Conceal Network and The Wolfonaire AMA Recap — November 11th, 2021
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Hello Concealers! We held an AMA on the Wolfonaire Telegram group on November 11th, 2021. Several team members of the Conceal Network joined to discuss the project, including — Head of Operations Krypt0x, Head of Business Development Okanist, and Head of Development Taegus.
The team expressed all the products they are currently working on and some important milestones they have achieved and plan to accomplish in the near future. Furthermore, they discussed their goal of becoming a private and secure ecosystem for the decentralization of financial services and communication. So, if you missed our AMA, you can check out the full AMA recap below!
Wolf
First of all very warmly welcome here in Wolfonaire Family Chatbox. Thanks #Conceal team for taking some time from your busy schedule to help our community to learn more about one of the amazing platform:-
https://conceal.network
Wolf
As per usual, I’ll start things off with a few questions for the team before opening things up for community Q&A. Rewards will be given to the top questions with 200$ worth of $USDT In Total.
Wolf
Welcome
Wolf
@concealkrypt0x
Wolf
@Mr_Kwibs
Wolf
@Taegus
Wolf
🌹 💐 🏵 🥀 🌹 💐 🏵 🥀 🌹 💐 🏵 🥀
Krypt0x ✪
Hi, it’s a pleasure to be part of this AMA. Thank you
Wolf
Lets move for introduction round
Wolf
Please give us a short introduction about your Team
Taegus
Hi all, Pleasure to meet you all
Taegus
I am head of development at Conceal.
Krypt0x ✪
[In reply to Wolf]
We have a collection of very eclectic and driven individuals who are hyper focused on progress. We all come from different backgrounds, cultures and even different parts of the world. However, we definitely all have one common goal and that is to create a private and secure ecosystem for both the decentralization of financial services and communication. Privacy is very important to us. The autonomy that privacy provides is essential to Conceal Network. Privacy enables us to protect ourselves from unauthorized monitoring in our lives. This freedom gives us the ability to be who we want to be and interact with the world around us, without being judged or discriminated against. Privacy is a fundamental right for everyone. As a team, we all strive for a better future for everyone. Collectively, we value four fundamental pillars that serve as the foundation for our ecosystem and community: privacy, social inclusion, decentralization and censorship resistance.
Taegus
I think this sums it up nicely. If you have any specific questions about the team, please ask
Wolf
Amazing 👏
Wolf
For our members who are not already familiar with the project, can you give us a very high-level overview of what #Conceal is and what competitive edge it brings to the Crypto Universe?
Krypt0x ✪
[In reply to Wolf]
Conceal is a censorship-resistant and decentralized blockchain network that provides a privacy framework for social inclusion through decentralization of financial services and communication. Financial freedom should not come at the expense of the system’s users losing their privacy in order to participate. All transactions are private and untraceable. Conceal is a community-driven and open source project that solves the lack of privacy protection and coin fungibility verified in other cryptocurrencies. The project is working towards social inclusion through decentralization of financial services.
Krypt0x ✪
We may have come at a crucial time in human history. Blockchain will only work out if there’s enough focus on improving privacy and anonymity. Projects like Conceal have high relevance beyond breaking existing censorship mechanisms. Conceal offers a way for us to control our own destiny. For the very first time in the history of the world, we have a way to generate and distribute money, communicate and earn compound interest anonymously and without a central power.
We’re fighting for a world where technology puts users at the center. Not corporations, not governments, not advertisers. People will have control over the money they rightfully earned in with their privacy protected. $CCX mimics the properties of cash. Nobody should know or interfere how or where you spend your folding cash. That is freedom. Conceal restores freedom back to people.
Krypt0x ✪
If you would like to know more about our project please read this article https://concealnetwork.medium.com/what-is-conceal-28c8468b038d
Wolf
Interesting 👏
Wolf
How do holders of the #Conceal Network Tokens benefit in the ecosystem? What power within your model do individuals hold? Why is it so attractive and what are the basic requirements to participate?
