AMA with integritee
Introduction with integritee
Q1. Can you tell us about Integritee Network and what makes it unique?
There is a lot that makes Integritee unique! But just to summarize - The Integritee network enables firms and dApps to process their users’ data in a privacy-preserving manner that aids compliance with GDPR and other privacy regulations. Moreover, Integritee enables firms and dApps using its service to prove that all privacy-related requirements have been respected.
Integritee is a system that enables developers and firms to unlock the value of sensitive data. By combining the trust of Polkadot, the scalability of second-layer sidechains, and the confidentiality of Trusted Execution Environment (TEE) hardware.
Integritee solves the 3 main issues of Blockchain as of today. Its Scalability, Interoperability and Confidentiality at the same time without downsides. In addition to that, Integritee aims to power a new generation of data-driven dApps and services.
Q2. Can you shed some light on how a business will benefit directly from Integritee Network?
Sure thing - I am sure many of you know that recently there has been a growing backlash, and rightly so - against companies who do not take or are unable to take the necessary steps to protect sensitive user data. In the past years we have seen an exponential increase in successful hacks which lead to the leaking of consumer data. This is something we want to change and create a new ecosystem of apps that are using privacy preserving technology like ours natively.
The growing focus on data privacy by consumers and regulators globally poses both market opportunities and technical challenges for businesses. We provide a way for businesses to process, share and collaborate on sensitive data in a regulatory compliant manner which protects the users who’s data it is and the companies from costly data breaches. For businesses in a wide range of sectors — from healthcare and decentralized finance to supply chain management — processing some sensitive data is simply unavoidable. Integritee enables firms to process potentially sensitive data in pre-agreed ways, while protecting the privacy of consumers.
Q3. What is the utility of $TEER token, how do we aquire it and how are the holders rewarded?
The value of the TEER token is driven by demand for our technology. As demand continues to grow the value of the token will increase in the long term. By definition, the TEER token has an intrinsic value: users need it to pay for operating in the Integritee network. To ensure that costs are stable and predictable for Integritee users, the usage will be denominated in fiat.
A burning function burns a fraction of each fee paid to the treasury. This implies that the overall TEER token supply is deflationary. In a nutshell: Each time a user pays for Integritee's service with TEER tokens, a fraction of the TEER token transaction is burned.
We have a hard cap of 10m tokens and only a single native token, the TEER, that can freely float among multiple parachains and ecosystems.
A portion is allocated for our early contributor, for the slot auctions to secure parachain slots, the further development of the network and ecosystem and long term the treasury, which will be governed one chain and decentralized by token holders in the future.
Currently the only way to acquire it is through the ongoing Kusama Parachain slot auctions where we have a crowdloan. We have set aside 10% (or 1 Million TEER) for crowdloan supporters as well as up to 400,000 TEER in additional bonus rewards. You can find more details on our crowdloan page: https://crowdloan.integritee.network/
Q4. What objectives are you planning to achieve by the end of 2021 ?
Well as I mentioned our current focus is on the Kusama Parachain Slot auctions and our ongoing crowdloan campaign to win a slot. But we have a lot else planned too.
Once we are successful with that we will also be looking to gain a Polkadot Parachain slot and then we will build and release a bridge between Kusama and Polkadot.
If you want to stay up to date with our latest developments then please follow us on Twitter and TG.
WE will see a good future
100% 🚀🚀 Hope to see some of you there with us!
Community ask questions from Twitter
How do you planning to promote your project in different countries, wherein English is not spoken well? Do you have a local communities for them to better understand your project?
Good question - our primary community space is in English but we have seen the interest in lots of different markets and are constantly trying to extend and improve or local language community support groups. We currently have the following local groups:
And we will soon be opening groups for South America, Korea and India. So stay tuned!
As blockchain technology has advanced,an unlimited number of blockchain projects have appeared on the market. People, on the other hand, prefer/accept ideas that have real-world use cases. Can you tell us about Integritee real-world applications or solutions that help with this?
Data drives innovation and value ($274bn* in 2022) – however, the increasing pressure and awareness from regulators and users pose significant challenges. Through blockchain, Integritee has the potential to provide the perfect answer to trust. Integritee provides a trusted technical foundation. There are far too many potential applications to list but they affect every industry and you personally too! Some examples include:
- Financial dapps.
- Medicine, wearables. An Integritee sidechain can be used to share medical data with a medical dapp.
- AI networks that process input data in private mode.
- Data storage.
- Bridges to other blockchains.
- Private messengers.
- Decentralized identities.
- Data analytics.
And much more!
Can you articulate some details of the metrics and the governance model of $TEER token? What is the role of $TEER in the platform ecosystem? What are your strategies to help drive the demand and increase the token value, thus making profits for long-term holders and investors?
Absolutely - lets expand on that! The TEER Token supply at genesis will be a hard cap of 10M TEER and is directed at utility and governance.
Token holders will ultimately control the governing council as they can elect the council, which ultimately has control over the allocation of Treasury funds as well as Incentive funds. In addition, token holders and the council can suggest and vote on changes to the Integritee Network/Platform.
