July 1, 2023
6 min read
Why will SENT platform be required in the crypto space? What major problems does it look to address?
Sentinel aims to enable Services being offered while resources are being shared in a provable manner. It first addressed the problem of provable resource sharing and has a unique system that exchanges signatures to determine bandwidth utilized WITHOUT the need to store logs. The first implementation is the dVPN. Further protocol development will enable app developers to install the Sentinel SDK where instead of showing ads to users, developers can ask their users to contribute bandwidth thereby increasing utility and enhancing the experience.
What is SENT token used for? What gives it value? Why is it necessary and why should one invest in it?
SENT token is used to secure & have utility within the network. Since SENT utilizes dPOS, it is necessary to ensure the Sentinel network stays secure with Validators staking SENT tokens. One can invest in it to utilize the token or participate in the governance of the network.
Lots of projects talk a big game in the space. Could you tell us about your execution, and maybe talk about your GitHub? Is it active?
Yes. Sentinel is a dedicated team from around the world and has been executing right from 2017 up to now. GitHub is pretty active for anyone to check – https://github.com/sentinel-official/
I’m very impressed with this project so far. I like the concept, the approach, the fact that is working with Tendermint and Cosmos and the latest partnership with an easy “toggle to enable” model. Now, what are you looking ahead to accomplish?
Thank You. The roadmap will include Sentinel Relay Net, partnership with manufacturers of routers with Sentinel dVPN software loaded, Raspi Node Hosting, Private Nets, etc.
What role do you think Sentinel will play in making blockchain highly adaptable in the worldwide stage? How will you encourage developers to create applications in your blockchain?
We will ensure developers of FOSS and other Services on the network can accept tokens from users either as a subscription or in a pre-paid model. Not only that, as mentioned earlier, FOSS developers can get their users to contribute resources and in turn, can earn.
Congratulations on a solid plan as elaborated in the white paper. How soon would you expect the ecosystem to drive demand for the token up?
The utility will bring value to the network. Sentinel dVPN has had over 100TB in consumption till date.
Could you perhaps explain the value proposition for building on Tendermint?
It was a framework that was close to being ready for development in production. Other frameworks and networks couldn’t suite the needs in Sentinel’s multi-service and resource sharing network.
Q1: Do you think that the mentioned network scalability is also the main financial problem of corporate solutions?
Q2: In addition to working with the stock exchanges, do you talk to some large companies to implement technology in everyday use? I think that the project will win the market by implementing such a solution?
Q3: Most people learned about the name “SENT” relatively recently. What are the biggest obstacles to mass adaptation of this solution (product)?
1. Not really. Scalability has been achieved under controlled environments.
2. Yes. Sentinel Private Nets will be implemented in enterprises.
3. We bank on the utility of the product to increase awareness. Marketing activities are underway too. 2020 will see a huge marketing push with initial outreach starting before that.
How do you guarantee service to your customers in case there are not enough idle resources available?
It’s not about idle resources and service commitment. The Sentinel network enables users to connect with nodes that offer resources on the network. Based on the resources available, users can connect. With an increase in nodes, an increase in utility of the network also increases.
What is the secondary market value management doing afterward? How will you deal with a badly behaved bearish market?
We keep product development going on even in a bear market and make sure there’s enough utility for the development on the network.
Hello Sentinel! How do you plan to bring new security experts into your sentinel Protocol for continuous scaling? Since the goal is the overall security of crypto.
The goal is not overall security of crypto. Sentinel dVPN facilitates that. Security Experts to work on the dVPN are working with us on the project.
The goal of the project is to enable secure exchange.
Can you please elaborate these things: 1. dChat; 2. dVolP
1. Sentinel dChat is decentralized Chat that’s being built right now. It is a Service similar to the Sentinel dVPN.
2. Sentinel dVoIP is another Service and enables secure communication between people.
Regarding partnerships, do you have specific partners targeted or are there any you are able to discuss that have not been announced?
For Private Nets, we have a specific set of niche organizations that can not run their own infra for a full-fledged internal VPN. With Sentinel network, Private Net & dVPN service, we will make sure to have these orgs ready for adoption.
How will Sentinel act in the event of a crime committed in any country over an IP in Sentinel’s VPN services?
1. Sentinel is open-source software and doesn’t take any liability of activities on the network. 2. It’s around 30 people. Due to the nature of the project, the team has had this structure 3. As this is open-source software, if there’s compliance to be developed anyone interested can have that layer built and running. Users choose whether to run or not.
Which do you consider the most rewarding moment for which you have experienced since the beginning of the SENTINEL project?
The most rewarding moments for me are when the network hits milestones. I love to see real usage growing exponentially on stats.sentinel.co which validates the utility and demand for P2P resource transfer of this nature and the need to stay secure online. Real usage and adoption are very rare in Crypto and to be a part of such growth is amazing. 100TB transferred milestone was a particularly rewarding moment.
Can you convince me why I should use dVPN (especially Sentinel) instead of VPN?
From my point of view, centralized VPNs simply cannot be trusted. There is no proof of encryption and they can change the encryption settings and cooperate with malicious entities or be bribed to give up data.
Even on enterprise and govt levels Sentinel want to set up private networks to prevent leakage of data or hacking from malicious entities. This is not just about citizens and privacy from big corps or governments, but even inter-corporation leakages like F1 teams and their sensitive data when there are huge amounts of prize money at stake, etc. There are endless applications, and data integrity and security are key themes. The simple fact is: you can TRUST Sentinel as the code is open source and you don’t have to do deep packet inspection every time you connect.
What killer features has Sentinel that is ahead of the competition from other projects and how does intend to open up the project and product to the community, researchers and enthusiasts, so no one will stop this and it is continuously improved on.