Krypt0x ✪
[In reply to Wolf]
Mainstream banking practices are marginalizing a large section of the world population. It has been estimated that 2 billion working-age adults globally have no access to the types of formal financial services delivered by regulated financial institutions. All types of social exclusion rob individuals of dignity, security, and the opportunity to lead a better life. For example, In the United States this condition represents a third of the Hispanic community born in America and half the foreign Hispanic community living in the United States remain unbanked.
Individuals with identified characteristics could be marginalized when trying to open bank accounts, asking for a loan, getting a worst credit score, etc.
Financial inclusion is where individuals and businesses have access to useful and affordable financial products and services that meet their needs that are delivered in a responsible and sustainable way. Financial inclusion is defined as the availability and equality of opportunities to access financial services. One of its aims is to get the unbanked and underbanked to have better access to financial services.
Our concept of financial inclusion is to provide decentralized finance services for everyone, based on their developmental needs and providing them with easy and minimal requirements to open savings and current cryptocurrency accounts without discrimination.
Traditional financial institutions often segregate who can access financial services, like banking. Those discriminated individuals could be offered free banking services through decentralized blockchain technologies. In the near future, the majority of low-income people all over the world will do their banking using cryptographic distributed systems. Traditional financial institutions have completely failed low income people.
Cryptographic distributed systems have significantly lowered fixed costs, as opposed to traditional financial institutions, and consequently, allows everyone to benefit from financial inclusion. The poor will be able to make transfers of value at an extremely low cost. Participating in the Conceal Network will allow them the added benefit of being able to save and earn interest on those investments, giving them an opportunity to climb out of poverty. The effects on poor communities globally will be transformational. Conceal allows extremely small amounts to be used in its financial system. For example, transfers equivalent to a few dollars can be made. Our decentralized banking allows savers to put very small.
Krypt0x ✪
Censorship-resistance implies that everyone can transact with the network on the same terms, regardless of their personal identifying characteristics. If true censorship-resistance is to be achieved, then users should not be able to exclude others from information (amounts can’t be hidden). Censorship resistant money means you can spend your money anywhere, the way you like and without anyone’s approval. A censorship resistant network is a system explicitly designed to resist coercion and control by centralized powers. No one entity or person can freeze or seize your funds.
Our primary objective is to provide a privacy framework for social inclusion through decentralization of financial services and communication and these two features are basically the foundation base of it.
Krypt0x ✪
People who see centralized systems as the answer to everything have usually only lived in a stable country for their whole lives. A few days in an unstable country would change their minds very quickly. Imagine you lived in a war zone right now. Your central infrastructure is destroyed, as is your money. You don’t want the war, but there’s nothing you can do about it. Now your house is gone, your friends and family are dead, your banks have been bombed and you’re cast out, adrift, homeless and penniless. Even worse, nobody wants you. The world has shifted from open borders to building walls everywhere. You’re not welcome anywhere, you can’t stay where you are and you’re broke. Now imagine, your money is still accessible and recorded on the blockchain, waiting for you to download and restore your wallet? How much easier would it be to start your life over? A decentralized privacy-protected blockchain technology, offers financial stability to those that live in an unstable world.
Conceal users not only could GPU mine CCX and get rewarded for it but they are also able to get compound interest if they deposit their coins for a a chosen term. There are bridges with other platforms (ETH, BSC and Polygon) as well, that work has privacy gateway to our main chain. Any community member could participate in the network and contribute in the project. All team members stepped up from the community.
Wolf
Amazing 👏
Wolf
Have you met all your goals in the roadmap till now? And were there any difficulties that you didn’t expect and were not prepared for?
Taegus
So far we met almost all of our goals set in the roadmap. At least all important ones. Over the 3 years Conceal has made a rich and vibrant ecosystem for its users so they have many tools and products to use on top of the privacy enabled blockchain. I would not say we had any real difficulties. Maybe our biggest problem is that most of the team works in their free time. If we manage to work on CCX full-time that will only launch the project forward faster.
Krypt0x ✪
[In reply to Wolf]
Yes, we have met all our goals but attending we are a community-driven project we need to rely on volunteers work availability and in the community decision-making process. Most of the time we need to set long deadlines to complete achievements and all along the way we are dependent on community consensus. Once in a while we need to change the roadmap accordingly what’s being decided/voted by the majority.
Wolf
Thanks for the details Guys
Wolf
👏
Wolf
Final Question
Wolf
Can you please give us a short tutorial on how even a non-tech guy can easily use and enjoy your platform?
Taegus
[In reply to Wolf]
That is one of our top goals. To bring privacy and financial freedom to everyone. A lot of projects focus only on the tech and they forget that in order for the new revolutionary tech to be used it needs to also be simple and user friendly. That is the same process internet went through years ago. Conceal has a mission to make the use of our products as easy as possible. This can be seen from our wallets and from our Cloud that makes using it a breeze. That is also why we are releasing Conceal Hub soon. That is an application that will bring all our products together, from wallets to audio / video calling to staking and everything else.
Taegus
All you will have to do is open it and you will have all features in one place and at hand
okanist (Conceal)
Exactly, we would like to provide financial privacy to everyone basically, in most basic and user friendly way.
Wolf
Amazing
Wolf
Lets move for the Twitter round
Taegus
Ok
okanist (Conceal)
Sure
Wolf
[Forwarded from Mr_Kwibs]
https://twitter.com/AkihisaMori45/status/1458623260866666500
Wolf
[Forwarded from Mr_Kwibs]
https://twitter.com/ing666888/status/1458454673707442178
Wolf
[Forwarded from Mr_Kwibs]
https://twitter.com/CryptoMayata/status/1458444621193916427
Wolf
[Forwarded from Mr_Kwibs]
https://twitter.com/KingAli70057895/status/1458499781278396417
Wolf
[Forwarded from Mr_Kwibs]
https://twitter.com/JennieHunh1/status/1458503844850065408
Taegus
[In reply to Wolf]
CCX was designed as private store of value, something BTC cannot do. Its emission and tokenomics are really good, in my humble opinion one of the best in crypto. So users can hold CCX and expect that it will gain in value the same way BTC does. Also unlike BTC they can cold stake their CCX in decentralized manner to earn interest while keeping CCX out of circulation making it even more scarce
Taegus
[In reply to Wolf]
Because CCX was always kind of undervalued. Due to multiple reasons. Recently meme coins were all the rage and CCX as a serious project has not gained as much attention as it should. Also since we do not have funds like some top project we need to be very careful how and when to promote ourselves. But we are doing an excellent job lately and year by year we are improving in all regards. And last but not least the time of privacy coins is yet to come when people realize that you cannot have money without privacy
Taegus
[In reply to Wolf]
As said before, Conceal is solving the problem of private store of value. Something no other privacy project is currently doing. Also we are a true community project in spirit of original Satoshi’s vision. Our community is ever growing which shows that people value privacy and what we have to offer more and more. Conceal is also more then just what I said. Its also an ecosystem where privacy is a first class resident. We are expanding to messaging, audio and video calls all p2p and private
Krypt0x ✪
[In reply to Wolf]
Decentralized Finance aims to provide the same financial services as traditional banking without any central authority or intermediaries. Without a central authority, DeFi allows everyone to engage with financial services like payments, lending, borrowing or investing with high autonomy and fewer barriers. There are billions of people without access to basic financial services. But most of them have smartphones that can be used as a mean to access DeFi services. So yes, we think that DeFi will be one of the boosts for crypto adoption and will be the “dot.com” moment for the entire crypto space. This will drive the future value of crypto currencies and many existing crypto community projects.
ATM, we are already present in ETH, BSC and Polygon through wrapped Conceal. We will be extending the wrapped version of CCX to Solana soon and we just made a partnership with Ergo as well. Other collaborations are on the table too. So, We think we are in the right path at a good pace.
Krypt0x ✪
There is no better approach to solving challenges than the famous saying “two heads are better than one.” Whether creating internal partnerships between colleagues or departments, to larger partnerships between businesses, harnessing the strengths and abilities of others from different corners of your ecosystem is one of the most strategic ways for businesses to scale their innovation and solve complex challenges. In today’s fast-paced environment, a “do-it-alone” approach is not the best strategy for growth. Organizations that initially grew organically need to look for new ways to drive collaborative innovation that delivers on what their customers/users need today — and in the future.
