A Deep Dive Into Mask Network
Mask : the Gateway to Web 3.0 on Mainstream Social Media Platforms
Kadeem Clarke
March 01, 2023
Mask : the gateway to the decentralized web
You probably use social media platforms like Instagram, Facebook, and WhatsApp on a daily basis, but have you ever thought about the cost of their convenience?
Centralized social networking sites can be problematic with data breaches, censorship, privacy violations, and more. That's why more and more developers and businesses are turning to Web 3 social media platforms for their advantages over traditional social media.
However, you don't have to abandon your favorite platforms just yet.
The Mask Network extension acts as a gateway to the decentralized web, allowing you to access Web 3.0 within existing mainstream platforms.
In this report, we'll explore how Mask Network is bridging the gap between Web 2.0 and Web 3.0.
Mask Network
‘Mask is the bridge; Mask is the foundation; Mask is the meme.’
Regaining decentralized control over user data is a crucial component of Web 3.0, which also aims to create an open internet resistant to censorship; that's where blockchain comes in.
Users of well-known social media platforms can send cryptocurrency, engage with decentralized applications, and share encrypted content thanks to Mask Network. Through the MaskDAO, holders of MASK tokens can vote on ecosystem initiatives.
History of Mask Network
The Mask Network was founded by Suji Yan, who also serves as its CEO. Suji Yan is currently a mentor of RadicalxChange Fellowship and has co-authored articles with RadicalxChange.
The South China Morning Post, Wired, the New York Times, the Wall Street Journal, and other newspapers have all written about his work. He is currently focusing on encryption, open source, and privacy protection.
In one of the Roundtable discussions in 2021, Suji Yan stated:
"In the future, every message you update on Twitter and Instagram can become an NFT, which means that every tweet has its share of digital property rights and can be used for financing, all the functioning of finance and financing of the center of the world is centralized, viewed as infrastructure. In this aspect, there are greater development opportunities."
The Problem that Mask is addressing
The problem that Mask Network seeks to address is the current dominance of technology companies on the internet.
This impacts how users interact with the online world, including what they publish, what they see, and who they contact.
Users typically only have full ownership of the content they upload because Web 2.0 platforms today can only remove content if it complies with the company's policies.
In addition, the platform thinks that social media is the source of many problems.
Users need help accessing cross-border payment processing, long-term file storage and lack truly secure encryption. Users cannot stop social media platforms from using their data and labor, and that's how social media platforms benefit from this.
The Solution : The Mask Network Extension
Mask Network seeks to solve the issues mentioned above with the Mask Network extension.
The website notes that users can install the Mask Network extension, log in with their Mask IDs, and connect their wallets.
This way, users can use familiar Web 2.0 sites with Web 3.0 integrations.
The extension supports blockchains like Ethereum, Binance Smart Chain, Polygon, etc. Mask Network also complies with various social media sites like Twitter and Facebook.
How does Mask Network bring privacy and benefits from Web3 to social media like Facebook and Twitter with an open-sourced browser extension?
How can you be sure that Facebook or other social media companies won't block access? Asked CoinDesk.
Suji Yan responded:
"We don't use APIs. There's no server interaction or middleware. One common mistake is to believe [Facebook]; you just can't believe in them. So we never use any APIs. Zero. We learn the technology, but we don't rely on any of them. There is no way to block us."
In what ways can Mask be used?
Users can do various things with the Mask Network extension:
Limit who sees their content to their intended audience and keep it hidden from prying eyes
Encrypt messages sent by users
View the most recent cryptocurrency asset prices without leaving social media sites thanks to integrated widgets; platforms like Uniswap, SushiSwap, etc., manage this function
Create their own Web 3.0 profile and keep track of their online activities, such as NFTs and donation information, in one place. Users have the option of keeping information on their profiles anonymous or not
Trade NFTs directly from social media platforms. This feature is powered by the NFT marketplace OpenSea
Store files on a decentralized network
MASK has various versions…
Mask Network has multiple versions to fit into different parts of the web ecosystem.
