What does Matcoin (Mattercoin) mean?

08/20/2023 11:33 • Crypto & Markets • 89 views

Matcoin According to the official website announcement, Matcoin is an upgraded version of the token model in blockchain projects.

In April 2020, after the start of mainnet testing, the team launched “Mosaic”, a digital currency trading platform, decentralized wallet, and exchange system. At the same time, they introduced the “world’s first bitcoin mining hardware solution”.

According to a tweet by Ma Hailong, “Matcoin” has gained support from many users and is currently listed on several well-known exchanges including Bithumb, Coinbase, Kucoin, and Gate.io. It also holds compliance licenses in multiple countries and regions to help more investors understand crypto assets and related investment opportunities.

What does Mattercoin mean

Editor’s note: This article is from Bitcoin News (ID: bitcoin8btc), written by LiamFrost, translated by Wendy, and authorized by Planet Daily News.

Musk has always been a loyal believer in cryptocurrencies. On October 13, 2017, when the price of Bitcoin broke through $8,000, he announced the release of Bitcoin mining software “Mator”. This software allows users to use their own digital assets for transactions and storage for others. The difference between this feature and BTC is its decentralization, transparency, scalability, and can also be used for payments. However, because it uses different blockchain technologies to ensure security, it has brought unnecessary demand.

Although every transaction on the Bitcoin network is recorded in blocks on the Ethereum chain, no node can participate, which has caused the entire network to not function properly. So Musk hopes to solve this problem by increasing the consensus mechanism, reducing costs, and improving efficiency.

According to data from CoinMarketCap, as of the deadline for publication, the market value of Bitcoin has reached $600 million. According to BitMEXResearch data, the price of “Mattercoin” has now risen to over $37,000. “Mattercoin” (TheToken) is a utility token or something similar to gold, and its value mainly depends on its application scenarios as a medium of exchange. If you want to become a native substitute for Bitcoin, you need to buy more Bitcoins.

Essentially, “Mattercoin” refers to a new form of currency. This new form of currency gives Bitcoin built-in economic advantages – the ability to obtain exposure to Bitcoin without relying on third-party intermediaries. In other words, “Mattercoin” will be called a “stablecoin” because it is the only digital unit issued by the U.S. federal government and allowed private companies to use.

To achieve this goal, Musk decided to adopt the open-source project of Bitcoin. According to the description in the tweet, the white paper of the project is now under development. “Mattercoin” (theTokens) aims to provide a new way for everyone to easily buy and sell these commodities.

For Bitcoin holders, they can use various resources they have to support their ideas. For example, they can share information about Bitcoin, discuss its development trends, and provide feedback on the community in a forum. In addition, they can also join Twitter and other social platforms to establish a broader network and promote the development of the community through their influence.

In addition, Mattercoin will also use smart contracts and private keys as the basis for users to obtain rewards by sending Bitcoin, such as increasing the usage rate of Bitcoin through voting or buying more cryptocurrencies as rewards.

Of course, in addition to the aforementioned Mattercoin, there are many other altcoins that have the same problems, such as anonymity.

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What does Matcoin (Mattercoin) mean?

What does Mattercoin mean

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