Review on Miners' Reward Token by Fabrizio Zampieri
Miners Reward Token is a proof of stake token operating on the Waves blockchain…
Miners Reward Token is a proof of stake token operating on the Waves blockchain. It is a flexible tool that allows miners to vote for certain network parameters and other issues that affect them.
Created by the WAVES community, the MRT stabilizes its growing network by rewarding nodes without inflating, in medium-long period, the already existing supply of coins. As all WAVES products, it can be exchanged for the older, more valuable coins and Waves, simply by using the integrated decentralized exchange in the community’s client.
The MRT aims to incentivize the activity of a full node adding more transactions and thus, stabilizing the network as a whole. Summarly, MRTs are transactions happening at a high frequency, constantly running, fast. The main treason of to the creation of the MRT is security.
The MRT makes sure there is incentive to mine as you are rewarded for your transaction fees. These tokens can later be used or otherwise be exchanged for ordinary Waves coins.
As the number of transactions were low, WAVES introduced the MRT to bring incentive to setting up nodes and thus, from that, to mine, and bring activity to network and make the circulation of revenue greater.
We report a June 6th, 2018: the company had already purchased back 20,795 Miners Reward Tokens. However, they made amendments to this policy in a new Steemit post, where they updated investors on what their buyback program had done. Thus far, they have:
Purchased 278,734.74 MRT
Burned 26,933.66 MRT
Distributed 251,801.08 MRT to the mining nodes
In this update, they let users know that there is a new calculator in place on their official website to demonstrate how much a user can make when they mine.
Miners' Reward Token (MRT) is a token and based on the Waves platform. Miners' Reward Token has a current supply of 10.000.000 MRT.
MRT is tradable on Tidex and on Waves Decentralized exchanges
Pros
- - Waves recently announced a new feature, that is the possibility to pay transaction fees in tokens hosted on the Waves network (among them also MRT), rather than in the native WAVES token itself. - It is possible to also benefit from revenue without mining by leasing out your MRT to miners, but without never losing complete control of your assets. - Miners can earn up to 1 % of their holdings monthly. - Interesting project with great potential in medium-long term. If you are a MRT holder I suggest to keep them in your wallet and waiting for growing value.
Cons
- - MRT is inflative for WAVES platform in short period.
