Experty (EXY) ICO Review – ICO Token News
The Experty platform consists of applications available for mobile, web, and desktop. Users are also able to send free text messages between each other in order to discuss the terms further if needed. Text messaging can also be disabled by the provider if they so choose. Voice or video calls are always paid, charging by the providers predetermined rate. The current platform is being built using React and React-Native. This allows us to shorten the go-to-market process and implement additional features from the roadmap, while still keeping the native application experience and performance. All Ethereum smart contract interactions will be triggered by the recipient of the call, since it is in his or her interest to register for payment. The caller must first provide enough funds allowing for at least 30 seconds of the call in order to initiate the conversation. During initialization of the call, the recipient sends the exact conditions of the exchange to the caller, including the recipient’s minute rate, call identification, and the Ethereum addresses of both parties. The on-chain transactions occur through our Ethereum smart contract, known as the operations contract (OC).
Smart Contract Architecture
The OC architecture provides a way to utilize signed off-chain transactions done through Experty. Due to the possible inefficiency of registering calls directly on the Blockchain, the recipient uses a signed confirmation of the call to lock the caller’s funds on the contract until the call finishes. During the call, the recipient receives additional confirmation from the caller each second. After finishing the call, he or she uses the most recent confirmation in order to transfer the funds to their balance and unlock the remaining caller’s funds. The Ethereum network (EN), in its current state, is not able to process many frequent transactions and most likely would be bottlenecked using the current architecture at scale. The solution to this problem is implementing a type of Lightning Network (LN) or Raiden-like Network instead of directly messaging the EN. In this case, the LN can be used as a middle layer between recipient and the OC.
Party Platform Integration
A decentralized solution means the possibility of integrating into a variety of third party services, already containing large user bases, which can allow creators or influencers to make additional profit using our platform. This strategy is a lean and efficient go-to-market strategy since we will not need to reach out to individuals one-by-one to create the desired network effect. Instead, we can rely on an existing established user base. Experty allows anyone to quickly and immediately monetize their time or content beyond what they were initially capable of. This is efficient for both the provider and the receiver.
- Audio and video communication within the application uses the WebRTC protocol. This protocol is used in apps like Whatsapp or Google Hangouts to ensure peer to peer data encryption and provides robustness proven by millions of users using the technology already.
- Our goal is to allow experts to share their paid call link whenever and wherever they want. This avoids relying on Experty to create a marketplace for them. Knowledge providers can use networks where they are already known and considered trusted experts, such as message boards, social media, blogs, etc.
- The payments will occur on the Ethereum blockchain after the call based on a pay-per-minute rate. The OC will provide the security of a payment settlement system. A caller without sufficient funds to complete at least 30 seconds of a call will not be able to trigger a call. If a caller’s funds are running low, they will be notified in advance and will be disconnected when funds fall below the per minute rate.
- The first version of Experty will have dedicated calling applications for most platforms, including iOS, Android, and Windows. We also plan to integrate Experty with third party video calling applications so that potential users will be able to use the application of their choice.
- Knowledge providers are able to set their availability time, so they can easily prevent all calls outside a given timeframe.
- The provided applications will have a built-in Ethereum wallet for managing funds
Blockchains, by nature, have several properties that make them attractive for our platform. These properties are essential to the success of this project. Thanks to Blockchain technology, we are able to achieve the following:
Payment Settlement – Thanks to smart contracts, we are able to alleviate a large problem: when and how the payment should be settled. With Experty, the payment is made during the calls. Participants can disconnect whenever they want and the payment is made only for the recorded time. The contract decides whether or not the caller has enough funds, and makes sure that the funds are transferred to the recipient when the call is completed.
Legal Simplification – Holding customers’ money falls into the legal purview of several regulations and regulatory agencies. Using cryptocurrency simplifies this drastically since the funds are transferred directly between the parties involved. Any funds sent or received in the Experty platform can be withdrawn by users at any time through the Ethereum wallet
Instant Payments – Ethereum payments are realized within seconds. Knowledge providers don’t need to worry about these payments being locked in processing for weeks on end, or payments being denied through chargebacks.
Third Party Service Transparency – Our marketing strategy highly relies on external services which already have thousands of users in their database or network. Blockchain transparency allows for tracking calls triggered from their websites without worrying g about a substantial usage and clearing cost or denial of payment by a service provider.
Experty is using the ERC223 standard, an updated version of ERC20. ERC 223 requires less Gas than ERC20, prevents the risk of ICO tokens being lost when they are sent to an incompatible contract, and is also fully compatible with ERC20 for the purpose of exchange listings. Check ICO list to know more about ICOs.
- Kamil PrzeorskiCEO Founder
- Tom DylCTO CO-Founder
- Greg KucmierzSolidity engineer, co-founder
- Blaise MathaiCommunications Manager
- Sarah KhanProject Director
- Anatolii MenlykFull Stack Developer
Company foundation of software consulting company React Poland.
- First small crypto project for SatoshiPay
- Initial solidity smart contracts and web3 internal projects
Blockchain projects research and analysis
- 4Q1 2017
- 5Q2 2017
- 6Q3 2017
Seed investment round $700,000
- 7Q4 2017
Alpha release + planned Token Generation Event
- 8Q1 2018
- Mobile/Webapp Beta
- Contacts Management
- Ethereum Wallet
- Mobile: Messaging, Voice Calls
- WebApp: Balance, Messaging
- 9Q2 2018
- Security Audit
- Market Release
- Call-Me Web Links
- Mobile: Availiability Schedule
- WebApp: Voice Calls, Availiability Schedule
- 10Q3 2018
- Desktop Beta
- Mobile: Video Calls, Balance Management
- WebApp: Video Calls
- 11Q4 2018
- Desktop Release
- Fiat Fateway
- Advanced Payment Rles
- Desktop (MacOS/Windows): Balance management, Messaging, Video Calls
- Mobile: UX Update
- WebApp: UX Update
- 12Q1 2019
- Refinement Based on Users Feedback
- Screen sharing
- 13Q2 2019
- Group Calls