Metal cryptocurrency is a new representative of digital assets based on decentralized technologies. Despite its youth, the total capitalization of the MTL coin managed to reach $ 200 million. This coin, by analogy with other similar cryptocurrencies, was created based on blockchain technology. At the same time, it works according to the Proof of Processed Payments (PoPP) software algorithm.
The history of the development of the Metal project
The history of the Metal project development began recently. In 2017, the first metal coins appeared on the crypto market. Despite the growing popularity of this coin and the increase in the capitalization indicators of the crypto project, it is still at the beta testing stage.
It is important to note that when creating the MTL crypto-coin, its creators did not set themselves the task of collecting funds from investors under the pretext of issuing a new payment decentralized crypto network operating with its cryptocurrency. The Metal cryptocurrency platform is a full-fledged decentralized platform that provides users with a wide range of financial instruments.
When forming the concept and the subsequent development of the MTL coin, its creators tried to avoid the following problems inherent in bitcoin and other large old crypto-coins:
- confusing interface and complex structure of interaction of the crypto network with users, which complicates the possibility of introducing newcomers into the crypto market;
- lack of payments in the form of bonuses for new members to increase their interest in using the financial instruments of the crypto network;
- constant jumps in exchange rate quotations;
- the imperfection of the technology for protecting the anonymity of users and the confidentiality of information about transactions carried out within the crypto platform;
- lack of a clear algorithm to combat forks and hacker attacks.
Having done some work on the errors of Bitcoin, the authors of the Metal project managed to create a coin with high security, anonymity, and friendliness to new users. This approach should help the coin to attract a large number of participants. So it will have a positive effect not only on the market capitalization indicators but also on the growth of MTL exchange rates.
Features and characteristics of Metal
The relevance of entering the cryptocurrency market of the Metal project is due to the existence of a problem in the field of exchange and the simultaneous use of fiat money and crypto.
The authors of Metal decided to solve this problem by creating a decentralized peer-to-peer platform where users can conduct operations to convert crypto to fiat and vice versa. At the same time, users get at their disposal an application that is a digital wallet that allows them to carry out a variety of financial transactions with cryptocurrencies.
The features of the coin and its platform include the following properties:
- carrying out instant transactions with various crypts, regardless of the user’s location;
- no additional fees;
- ensuring reliable protection of personal information of participants in the crypto network;
- the ability to use digital currency to pay for goods and services;
- the use of an algorithm for automatically fixing the rate of a crypto coin during its exchange, which helps to mitigate the impact of the high volatility of digital money;
- well-established seme of interaction with credit cards and some other banking instruments.
One of the distinguishing features of the MTL token is the use of the Proof of Processed Payments consensus-finding protocol. The mechanism of this protocol involves taking into account the activity of users and identifying their identities. Thanks to this protocol, participants of the crypto platform receive a bonus when carrying out transactions within the project in the form of crediting Metal tokens to their accounts.
When making purchases or exchange transactions using MTL users not only do not pay a commission but also receive a bonus of 5 percent of the transaction amount. With the growth of activity, the size of the bonus will increase, which is a motivating factor for users who want to receive additional income in the form of a crypt.
As for the possibility of mining this coin, due to certain technical specifics, MTL mining is not yet available. At the same time, users interested in where to mine this crypto asset may not get upset ahead of time, as the creators of this coin have repeatedly reported on the possible introduction of mining, including with the help of cryptocurrency pools.
Advantages of Metal
The following features should be highlighted as the main advantages of the Metal project:
- providing a convenient algorithm for conducting financial transactions;
- invoicing in real-time with the fixation of exchange rate quotes, which prevents the likelihood of losing funds when converting crypto into fiat in the event of a sharp jump in the rate of the crypto-coin;
- the ability to generate additional income thanks to the Proof of Processed Payments protocol. When using Metal, you can not only carry out operations using a crypt but also receive a financial bonus for this in the form of MTL coins;
- Metal tokens can be used to pay for goods and pay for services in the real world using an ordinary bank plastic card;
- MTLL tokens can be used to open bank accounts with automatic conversion of crypto into fiat money;
- the presence of an advanced system for calculating bonuses for the activity shown by the user;
- constant operation of various loyalty programs.
Disadvantages of Metal
It is difficult to assess the disadvantages inherent in the Metal coin that is associated with the youth of this project. The only obvious drawback of this cryptocurrency is its incomplete functionality, explained by the beta testing of the site. Only after the official launch of the crypto platform and the launch of all its services will it be possible to find out all of its vulnerabilities and technical flaws.
