Review on Melon by francis fernandez
Melon: a cryptocurrency backed by Ethereum technology
Melon is a blockchain that allows managing multiple digital assets in a decentralized and secure way, due to the immutable nature of its accounting ledger.
Token:
For the management of network operations; the MLN token is used. An ERC-20 token developed on the Ethereum chain.
Mining:
The MLN token cannot be mined directly because it is a cryptocurrency operated on the Ethereum chain. The only way to mine MLN is to mine ETH and then acquire MLN with the returns obtained.
Regarding the security of the token; this responsibility is in charge of the miners of the ETH network.
MLN Storage:
There are several options for saving MLN tokens; However, for our well-being, we must choose the most convenient one; that is, the one that offers the least risk of electronic fraud. In this sense, we can opt for hardware wallets that are compatible with the MLN ERC-20 tokens.
Token uses:
• It is a digital gateway for asset management.
• Allows the user to have control to decide whether to invest in other people's wallets or in their own portfolio.
• Serves as a form of payment of transaction fees
• Serves as a payment currency to acquire other cryptocurrencies.
• Serves as an investment instrument
• Allows staking and trading of assets.
Technology:
Due to the nature of the MLN token, smart contract technology is used to achieve the management of crypto assets that constitute the capital hedging resources automatically.
In this sense; MLN's smart contracts allow investments of coverage resources to be integrated into the network.
Pros
- It is a secure tool for the exchange of crypto assets.
- Allows you to trade assets
- It is an ERC-20 token compatible with multiple digital currencies
Cons
- It is not accepted in shops
