Paymon is a crypto project born of a market gap in the digital currency industry. It seeks to improve the basic blockchain model to make it more accessible and flexible so as to allow for more widespread use than is currently the case.
Cryptocurrency technology set in motion an undeniable revolution in the world of finance and a host of other industries. Its inherent blockchain innovation made it possible, for the first time, to carry out transactions without the need for a central intermediary. But some limitations within the model have led to the use of these currencies as stores of value but not exchange media.
Scalability issues on most of the popular crypto blockchains make it impractical to use them for everyday transactions as users have to wait for extended periods for confirmation and approval. This, in turn, has made them costly and therefore not ideal especially for small transactions.
A Novel Blockchain Model
Paymon proposes a custom blockchain model with a difference. The Hive blockchain technology used on the platform combines a number of crypto innovations to make way for limitless scalability and facilitate a feeless transaction structure. In this regard, it is armed with the tools necessary to address the scaling issue, create modern architecture with higher flexibility and also allow for compliance with current regulatory frameworks.
This technology is applied to the custom business platform, Profit, which offers a universal commercial solution on the blockchain. Profit has an improved smart contract feature and makes it easy for business owners to move commercial operations to the blockchain and enjoy performing transactions without any fee payment.
Hive makes use of atomic swaps, a technology that allows for swaps between different digital currencies without the need for an exchange platform. It also uses a rating system known as Proof-of-Me algorithm and the Directed Acyclic Graph (DAG). This combination of innovations gives the model unlimited speed and scalability.
A Hybrid Application for Users’ Convenience
Paymon has already created a mobile device app whose beta version is already available for Android and iOS devices. The app is in its own league in the sense that it functions as a blockchain messenger with digital wallet capabilities. At the moment, it allows for the storage and transfer of bitcoin and ether but will with time include other digital currencies as well.
It sports an intuitive user interface as one of the key objectives of the Paymon project is to make crypto facilities accessible to anyone and everyone. Once a user downloads the app and goes through the registration process, a digital wallet is automatically created. Additionally, the app has all the functions of a standard messaging app to facilitate communication.
An ICO with a Focus on Accountability
Paymon has elected to hold a three-round ICO in order to generate the funds needed to give the project traction. The objective is to distribute as many Paymon PMNT tokens as possible but breaking it down into three stages is aimed at giving investors the opportunity to track their KPI. This level of accountability is rare in the ICO world and is a positive sign for the project’s likelihood of success.
The ICO aims to distribute a total of 1 billion PMNT tokens, 400 million for the first round, 250 million for the second and 200 million for the third. The rest, 150M will be held in reserve. These tokens can later be exchanged for PMNC or Paymon coin the digital currency that operates on Hive and that will function on the platform at a ratio of 1:1.
Paymon – The Dark Horse on the ICO market
The fact that Paymon already has an MVP ready for market consumption marks a big difference between this and other ICO projects. The project is also keener on achieving its intended its objective other than just gaining popularity. To this end, instead of spending half a million dollars on marketing, they would rather invest more into creating a product.
Another key differentiator for the project is that, as the team explains, they wish to limit the number of big investors. This is to avoid having one or two centralized entities getting a majority of the token share and thus controlling token prices. But they are not locking them out altogether since they already reached the soft cap and have numerous token holders already. They will, however, accept only two or three big investors into the project.
Paymon is clearly a cryptocurrency project with a difference. Unlike many other ICO proposals that only have a white paper and no working product for their concept, the Paymon project already has a working app available for download on Google Play and the App Store. This gives investors the opportunity to experience first-hand the viability of the proposal and inspires trust in the model.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Crypto Demystified via Flickr
FOTON Bank Is Launching An All-in-One Crypto Banking Service to Process up to 500 Transactions per Second
The decentralized FOTON project is launching its next-generation crypto-bank ecosystem to stimulate and facilitate the use of cryptocurrency payments worldwide, as stated in the official press release published by the company.
