Intro
So I am gonna talk about this new project MasterCoin which is quite interesting, and is gonna offer so much to crypto world, PoS world and MasterCoin community! It caught my eye on the first glance, and I decided to dig much deeper, and guess what, it was totally worth it!
So basically it's coin that will be used for their Master Suite platforms.
Some of the reasons why you should look into it:
*MasterNodes
*Anonymity
*Asic Resistance
*And many more which will be mentioned below.
Specifications
ALGO
NeoScrypt
BLOCK
100 Seconds
BLOCK SIZE
4MB
MAX SUPPLY
80 Million
PRE-MINE
5% pre-mine used for:
Listings
Bounties
Marketing
They also got this interesting thing going on where they start as POW and then switch to POS(many new project are doing it), and it's gonna work like this and you can also see rewards:
POW
Block reward is 18 MC until 10,000
Block reward 10 MC from 10,0001 to 20,000
End of POW at block 20,001
POS
Block 20,002 to 40,000 – MN/POS/MasterSafe – 65/30/5%
Block 40,001 to 52,000 – MN/POS/MasterSafe – 85/10/5%
Block 52,001 to 82,000 – MN/POS/MasterSafe – 55/40/5%
Block 82,001+ – reward system will alternate every 12k and 30k blocks
MasterNodes
They also have 3 Master Nodes tiers, and as you are probabbly guessing, each one requires more coins as collateral than previous one but logically also reward is bigger, so check it out below:
| TIER | MasterNode collateral | Reward |
|---|---|---|
| TIER 1 | 3.5K | 16.25MC |
| TIER 2 | 35K | 170MC |
| TIER 3 | 100K | 500MC |
Roadmap
So that would be it about coin, now we are gonna get to the part where it gets much more interesting!
Master Suite
MasterSafe
As name suggests it's about safes, vaults, so it's blockchain-protected cloud wallet imagine it's same as you bank account, safe as it gets.
So that's the place where you want to store your coins, and also you will be able to earn interests just like in banks but much better and much higher. You earn interest in a way that your coins can be safely collateralized, borrowed, and lended peer-to-peer, all from your wallet. Isn't that nice? You don't need to take care of your wallet locally, and you get paid for only holding your coins.
Masterpool
This part is even more awesome! They will offer option for pooling your coins with other peoples, so you can stake or make MasterNode in a pool with other people. Most of the PoS coins will be supported on the platform(the more the merrirer), and if you are already into staking and MN's then you know the bigger amount the bigger reward is, so it's much more effective to pool your coins. But if you are new to staking and MasterNodes, well better find some good tutorial on how-to, because it's valuable information and can help you alot!
But that's not all, all the heavy lifting will be done by the platform so you don't really need some knowledge of Linux, how PoS and Master Nodes works, etc. You just need to prepare coins, and you can get started in a few clicks!
MasterDex
And this is the part where everyone panties get wet, we can hear recently so many talks about DEX's(almost every second tweet is about it) and how centralized exchanges are bad, so this is good thing!
It will be hybrid exchange taking best of the centralized and decentralized exchanges and making it very secure and fast exchange.
Don't worry, it's gonna have implemented decentralized wallets - so you’re in control of your private keys,and therefore your coins.
Also they have planned API's so you can automate your trading easily(yea, that means bots which we all "like" so much).
But other thing that we also love/hate depending on your skills and experiences, MARGIN TRADING, you should be careful with this one if you are not expert!
Team already made some quality partnerships with other projects like KYD which is also good project that will provide safety from exit scam projects.
And also partnership with Aced project which also has various use cases, it's totally worth checking it out!
That would be all, I hope that I done good intro into this project, and also encourage you to do your own research before investing(trust me you will not regret it once you see what I see), and you can do it by checking some of the links below:
WebSite - https://mastercoin.one/
Discord - https://discordapp.com/invite/zk7Kskh
Twtter - https://twitter.com/MasterCoin_one
GitHub - https://github.com/mastercoinone/mastercoin
Bitcointalk ANN - https://bitcointalk.org/index.php?topic=4567811.0
And, ohh yeah almost forgot to add whitepaper link, here it is:
https://mastercoin.one/wp-content/uploads/2018/07/MasterCoin_Whitepaper_v1.0.pdf
Good luck to the team and us investors also, let's see some prosperity and good development of these platforms.
PS. I can't wait to try out all of them.