Will Xchange Monster (MXCH) Raise The Bar For Crypto, Outshining Ethereum (ETH), And Leo Token (LEO)?
The Monster Mash – Xchange Monster (MXCH)
Xchange Monster (MXCH) is creating an ecosystem that will change the way traditional gamers interact and operate in the long term. The platform aims to become the middle-ground for gamers and publishers to communicate, creating a space that caters to the needs of those participating in play to earn and enhance the current functionalities of the Gamefi ecosystem.
Xchange Monster (MXCH) has three main components to the platform that will not only improve the gaming space but provide the crypto market with an alternative option for decentralised finance. The platform features are Monster Pay, Monster Exchange, and Monster Wallet.
The decentralised wallet is already available to download on the app store while the exchange and the payment gateway are still in development. The team set themselves the agenda to push the possibilities of this new technology while attracting users from diverse areas.
The Gamefi sector has great potential. One of the key setbacks is the lack of regulation in the industry, making it difficult for gamers to access rewards via gameplay. The team has considered this a priority during the process, ensuring that regulation is at the absolute forefront.
The project has a membership with the VQF, a regulator recognised by the Swiss Financial Authority (FINMA). A trusted institution adding gravitas and legitimacy that will ensure the trust of users of the platform.
An important factor of Xchange Monster (MXCH) is that they have a dedicated team that can be easily verified online. A doxxed team will increase user adoption, as it signifies the accountability of those entrusted. It is an important aspect of this project, especially with the high degree of scamming within this young market.
Old Dog, New Tricks – Ethereum (ETH)
Ethereum (ETH) is a global computer network that functions on a blockchain. It is a platform that enables developers to build decentralised applications to create a new financial system that caters to cryptocurrency.
It was first introduced as a platform to facilitate smart contracts. Smart contracts are an autonomous set of algorithms that perform functions once conditions are met. Decentralisation is facilitated by smart contracts, eliminating the need for a third party to ensure things are taken care of. Everything decentralised is peer-to-peer without a centralised governing authority. The smart contract verifies everything necessary.
Ethereum (ETH) was developed in a programming language called solidity. This is a language developers universally recognised to specifically cater to the deployment of smart contracts.
Ethereum is powered by its native token ETH, without ETH developers and retailers cannot use the network. The ETH token is the primary currency on the network. ETH is needed to facilitate transactions on the network and navigate accordingly. Ethereum has been described as the current version of web3, although there are still improvements to be made on the network the growth potential is among the highest.
The Lion’s Share – Leo Token (LEO)
LEO is an exchange token first launched by iFinex in 2019. iFinex is the parent company of Bitfinex, Tether, and Ethfinex. The project’s utility is derived from in-exchange benefits on iFinex platforms. While having similar functionality to most exchange tokens, LEO was issued for a specific purpose. In 2015, Bitfinex developed a partnership with Crypto Capital as a solution for issues with a U.S correspondent bank.
The Leo Token was primarily created to benefit users of the iFinex ecosystem. LEO gives holders a range of discounts on the Bitfinex platform and other iFinex products. Discounts include taker fee reductions, lending fee reductions, and withdrawals.
Despite going through a period of adversity, Bitfinex remains one of the major cryptocurrencies in the market today. The platform is a lead player in the cryptocurrency exchange market, with more than one million visits every week.
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