Review on Monetha by Ali Huseynov

What is Monetha (MTH)?

Monetha: The Basics

The e-commerce industry has seen a strong growth rate over the past few decades. Despite the rapid increase in the number of online buyers, merchants face difficulties in trust and reputation, payment process and inability to reach the Ethereum economy.

Monetha is a decentralized payment solution to solve all these problems. It runs on the Ethereum blockchain network with smart contract technology to provide merchants with convenient payment solutions.

The main purpose of this platform is to enable real-time transactions between customers and merchants without any third party. Besides, the platform will also integrate e-commerce with the Ethereum economy.

Monetha Development

Monetha is a project co-founded with Laurynas Jokubaitis and Justas Pikelis and developed by Andrej Ruckij .

Pikelis has the experience and skills in financial technologies that will provide the momentum towards the team. Jokubaitis teamed up with Ruckij and the duo successfully crafted Monetha.

What Are the Benefits of Monetha?

Monetha Technology

At the heart of Monetha's technological infrastructure is the Decentralized Trust and Reputation System (DTRS). This protocol works with Smart Contracts to create a trusted relationship between customers and vendors. An internal algorithm verifies every transaction and provides confidence ratings accordingly.

The platform also uses the Trust Rating mechanism to create transparency between interested parties. These ratings are visible to every user and are given based on consumer and seller behavior patterns.

Monetha follows a simple workflow. The servers generate a QR code when customers place an order. Price currency, order number, warranty, delivery etc. encodes all the details about the order, such as When the client scans the code and presses the submit button, the transaction is transferred to the blockchain network.

The product architecture consists of three parts:

traders

configuration panel

Ethereum blockchain

Sellers receive payment from retail or e-commerce. The configuration panel allows them to manage their funds and profiles with their trust ratings. Blockchain deals with customers, claims and payments.

Monetha's team has developed a solution for merchants to integrate a Monetha payment gateway script into their website to accept payments.

Monetha Transaction Process

To shop with Monetha, customers will need to select the Monetha gateway for payment. The payment amount is converted to ETH-based token amount.

Transactions are made over Monetha's blockchain network. Blockchain saves the time of transactions, regardless of whether it is retail or e-commerce.

It sends the addresses, warranty conditions, delivery time and details necessary for establishing legitimacy. All this information has been hashed for security purposes.

Monetha Features

Transparency: One of Monetha's most advantageous features is the level of transparency it brings to the e-commerce payment system. Both customers and traders can better transact fraud-free in Monetha's decentralized system.

Accessibility: Users can access the platform from their mobile phones. Unlike some traditional payment methods, Monetha provides more accessibility and convenience to its users.

Customization: With Monetha, traders have full control of their funds. Its easily manageable settings and customizable preferences help traders to manage their assets well.

What is Monetha's Future?

Monetha is working according to a well-planned roadmap. The first phase was the roadmap aimed at developing a fully functional payment gateway for merchants. It allows them to accept ETH as payment. The time set for this phase was early 2018.

Phase two also plans to make Monetha a payment platform for ETH-based tokens. It will allow traders to exchange both Ethereum currency and Ethereum-based tokens for fiat currency transactions. This phase also aims to develop smart contract wallets, build dashboards for merchants and create real-time analytics.

The third phase is set to make improvements to the decentralized trust and reputation algorithm. You can also get ratings, reviews, etc. for Monetha. It will develop a smart contract-based mobile application that provides various features such as

The fourth stage will allow both sellers and consumers to resolve claims and rank to build trust and reputation. This phase will further develop the trust system.

Phase five will allow retailers to operate with a decentralized system of payment, trust and reputation.

How to Buy and Store Monetha?

Monetha (MTH) Purchase

MTH tokens; Can be purchased on exchanges like HitBTC, Coinecko, Mercatox, and CoinCodex

Monetha (MTH) Storage

MTH coins can be stored in any ETH wallet like MyEtherWallet as they are ERC20 compatible. Other storage options include hardware wallets like the Ledger Nano S and Trezor. Exodus and Jaxx are also storage wallets for MTH.

How Is Monetha Different From Other Cryptocurrencies?

Platforms like PayPal are Monetha's competition in the non-crypto market. TenX, Satispay and C2FO are some of the platforms that offer competition to Monetha in the crypto market. However, there are some features that set it apart from the rest.

The speed and fees of transactions with Monetha are better than others. It works without intermediaries and offers instant payments with nominal transaction fees.

Monetha charges a minimum transaction fee of 1.5% from merchants. This fee is collected in a fund and all MTH token holders receive 33% of the total fund.

Should You Invest in Monetha?

It is clear that Monetha provides benefits for both customers and vendors. With the goal of revolutionizing the online payment system, Monetha has established itself as one of the first platforms to integrate fiat and cryptocurrencies.

With the ever-expanding e-commerce sector, Monetha has the potential to bring it to market. A well-defined roadmap, with a team of experienced developers, can lead the project to greater progress.

Due to its relatively new presence in the crypto market, the value of the coin has remained low.