Hicky, a Tinder-like mobile app launched on top of the Ethereum blockchain, has been conducting an initial coin offering (ICO) to distribute its token HKY, which is compatible with the Ethereum network’s native cryptocurrency Ether.
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More than 24.1 million HKYs have been raised, surpassing its soft cap. Given that 1 Ether is equivalent to 7,500 HKYs, the blockchain project has already secured over $2 million in funding. The project has also secured some of the world’s most prestigious educational institutions in Harvard University and Stanford as official partners.
Hicky is advised by former executives of successful social media applications like Tinder. Hermione Way, the former Head of European Communications for Tinder, the biggest dating app globally, has officially joined the Hicky team to oversee its growth and branding in the long-term.
Blockchain experts such as Timothy Galebach, a co-founder of Blockmason – a market leader in credit, health, and social applications of the blockchain, are advising the project alongside Way and other individuals with valuable experience overseeing multi-billion dollar messaging and social media applications with tens of millions of users.
Essentially, Hicky is similar to a decentralized and tokenized version of Tinder, wherein sensitive personal and financial information of users on the app are not shared or monetized, which many applications do. Recently, it was discovered that PayPal shares information with 600 entities on a daily basis, as noted by blogger and podcast host Owen Williams.
Hicky eliminates the possibility for any administrator or operator of the network to share the information of users, because like how non-custodial wallets do not keep private keys of users, Hicky does not have control of user information. Through the utilization of Ethereum smart contracts, users can be reassured their information remains private and inaccessible by third party service providers.
“The vision of Hicky is to create a dating experience that merges real-life social dynamics with the behavior incentivizing effects inherent in a tokenized economy. A decentralized platform eliminates information security risks while enabling a superior alignment of incentives among participants in the network,” explained the Hicky development team.
The Hicky platform significantly reduces the risk of vulnerabilities and hacking attacks, given its decentralized nature. Because Hicky exists on the Ethereum blockchain that is decentralized and distributed, hackers cannot target the Hicky platform’s core network, as it does not have a single point of failure. Hackers could try to find vulnerabilities in smart contracts, but that in itself is highly unlikely.
More importantly, as demonstrated above, unlike most ICOs in the market, Hicky already has an active application running that is available on the Apple App Store. Users can download the application and request early access, and start using the mobile app before the ICO ends and the team focuses solely on the development of HIcky. The ICO is still ongoing, and it is expected to end on March 26.