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MobileCoin (MOB) is a well-known cryptocurrency that focuses on privacy and security. The protocol is unique in that it was optimized for mobile devices from day one. The platform made headlines recently due to its integration into the Signal messaging app. The integration places MOB in the hands of Signals +1M user base. As such, the MobileCoin project aspires to push large-scale crypto adoption to new heights.
What Problems Does MobileCoin Attempt to Fix?
MobileCoin desires to solve a couple of critical problems faced by crypto users. For one, the network was designed to streamline new user onboarding. The network integrates cool features such as text to pay as a way to eliminate the learning curve associated with decentralized assets.
Security Breaches Prevents
Another major issue that MobileCoin is designed to reduce is security breaches. The network provides privacy features that keep your transactions and identity protected. This privacy-centric approach has helped make MobileCoin a recognized platform in the crypto market.
Since the first days of cryptocurrencies, privacy has been a primary concern for developers. Privacy is your best form of security as a hacker is unlikely to target you if they don’t know you hold any crypto. Additionally, the protocol is completely open-source and has been vetted by multiple third-party organizations.
MobileCoin helps to alleviate a selection of sustainability issues in the market. The protocol provides a reduced carbon footprint due to its technical structure compared to earlier networks. Platforms like Bitcoin have garnered national attention due to their power consumption. In the case of Bitcoin, the network requires more electricity than most countries.
MobileCoin is a carbon-negative protocol. The developers wanted to create a network that could stand the test of time and could operate securely with minimal resources. The MobileCoin eliminates the use of miners as part of this strategy.
Network congestion is another problem that MobileCoin specifically addresses. The protocol provides 3-5 second transaction times which is much faster than earlier protocols. The network leverages a Proof-of-Stake consensus algorithm to provide more scalability.
Benefits of MobileCoin
MobileCoin brings a host of benefits to the table. The platform promotes privacy through the integration of elliptic-curve cryptography. The system leverages CryptoNote and zero-knowledge proofs to provide another layer of protection against prying eyes interested in your crypto transactions.
MobileCoin Has Low Fees
MobileCoin provides a low fee structure that enables developers and users to get more out of their crypto experience. The protocol streamlines new user adoption in multiple ways including integration into the Signal messaging app. Users can make in-app payments similarly to how Venmo and other mobile providers offer ut with crypto. The system enables you to link your wallet and phone number to streamline the entire process.
How Does MobileCoin Work?
MobileCoin is structured uniquely. It leverages the advanced Stellar payment network to provide top performance and proven security to users. Anyone can buy, sell, borrow, and loan crypto using MobileCoin features. Notably, MobileCoin incorporates some technologies from Monero and other pioneering privacy coins of the past.
The MobileCoin Fog feature provides true end-to-end encryption. The goal of this protocol is to prevent third-party apps from tracking your payments. These apps track and resell your data to advertisers and anyone interested in your history. MobileCoin eliminates these issues through its privacy-centric approach.
The MobileCoin wallet was built to be easy to navigate. You can find all of the most common features such as send, receive, balance, and more. This secure wallet enables users to leverage all of the features MobileCoin offers the crypto market while remaining privacy-focused.
MOB operates as the main utility token for the network. This versatile digital asset can be used as a cryptocurrency to send value in a peer-to-peer manner. It also plays a role as a reward token and can be lent out to others via the MobileCoin lending features to secure returns. MOB has a fixed supply of 250 million coins. Notably, the entire supply of MOB was issued with the genesis block.
The Federated Byzantine Agreement was created to enable MobileCoin to remain secure and scalable. The protocol is similar to the Stellar Consensus system in that there are Validator and watcher node operators. Validators approve transactions whereas watchers provide services such as syncing metadata from multiple nodes.
The system reduces electric consumption requirements for the entire network. It also improves the performance of the blockchain. MobileCoin has a smaller carbon footprint than Bitcoin and other Proof-of-Work networks. This sustainability makes MobileCoin a better alternative for those seeking green blockchains.
MobileCoin strives to remain a decentralized protocol. The network operates through a voting mechanism. Users can stake their tokens to vote on proposals brought forth by the community. This style of governance is popular in the DeFi market and has proven to be effective at keeping communities in unison as a project expands.
The MobileCoin Foundation plays a vital role in keeping the network evolving. The group helps to build the ecosystem through partnerships and by helping projects that have the potential to improve the user experience. The MobileCoin foundation can provide both technical and financial support to Dapps that meet their criteria.
MobileCoin entered the market on December 7, 2020, with a successful ICO. The company’s crowdfunding campaign secured $29.7 million in funding from international traders. Notably, the funding round saw major support from crypto big names such as Binance. Today, MobileCoin continues to expand its community and has grown to be a recognized privacy coin in the market.
How to Buy MobileCoin (MOB)
Currenty, MobileCoin (MOB) is available for purchase on the following exchanges.
Binance – Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from purchasing most tokens. Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
Gate.io – This exchange was established in 2013, and is one of the more popular & reputable exchanges. Gate.io currently accepts most international jurisdictions including Australia & the UK. USA & Canada residents are prohibited.
FTX – A crypto derivatives exchange that currently offers over 100 spot markets. FTX offers user-friendly desktop and mobile apps with multiple order types including derivatives, options, volatility products and leveraged tokens. Use Discount Code: 46313462 for 5% cashback off all trading fees.
MobileCoin Helps to Keep You Safe
Privacy continues to be the best option for anyone seeking to keep their crypto safer. Sadly, there has been a campaign by some to keep these projects from the public. However, there will always be a need for privacy, and even more so in the digital arena. As such, projects like MobileCoin serves a vital role in ensuring there are options for traders to pursue when they desire. Consequently, you can expect MobileCoin to continue to expand its network over the coming months and years.
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