opportunities for social network builders. This approach contributes to building a more personalized Internet where every voice can connect with its community. With RARA, social network and NFT app builders can enhance their platforms by adding live and historical commentary for NFTs, introducing new users to Web3 through free collectibles called RA! like tokens for curating, and personalizing social feeds and NFT recommendations based on individual preferences.

Mask Network Price Analysis

As of November 24 2024 Mask Network has a marketcap of $320M. This is {{percentagefromath}} from its all time high of $41.45. In terms of its tokenomics, there's a total supply of 100M with 100% currently outstanding. Keep in mind Mask Network has a fully diluted value of $320M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.