Monet – ICO Detailed Information

The evolution and development of cryptocurrency and blockchain technology over the last decade have revealed the flaws in the modern systems and industries around the world. Many of these flaws were unnoticeable, before we knew that we could do better, and this path to the more practical solutions was brought by cryptos and blockchain.

These new technologies revealed the advantages of decentralization, expanding the possibilities, and providing new solutions that could impact the world in a positive way.

However, even after years of development, we are still quite far away from implementing and perfecting these solutions. This is a consequence of the complexity of these issues, but also of the technology that is supposed to solve them. Simply put, there is a lot more to blockchain than meets the eye, and many experts believe that we have only scratched the surface when it comes to its development and evolution.

Even the blockchain itself still suffers from a lot of issues, many of which can be resolved, but the process takes time and effort. Still, this evolution does keep going with each new project, and one new solution that was designed to solve the problems regarding scalability and decentralization is one such project. Its name is Monet, and it is the project that interests us today.

About Monet

As mentioned, Monet is a project that aims to solve the issues of scalability and decentralization through the use of mobile ad hoc blockchains. It is based on a consensus system known as Babble, and it is capable of processing thousands of transactions per second.

The concept behind the project is relatively simple to grasp. In the P2P economy, individuals act as providers of services and goods, as well as customers. However, such an arrangement cannot survive on a centralized client-server infrastructure. This was realized a while ago, and since then, there were several attempts to move such services to the public blockchain. However, this has proven to be inefficient, as this kind of a solution required each node around the world to process every command.

There is a way to partially solve the issue by creating a more efficient consensus protocol, although the very idea of implementing localized services on a public network that is globally available is fundamentally flawed. Monet comes with another solution — a system that is based on mobile ad hoc blockchains.

With this solution, groups of people that are involved in pretty much any activity or task could create temporary networks with nothing but their phones, and coordinate themselves by themselves, with no third parties needed for delegating the responsibilities. All that the users would need to do is connect to those they need to be connected to, and stay connected until their interaction is needed.

This approach can significantly simplify things and provide a better, faster solution, and all it requires in order to work, is Monet's native cryptocurrency, which will be offered in a token sale within a few days.

Monet ICO details

As mentioned, Monet is preparing to launch its ICO right now. The project originally held a preICO from July 15th to July 31st. The ICO itself will start in about five days, on September 16th, and it will last for about 11 days, ending on September 27th.

The project will offer a token known as TENOM, which is a utility developed on a separate blockchain, instead of utilizing Ethereum, EOS, TRON, or some other development platform. Interested investors will be able to purchase the tokens in exchange for ETH, CHF, or USD, and its price will be 1.54 CHF for 1 TENOM.

The project has set up a hard cap of 6.160,000 CHF, it offers a bounty, and it was registered in Switzerland. It has three restricted areas — Japan, China, and the US. Everyone else is allowed to participate, as long as they go through KYC and Whitelist procedures.

Author: Ali Raza for Crypto-Rating.com