Introduction
Over the years since the inception of blockchain technology, which started with the launching of the Bitcoin blockchain in 2008, the industry continues to expand and witness emerging projects with incredible features and structure. Currently, the cryptocurrency market is vast and occupied with a wide range of crypto projects. With the pace at which these projects are formed, there is every tendency that investors and traders may not keep a tab on all. Sometimes, most of these projects may have been functional and operational for a while before a public awareness is done, and at such time, there may not be enough profit to obtain from such a project. While we may often intend to benefit from most of these new projects, creating the time to explore them and participate in their programs may be difficult, given the multiple numbers of projects.
Another common occurrence in the cryptocurrency market is the recurring failure of certain projects. We may not often know many projects in the crypto space due to their high number, but sometimes, certain of these projects do not remain sustainable enough to attract potential business partners and investors. A prevalent challenge facing most projects is liquidity; it is one of the primary causes, which results in the premature folding up of several blockchain platforms. It creates volatility in the crypto market and causes the persistent price fluctuations of the token of such a project. This discourages investors and traders from purchasing such tokens, and this is to avoid incurring losses, hence such a project cannot remain sustainable.
Another prevalent challenge in the cryptocurrency market is limited to branding and marketing. In this current age, strategic publicity and awareness are crucial to developing a strong impression on the market. Most projects that fold up do not create a credible marketing technique and this can result in less community reaching. It can also put the project under the shadow of another that has a robust branding and marketing strategy. With all these problems, all innovative projects need to strategize how to overcome them and present a credible and viable network.
The cryptocurrency market presents peculiar challenges to both project owners and investors. The latter seeks businesses that will be profitable to invest at a perfect time while the former faces the above issues affecting blockchain projects.
Despite these prevailing issues facing projects in the crypto market, the booming pace of the industry is still promising. There has been a massive adoption of blockchain technology and cryptocurrency in multiple areas and businesses, especially the financial sector. Researchers and experts are projecting that the industry will continue to amass much profit as it keeps expanding and garnering a wider adoption. The integration of digital assets into payment platforms, as a suitable alternative to fiat currencies, has caused people to begin to adopt the technology. We are currently in an era where crypto coins are becoming legal tender for making purchases and making payments. Certain online stores now allow customers to purchase electronic gadgets and other accessories using cryptocurrencies.
There are over 1000 digital assets in the market today, but the most popular ones and widely adopted ones are Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and XRP. Calculating the worth of the total volume of crypto coins in circulation will amount to billions of dollars; this is how viable and stable the market is growing. For the two major cryptocurrencies, BTC and ETH, the total market capitalization is currently over 190 billion US Dollars. One remarkable feature of this market is that it allows the conversion of digital assets to fiat currencies via decentralized exchange platforms. Particularly, after about a decade, Bitcoin has become the mainstream and leading coin in the crypto market and this led to its adoption and legalization in Japan. If we extend the market capitalization to the first top ten, based on their value, crypto tokens, we will have about 400 billion US dollars. However, with all the worth of cryptocurrencies, the volatility of the market makes the industry are likely to risk for investors and traders.
These uncertainties, which result in the price fluctuations of cryptocurrencies and instability of the market, motivated the development team of Melecoin to build their project. The team identified the most stable asset in the world, which is gold, and built its network to support the integration of the precious stone into the crypto market. It also stems from the high demand of crypto enthusiasts who needed a stable coin backed by an asset of intrinsic value. Melecoin designed a token that will proffer a solution to the demand of the market.
The network of Melecoin developed the use of its token as a means to represent physical ownership of gold. It offers its clients the benefit of claiming ownership of gold through the Melecoin token, without them having to experience the burden of carrying large amounts of the heavy-weighted asset. Another advantage is that the Melecoin network provides a secure, convenient, and safe method of holding and storing gold using digital wallets. Gold owners do not need to move about handling it physically when they want to sell or exchange them; the Melecoin network provides an exchange platform that encourages peer-to-peer trading and cross-border transactions. This is achieved by adopting the use of the debit card and blockchain technology.
Transactions are made easier and less stressful for clients and the Melecoin token permits trading of the physical gold by forming a link between the physical market and the digital world. Customers need to follow certain guidelines and adhere to the AML and KYC standards to perform trading on these exchange platforms.
With this fascinating advantage offered by the Melecoin network, there is likely to be a massive conversion of other cryptocurrencies into the Melecoin token. Extensive market analysis by the network’s experts indicates that holders of even the most popular crypto coins, BTC and ETH, intend to convert their assets to MELECOIN tokens. In line with the massive capitalization of these assets, we may witness a rapid increase in the revenue of the Melecoin network when a small amount - about 1% or 2% - of the entire capitalization is converted to Melecoin token.
Projects Info
Website: https://melecoin.net/
Whitepaper: https://melecoin.net/images/wp/EN.pdf
Telegram: https://t.me/Melecoincommunity
Facebook: https://www.facebook.com/MELECurrency
Twitter: https://twitter.com/melecoin
Medium: https://medium.com/@melecoin.net
LinkedIn: https://www.linkedin.com/company/melecoin
Instagram: https://www.instagram.com/melecoin/
Writer's Info
Bitcointalk Username: Endpoet
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2767513
Proof of Authentication: https://bitcointalk.org/index.php?topic=5293754.msg55727038#msg55727038
Eth Address: 0x7294B55Be0CC92A8788E71992dE4461E1b4908C8