Melon coin is at the helm of a blockchain-based protocol that is specially tailor-made for a new and specialized breed of capital hedge funds. In this model, the investment parameters and the prospectus are typically enforced by a set of smart contracts that are backed by Ethereum. This is in line with the fact that cryptocurrencies are fast gaining popularity as one of the newest methods of monetary exchange. Like an ordinary cryptocurrency variant, Melon Coin packs almost the same characteristics which include:
1. Uniqueness
The Melon Coin or Tokens blockchain is uniquely coded to the extent that it is almost impossible to counterfeit, fake, or reverse a transaction arbitrarily, whether by the sender or the receiver of the funds. As such, the hedge funds that are implemented with this kind of technology are safe from the typical and fraudulent credit card chargebacks.
2. No need for a Third Party Approval
Compared to the conventional way of investing in hedge funds, the inception of Melon Coin has done away with the need for third parties such as Lawyers or Trustees in a transaction. This also implies that the investor will incur less to no fees and zero delays when using this approach. In fact, Melon Coin contracts are enforced and designed to eliminate third party approvals and completed within a fraction of the time that is typically required to finalize traditional and conventional cash asset transfers.
3. Zero Chances of Identity Theft
Just like the basic cryptocurrency operation mode, Melon Coin transfers are designed as a ‘push’ and not ‘pull’ basis. In this case, the investor decides the exact amount of money that he wants to plow back to his asset, without necessarily having to divulge any personal information to them. This kind of anonymous investment has been lauded to be the future of hedge funds investments in a few years to come.
4. Decentralization
A global network of Melon coin based computers implements blockchain technology to conveniently and jointly manage the computerized database that records the token’s transactions. In other words, the hedge funds are managed by the network itself and not any central authority. And considering the whole setup is extensively decentralized, it implies that the operating network works on a peer-to-peer basis as opposed to having one central admin.
Secondly, since cryptocurrencies are generally not backed by any fiat exchange rates, bureaucracy, interest rates, transactions charges or any other government implemented charges, the Melon token system can be implemented internationally without any repercussions, kinks or problems. Unlike conventional hedge funds investments, the Melon Coin system ensures that you own the public key and the corresponding private key that makes up the blockchain’s address. This gives you such unfettered access to your funds that is impossible to achieve through conventional means.
Now, that aside, the Melon blockchain-based protocol was first run by one Mona El Is, a former Goldman trader and the current CTO in Reto Trinkler. The initial coin offering ( ICO ) was lauded to be quite successful as it hit and surpassed its preset target of 227,000 ETH within just a few minutes. At the time, it raked in over USD 6.5 million.
The Exchanges to Use
The Melon protocol is simply a blockchain protocol that is used to implement digital asset management on an Ethereum-based platform. It allows the participants ( investors ) to manage, set up and invest flawlessly in digital asset management strategies. Unlike in old model or traditional version, this is now down in a competitive, open and decentralized manner. As such, the main cryptocurrency in the scene here is Ethereum. And Ethereum can be exchanged or purchased through a variety of outlets such as Coinbase, GDAX, Bitstamp, Bitfinex, Kraken, and Poloniex.
On the other hand, at the moment only Krakensupports the trading ( MLN/XBT ) melon-bitcoin and MLN/ETH ( Melon-Ethereum).
The Wallet to Use
Since the network relies primarily on Ethereum transactions, any Ether wallet can support the Melon tokens as well. Good examples of this are Mist and Parity. There are also plans for MLN to be exclusively available on Kraken’s brand new trading platform.
In Closing
You can effortlessly deposit your Melon tokens in a Kraken account by clicking to Funding then Deposit and selecting MLN. After this, generate a new address and then send your Melon tokens to this cryptocurrency deposit address.
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