Currently, we have Sentinel Relay Net and our own blockchain with native governance as key differentiators. Sentinel dVPN usage on multiple blockchain networks enabled us to understand a lot more about the dynamics of various networks.
What is the strategy of SENT market price management? The price lower than ICO kinda hit our confidence with SENT though the whole market is down.
There never was any volume below the ICO price. SENT has always been above ICO price even though the market was down.
What are the next planned steps to increase adoption and awareness among people and more specifically among professional asset management?
I think it is important for a Sentinel Foundation to be set up and for the network to become self-sufficient, remain decentralized and become even more so. As things stand it is hard for professional asset managers to imagine being part of a network with no corporate entity behind it and with little structure, but of course, it is early days. Ethereum and many other similar networks solved these issues with foundations and by having many different contributing entities. We see Sentinel following the same path.
Is it possible to run Sentinel alongside an existing OpenVPN docker container that is binding 1194?
You need to change the ports but yes you can run it on the same instance/server.
How Many SENT do I need for a masternode?
Currently, on testnet, no tokens are required to run the Validator node. You can check the documentation here on https://docs.sentinel.co
What is the minimum hardware requirement to run a full node of Sentinel?
You will need 50GB SSD, 8GB RAM, 4 cores. With this, the Full Node can run.
Is there any use of the token beyond incentivizing node providers?
Of course, also incentivizing validators. The SENT token is integral to the entire network by design as the network switches over and takes control of its own governance via a trusted validator network. Many tokens on ETH or EOS or other chains, for example, are useless as gas, for example, must always be paid in ETH, but with Sentinel, the entire network will revolve around and rely on the SENT token.
How can a user host a node or be a part of the network?
User can run a Validator or a dVPN node. Check docs.sentinel.co
What are the uses of Sentinel’s smart contract?
Currently, the ETH smart contract confirms the exchange of bandwidth.
What is Sentrix and how relatable it to Sentinel?
Sentrix is Sentinel’s decentralized Chat, a service similar to Sentinel dVPN.
What features Sentinel currently have?
Sentinel is a network and has the Sentinel dVPN on Sentinel’s native chain powered by Tendermint and Cosmos.
Another one about the nodes, as I know Sentinel is gearing up towards the launch of the first testnet with public validators on 24th July 2019. So how many $sent to run a node and what’s the reward?
Yes. Sentinel’s own blockchain powered by Tendermint and Cosmos has been launched on 24th July and has been successfully running ever since – https://explorer.sentinel.co.
Currently, test tokens are required and if you are hosting a node by going through the guide on docs.sentinel.co, you can ask for tokens in the @sentinelNodeNetwork group.
Ethereum blockchain is permissionless. Can it work for permissioned set-ups?
Not on ETH, but Sentinel can work in a permissioned setup. You can fork the entire code from GitHub and utilize accordingly.
I saw that you guys were early adopters of Tendermint and will potentially be one of the first projects to launch once cosmos goes mainnet. Could you explain why the team chose Cosmos/Tendermint?
From my point of view, it is control over governance. As Sunny from Cosmos so brilliantly points out, generation 2 blockchain is like empires – with Ethereum you must go to the entire ecosystem (ethereum empire) and ‘clear’ governance decisions with the whole ecosystem, and Gas must be paid in ETH. Sentinel wanted to have more control. Also, scalability is a huge issue and with Tendermint and Cosmos Sentinel has the capacity for huge quantities of micro-transactions without clogging up the network.
Another consideration is the interoperability of Cosmos which is super exciting – the Sentinel dapps will be able to accept any currency that has a Cosmos hub – think BTC, ETH, IRIS, BNB, stable coins and many more – the Sentinel dapps will even be able to accept ‘pay as you go’ payments by credit card which really brings the dapps to the mainstream. As I always say, blockchain will reach mass adoption by people using it without even knowing they are using it or having to understand it, like the internet, right? It can be behind the scenes, validators will be incentivized with SENT, nodes can accept SENT, but the end-user may be using a credit card and not even know about the SENT token or be forced to buy it first and then pay with it. This is how Sentinel truly goes mainstream!
When do you expect a REAL need for SENT token to be used? I mean like when real users need SENT for actual transactions. What is the time frame?
We are aiming for that right from mainnet. Our current stats are all live on stats.sentinel.co for people to check daily and weekly usage. That’s the real need we’re working towards.
There’s a tonne of failed projects in crypto with zombie tokens being traded. What is SENT’s thoughts on this?
The cream rises to the top. I am enjoying watching the rankings and seeing solid projects thrive and scams get filtered out. I never had any doubts about Sentinel and knew the network would rise out of the bear market with real growth and usage. All of these networks will be valued by throughput. Usage trumps speculation!
We were glad to host Sentinel on our Telegram. Thanks to the project’s team and all members of the session!
On Saturday, June 3, 2023, our support team started receiving reports from users claiming unauthorized transactions from their wallets. The whole team was alarmed. We alerted users via our social media channels about a possible attack. Out of precaution we immediately halted all app downloads and updates, reached out to major exchanges and leading blockchain analysis companies and started an investigation. Since June 3rd, all members of the team have worked non-stop without days off, and we can say that no new cases have been confirmed since the initial reports.
In this guide, we are going to explore the 3 different methods you can use to prepare your crypto taxes, ranging from difficult to almost completely hands-off. Anyone considering not filing at all should reconsider, as tax authorities worldwide are increasingly pledging resources to catching those evading taxes on crypto gains. Mass audit tools are near, and the immutable blockchain means your transactions can be tracked back to your KYC'd exchange with ease.