Ripio Credit Network RCN to MonetaryUnit MUE Exchange

Crypto Pair Details: RCN to MUE

Ripio Credit Network RCN

Ripio Credit Network (RCN) is a global peer-to-peer credit network based on cosigned smart contracts that facilitates connections between lenders and borrowers across the world, on any currency. It enables people across the globe to access credit, and to provide loans. The RCN token is a typical ERC-20 token. This protocol has the smart contract technology embedded into the Ethereum blockchain which facilitates peer-to-peer lending without the hefty transaction fees that are charged in traditional banking processes. The RCN token functions at the core of the system. The inherent value of the token is directly correlated to the demand for its use in the network. Based in Argentina, Latin America, Ripio was launched at the TechCrunch Disrupt in May 2016. Sebastian Serrano, founder and CEO of the Ripio Credit Network is a technology enthusiast. He along with his team of technology experts, analysts and developers have designed an impressive concept along with the website, whitepaper and its implementation within the last 2 years. The team comprises of David Garcia (SVP & Board Member), Eugenio Cocimano (Data Scientist), Antonio Ceraso (CTO & Lead Blockchain developer) and Agustin Aguilar (Smart Contracts Developer) among many others. Ripio started off with a primary objective - to democratize the digital economy in Latin America, by offering digital payment alternatives within everyone's reach in a region where 65% remain unbanked. The smart contract is an integral part of the underlying technology of the Ripio Credit Network. It is generated by the Wallet Provider and executed when it is matched by the Credit Exchange. This smart contract contains information like the relevant credit terms, borrower obligations, events of default along with the signatures or verifications from all other agents. RCN tokens facilitate interaction with the smart contracts among different agents within the RCN. Every credit flow starts when the Borrower makes a credit request. The Borrower performs the request from its Wallet Provider, which has already integrated into the RCN protocol. Post this, the Borrower waits for an approval before any further action can be performed.

MonetaryUnit MUE

MonetaryUnit (MUE) is a fork of Quark. There will be a total of 1 Quadrillion coins (i.e. 1,000,000,000,000,000 MUE). There is a 40,000,000 MUE pre-mine (0.000004% of total supply) to fund faucet, giveaways, promotions and development of which 9,0000,000 MUE has already been given away or used for development. The release of MonetaryUnit is staggered into 10 different stages. Each “stage” lasts about 18.5 days, and is made up of 40,000 “blocks”. Each block is released every 40 seconds, and a block is the reward for mining the MonetaryUnit network. The block reward changes at every stage, so that the number of coins released per day will change every 18.5 days up until stage 10. At stage 10, the number of coins released per day will always be 86,500 coins per day, or 40 MUE per block. MUE is a coin that has a fair launch with a block reward schedule that increases as time goes on. Here is the block reward schedule: 0.025 MUE reward for first 40,000 blocks (54 MUE/day) 1 MUE reward for next 40,000 blocks (2160 MUE/day) 2 MUE reward for next 40,000 blocks (4320 MUE/day) 4 MUE reward for next 40,000 blocks (8640 MUE/day) 8 MUE reward for next 40,000 blocks (17280 MUE/day) 10 MUE reward for next 40,000 blocks (21600 MUE/day) 20 MUE reward for next 40,000 blocks (43200 MUE/day) 30 MUE reward for next 40,000 blocks (64800 MUE/day) 40 MUE reward thereafter (86400 MUE/day)

SOURCE: COINGECKO

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