ICO Analysis- INFINITUS, The Biggest Cure To Crypto’s Biggest Plague
Coming on board to be a part of the crypto revolution? Great! We love to meet like minded people but we also want to warn you about one of the biggest plagues of the crypto world: it’s easy to lose access to your crypto wallet. While we are concerned about Bitcoin going to the Moon, regulation, SEC meetings in the States, crypto as a mainstream currency, scaling and all that jazz, maybe we are overlooking something much more concrete: you need to have access to your beloved crypto because otherwise, nothing else matters.
It won’t matter if Bitcoin is comfortably sitting on the Moon, having a beer with Ripple while Ethereum is building a ladder for all altcoins to climb to the Moon and join the party. It won’t matter if crypto is so mainstream that you can use it at your local grocery shop. Because you just lost all your coins! Look, I don’t want to sound too catastrophic, but losing your crypto is a serious matter that has to be addressed and dealt with.
The Problem
The equivalent of millions of US Dollars have been lost because people failed to protect their wallets. You know that little button that says “Forgot your password”? Almost every site or app has it. There’s a high chance that you’ve forgotten at least one password over time, but it’s extremely easy to get a new one. Click that button we talked about, open your email, click on the link they’ve sent you and choose a new password. Really, it takes less than a minute. But things are totally different with crypto wallets!
You will never find a “Forgot your password” button on a crypto wallet. You cannot reset it, you cannot talk to the wallet developers and say: “Hey, please let me know my password” because they don’t store it — and believe me, that’s a good thing because it means you are the only one with access to it.
In case you’ve lost access to your wallet, you can restore it with the help of a private key, recovery seed (12–96 words), mnemonic phrase and other similar methods. It’s great that you can restore a wallet (and all its crypto contents, of course), but what happens if you don’t have that private key or recovery seed? Well, then all your crypto in that wallet is forever lost! That’s why it’s paramount that you don’t lose your private keys and this is where INF comes in. It stands for Infinitus and it is a Smart Designation Repository. But more importantly, it is the blockchain solution to the big blockchain problem of losing your private keys.
The Solution
“There’s no problem, only solutions.” — John Lennon
To put it bluntly… and briefly, Infinitus (INF) is your personal, impregnable vault, powered by blockchain technology. It’s the solution to your sensible private data problem.
Its purpose is to store your private keys and send them to a person designated by you if a pre-determined event occurs. The “storing” part is not taking place on your classic cloud or server. This is where blockchain tech comes in: the data is fragmented, encrypted, replicated and then, distributed for storage in all the peer-to-peer nodes over a decentralized network, using an Ethereum Smart Contract and File System Distributed Ledger Technology (FSDLT) protocol.
Infinitus (INF) dApp can be downloaded from the App Store or Google Play just like any other mobile app, from June 2018 onward and acts as an interface between you and the back-end blockchain technology. After downloading it, you type in the data you want to protect, enter the contact details of the person designated to receive the private data and then determine an inactivity period that will act as the trigger event.
When the INF mobile app detects an inactivity that matches the period you’ve set, the Ethereum Smart Contract is triggered and the private data is gathered from across the decentralized network and sent to the person you’ve designated. The “key” to all this will be the Infinitus Token (INF), which will activate the Smart Designation Repository — one INF Token activates one repository, which can store a private key, alphanumeric password, pin, mnemonic phrase, recovery seed, JSON file, UTC file and even a short text message.
If you agree with us that your wallet’s private keys and your peace of mind are important, then you’ll be interested to know that our ICO starts on June 30th and one INF Token will have a launch price of roughly $0.24 (or 0.00003 BTC). Web-based and mobile apps (like Keeper, LastPass, Dashlane) range between $1.50 and $29.99 per year but forget about price for a minute and think about something else: INF is encrypting and scattering your data in tiny bits across a decentralized network, using blockchain technology, while a web-based, “classic” app is simply storing your password on a server or cloud. The two methods are worlds apart. INF has its roots deep in the blockchain, and I think it’s high time we start using blockchain solutions to our blockchain problems.
The available supply of tokens for the Crowdsale is 30,000,000, which represents 30% of the total supply (45% was already distributed during the Pre-Sale). The Crowdsale will take place somewhere between June 30th and July 7th. Please follow INF’s official announcement for the latest news update at http://t.me/infinitustoken_ANN.
As a final word, INF Token is a utility token, not a speculative product or an investment. Its goal is to make you sleep better at night, knowing that your private keys are always retrievable and always 100% secured. Sounds good? Great, then we would love to have you on-board.
