Minexcoin Cryptocurrency Review
What is Minexcoin?
What is Minexcoin?Minexcoin is a global payment system build on Minex platform. It is a low-volatility cryptocurrency , where the users can ‘park’ their coins for a predictable amount of time and interest.
Overview
For almost all currencies, volatility is a major issue.
Minexcoin has arrived with the solution being a global payment system and is based on low volatility. It is now the talk of the town because of its lucrative features like steady price growth, exchange rate stability etc.
The autonomous algorithm of the token controls these features acting like a central bank symbolized by the name Minexbank.
It provides a secured, simple yet easy platform for shopping online and for exchanging cryptocurrencies and other digital products that contain values. It also ensures the safety of stored assets which remain only a few clicks away from the user.
Minexcoin also offers revenues to the investors for maintaining the stability of the system.
Features of Minexcoin
Fixation of annual growth has made minexcoin less volatile and more stable. The exchange rate is pegged to the annual growth of 10 cryptos possessing largest market caps. The annual growth of was marked 33.6% in 2016.
Irrespective of the purpose, whether customers use minexcoin for trading or daily payment or short to long-term investment, it will provide value to them according to the strength of the purpose.
Due to low volatility and stability, it is a suitable arena for any term investors to invest and to accept it as a medium of transaction.
What is Minexbank?
Minexbank resembles the national banks that control the circulation and volume of the currencies in the market.
It is nothing but a smart algorithm which is the accumulation of predetermined formulas written by professional economists.
This autonomously governs the whole ecosystem and maintains a constant growth of value by the processes like interventions and parking.
To maintain supply-demand equilibrium and to raise the market pressure, minexbank utilizes its own reserve to sell or purchase MNC- this process is known as intervention.
Parking is a process of stocking MNC in the wallet for a definite period and for this, minexbank provides interest to the wallet holder. The rate of interest is dependent on supply-demand balance and the duration of parking. Interest rate falls with the rise of demand and users are motivated to sell their stock.
Minex Ecosystem
The Minex authority has launched a few tools to expand the area of the community and to maintain the uprising demand for MNC. It has implemented products like: ‘Minex Market’, ‘Minex Exchange’, ‘Minex Platform’ etc, to increase the functionality of the ecosystem.
ICO
The ICO (initial Coin Offering) of MNC took place in two phases. The first round was completed successfully with pre-subscription for 2 million MNC.
The second round was held on 15 May 2017 and 150,000 MNC were sold. The target was to determine the market value before joining the exchange.
Specifications of Minexcoin
Minexcoin is based on an amended source code of bitcoin. A few changes were made to attain swifter transaction and more stability. It uses ‘Mars hashing algorithm’. Each 2 MB block requires 2 minutes and 45 seconds to be found and the individual miner receives 2.5 MNC as block reward.
Conclusion
Measures taken by minexcoin to maintain stability and to control volatility are really worthy to be appreciated.
It is not impossible that it will be the ultimate solution for volatility crisis of the world economy.