VECAP - The Next generation of Smart Home

STARTER INFORMATION

With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.

While this revolution is gaining wide acceptance, VECAP a symbiosis of the latest technology that can ensure the security of all things on your internet has arrived.

"Just so you know, blockchain at its core is a cryptographically secured, distributed ledger that allows for the secure transfer of data between parties.

Traditional IoT systems are dependent on a centralized architecture. Information is sent from the device to the cloud where the data is processed using analytics and then sent back to the IoT devices. With billions of devices set to join IoT networks in the coming years, this type of centralized system has very limited scalability, exposes billions of weak points that compromise network security and will become incredibly expensive and slow if third-parties have to constantly check and authenticate each and every micro-transaction between devices.

Smart contracts in blockchain networks will allow devices to function securely and autonomously by creating agreements that are only executed upon completion of specific requirements. It not only allows for greater automation, scalability and cheaper transfers (no third-party needed to oversee transactions) but these smart contracts can also prevent overrides by individuals that want to use the data for their own benefit. Information is shared across a decentralized, cryptographically secured network, meaning it becomes very difficult to compromise the network security.

Finally, with a centralized network, the risk of a single point of failure disabling an entire network is a very real possibility. A decentralized blockchain network mitigates this risk with millions of individual nodes that transfer data on a peer-to-peer (p2p) basis to keep the rest of the IoT network running smoothly."

With that being said, the Vecap project is very ambitious and simple that guarantees the security of smart home networks thanks to innovative blockchain technology and smart contracts. Every action taken on this platform users will be recorded in a database that cannot be recovered and is almost immune - to solve it, hackers need to get administrator access to 51% of each device, which is very impossible because the project spreads around the world.

But before we go any further, please check out this video presentation to get even more acquainted

Now that I have your attention, let’s get right to it.

What exactly is VECAP?

As depicted above and as indicated on the official website of Vecap, Vecap’s story began when one of our founders’ home network was hacked and his private information ransomed. He turned off his gaming console and disconnected it from the internet. His data was gone but with that disappearance came a strangely disturbing thought:

Instead of agreeing on a common networking protocol, each established their own server and application, causing their customer’s home network to be formed of disjointed parts with vulnerable links connecting them.

Their eagerness to profit from an exploding market has given hackers an upper hand. All they have to do is find one vulnerable point in your smart home– your router, TV, console, or any other appliance–and they’ll control your life. As the IoT industry grows to include basic utilities like water and electricity, the most optimistic predictions indicate that 8 out of 10 devices are vulnerable.

Soon enough, most everyday appliances will be networked. Given the outstanding security risks, it’s only natural one in every three people have put off setting up their smart home system.

Now, the challenge

In 2014, hackers stole about $350 million in bitcoins from Tokyo's Mt. Gox exchange. More recently, attackers successfully moved about $60 million worth of the virtual currency ether from the DAO, or Decentralized Autonomous Organization, to an account controlled by an unknown individual or group. Although most - but not all - of the funds taken in that theft were later recovered, it was another reminder that cybercriminals are targeting cryptocurrencies.

Cryptocurrencies, such as bitcoins and other digital alternatives, have been hailed as representing the future of money and global finance. Bitcoin, the first cryptocurrency, was created in 2009. Nowadays, hundreds of types of cryptocurrencies are in use, often referred to as altcoins (an abbreviation of “bitcoin alternative.”) New altcoins get launched every day.

There’s reason for the excitement. The technology lets people and institutions shift funds instantly and without the need for a middleman. Unlike paper currencies controlled by governments, cryptocurrencies are fully decentralized and operate independently of central banks. The digital assets work as a medium of exchange using principles of cryptography to secure transactions.

And then this,

Vecap’s founders got a team of blockchain & smart contract experts together to find a solution. By combining these two technologies, they can secure all communications between devices in your network. If these connections are protected, so are you.

Vecap believes that in all technical fields, safety and efficiency should be the top priorities, even more so when it comes to your home and your personal information. This belief underpinned their work in guarding your privacy. That allowed them to conciliate the technological progress and online security without compromising.