Big breakthroughs and progress can’t happen in silos. Working collaboratively with partners — within an organization as well as within your ecosystem to solve business problems — generates the kind of energy that fuels growth, innovation and creativity. Developing value-aligned partnerships that focus on common goals and complementary strengths is key to ensuring successful outcomes for all.
We at conceal Network believe that collaboration and strategic partnerships are fundamental to improving business outcomes.
okanist (Conceal)
[In reply to Wolf]
Because Conceal still has a very tiny marketcap and very dedicated team. In my opinion, our team is one of the most hardworking teams in crypto sphere, working on this project non-stop more than 3 years. We have been delivering working products in those 3 years and we will continue doing the same in the long term. We still believe we have huge growth potential for the future.
okanist (Conceal)
Especially with the increase of oppressive regimes in the world, the issue of financial privacy will be the most talked about topic. Conceal is one of the crypto projects that create a solution to this problem.
Wolf
Lets move for the community
Wolf
Round
Wolf
Get Ready With Your Questions
One Man Market 😇
Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
@concealkrypt0x
@Mr_Kwibs
@Taegus
Krypt0x ✪
[In reply to One Man Market 😇]
~We have adopted a DAO model. Our consensus is open to all community. It happens every year in September. Everyone could participate.
Taegus
[In reply to One Man Market 😇]
Yes we have consensus every year where community can vote for where the project will be focused next year. The can also propose products and improvements
One Man Market 😇
#Conceal
What are the KILLER-FEATURES of this project
What gives you an edge over other projects
What are your COMPETITIVE ADVANTAGES. ?
#Conceal
Krypt0x ✪
[In reply to One Man Market 😇]
I could give you a few different reasons like a unique economic model with exquisite block reward scheme and low emission, 51% network attack protection, the cold staking feature, hashed-time-locked-contracts, encrypted messages, own mining algo (ASIC/FPGA Resistant), original GUI wallets (desktop, cloud and mobile), powerful API & Cloud services but I will stick to the basics — PRIVACY & TRANSPARENCY.
Conceal has a huge advantage over other cryptocurrencies whose privacy features are only optional, because everyone who uses Conceal automatically has privacy features by default applied to their transactions. You never have to request and then verify whether other people have enabled a privacy mechanism when sending you funds or messages, because privacy is always automatically applied to all transactions/messages at the protocol level. Furthermore, the always-on nature of Conceal’s privacy features means that even if the majority of Conceal users are not privacy sensitive, they will still automatically participate with the strengthening of the privacy mechanisms for other users that are privacy conscious. We use output transactions mixins since day one and opted in for a universal transaction flat fee to avoid cross-side attacks based on TX-fees metadata. Conceal is truly decentralized through its trustless setup. Contrary to some of the competition, users are still able to audit the data (including TX amounts, total coins in the chain, coins locked through deposits, interest paid) in the blockchain without compromising privacy and preserving the transparency required by a global economic ecosystem.
Laci Apocalyqse Now
IF THE BEAR MARKET COMES will your token PROBABLY DUMP? Do you have any plan to prepared for this bear market? How will you handle the panic sell ?
okanist (Conceal)
[In reply to Laci Apocalyqse Now]
We already survived a multi-year bear market and we developed most of our best products in that timeline. Bear market is an opportunity for smart people who can stack quality projects easily. We keep building regardless of market fluctuations.
Wendell Haskell
Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Krypt0x ✪
[In reply to Wendell Haskell]
We have full working products. Please visit our website https://conceal.network
Manike mage
How important is the community to Your project? What do you expect from the community for benefit and participation?
Krypt0x ✪
[In reply to Manike mage]
Conceal before being a cryptocurrency project is a community. Our community started in September 2017 with a small group of 16 random people. These individuals have met over the internet in a human-rights related channel where we used to talk about human rights, privacy, freedom of speech, free markets, cryptography, economics, decentralization and cryptocurrencies. After some discussions we have realized that there wasn’t a single cryptocurrency project that could fulfill our expectations of a truly privacy-protected, decentralized and social inclusive cash alternative.
We are a truly community-driven project. So, everyone is able to participate in the decision-making process.
Basically, community is everything to us. Without it, there would be no project.
We speak English here 🇬🇧
Do you have any NFT plans and its integration ahead in the roadmap? Also do you have any passive income options and incentivization reward for a long term hoder?
