M-coin Review: Your Data Belongs Only to You
Decentralized blockchain advocates started off with the “Be your own bank” concept that first targeted the financial aspects of life. In the recent years, the DeFi direction has been developing in leaps and bounds. However, another direction of equal importance has been dangerously overlooked up till now. It is the way we store our data and handle its privacy.
The way centralized platforms do it today is utterly unacceptable. We’ve all heard about gigantic data breaches on Facebook, Twitch, and every other big platform. Centralized service providers simply cannot ensure the safety of data. Being centralized means you store all data in one place and have a single point of failure. If safety of your data depends just on one point, it will fail.
Sadly, this is not the only problem. Safety has a baby sister called data misuse that leads to safety problems. The key question here is not “Will the service provider misuse my data?”, it’s actually “When?”. Each service provider eventually reaches a point where they are interested in using or selling user data. The game is over for you the moment they have access to your data. If you look into their Terms of Use, you will definitely find a ton of scary tricks letting them (mis)use your data.
The advent of Web3 brings new much-needed approaches to tackle these data problems. The Web3 company Maximus Tech Solutions from Dubai, UAE, issued the cryptocurrency M-coin and looks to ensure the privacy, security, and true user ownership for data with their open-source decentralized cloud storage network. M-coin addresses expensive centralized cloud storage, low data transmission speed, data breaches, and privacy leaks. It builds a global network of millions of host nodes and offers a sustainable infrastructure at a lower cost. As the project adopts a P2P mode, there are multiple data copies in different locations, which increases the throughput/download speeds.
Reading this, you may rightfully ask: “Isn’t having multiple copies more dangerous than having one centralized point of failure?” M-coin team has thought it all through. Data is first encrypted and sharded and only then reaches the host nodes for storage. No one can view the encrypted data shards, let alone manage to combine them and extract the original data. That’s impossible even for M-coin itself. There is a reward and punishment mechanism in place. Host nodes that fulfill the smart-contract agreement earn token rewards. Those who breach the agreement are expelled and get no rewards.
The advantage of M-coin compared to purely software-based blockchain projects is that it will offer self-developed hardware devices. Mark 2 will be a handheld device running on Blockchain OS with global SIM cards. Mark 3 will be an all-in-one blockchain computer for personal and corporate usage. Mark 4 will be a secure handheld blockchain device with hardware wallet functionality.
M-coin issued on Binance Smart Chain serves as the native currency for the M-Tech ecosystem. It serves as a payment method, a store of value, a measurement unit, and an investment vehicle. The private sale and presale completed last year at $0.15 per token. Now, they unroll token sales on exchange platforms in stages and have just announced a 20 million token IEO on Coinsbit during January 16th to 30th, 2022, at 0.25 USDT per token.
The project has a neat roadmap. Later in Q1, M-Cube farming will start. Launch of M-Cloud cloud storage packages and more exchange listings are scheduled for Q2. It is worth mentioning that M-Coin takes the initiative and targets some of the most important data usage industries, namely, social networks and medical care. They plan to offer a secure private blockchain browser in late 2022 and the M-oon secure social networking app with cloud calling, messaging, and conferencing and a secure blockchain app for patient data storage for hospitals in 2023.
If you wish to join the IEO, mind that Coinsbit requires complete KYC and that the minimal investment is 1,000 M-coin at 0.25 USDT. M-coin also launched a lucrative referral competition for $186,000 worth of tokens on their website. You can refer friends and win prizes spanning from 20 $6,000 consolation prizes to $15,000–30,000 for the first three places. Go try your luck in the competition, grab a bag at the IEO, and remember that owning your own data is as important as being your own bank.
Website: https://m-coin.io/
Whitepaper: https://m-coin.io/Content/whitepaper/English.pdf
Facebook: https://www.facebook.com/mcointech
LinkedIn: https://www.linkedin.com/company/m-coin
Medium: https://medium.com/@mcoin.tech
Telegram: https://t.me/mcointech
Twitter: https://twitter.com/McoinTech
IEO Link: https://coinsbit.io/ieo-list/MCOIN_97
IEO Rundown: https://drive.google.com/file/d/10ftVuIVPJ5eqMfBBWmhFhwrBmHAflkLC/view
Token Contract: https://bscscan.com/token/0x51610A14955e0233C815efc7ba4BD89592939c1e
See more IEO details in this post: https://t.me/AladdinCenter_ANN/92