e-Chat — Decentralized Anonymous Multitasking
What is e-Chat ?
e-Chat is a new decentralized application which combines a secure, decentralized chat app with a cryptocurrency wallet capable of handling multiple different coins. An early ‘alpha’ version of the app is already available to download from Google Play or Apple App Store. But with ambitious plans to further develop its functionality, the team behind E-Chat are launching an ICO crowdsale to raise the necessary funds.
Early backers can invest in ‘ECHT’ tokens prior to this November ICO through the Pre-ICO sale which is already active, and receive an additional bonus for doing so.
Problems and Solutions
To date, messengers are among the most common applications. This is facilitated by the widespread dissemination of smartphones and Internet access. With every passing day, more and more messengers are appearing on the market. Each messenger has its own audience, and as a result, it is necessary to install dozens of applications in the smartphone to communicate with friends.
Such a variety of messengers is due to the fact that at some point, commercial organizations were able to offer much more attractive communication solutions than existing open standards (for example, SMS). Developers and owners of numerous commercial messengers put commercial gains in first place, and factors such as anonymity and confidentiality of users are of secondary importance. In most cases, commercial messengers have a number of drawbacks:
Centralized management
All correspondence goes through the server of the company owning the messenger, and the company can dictate its rules: block messages on a certain subject or prohibit the transfer of certain files. The company may also be subject to government pressure, and may be asked to disclose users’ correspondence or to impose certain restrictions upon their request.
Centralized architecture
This problem is due to the presence of a single point of failure. On the one hand, it allows to block access to a certain service for the whole country. On the other hand, technical problems on the management servers may lead to unavailability of the service for all or a significant part of users.
No end-to-end encryption
This mechanism could guarantee complete confidentiality of data all the way from the sender to the recipient. In other cases, the data can be opened on the server through which communication is performed.
Connection of phone number
The mandatory requirement of binding a phone number, email or account from another system does not allow anonymous correspondence. And the stored data on user accounts on messenger servers often become the target of hacker attacks. Hackers use this intercepted data for resale or blackmail.
To solve these problems, e-Chat team is developing a multifunctional messenger, the architecture thereof is based on P2P communication, distributed data storage in IPFS and end-to-end encryption. The solution, based on a combination of these technologies, is consistent with the principles of decentralization, confidentiality and resistance to attacks.
Features and Benefits
e-Chat is a multifunctional decentralized messenger including the features of a classic messenger and multi-currency crypto-wallet.
An alpha version of the e-Chat application is already available in Google Play and the App Store. A lot of goals have already been realized, but even more still has to be done. Our goal is to create an app for communication in a network that will not depend on servers and will not be affected by government structures. The application, which combines a high level of privacy and security of user data with the most convenient functionality.
E-Chat Features
- Audio calls,
- Individual and group text chats,
- Video calls,
- Live broadcasts,
- information channels,
- Paid channels,
- Cryptolikes,
- Cryptocurrency transfers between users,
- Cryptocurrency micropayments via offline solutions,
- Issue and connection to a payment card account,
- ECHT token conversion into fiat money.
=> e-Chat Functional Advantages :
1. Possibility of anonymous communication
Registration of a classic account in e-Chat is not mandatory, in order to start communication it is only necessary to provide another person with your ID generated by the application during installation.
2. A communication channel for your business.
e-Chat provides an opportunity to create an information channel for your brand that will promptly inform your customers about the company’s news and promotions, as well as conduct interactive promotions, including remuneration in ECHT for certain activities.
3. Monetization of author’s content.
e-Chat allows you to create channels with subscription-based access with payment in ECHT. This function is in demand for authors of master classes and training courses. e-Chat provides a full-fledged mechanism for communicating with subscribers (a channel for publishing materials, webcasts, group and individual chat rooms) and a convenient way to accept payment for tuition.
4. Rewards for popular content
e-Chat provides all users with the opportunity to give remuneration for interesting content by «cryptolike», thereby sending a certain amount of ECHT to the author. «Cryptolikes» encourage authors to add new interesting materials.
5. Free use
All the main functions of e-Chat are absolutely free. Payment is charged only for additional opportunities associated with infrastructure costs (data storage on IPFS nodes for more than 30 days) and access to the copyright content of other users.
6. Built-in lightweight cryptocurrency wallets
E-Chat users will be able to transfer and store BTC, Ethereum, ECHT and any ERC20-compatible tokens. A lightweight wallet allows you to keep full control over private keys, but it eliminates the need to load a complete chain of blocks, the size of which can be tens of gigabytes.
7. Micropayments support
With the spread of offline technologies (Raiden Network, Liquidity Network, etc.), the e-Chat team plans to implement micro payments in order to reduce transaction commissions in the blockchain.
8. Transactions in internal currency (ECHT) with zero commissions.
For public accounts, there is a possibility of a two-way conversion of ECHT tokens into the internal ECHT currency. Transfers and payments made in ECHT internal currency, are conducted without commissions, as they do not require the payment of transactions commissions in the Ethereum blockchain.
=> e-Chat Technical Advantages
Decentralized architecture
e-Chat architecture is developed on the basis of P2P communication without the participation of servers, distributed data storage in IPFS and end-to-end encryption.
Application of smart contracts
Payment for advanced functions, access to copyright content, payment for «cryptolikes» in e-Chat are carried out via smart contracts on the Ethereum platform.
Security
The use of asymmetric end-to-end encryption and P2P connections between e-Chat applications eliminates the possibility of intercepting user correspondence.
Anonymity
To identify e-Chat users, an ID generated on the application side is used, this ID is stored only in the e-Chat application and is known only to those people whom you passed it.
Confidentiality
The absence of servers that store user correspondence excludes the disclosure of this information at the request of government agencies or as a result of hacker attacks.
Protection against wiretapping
The network connection between the interlocutors is established directly outside the server, and all the transmitted data is encrypted. This technical solution excludes the possibility of «wiretapping» and interception of text messages.
Protection against blocking
Using P2P connections for communication and the DHT mechanism to determine the IP address and TCP / UDP ports of the interlocutor exclude the technical possibility of administrative blocking of e-Chat operation.
HOW IT WORKS?
When you send a message from one user to another, you connect through a P2P connection. If the instant access to data is not required, all information is being stored to the IPFS-based decentralized storage network (DSN). Thus, all user data remains protected from any interference.
For the safety of sent messages and users, following our principle of the Proof of Storage algorithm, there is a place for the distributed storage of information to be kept safe. Users of e-Chat can independently set the time for storing messages.
To secure the operation of the blockchain, e-Chat stores the «URL» of message or file directly to IPFS.
Investing in e-Chat with Bitcoin is Easy!
- Where to store Bitcoin: Choose a Wallet
To be able to buy, store, and use your Bitcoins, you will need a tool — a wallet, which is a special program or an online service.
You can choose the wallet most suitable for you in all parameters and install it according to the instructions of the service you use. It does not take much time. There are several types of Bitcoin wallets: desktop (Bitcoin Knots, BitGo, Armory, Bitcoin Core), mobile, online wallets (Blockchain, Xapo, Coinbase) and hardware wallets (Ledger Nano Sb TREZOR, KeepKey).
Always take precautions: never trust your passwords and private keys to your Bitcoin wallet to anyone! The safety of your means depends on this.
Detailed instructions on how to register a web-wallet on blockchain.info
2. How to replenish your Bitcoin wallet
Now, you do not need to be a programmer to buy a cryptocurrency. It is enough to have access to the Internet. We will tell you about the three most simple and convenient ways to buy Bitcoin:
Method 1: Exchanger
One of the easiest ways to buy Bitcoin is via an online exchanger. This method allows you to quickly buy Bitcoins using your bank card. You only need to do the following:
- Select an appropriate exchanger
- Undergo a standard registration procedure
- Pay the desired number of Bitcoins in the same way as you pay for purchases in an any online store (you do not have to buy lots of Bitcoins, you can buy only a small part of even $100)
- Indicate the address of your Bitcoin wallet, to which funds will be received
- Wait for transaction confirmation
The most popular online exchangers:
Method 2: Via crypto-exchanges
This method is as simple as buying through an online exchanger, however it takes more time, as you will have to undergo a verification procedure.
