A discussion with BizzyB & the MUE team on MUE
What is the edge of MUE over other Cryptos?
Well, firstly it works!
MUE did a straw poll recently and chose 5 random crypto projects with a market cap between 2-5 X the MUE market cap. So these aren’t “hobby projects”, they are a net worth projects.
Out of those 5 projects, only ONE had no issues with installing the software wallets.
The MUE wallets all work. MUE have multiple versions, Windows 32 & 64 bit, OSX, Android & web.
MUE can be used!
As a project team, MUE often ask, what is our main goal?
Our main goal is that Monetary Unit can be used to buy everyday goods and services.
Discounts for purchasing goods or services using MUE is an important goal for us.
For example when using www.MUEX.io you will find the majority of services & apps within
MUEX allow MUE users to obtain bigger discounts or better bonuses.
While MUE works towards accepting all crypto, MUE also aim to bring more people into MUE and to do that MUE make it even more attractive to use MUE when buying.
Why is MUE interesting to crypto Investors?
MUE was launched 27th July 2014. The Monetary Unit reputation and brand has been well established. The project is respected and trusted within the crypto community and has not been accused of any wrong doing of any kind at anytime.
The economic design of MonetaryUnit means that 10% of all created MUE is reserved for the benefit of the project.
This pool of funds is available for people to request budget proposals to utilise this fund to help the project. The proposal may be to cover overheads, such as server costs, or to pay for marketing, or development of a particular application or service.
Governance built in.
The budget proposal system is not a free for all. It is a democratic process that is maintained and monitored by the MasterNode network.
Once a budget proposal has been made, the MasterNode network, the stakeholders of the MUE project, maintained by the individuals or groups that manage those MasterNodes, can then vote. 1 vote per MasterNode. A majority decision has to be achieved for the budget proposal to be approved. The funds are released at the end of the month through what is called a “SuperBlock”.
This self governing model is not widely used amongst other cryptocurrencies, and helps MUE maintain the integrity of the project, and helps to improve strategic & commercial decisions for the project and how it spends its own funds.
Are MUE transactions secure?
MonetaryUnit has been secured computationally using two different layers. The first layer is the mining layer. Many computers all working together to confirm all transactions processed within the MUE network are valid and honest. The second layer is the MasterNode network. These check all the miners to make sure the transactions they say are valid and honest are in fact valid and honest.
So if the first layer of security, the miners, allows a transaction to be processed that is incorrect, the second layer of security, the MasterNodes, will refuse that transaction.
Working in tandem, this system, used by only a handful of crypto projects, allows for a very secure network, providing security & stability to all that use it.
Instant payments & privacy
The software wallets provided for use with MUE have several advantages of many of the other cryptocurrencies, including Bitcoin.
For the extremely busy, or for urgent transactions, the Instantsend function means you can send a payment and it will be instantly received and confirmed by the recipient.
During busy times, a Bitcoin payment can take up to 48 hours to be received by the recipient!
For the privacy concerned, or slightly paranoid user, the PrivateSend function is another special inbuilt function that allows you to send MUE to a recipient, and it makes it impossible for the end receiver to know what wallet those funds were sent from.
How would you describe the future of MUE?
Monetary Unit is about getting people involved.
MUE are not an elitist group of academics or high net worth individuals.
As a group, MUE want to grow the project, involve and help people about MUE, and get a grass roots growth not just on the internet, but also on the high street, with people carrying around MUE coupons, or having MUE wallets installed on their phone.
The coin is not being marketed as a “scarce commodity” like so many other cryptocurrencies.
The worth of the project comes from allowing people to get involved at any time. It is attainable, and if you don’t want to buy any, just ask the community and someone will just send you some to use and test 🙂
MUE don’t have any kind of “halving” of coin production. Inflation is going to be about 3% per year, which promotes the use and distribution of MUE. 40 MUE every 40 seconds from now for at least the next 130 years. This is the time for you get involved, and MUE welcome all those who do.
A few words from Bizzy B
In the future MUE are changing their infrastructure to one based on X11 and masternodes, such a system will increase the long-term viability of the crypto-currency. This change is in the pipeline and should be implemented in the coming months. Doing your own due diligence when investing in cryptocurrencies is essential.
How will x11 change $MUE?
- Focusing on X11 specifically, this allows us to reach a much larger market of miners.
- Whilst this will hopefully bring more exposure to MUE to new people, it will also bring in more network security from an increased overall hash rate.
- The other potential upside is an increased mining difficulty which may help reduce the availability of MUE and therefore help support a price rise.
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