Krypt0x ✪
[In reply to We speak English here 🇬🇧]
ATM we are offer compound interest on deposits. Please check https://concealnetwork.medium.com/conceal-deposits-8c9fd8b25e7e
Taegus
[In reply to We speak English here 🇬🇧]
No, no NFT plans for now. As for passive income as explained earlier CCX offers cold staking that gains you interest over time
Ke…..tumi…..go…
As crypto users we don’t want to lose our assets to some scam projects that run away and disappear with our money so why should we invest in the your project as a long-term investment?🧲
Taegus
[In reply to Ke…..tumi…..go…]
We have been here for more then 3 years over whole bear market. As already said Conceal is a community project, all our team members were once holders and simple community members themselves. We accept new people to join constantly. We truly believe privacy will be big and important part of crypto and that is why we keep developing and going strong
Krypt0x ✪
Most of the questions have been answered in this article https://crypto-lowcap.com/exclusive-interview-conceal/
Krypt0x ✪
CCX has a total supply of 200 million. What happens to cold staking when this total is hit?
The interest paid through compounding in the main chain will terminate long before reaching the maximum supply. Deposits are intended to be an incentive during the ascending mining block reward curve to keep the circulation supply low (4 years).
We set a new 30 year time frame to continue with the existing interest rates (Conceal Deposits v3.0). Also, our current block reward model is capped at 15 $CCX per block (20 $CCX was proposed but never got enough votes for approval). currently, the block reward is fixed at 6 CCX per block, This emission plan, combined with the maximum supply remaining unchanged at 200M, allows miners to be rewarded for over 100 years and deposits extended for 30 years.
The whole economic ecosystem (PoW mining and Cold Staking/Deposits) was carefully designed to assure an equitable distribution of $CCX for generations to come.
❤️❤️❤️❤️Love You
Security is a critical concern for users in any project with growing number of scammers. What level of security can Your project guarantee users?
Taegus
[In reply to ❤️❤️❤️❤️Love You]
Unlike many ERC-20 token projects that can rugpull or freeze funds, Conceal is 100% decentralized
Taegus
We cannot take any funds away, cannot rugpull or scam our users. In the end users are responsible themselves to keep their private keys safe and secure
Taegus
If they do that there is no way for them to lose funds
Taegus
Our chain is running for 3 years without a single incident or pause
Elsa Greyhart
Sir, Community is very important for a project. While you build your project, do you take into account community feedbacks and demands?
Taegus
[In reply to Elsa Greyhart]
That is the core of our project
Krypt0x ✪
> Encrypted messaging. What sets yours apart from the many on offer?
Despite the ubiquitous transition to the mobile domain and the multitude of messaging apps coming out every day, a lot of users still rely on email communication. Encryption made its way into this technology some time ago, but messages do not always stay intact throughout their journeys from one user to another. Usually, an email is encrypted between a sender’s browser and email servers and then between these servers and the recipient’s browser, which still makes the contents of an email message available to the email provider on their servers.
Our encrypted messaging changes this panorama, giving its users the peace of mind of true privacy. Messages are totally confidential and immutable. No one could spy or tamper with them. There are permanent and self-destruct features available, allowing users to force their messages to become permanent or deleted from both the sender and recipient’s history all together after a specified amount of time, without leaving a trace on the blockchain.
Paknami Korle Ki Korbi
Can you share the tokenomics and utility details of your tokens? Where can I buy it and what is its current price? Can you give all the links to your platform if possible?
Taegus
[In reply to Paknami Korle Ki Korbi]
https://conceal.network/ has all the links and data you need. And our wiki has even more: https://conceal.network/wiki/doku.php
Ma@
💥
IS This Your project only for elite investors, how about others with small funds, is it open to everyone?
Taegus
[In reply to Ma@]
Yes financial inclusion of everyone is core value we go by
Krypt0x ✪
Mind that we have encrypted audio and video calls as well in another app — CLIVE.
https://conceal.network/clive/
Blue l ambassador l CM
What is your strongest advantage that you think will make your team leading the market? #AMA ?
