TrueUSD TUSD to Melon MLN Exchange

Crypto Pair Details: TUSD to MLN

TrueUSD TUSD

TrueUSD provides its token holders regular attestations of escrowed balances, full collateral, and also the legal protection against misappropriating underlying USD. The team believes that TrueUSD will be able to come up with the stable trading instrument for the traders of cryptocurrency that has been long-awaited. This will allow the businesses and consumers to use the digital currency as a medium of an exchange. The goal of the TrueUSD team was to build a coin that is stable and which can be used and trusted by them too. TrustToken is a platform that creates the tokens backed by assets that can easily be purchased and sold all around the world. The first asset token of TrustToken is TrueUSD, which is a stable coin and can be redeemed 1-for-1 for US dollars. TrustToken have partnered with registered fiduciaries and banks for holding the funds securely backed by TrueUSD tokens. To increase the amount of security, fiduciaries, and banks directly handle all the funds. Escrowed funds do not give access to the TrueUSD system. TrueUSD works with various trust companies which already manage around billions of dollars. Just pass an AML/KYC check, send USD to a trust company with an agreement of escrow. When the funds get verified, their API tells the smart contract of TUSD to mint an equal amount of TUSD to your public Ethereum address. The USD funds are regularly verified in scheduled attestations by a very much trusted auditing firm. USD funds are kept safely in a third party account, that is escrow accounts, wherein TrustToken does not hold any direct access to the funds and cannot abscond with them even if they wish to. The token burning and minting system makes sure that every TUSD token is backed by 1 USD. A mandatory check of AML/KYC makes sure that TUSD keeps shady people away from the entire project. TUSD makes faster transactions in low transaction fees. Even though TUSD is a unique offering, it is most likely overshadowed by its bigger competitors - Tether. While TUSD arguably offers more security and features, it may be losing the marketing battle. This is not to say that the situation will remain the same. With more crypto investors joining the market every day, the good times for TUSD may be on their way.

Melon MLN

The fast-growing demand for cryptocurrencies calls for a convenient way to administer them. Melon is one such platform that works through a blockchain protocol allowing easy and efficient maintenance of cryptocurrencies. Acting as a hedge fund, Melon presents a fully customizable administration of your digital assets. You can use it as an online vault that allows you to store and transact your funds through its web portal. Melon was developed to meet the need for a cost-efficient and technologically advanced hedge fund to manage digital assets. Reto Trinkler and Mona El Isa founded the company, Melonport AG in July 2016. The company created Melon as a digital asset management protocol. It is a first of its kind system that enables the users to store, administer, and invest in crypto assets through a decentralized network. Melon works through a fully decentralized infrastructure. All the information of the user, such as smart contracts, assets, and records are saved on a decentralized blockchain network. It not only offers reliability for the storage of information but also reduces the risk of custody. The protocol also offers a decentralized system of execution through the Ethereum Virtual Machine (EVM). Smart contracts are distributed across multiple Ethereum networks to provide better efficiency and security for the assets. With the Melon protocol, users can save both time and money for investing in a hedge fund. Additionally, there is no requirement of a third party approval from a lawyer or advisor. Melon’s ICO was launched in February 2017 and sold out within 10 minutes. Melonport is aiming to bridge the gap between the portfolio managers and the investors by removing the role of the third parties such as law firms. Melonport’s CEO, Mona El Isa comes from a strong financial background and is versed with the problems of the investment industry. There is still a lot of work to be done on the Melon project, even though things are looking quite positive already. An audit of the protocol has been completed already, and the project continues to advance. No further specifics have been provided on the website, although it remains to be seen what the future holds. Bringing more value to Melon Coin would be a good idea, yet it remains to be seen how that might be achieved.

SOURCE: COINGECKO

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