The statement issued by the FOTON project on December 3, referred to the launch of a decentralized crypto-bank designed for multi-currency transactions featuring a built-in fiat and cryptocurrency exchange system and instant contactless payments for goods and services worldwide. The system is intended to become a stable and flexible ecosystem that will enhance scalability for services related to financial assets, exchange solutions, cards, accounting, and business/customer services.
The technology being employed in the design of the ecosystem was specifically created to tackle some of the most critical issues facing the modern banking system, as well as the widespread adoption and application of cryptocurrencies in routine business transactions. The issues the FOTON project’s ecosystem seeks to solve include overregulation, bureaucracy, centralization, system faults, volatility, legal constraints and complications related to practical use.
“We are creating the ecosystem that will prove to be the impetus and basis the crypto market needs to make the effective transition to becoming the next global banking system,” as stated by Andrey Pashkevich, CEO and Co-founder of FOTON.
“The time to buy is when there’s blood on the streets” – Baron Rothschild
You have probably heard these stories, but let me explain why they are as important today as they were 100 years ago when first spoken. Not only that, it is just as relevant today. A bit of a background first.
Napoleon was at war with England. The Battle of Waterloo, it was England’s last chance to save itself, and remain as England. Baron Rothschild was standing at his post in the London stock exchange. If England wins, the market will rally, if Napoleon wins, it will go to shit. Baron Rothschild sends his private messenger to Waterloo and demands that he return to him and report who won the war.
His messenger does so and makes it in time before the public knows anything. England had won the Battle of Waterloo. At his stand on the exchange, what does Barron do? You would think buy up stocks right? Nope, Baron starts to sell, at first slowly, and then faster. The other brokers on the floor watch what Rothschild is doing and think “Baron knows something, we lost, start selling”. Now, the brokers on the exchange begin selling in a frenzy. In the midst of all this, Baron begins placing buy orders at the bottom of the market through other brokers who do not know…
Crypto Users’ Search For a Good Bitcoin Blender Stops With Bestmixer.IO
At first glance, it might seem easy to find a good bitcoin blender that guarantees your anonymity and is secure. There are after all a number of big bitcoin mixers on the market, so how different can their services really be?
If that’s what you’re thinking, beware. All bitcoin blenders claim to have anonymous transactions – that is after all the main reason why anyone would want to use these services. This claim was however always difficult to test. How does one go about to check if these promises are indeed true?
This was the case until BestMixer.io appeared on the scene. Unlike previous bitcoin anonymization services, BestMixer.io features complete, verifiable anonymization for bitcoin. Releasing a utility named the Coin Anonymization Event (CAE) check, BestMixer.io not only proved that their bitcoin transactions could not be traced, but also showed that those of their competition could be. With this bold move, BestMixer.io not only demonstrated that they are a good bitcoin blender, but one could argue that they are the best. Even though those services that were exposed as not being anonymous have in the meantime changed their systems to prevent the CAE-check from revealing transaction detail, would you really be happy to trust them again?
BestMixer.io mixes not only Bitcoin, but also other leading cryptocurrencies including Bitcoin cash, Ethereum, Litecoin and Bitcoin SV.
OpenUBI Ecosystem Launched by GoodDollar and Partners in Berlin
HODLing Stellar Is A Good Plan For 2019
Reasons To Invest In Electroneum In 2019
- Altcoins2 weeks ago
Want To Be A Crypto Millionaire? 2 Tokens That Can Make It Happen
- Altcoins2 weeks ago
Why IOTA is a Project that is Going to Last
- Altcoins2 weeks ago
3 Cryptos You Should HODL At Least Until 2020
- Altcoins1 week ago
What to Expect From TRON In 2019
- Featured news2 weeks ago
XRP to be listed on TokenPay’s upcoming exchange eFin from the get-go
- Blogs2 weeks ago
Ripple and the Internet of Value
- Don't Miss2 weeks ago
Ripple’s XRP is not only useful. It’s also green
- Bitcoin1 week ago
Bitcoin in 2020: What to Expect from BTC Value in the Future