July 29-th held an Ask Me Anything session at ICO Speaks telegram chat. From the Ethernity Cloud side there were:
Ioan Munteanu | Business Development Officer | @IoanMnt
Over 15 years experience in consulting high profile companies and fascinated by innovative software and blockchain
Andrei Butoi | Strategic Partnership Officer | @dim3nsi0n32
DevOps with more than 20 years of experience in the IT Sector occupying various roles with focus on Quality and Delivery
Let’s get started!
Q: What does Ethernity CLOUD aim to solve or improve in its respective industry?
A: Currently the cloud computing market is very centralized and controlled only a few big cloud providers. These giants can not only gather metadata about what is processed by their hardware, but they could potentially alter the execution environment and change the results of the processing tasks. Ethernity CLOUD ensures that all tasks executed on the network are ran on a Trusted Execution Environment which ensures that nobody can alter the tasks that are ran on the platform and the data is encrypted while at rest, in transit and during processing. Customers can run cloud computing activities over the decentralized network while maintaining complete control over the confidentiality, anonymity and reproducibility of the process. Additionally, we believe that all this can be achieved while maintaining a low cost of operation.
Q: What’s the marketing plan for mass adoption of the product once it’s ready?
A: Besides the marketing campaigns though the traditional social media channels we are actively engaging with the scientific community and we are continuously looking for new partners which could benefit by using our technology. We already can name partnerships with Bloxberg, Institute for Internet Security and Bank of Memories. We also joined the Confidential Computing Consortium recently, and we are looking forward to support early adoption of confidential computing. Moving forward we will expand our reach by increasing awareness of what this technology can do and it’s limitless potential.
Q: Are there any direct competitors to Ethernity CLOUD?
A: At the moment we think that our main competitors are iExec and Internet Computer, but neither of them leverages the Trusted Execution Environment and are not offering the same level of privacy as our offering. We are also protecting our IP by having a patent for innovation published in Germany.
Q: What kind of Token is Ethernity CLOUD and how can token holders’ benefit?
A: ETNY is a utility token which can be exchanged for cloud processing power. Anyone who holds ETNY will be able to execute tasks on the platform. The possibilities are limitless. Scientific research, transcoding/decoding videos, crypto token custodian services to name just a few.
Q: What are the Ethernity CLOUD tokenomics?
A: We recently updated our tokenomics, you can have a look here – https://ethernity.cloud/whitepaper/ETHERNITY_token_economy_whitepaper.pdf
Q: How is the product development progressing/is there a demo ready? What’s coming next?
A: We already have an MVP which can be seen at https://pox.ethernity.cloud. Alternatively our test net is up and running. Anybody can execute tasks for free if they are interested. We are working hard behind the scenes towards a finished product.
Q:What’s the USP of Ethernity CLOUD and the catalyst that can drive the project towards success?
A: While focusing on our four core values: decentralization, privacy, anonymity and availability we believe that our project can be the bridge between the node operators which will provide the hardware, the developers who will create the templates for ETNY rewards and the buyers which are seeking total privacy for a fair cost while having the peace of mind that their content is encrypted and safe all the time. The cloud computing market is forecasted to reach 1 trillion dollars per year and our low-cost solution combined with the benefit of added privacy will make a compelling alternative to the current environment.
Q:Can you share more details about the staking program for early adopters?
A: Currently we cannot disclose the full details of the staking program as we are ironing out last minute details. What we can say at the moment is that an active node is required by an operator to receive the staking rewards. We think that this decision will increase the rapid adoption of ETNY while offering sufficient processing power to the potential buyers.
Q: Where is Ethernity CLOUD going to be listed?
A: Currently we are focusing on our ICO which will take part in Q3 2021, most likely at the end of September and it’s premature to talk about listings on Exchanges. It all depends on the market conditions at that moment in time.
Q:When are you going to have the Public Sale, can you give us more details about the amount of tokens, price, etc?
A: We will have the Public Sale in Q3 of 2021. More details will be made public shortly before the start of the Public Sale. In the meantime, you can register your interest here: https://ethernity.cloud/token.html
Q: Can I buy your tokens right now and also which wallet support your token?
A: Right now you cannot buy our token , you can do that in the ICO and that will be in Q3 2021 . Meanwhile you can register your interest on our website . You can use any wallet that supports ERC20
Q: Can you list 1-3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
A: Our project offers confidential computing while none of the competitors are offering it as far as we are aware. No one other than the buyer will be able to see or alter the computation process. We believe this is going to be very important as cloud computing services will only grow in the future.
Q: Do you intend to burn tokens in the future to lower your token supply and attract customers to invest on your project?
A: We are planning on token burn when a computation task is agreed to be executed by a node, we will provide more details soon!
Q:How can I buy this tokens? Is it available on any exchange?
A: The tokens are not avaiable on any exchange right now
Q: Where can I buy your token, does Kyc is must?
A: For our pre-sale KYC will be mandatory, yes.
Q: This is global project or a local project? Can anyone use your project anywhere without any restrictions?
A: This is a global project and will be used globally. There are no geographical restrictions to become a node operator or a buyer.
Q: How will you handle the panic of your Investors?
A: We have a token lock for the team of 2 years and 1 year for those who bought in private sale. We will provide staking rewards for our node operators and because of this reason we believe our token won’t be dumped at launch
ICOSpeaks hosted an AMA Session with the Ethernity Team. That’s all for today.
Thanks to all users who participated.
Thanks, Ethernity for being with us
Thanks, all and see you soon😉
Take a look at our other ama sessions