Firms intending to use Integritee’s service need to acquire the token, either on the open market or through an intermediary that accepts fiat payments and pays the onchain fees on their behalf. This creates a direct relationship between the value of Integritee’s services and the demand for the token. As a result, when the demand for Integritee’s services increases, demand for TEER – and its value – will also increase.
The core competitive advantage of the Integritee platform is its technology, which enables a service that is superior to the competition. The TEER token has been designed so that its value will reflect this core competitive advantage, thereby linking the value of an off-chain technology with an on-chain token.
Community ask questions from Website
1. Telegram Username: @AmitGoyal1444
You mention that the new early supporter bonus and higher loyalty rewards and guaranteed rewards mean up to 400,000 TEER in additional bonus rewards is up for grabs….
What is the purpose of this new bonus and how do you access these 400,000 TEER in bonus rewards?
Yes we have lots of rewards up for grabs at the moment with our crowdloan campaign and beyond!
-> There is 1,000,000 TEER as a basic Crowdloan Reward (10% of total supply!)
-> On top of that we still have a 10% Loyalty Reward if you participated in our last crowdloan campaign
-> There is also 5% referral bonus (for both parties)
-> In the case that we don’t win a slot there is also up to 40,000 TEER in guaranteed rewards so you can’t lose!
All of that is on top of our base reward and we also have a couple of great competitions like our mascot competition for creative minds ongoing at the moment. With a pool of $800! So take advantage while you can!
All TEER rewards will be distributed (with vesting) after the TGE which will take place at some point in Q4 this year!
2. Telegram Username: @albertjaison
Integritee believes that protecting the data is of importance and wants to achieve this using Web3. Can you tell us more about the tools TEE and zero knowledge proofs(ZKP)? Why do you think TEE is more useful in current world scenario?
Great to see some good technical questions! Companies can use a wide range of technologies to run their business processes, secure their systems, and protect sensitive data. Technologies such as cloud computing, blockchain, and software-based privacy technologies like zero-knowledge proof are becoming increasingly popular, but their requirements put an increased workload on staff.
In the context of privacy-preserving technologies, four specific technologies have emerged, which are tailored to cover different use cases and have different strengths and weaknesses:
1. Secure Multiparty Computation (MPC):
2. Homomorphic Encryption (HE):
3. Differential Privacy (DP):
4. Trusted Execution Environments (TEEs): The best of the mix, TEEs provide a simple and currently unrivaled way to securely and confidentially process sensitive data. A TEE is an isolated environment that uses both special-purpose hardware and software to protect data. In general, TEEs provide a “trusted environment” inside which computations and analysis can run while remaining invisible to any other process on the processor, the operating system, or any other privileged access. Unlike HE, computations inside the TEE are performed on the decrypted cleartext data with comparatively good performance. These clear advantages drove Integritee’s decision to leverage TEE technology.
The most important feature of TEEs is remote attestation which enables a remote user to get security guarantees about the execution of the workload.
3. Telegram Username: @ehkarahan
INTEGRITEE run on Kusama and Polkadot, can you tell me the reasons for this decision? How will that contribute to the growth of your ecosystem?
One of the biggest advantages of Kusama is that it enables many decentralized networks to achieve strength in numbers by pooling security resources. Integritee plans to use the shared security and public auditability of Kusama to power our privacy-preserving data services. Both the Polkadot and Kusama Relaychains will provide public auditability and interoperability possibilities.
Live questions answered by integritee
-Integritee provides third-party developers with Polkadot sidechains. How does this model help process sensitive data securely and on a large scale? How this model will help them to build a more secure and stable project when diersifying functions with external developers?
Integritee can do everything that other parachains can offer, only better. Remember: you can launch any Substrate-based blockchain on it as a sidechain. It’s a platform for blockchains. Among its features:
- Smart contracts. Can be written in Rust or Ink!
- Privacy. It’s possible to turn any blockchain into a private one by launching it on Integritee. It’s possible to share any sensitive information with any 3rd party and control it.
- GDPR compliance. Due to its privacy features, Integritee is tailored for enterprise use, as it allows to store safely any data in a decentralized way.
- Scalability. The architecture with sidechains allows the network to scale to 1,000,000 tps.
2)🔥🔥🔥পাগল মন বলে কি🔥🔥🔥:
Have you created or are you intending to create an ambassador program/to help your project generate more interest from investors???
Absolutely - Ambassadors play a very important role! And yes, we are very close to releasing an ambassador program to continue to strengthen our connection to our community. Details will follow soon so please stay tuned on our TG and Twitter.
2 This Your Project Only For Elite Investors, How About Others With Small Funds, 2 It Open To Everion?
No absolutely not - we allocated 30% of total token supply as rewards for our crowdloans to secure a Parachain slot on both Polkadot and Kusama. The current campaign for Kusama has an reward allocation of 10% which is 1,000,000 TEER which anyone can get part of if they bond only 0.1KSM to our crowdloan!
4)Skikipapapp // $CRP SWAG:
•Where can I buy it?
•also all the links to all your social media platforms if possible?
Currently the TEER token can only be obtained by participating in our Crowdloans - which is easy to do. As for the 2nd part of your question:
Web Documentation: https://www.substratee.com/
Social Media & News: