Home CryptoNews China's largest price control application of Cryptocurrenies - Can MyToken restructure the...

China’s largest price control application of Cryptocurrenies – Can MyToken restructure the cryptocurrency investment ecosystem?

The Blockchain industry witnessed a boom in 2017. With its security, reliability, decentralization and tamper-proof features, the blockchain technology is seeing an increase in interest, moving gradually from the classic geeks to the general public. Not only has it opened the doors to a revolutionary industry, but it has also made the cryptocurrency a new model of investment and financing, which completely detonates the financial market and presents an enormous commercial perspective.
However, opportunities and challenges coexist. Under the huge return on investment, a growing number of investors and teams enter the market every day, but the risk of investment in the field of cryptocurrencies increases while the market presents an unprecedented growth trend.

As a price control application with the largest market share in China, MyToken focuses on the weak points of the industry with the aim of restructuring its investment ecosystem and becoming a clear stream in the field of cryptocurrencies.

What are the critical points brought by cryptocurrencies with such disproportionate growth?

According to incomplete statistics provided by MyToken, there have been almost 500 financing activities, including fundraising for the public initial coin offerings since 2017, which raised a total of 5 billion USD. The rapidly inflated market and the crazy development trend expose the weaknesses of the cryptocurrency ecosystem in a clearer way.

Investment transactions are too fragmented for people to measure their personal assets. Today, the total number of different cryptocurrencies available for trading has skyrocketed to more than 2,000, while the number of well-known exchanges offering digital currencies has reached almost 300. For investors, the purchase of cryptocurrencies and the choice of the exchange are full of difficulties. Transactions often go through multiple platforms, such as over-the-counter trading desks and token exchange platforms. Users can waste a lot of time during cross-platform transactions. Due to extremely fragmented transaction processes, the general experience of users usually can not form an effective closed circuit. Meanwhile, it is difficult to measure the individual assets dispersed in the exchanges. The cost of starting to learn how the cryptocurrency trade works is usually high, making it difficult to use it as easily as stocks and futures.

The costs for the decision making of users are high, while the market is full of chaos. The essence of the investment of cryptocurrencies is the initial investment of businesses and projects, while people actually act as their investment institutions. However, unequal information between project parties and users can lead to incredible increases in investment decision-making costs. It has become a great challenge to judge the authenticity of a project’s information, the rationality of market value and the reliability of the equipment, and the user’s investment risk skyrockets accordingly. Meanwhile, given that blockchain has the characteristics of decentralization and globalization inherently, it is very difficult for countries and governments to effectively regulate the entire industry through administrative orders. With the inconstancy in the investment climate and the expectation of getting rich quickly, the phenomenon of fraud has often caused many investors to suffer losses and has caused chaos throughout the industry, which has been a blow to the industry blockchain that is currently living a rapid development.

This rapid growth can even worsen the weak points of the cryptocurrency industries. When many projects have raised a large amount of money to then unexpectedly disappear from the market, who will solve this situation so disturbing?

Can the arrival of MyToken reshape the investment in the cryptocurrency ecosystem?

MyToken starts from the weak points, committed to bringing a healthier future to investment ecosystems. The project began in August 2017 with a breakthrough in the cryptocurrency business. After six months of iterations of high-speed products, it has become the price control application with the largest market share, as well as the user base with the most active in China.

After a six-month development period, MyToken has successfully solved the first critical point in the cryptocurrency industry: meeting the needs of a single view of the instantaneous price between different exchanges, in order to achieve easy management of the personal assets of investors.

Currently, MyToken has quickly become the most popular market and information platform in China with more than 400,000 users, more than 150,000 DAUs, more than 50 mature communities of main users. The application now covers iOS, Android, HTML5 and Mac.

However, the price monitoring application is only the starting point for the platform to establish a complete business empire. Currently, MyToken is building a healthy cryptocurrency investment platform, with the objective of further improving the weak points of the industry and providing a bi-directional and transparent ecosystem for the development of the crypto market.

