Advanced blockchain technology with a low volatility coin is entering exchanges. How you can earn on it and what changes it can bring to the cryptosphere.
This month crypto community once again referred to the theme of volatility regulation in cryptocurrencies. Well, no wonder that the biggest investors and funds are looking for the solution that can be used not only like another speculating active, but like a stability and predictable asset which will open new opportunities on the crypto market.
However, while startups are seeking for such solution, an ambitious project from Europe already has a working product. And on November 1 it starts a listing on the exchanges. The product is called MinexCoin or “MNX”. It is a payment system based on low volatility cryptocurrency which is regulated by the innovative autonomous algorithm called MinexBank.
As outlined in the white paper, MinexCoin combines both traditional finance system and blockchain expertise for solving a high volatility problem habitual for most cryptocurrencies. It is based on the Bitcoin software, but unlike other altcoins, this coin is designed to stay stable and strong while its price growths permanently.
To tackle the issue of high volatility, as mentioned, MNX is using an automatic algorithm resemble the actions of central banks that maintain the cost of their national currencies. That’s why it is called MinexBank.
To regulate the rate of its coins, MinexBank analyzes a market capitalization of cryptocurrency, the demand for the coin, the number of coins in circulation, and the average rate of the coin. Then, to stabilize the market position of MNX the algorithm uses two main instruments - coin interventions (like a real central bank) and a tool named “Parking”.
If it more or less clear with the interventions, “Parking” is a know-how of the Minex team. In a nutshell, this tool offers every MinexСoin holder a temporary suspension of coins in order to receive interest payment instead of selling or bringing coins to the market.
The founder of the Minex project, Boris Shulyaev says: “Unlike traditional depositing systems which imply you to give your assets to a third party like a bank, parking only means a temporary suspension of a number of coins designated by you in your personal wallet. If the need arises to use the suspended coins before the parking term ends, you still may spend it to get more profit from selling your assets for a better price or from RE-parking for a better percent”.
The more coins in circulation on the market, the greater interest rate on Parking you’ll get and vice versa, he explained.
“World is showing a demand for digital products that can bring fresh ideas and solutions not only to the professional crypto community but to everyone who makes the first step in discovering the blockchain and crypto industry. - Says Boris Shulyaev - At a high level, thanks to it stability, such asset like MinexCoin can be used as a basis for developing a wide range of decentralizing products such as exchange, own marketplace, or even an insurance company working on smart contracts”
The situation around MNX looks tempting right before the start of exchange listing. Only after a year since the presentation of the MinexCoin’ concept, the team has already built a competitive and fully working product. During that time they finished an ICO, launched their own mining pool with miners around the world, created, tested and released MinexBank with its unique algorithm.
Today MinexCoin has:
>20,000 MinexWallet downloads
180,000 parked MinexCoin
1500 active users of MinexBank
and >17,000 participants in the official MinexCoin community
Based on the cryptomarket analysis controllable annual growth of the coin’s price would correlate with average annual price growth calculated for a portfolio of most popular altcoins (around 33.6 percent). However, in the long term, Minex team believes that their MNX might be a multi-purpose tool equally useful for trading, investment, and routine financial operations.
“Minex Systems Limited”, a Hong Kong registered company, specializes in the blockchain product development. The company offers solutions which include the best of both the worlds (conventional financial system and cryptocurrency ecosystem) and work on the unified Minex Platform. To date, the flagship product, MinexBank, is an autonomous algorithm for controlling the volatility of MinexCoin.
Press release distributed by Pressat on behalf of MinexSystems, on Friday 27 October, 2017. For more information subscribe and follow http://www.pressat.co.uk/