Both an official Android & iOS app and a first-party Chrome/Firefox extension are available for Mask.
Additionally, they are looking for social network clients from outside companies to integrate Mask Network and assist current users in navigating the new internet.
It was encouraging to see that Twidere, the largest third-party Twitter/Mastodon application with more than 500,000 installations, users welcomed Mask as one of its critical third-party client partners.
Mask has received critical acclaim and has been chosen as a member of ECMA/TC39 (one of only three from the blockchain community). Together with tech titans like Apple/Google and alliances like MetaMask, Mask is establishing JavaScript standards and pushing the boundaries of the new Web.
All about MASK Tokens
The native utility token of Mask Network is $MASK.
$MASK controls the Mask ecosystem. In DAO-related voting processes, every $MASK token is equivalent to one vote.
In addition, Mask Network plans to start the Mask Grant Program to fund projects that can add to or integrate with the crypto ecosystem powered by Mask Network.
Mask Network introduced $MASK tokens via an initial Twitter offering (ITO). ITOs are a decentralized asset offering that lets Twitter users directly participate in token launches.
ITO functionality is available on the Ethereum, Binance Smart Chain, and Polygon blockchain networks. On Twitter, users can participate in a token launch. According to the platform, ITO announcements of $MASK tokens are made on their Twitter handle, blogs, and other social media channels.
Additionally, users who provide liquidity to the QuickSwapliquidity pool can earn $MASK tokens. Besides that, users can stake $QUICK tokens to obtain $MASK tokens.
The chart below shows the gradual increase of the circulating supply as tokens unlock:
377% In 7 Days!
Last year in November, the price of the MASK token rose from $1.21 to $5.77 in only seven days, an increase of 377%
The rally came off the news that Elon Musk is planning to build a payments system for Twitter that could support cryptocurrencies in the future. Although Musk wants it "first and foremost" to be for fiat currencies, he wants the ability to add cryptocurrencies later.
Mask Network on social media
On January 19th, 2023, 583 out of 1,661,516 social media posts on Twitter and Reddit mentioned Mask Network. Compared to January 18th, there has been an increase of 29.84%.
Regarding most mentions and activity from gathered posts, Mask Network is being discussed by 54 people and is ranked #341. The sentiment score for Mask Network over the previous 24 hours on all social media platforms has been 3.3/5.
The latest updates from Mask
According to a recent tweet on January 30th, Mask Network announced several updates in their latest version (v2.17.4)
"More" tab & Profile Cards for NFT projects
More accurate token & NFT info with DSearch
Many new features in Web3 File Service
Check out people's Lens Protocol Handles in Web3 Profile Cards
Support for Clover Wallet
The latest features from Mask
The Web3 revolution is spreading like wildfire
Decentralized social networks will indeed have their time.
Social networks continue to serve as public forums and an exchange of ideas in the Web3 era. We all will feel the cultural, financial, and social effects of the Web3 revolution throughout all facets of the internet.
From this perspective, the preconditions of the revolution are all in place:
An independent treasury (BTC, ETH)
A separate financial system (Defi)
Independent art and culture alliance (NFT)
New ways of human collaboration and organizing labor forces (DAOs)
The primary goal of the Web3 social networks is not to create a blockchain equivalent of the Web2 giants but rather to use cutting-edge designs and technologies to combat their centralized and monopolistic behavior and wrest back control of information and digital identities from the platforms to the internet users.
The Web3 revolution is here, bringing new financial systems, cultural icons, and labor force organizations.
For Web3 citizens who yearn for freedom and autonomy, these prerequisites strengthen the pursuit of an open, transparent, and impartial public forum and information marketplace free from political interference.
Decentralized social networks are currently the most recent phase of this revolution.
Mask Network should be on your radar in the upcoming year because it is developing new ways to use blockchain technology to move us toward a more connected, secure future.