The age of the smart home is just around the corner. While greed blinded the manufacturers of IoT devices, Vecap focused on ensuring the primacy of the right to privacy for everyone.

Using the software infrastructure and physical hub, Vecap ensures all communications between external devices within smart homes are safe. With smart contract transactions protecting the internal connections of your network, and all recorded information being kept on a decentralised ledger, no hackers will give you nightmares.

Blockchain technology stacks the odds in your favour, so you don’t have to pick between your privacy and progress. The hope that every user should control his or her life independent from hacking threats has guided our founders and expert team in building a reliable, faster, and more trusted platform.

The Mission and Vision

According to the official whitepaper of Vecap, VeCap’s mission and vision can be summarized in one simple phrase. Vecap wants to create the "Next generation of smart home and office". VeCap will focus on making a home and office that think ahead come to life.

The VECAP’s solutions - WHY VECAP IS SO IMPORTANT TO OUR TOADY'S CRYPTOSPHERE

Interest in the Internet of things and the number of existing IoT devices continue to grow every day! But the security of IoT devices is significantly inferior to the pace of development of the Internet of things. According to Ericsson research, there will be over 18 billion IoT devices in the world by 2022. At the same time, according to AdaptiveMobile, about 80% of existing IoT devices do not have a sufficient level of protection. Thus, it becomes obvious that the issue of security is vital for the further development of the Internet of things technology.

What does VeCap offer?

VeCap will be able to protect all smart home or office devices by combining them into a single decentralized network. All transactions made between IoT devices will be recorded in the blockchain on the basis of smart-contacts. Blockchain records will be duplicated on millions of IoT devices in tens of thousands of smart homes and offices, which will make this network virtually invulnerable.

Another important problem faced by owners of smart homes is the problem of compatibility of devices with each other. BCG and McKinsey argue that in order to increase the market share of smart homes, their suppliers must develop ecosystems and platforms for compatible devices, which will eliminate the limitations of their offerings. The earliest owners of smart homes will be the first to understand the problem, who deal with the problem of compatibility of devices in their homes. Therefore, all IOT devices certified by VeCap will be automatically added to the blockchain ecosystem, which will allow them to interact with each other directly or through special VeCap modules.

About The VECAP Ecosystem

VECAP Ecosystem will be a new market where hardware manufacturers will provide and sell their products, crowdfunding their future and communicating with customers. This ecosystem can also display the VECAP Fund to support producers' approval.

It goes without saying that Vecap project will have an important place in the use and implementation of life today. The main purpose of this project is to fully protect Internet devices and their personal data. Considering growth in this sector, you will not be a leader in this field.

The team from this project strongly believes that the security and confidentiality of human data is above all. For this reason, they have made their own features on each side of the device platform that can secure the security of all data and IoT (Internet Of Things) security.

Token and ICO Details

Vecap use its internal token to perform all of its internal operations. To do this, the developers intend to release 1 billion coins. The initial price of 1 coin will be $0.12. In total, the team of founders for the launch and further development of their platform intends to collect Hard Cap in the amount of 72 million US dollars.

Token Details

Token Symbol: VC

Token Price: $ 0.12

Token for sale 750,000,000 VC (75%)

Token supply 1,000,000,000 VC

The distribution of tokens is as follows:

45% – ICO

20% – Pre-ICO

10% – Private sales

10% – Team & Advisor

10% – Reserve

5% – Gifts & Airdrop

Roadmap

Meet The Amazing Team & Advisors

Be a part of this incredible project. Download the whitepaper for the full scoop.

Till next time…

For more information, please visit:

WEBSITE: https://vecap.io/

WHITEPAPER: https://vecap.io/uploads/2019/01/VeCap_Whitepaper.pdf

ANN THREAD: https://bitcointalk.org/index.php?topic=5093270.0;all

TELEGRAM: https://t.me/vecap

FACEBOOK: https://www.facebook.com/vecap.io

TWITTER: https://twitter.com/Vecap_io

MEDIUM: https://medium.com/vecap-next-generation-of-smart-home

REDDIT: https://www.reddit.com/user/Vecap_io

Author: Cryptoholical

My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2487106

Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.