Almost all exchanges in the world support Bitcoin, because in its own way it serves as the “reserve currency of the crypto-world.” After registering on the exchange and providing all the necessary documents, you can buy the number of Bitcoins you need, but this is more suitable for more experienced users and those who want to invest in different cryptocurrencies. The most popular exchanges: Bitfinex, Bittrex, Poloniex, Kraken.. The entire list of exchanges can be found, for example, on the portal of Сoinmarketcap.com.
Method 3: P2P
The most popular Bitcoin p2p site is LocalBitcoins, which gives people the opportunity to sell and buy digital currency from each other, using various payment methods, and acts as a guarantor for both parties. On this site, people from different countries can exchange their local currency for Bitcoins. You can choose to create your own order (offer) with the price that you designate yourself, or select a price that is already placed in existing orders, and make payment in cash or using online transfer.
In addition, you can choose the most suitable place for you to buy Bitcoin on this site https://www.bitcoin.com/buy-bitcoin
3. How to invest in e-Chat
Now it’s time to invest in e-Chat! At the moment, e-Chat holds the second stage of the final ICO, which lasts from January 16–21 this year. All users can support the project and take part in ICO on the most favorable terms! Thus, e-Chat offers the following during this period:
- Discount of 25%
- Purchase 1 token at a price of 1.125 USD!
Hurry up to buy ECHT tokens now, as in the future their value can increase by hundreds or even thousands of times!
The procedure for buying ECHT tokens is as follows:
1. Register on our website https://investors.echat.io/
2. Sign in to your personal account, after which you will be in the section https://investors.echat.io/dashboard/
3. Choose a cryptocurrency for investment, it is Bitcoin in our case
4.1 Copy the address to which you should send funds
4.2 Or simply scan the QR code if you have a mobile version of the Bitcoin wallet
5. Go to your Bitcoin wallet
6. In the line “Recipient” insert the address copied previously and enter the amount you want to invest
7. Click the “Send” button
Done! Only a wait for the transaction confirmation. This can take from 1 hour to 2 days.
Tokens Distribution
This amount is based on the fact that in 2017 the messengers market has 3.5 billion users. Moreover, we know that all popular instant messengers suffer considerably from one common problem — monetization. e-Chat creates a new integrated model, allowing for the use of all messenger functions for free, as well as to earn money and make purchases. Thus, we create the infrastructure to monetize the project efficiently. It includes areas for communication, streaming, blogging, financial transactions, data transmission, telephony, integration of mobile games, and applications.
Token Detail
Token distribution phase #1 Pre-ICO
- Start date : 16th of October 2017 (12:00 PM London Time, GMT-0)
- End date : 15th of November 2017 (12:00 PM London Time, GMT-0)
- e-Chat tokens distribution cap (phase #1) : 5,000,000 ECHT
- Currency accepted : ETH, BTC, LTC, ZEC, BTS
- Token exchange rate : 1 ECHT = 0.7 USD
- Amount of tokens per one person : unlimited
- Minimum transaction amount : $10
- Maximum transaction amount : unlimited
Token distribution phase #2–3 ICO
- Start date : 16th of November 2017 (12:00 PM London Time, GMT-0)
- End date : 30th of December 2017 (12:00 PM London Time, GMT-0)
- Currency accepted : ETH, BTC, LTC, ZEC, BTS
- Amount of tokens per one person : unlimited
- Minimum transaction amount : unlimited
- Maximum transaction amount : unlimited
Token distribution phase #2 ICO round 1
- Start date : 16th of November 2017 (12:00 PM London Time, GMT-0)
- End date : 15th of December 2017 (12:00 PM London Time, GMT-0)
- Token exchange rate : 1 ECHT = 0.75 USD
Token distribution phase #3 ICO round 2
- Start date: 16th of December 2017 (12:00 PM London Time, GMT-0)
- End date : 30th of December 2017 (12:00 PM London Time, GMT-0)
- Token exchange rate: 1 ECHT = 0.8 USD
Team
For More Information :
My Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=1305006
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