On the one hand, MyToken seeks to create an efficient investment environment that helps investors and developers to better understand and participate in the future world of blockchain. It helps investors to better understand the blockchain industry and the parts of the project with the most objective and neutral data, tools and information, reduce decision-making costs and integrate them into the blockchain world through data consolidation, UGC, community and ecosystem services in a more effective way.

On the other hand, MyToken will introduce decentralized technology and a token system to attract more eco-builders and business partners to jointly create an efficient, friendly and non-evil cryptocurrency investment ecosystem.

MyToken’s ambition does not come out of nowhere. Its broad user base and successful operational experience help us provide a transparent dual-track ecosystem. In addition, mature projects often tend to be more popular among investors. MyToken’s achievements and reputation in its industry have added more to our expectations.

Business layout of MyToken after ecological restructuring

Can your team driven by culture become a clear stream in the industry?

MyToken seems to have become a clear stream in the cryptocurrency market that is flooded with projects on the fly. Today, the platform is gradually expanding, transforming its ecosystem and based on the commercial architecture after the transformation, issuing cryptocurrencies with the ERC20 standard and the so-called MT.

MT will bring the value of circulation in the MyToken ecosystem and will become the blood of ecological co-construction and the consensus of values. At the same time, ecological value is linked more deeply to all its members and investors to encourage value investments. The system will periodically assign [MT Contribution] according to the amount and period of MT held by the users. [MT Contribution] will be linked to the rights of users in some scenarios and will be consumed in the course of user behavior. In the future, MT will show great value with the improvement and update of the MyToken business, which is mainly shown as follows:

1. The platform establishes the information channel between the project and the user through precise advertising, while MT acts as a value carrier to carry out the circulation between the advertiser and the user.

2. The platform links the main stock exchanges and offers complete negotiation services for the investors, while MT will be used to compensate the fees in the transaction process for the users.

3. The platform selects reliable projects to help project parties and investors to establish more precise channels of mutual options, as well as to build suitable ICO platforms abroad. Project parties can accurately disseminate fundraising information through MT, while investors can obtain a good experience and a highly consistent operational interface and avoid complicated and tedious processes through KYC single point certification.

4. Based on the ecosystem, the platform can establish comparatively more complete data services, such as quantitative trade, investment trade, derivatives trading, intelligent contract audits and professionalized project evaluation. Developers and professional teams can charge MT to users as service fees. Meanwhile, the MT contribution will be consumed when MyToken is about to become open source.

5. The platform creates a DApp Store. The participants and developers of the project can consume a certain amount of MT contribution to launch their DApp (decentralized application) in DApp Store, and obtain a better presentation of the actions paying MTs. Users can easily search or add their favorite DApps in the store and make recommendations and comments about it.

6. It also implements an active and reliable UGC content creation platform. As a value operator, MT circulates on the platform and becomes the value provider for users to create content.

Iris Zhang, partner of Spectra Ventures & Advisory, the consulting institution of MyToken, gives us a clue that products with behavioral approaches of high frequency users are more likely to be the entry to traffic. “In the next 3 to 5 years, this industry has a chance to live a unilateral increase.” He added that “it is also a rough estimate that shows that the monthly profit of MyToken will be largely counted in ten million CNYs.” In addition, the MT growth opportunity is also assured thanks to the token repurchase mechanism and it is very likely to meet the goal of repurchasing tokens to reduce its amount in circulation to 4 billion, however, the continued growth of users and the demands for cooperation will make MT a desperate need and definitely deserve a lot of attention. “

MyToken not only brought an ambitious plan for the blockchain world, but its pattern of healthy and stable development has also become a clear current in the blockchain world. As we can see, new reforms and challenges are getting involved in the area of irregularly developed cryptocurrencies. MyToken can help more people participate in the transformation of the blockchain era in a faster and more effective way and jointly create a bright future for the whole industry and the human world if they can establish efficient connections between blockchain and traditional markets, the parties and investors of the blockchain-based project and help all people to better understand the world of blockchain projects and the blockchain technology itself.

We hope that blockchain really exerts its value. We believe that MyToken can always rely on its “non-evil” values to make technology better serve human beings and bring prosperity to these times.

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