Review on HYPNOXYS by gregori cordova
this project had a promising idea but failed to deliver due to little credibility
This is one of many projects that is geared towards a particular topic. In this case it is with the instant messaging industry. Their proposal was to create a platform where the security of their chats were encrypted and transparent, using blockchain technology.
Since today chat apps are among the most common applications, it is very difficult to find one in which you feel safe when sharing your private data, since most of the apps on the market sell your data without your consent, as happened previously with Facebook. Hypnoxys wanted to end this problem by offering a multifunctional p2p app called Hypx, where your messages were encrypted from end to end, based on principles of absolute decentralization and security.
This application would use its own HYPX token with which users were rewarded as they spent more time using the app and sending messages with their acquaintances, in the same way as they do on other platforms. The most active users also had the possibility to earn Hypx tokens with ads that appeared while you were using the app, they even had a referral system, in which you earned a percentage for each friend who downloaded the application and a percentage of their earnings. Users who freeze about 5 million hyps tokens would have an accelerator that multiplied their profits daily.
This project could never fulfill its mission, since the application was never launched. In their twitter account they use bots with positive comments to promote themselves, and try to attract users. There is no information other than its developers, which generated more distrust in this project, which seemed promising, but which today is considered another of the many cryptocurrencies abandoned for not having acceptance.
Pros
- They had a very promising and innovative idea in the messaging app market
Cons
- They used bots that placed positive comments on their social networks to promote themselves and attract users
- They weren't listed on any famous exchange
- On their website they claimed to have 55,000 downloads, but in reality the app never went on the market
- The developers are a mystery
- They did not have a roadmap with specifications about the token
- The number of tokens created is huge, compared to the market capitalization
- Their daily trading volume is zero today
- It is one of the dead cryptocurrencies that are still listed in coinmarketcap
