Blockchain innovator IPSX has announced the successful winding down of its private investment round which netted a total of 6,500 ETH for the development of a decentralized platform for the sharing of internet protocols (IP) upon which applications can be built – effectively a distributed layer network of data centers shared by community members.
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Opening to such great demand, the private session was forced to turn down over 23,500 ETH offered up for investment, since the hard cap limit for the entire crowd funding event was only 10,800 ETH. As such, the main public sale will take place as a token generation event on February 28th, 2018, to raise the remaining 4,300 ETH that would meet the hard cap limit. Once all remaining IPSK tokens are sold, contributions will be closed, or until a maximum deadline of March 5th, 2018, whichever comes first.
IPSX tokens are built on the Ethereum protocol, using smart contracts to power an incentivized model for global users to share IPs. The IPSX platform aims to be the world’s first truly decentralized marketplace combining flexible tools such as APIs and SDKs to assist developers and entrepreneurs to build applications in a secure and transparent environment on top of existing IPs. These applications will include services where IPs are central to their operation, such as Virtual Private Network (VPN) providers, data mining firms, web crawling services and micro tasking companies.
Through this open and distributed availability of IPs, the problems of centralized IP access thanks to closed networks and proprietary payment systems is eliminated. The major benefit is cost reduction on large volume IP use, while increasing the access to and availability of multiple IP sources, fitting the needs of large corporations and small entrepreneurs.
The platform will also help to spur access and digitization throughout the world, allowing end consumers to enhance security and privacy, bypass corporate and political limitations, as well as access geographically-restricted content.
Users who rent out IPs on the marketplace (providers) to other users (requesters) will use a dedicated Ethereum-based transaction system to directly pay and receive transactions, in IPSX tokens. They will take advantage of an IP market that has a current value of over $60 billion, growing 16% annually, driven by increasingly huge demands for IP use.
IPSX benefits from the gravitas of Marco Houwen, whose experience initiating the NGO Infrachain ASBI, a solution adopted by leaders of the Luxembourg Blockchain Ecosystem, will help see out its development roadmap.
To participate in the upcoming token generation event, interested contributors must complete the following steps for registering interest:
Details of the contribution address will be published a minimum of 24 hours before the event begins on the official channels on Telegram, blog and Twitter. Users are advised to only trust information on these official channels.
To learn more about IPSX, visit their website and read the technical whitepaper.