The Mobilecoin ICO has been one of the most discussed projects in the cryptocurrency market in late 2020. This project wanted to offer private, secure and easy payments for individuals who deal with cryptocurrency. This is why they decided to sell tokens and raise funds to create their Mobilecoin ICO platform.
But what is the Mobilecoin ICO project all about? In this guide, we will go through all the main characteristics of this project. Furthermore, we will share with you all the data about the token they released, its tokenomics and why you should pay attention to it, among other things.
What is Mobilecoin ICO?
The Mobilecoin ICO is a project in the cryptocurrency market that wants to offer private, secure, fast and reliable payments to users. ICO stands for Initial Coin Offering. This is a term used in the crypto industry to distinguish projects that want to raise funds by selling tokens to investors.
In some cases, Initial Coin Offering projects such as the Mobilecoin ICO might or might not have a developed product or service to offer to the community. Thus, there is a wide range of development stages in the ICO industry.
But what is Mobilecoin ICO all about? As the company explains on its website, the Mobilecoin ICO project wants to offer private, safe and easy payments at light speed. The goal is to offer a payment solution that is easy to handle and that is secure for individuals that want to perform transactions.
The cryptocurrency is designed to work on users’ phones providing near-instant transactions. This is one of the things that few other virtual currencies were able to offer over the last few years. However, we have seen how the Bitcoin lightning network (LN) continues to grow and expand all over the world.
Despite that, the Mobilecoin ICO has released a Whitepaper where investors can find all the information about this project. The interesting thing about the MobileCoin whitepaper is that it was released on November 13, 2017. At that time, the cryptocurrency market was reaching new highs with Bitcoin getting closer to $20,000 per coin for the first time in history.
Additionally, there were many Initial Coin Offerings being released to the market on a daily basis. This was considered the ICO craziness that ended with most of the ICOs and their tokens disappearing in just some years.
The official site does not share information about a roadmap for the coming years. This could be something that could damage the image of this project. Having a clear roadmap with achievable goals and future plans shows that the team is focused on working on the project and trying to achieve the next steps as soon as possible.
Let’s now start with the features of this Mobilecoin ICO. The first thing we will talk about would be its design. Then we will go through the transaction privacy feature and then the consensus that the project is currently using. These are just some of the features offered by the Mobilecoin ICO.
In terms of design, the company addresses the fact that many users are not capable of using a P2P network. This is something that has been affecting the way in which companies offer services to users and the speed at which these services expand.
This is why the Mobilecoin ICO relies on nodes that are designed to serve users. These nodes maintain an expensive ledger and process the transactions of the network. It is worth mentioning that node operators do not know anything about users’ balances and transaction history.
In terms of transaction privacy, the project uses CryptoNote. This means that these are one-time addresses and one-time ring signatures. In this way, the Mobilecoin ICO maintains transaction privacy. All the addresses are unlinkable and protected. This is similar to other virtual currencies in the market.
For example, Monero (XMR) is a cryptocurrency that does not share information about the transactions that are processed or the wallet addresses of users. In this way, private information remains protected at all times.
In terms of consensus, they use the Stellar Consensus Protocol to synchronize their ledger. This works by allowing for sub-second transactions under normal circumstances. Furthermore, with this consensus algorithm, it is also possible to avoid storing a full blockchain transaction history.
Furthermore, this is also very positive in terms of secrecy. By using this system, the information about transactions can be deleted after the transaction. This is even better than having just private information on transactions.
Mobilecoin ICO Wallet
The Mobilecoin wallet has been designed in order for applications such as WhatsApp or Signal could work as a MobileCoin wallet. That means that messaging apps would be able to secure the transactions and information to process the transfers.
In addition to it, a wallet such as the one designed by Mobilecoin could work by searching for the username. That means that it becomes much easier and faster to send transactions to other users. This is also one of the reasons for the name of the Mobilecoin ICO.
This is one of the most promising features of the Mobilecoin ICO. Why? Because in the future, several messaging applications could become a wallet for the Mobilecoin token. Users might not have to download an additional wallet, it might be integrated directly into the most popular messaging apps.
This would already help the Mobilecoin ICO get access to a large number of users that are already using these messaging apps on a daily basis. How this integration with messaging apps is expected to be, is not clear yet, but there is a clear potential for this virtual currency.
Team Behind Mobilecoin
The Mobilcoin ICO team is formed by Joshua Goldbard and Shane Glynn. Joshua is known for being a mobile and telecommunications expert that has experience with different information systems and solutions. He has also a decade of experience working on different initiatives. Furthermore, he has implemented a wide range of networks of significant complexity for AT&T and other companies.
