Infinitus — A Gem In The Making
The team behind Infinitus Token always knew their project is top-notch and a much needed addition to the blockchain itself. Now they finally got some well-deserved recognition by being presented with the “Best In Blockshow” Award during the recent New York Blockchain Without Borders Summit 2018.
Infinitus CEO, Xanne Leo was a speaker at the above-mentioned Summit and was kind enough to answer a few questions about Infinitus Token as a whole, the problems it wishes to solve and the “Best In Blockshow” Award.
Q: First things first: could you explain to our readers, in simple terms what Infinitus is and what it does?
A: You don’t need to be an expert to understand Infinitus. Have you ever lost a password in your life? You probably have, or if you haven’t, I am sure you want to keep it that way.
Infinitus is a user-friendly decentralized application meant to protect your cryptos by making sure you can recover your wallet’s private key. It can also store PINs, alphanumeric passwords, recovery seeds (24–96 words), and other types of small files but you said you wanted me to keep it simple, so I won’t go further into the technical side.
Q: Ok, sounds interesting. And how does that work?
A: Once you send the Infinitus (INF) Token to the INF mobile platform, it will activate the Smart Designation Repository Contract, it will encrypt your data (private key) and scatter it in small pieces across the decentralized network.
If you need your private key for any reason — say, your laptop crashes, the USB stick used for backup fails, the piece of paper you’ve written the password on burns or gets thrown in the bin — you activate the Smart Contract and the data will be gathered back from across the network. Then it will be emailed to the person you designated (which can be you, your wife, your closest friend or basically anyone you want to).
Q: Does that mean that you will store my private key in some sort of online vault — for lack of a better term — and you give it back to me when I need it?
A: Not by far! Infinitus Token doesn’t store your data, doesn’t have access to your private key, PIN, recovery phrase, etc. and cannot change your pre-set receiver. It is a trustless system because it is essentially a smart contract that works on the “IF — THEN” premise: IF you activate the smart contract, THEN your data gets sent back to you; until then, it remains scattered across a decentralized network and we don’t have access to it. You don’t have to trust a company or person with your data.
Q: Tell me about NYC Consensus Week and your Best In Blockshow award.
A: The Blockchain Summit was something we couldn’t miss. It took place right before the start of our token sale and we want to reach as many people as possible before the launch. After all, Distributed Ledger Technology draws its strength from its network: the greater number of users, the more valuable the technology becomes.
Also, we wanted to take an active role during this Summit, we wanted to put our product out there for everyone to see. Thankfully, our efforts were fruitful, and we were recognized as Best In Blockshow, along with two other participants. It’s a great achievement and a well-deserved one.
Q: Why do you think you’ve won?
A: Because we offer a simple and tangible solution to a blockchain problem. Our project is meant to eliminate a major fear felt by everyone who holds cryptocurrencies. Let’s face it: losing access to your wallet could be devastating. Maybe the crypto market is down this week but you know it will recover next week; on the other hand, if your private key is gone… it stays gone. Unless you’ve taken the necessary precautions. Hint: Infinitus Token!
Another reason for our success and maybe the biggest perk is the ease of use. I mean, you can go to Google Play, or the App Store and simply download the Infinitus App. You don’t need to be a computer whiz to use it and you can sleep better at night knowing that you can recover your wallet at any time.
Q: What’s next for the INF team?
A: Tons of stuff! As the saying goes, our work is never done. There’s the token sale of course, which starts on tentatively June 30th, then we will launch the INF mobile apps for Android first and iOS later. There’s also exchange listing in Q3 2018; in October we plan on releasing the Alpha version of our platform. Then more marketing, research and fine tuning everything! We’ve started on the right foot and we want to keep it that way, so we will spare no effort.
Wrapping It Up — My Two Satoshis
From the looks of it, Infinitus Token is going places and the ICO launch is the best time to hop on the wagon. It’s probably time to ditch that old piece of paper and move on to blockchain solutions for blockchain problems, so I for one know that I’ll be making full use of the INF Token once it’s launched.
Thanks to all for reading and to Xanne Leo for taking the time to answer these questions.
Blockchain Enthusiast/Writer/Crypto Trader, Romania