Taegus
[In reply to Blue l ambassador l CM]
Our dedication to what we do and believe in
Taegus
And professionalism and competence
pieman35333
Could you please provide some info about your Roadmap and how Your Project is progressing so far?
Taegus
[In reply to pieman35333]
We are progressing according to plan. Our roadmap can be found on our webpage. Current focus is on “Conceal Hub” the application that will unite most of our products in one place and make them interact with each other
Krypt0x ✪
[In reply to Krypt0x ✪]
https://play.google.com/store/apps/details?id=cx.ring.conceal&hl=en&gl=US
Krypt0x ✪
Using Clive is free
King AMAMAM
Where can I currently buy Token?
okanist (Conceal)
[In reply to King AMAMAM]
Our main exchanges are Bitmart, Tradeogre, Hotbit and Stex.
Krypt0x ✪
CCX main markets here https://www.coingecko.com/en/coins/conceal#markets
Krypt0x ✪
for people looking for the wrapped version — WCCX, here https://www.coingecko.com/en/coins/wrapped-conceal#markets
JUNKYARD129FAN
How your tokens are in circulation and what is your total supply? What is the schedule for Unlocking of listen token? In short, please assist us with your structure of Tokenomics?
Krypt0x ✪
[In reply to JUNKYARD129FAN]
Explanation: https://conceal.network/wiki/doku.php?id=about#conceal_emission
Live analytics: https://explorer.conceal.network/index.html
Krypt0x ✪
To know more about Conceal, please visit our Wiki https://conceal.network/wiki/doku.php
Wolf
Phenomenal 👏
Wolf
Personally I Have Learned Alot From This Session
Wolf
Our Well Wishes Are Always With You And Your Project
Krypt0x ✪
> Most people learned about Conceal Network relatively recently. What is the biggest obstacle to mass adaptation of $CCX?
The main obstacle would be the same as for the majority of crypto projects out there — adoption will mainly depend on overall crypto adoption. We are conscious of the value we are adding to the ecosystem. As soon as people become aware of the potential brought by this new economy we will be fine.
Krypt0x ✪
> How does Conceal technology looks after its users’ privacy protection?
Conceal offers privacy by default. It solves the privacy issues from other cryptocurrencies by automatically applying privacy techniques to every single transaction made. Interactions over networks are untraceable, via cryptographic protocols with nearly perfect assurance against any tampering. It isn’t possible to own ‘tainted’ Conceal, all $CCX coins are equal. This is a concept in economics known as ‘fungibility’ and is historically considered an important characteristic for any currency to have.
Conceal $CCX mimics the properties of cash. Nobody knows how or where you spend your folding cash. You go to the ATM, take out money and you can buy an ice-cream or that pretty old chair at the neighborhood yard sale and there is no record of it anywhere, unlike with a credit card (or Bitcoin). These powerful privacy-preserving abilities will act as a critical bulwark against the inevitable rise of state surveillance digital money. The end of cash means the end of free choice. That’s where Conceal comes into the picture.
Wolf
Huge Respect For You And Well Wishes
Krypt0x ✪
[In reply to Wolf]
Likewise. thank you for this opportunity
Thank you for taking the time to read our AMA recap. Be sure to check out our social channels below for the latest updates.
🌐 Official Website — https://conceal.network/
📑 Documentation — https://conceal.network/wiki/doku.php
📧 Telegram Group — https://t.me/concealnetworkusers
🔉 Telegram Channel — https://t.me/concealnetwork
♻️ Bridge — https://bridge.conceal.network/
🕊 Twitter — https://twitter.com/ConcealNetwork
🐣 Reddit — https://www.reddit.com/r/ConcealNetwork/
📖 Github — https://github.com/ConcealNetwork
📈 Explorer — https://explorer.conceal.network/index.html
📘 Facebook — https://www.facebook.com/concealnetwork/
📝 Medium — https://concealnetwork.medium.com/
🎧 Discord — https://discord.com/invite/YbpHVSd
🗣 Bitcointalk — https://bitcointalk.org/index.php?topic=5086106.0
Ⓜ️ CoinMarketCap — https://coinmarketcap.com/currencies/conceal/
🦎 CoinGecko — https://www.coingecko.com/en/coins/conceal