Meanwhile, Shane Glynn works as a lawyer that has a passion for adrenaline and logical consistency. He has a background in telecommunications and mobile devices. He is also closely following the current crypto market in terms of regulations.
The team of the Mobilecoin ICO is working with different advisors in order to create a product and service that is at the highest standards of the market. It is definitely important to have a team with experience and knowledge about the crypto market.
Several ICOs have been launched over the last few years that did not have a team with the necessary experience to carry on with a project. This is why many have failed. Mobilecoin ICO advisors and its team must understand the current challenges and offer investors a unique and reliable project.
The token is an ERC-20 digital asset that focuses on privacy and that wants to offer users the possibility to send and receive private and secure transactions. The token focuses on 4 different pillars: privacy, transaction speed, energy consumption and optimization for mobile devices.
There is little information about the MOB (Mobilecoin ICO token). The total supply of this coin is 250,000,000 MOB but there is no information on whether this is expected to be the maximum supply. As reported by CoinMarketCap, the circulating supply is also a mystery, as there is no data on that matter.
The current fully diluted market capitalization is at $3.6 billion. There is no detailed information on the website about the tokenomics of this project. It is usually important to understand the details of the tokenomics of this coin. Without this valuable information, it might become difficult for investors to make a decision on whether to buy this virtual currency or not.
There is also no data on how the allocation of the coins is going to take place during the token sale. Projects that remain decentralized are usually more valuable than those that prefer to keep large rewards for the founders.
The first thing we should know is that the token sale for the Mobilecoin ICO has already ended. $137 million were received by the team behind this project for their ERC-20 token. The token has received support from investors such as Alameda Research, Berggruen Holdings, BlockTowner Capital, Coinbase Ventures and 10X Capital, among others.
There’s a large number of investors that want to fund a company that is working in order to democratize privacy for everyone. With this project, they want to provide easy-to-use privacy transactions for everyone in a sustainable way.
It is worth mentioning that the token sale took place at the end of 2020 and it was able to gather a large number of funds, as we mentioned before. This shows that there were several large investors with very positive views about the future of this project.
Token sales are always important. In some cases, the project releases the token at a price and then the coins are sold to the market, which pushes the price downwards and discourages investors. Furthermore, it would also be important to know how the allocation of coins has been as there are no details about this on the whitepaper.
Let’s now talk about price. This is one of the most important things if we want to understand how this project has evolved over time. The first thing we should take into consideration about Mobilecoin price is the fact that it was launched at a price of $1.57 and in some months it was traded above $71 for a brief period of time in April 2021.
At the time of writing, the price of this virtual currency is close to $14.50. In the last seven days, the price has fluctuated between $14.20 and $16.98. This closely follows the trend of the market in the last seven days as it has moved down due to a large pressure from bears. In the last 24 hours, the trading volume has been close to $1.1 million in all of the exchanges that support this coin.
At the moment, there are several cryptocurrency platforms that are supporting this virtual currency. As CoinMarketCap reports, FTX, HitBTC, Bitfinex, BigONE and Hotbit are some of the exchanges that are currently offering support to the Mobilecoin ICO token. Users that want to buy this digital asset should open an account on any of the above-mentioned exchanges and get access to the coin they want.
It is difficult (impossible) to make a clear Mobilecoin price prediction. Indeed, the entire crypto market has seen projects that disappeared in just months after being released to the market. This project’s whitepaper has been written in 2017 but the token sale took place at the end of 2020, which shows that there has been a large time gap between the idea and official launch.
Which have been these problems, we do not know. Thus, it is also worth taking that into consideration at the time of analysing this Initial Coin Offering. In the future, new exchanges could add support to the MBO virtual currency.
Final Words on Mobilecoin ICO
The Mobilecoin ICO is a project that wants to offer private transactions for users that have a messaging application. With this in mind, the goal is to offer a fast and easy-to-use cryptocurrency.
Mobilecoin ICO received large investments from recognized firms that want to be part of this project. However, the official site shares little information about the tokenomics of the project or the team members behind it. Furthermore, there is no clear data on which are the future plans of the digital currency.
That being said, the token could change the way in which people handle money if a large messaging app decides to add support to the Mobilecoin ICO token. That could be a game-changer for this project. Despite that, its price has remained much higher compared to the token sale price close to $1.6.