In the summer of 2018, a new coin called MFT appeared on Binance crypto exchange. What is this project? Will MFT price rise? Well, let’s figure it out.
What is Mainframe (MFT)?
According to the information on official website, Mainframe is the platform for decentralized apps. According to its creators, it is resistant to censorship, surveillance and disruption. It allows any decentralized application to send data, store it, manage payments, and safely perform other tasks.
The project concept is to create a decentralized network for the purpose of sending / receiving anonymous messages that are resistant to censorship. Decentralization as a feature of blockchain is designed to protect the network from third-party access, incl. developers.
The principles of the platform:
- dark routing;
- peer-to-peer architecture;
- network immortality;
- preservation of performance everywhere and under any circumstances.
With the exception of the catastrophic event of asteroids or the aggressive invasion of aliens, the network is simply unstoppable.
In early July, the project’s token was added to Binance cryptocurrency exchange, and as a result MFT increased significantly in price. But, as expected, the effect was temporary: its value quickly and significantly decreased. As of mid-July 2018, MFT was trading for price around 250-300 satoshis ($0.2).
Approximately at that time, the coin was added to the Coinmarketcap, hitting the top 200 of cryptocurrencies by capitalization.
All settlements within the platform, ensuring the implementation of transactions and other types of rewards occur with the help of a special token. MFT coin is available for satisfactory trading on Binance, Bittrex, UPbit, and Hotbit. Other exchanges are unlikely to interest you because of low volumes. After the start of trading on Binance, the coin was not seen in top listings. Things will probably get better in case of listing at OKEx and/or Huobi Global.
The main event of last year that significantly affected the work of the platform was the release of 0.1 MVP. The update was not the best time for cryptocurrency market and did not really influence the price of MFT. After that, the platform provided communication services, data storage, payments and local identification. Computer services, data transfer services, and decentralized identifiers (DID) are still unavailable.
In the first quarter of 2019, the initial version of the platform with broader functionality will be launched.
The company began this year with a virtual summit on decentralization, to which well-known experts were invited. The event is important but not determinative for the future fate of the project.
Mainframe (MFT) Price Prediction
It is quite difficult to predict the growth of any crypto currency in an extremely volatile market. We will weigh the factors “for” and “against” and make our conclusion. You can come to another conclusion, having food for thought.
Factors behind the price increase are as follows:
- The token is traded on the world’s largest crypto exchange (Binance app was downloaded from Playstore more than 1 million times).
- In case of a reversal (growing) trend of the entire market, the price of the token is likely to rise too.
- The project has an interesting concept, people need completely anonymous and safe chat rooms.
Factors against the price increase:
- It is not sure that MFT will be listed on other large crypto exchanges. Update: the coin has been listed on Bittrex and Upbit.
- States don’t like the idea of complete anonymity in crypto projects. Remember Monero (XMR) which has been removed from some exchanges for a similar reason.
- As far as we know now, sending messages in the network will be paid (using MFT tokens). You should also take into account the fact that the price of MFT, like almost any other cryptocurrency, will be very volatile.
- There are no cryptography programmers in the Mainframe team.
Therefore, we believe that the coin will grow in value but not significantly. See our price forecast for the Mainframe (MFT) crypto currency in the table below.
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What do you think about MFT’s perspectives? Don’t hesitate, share your comments below!
Disclaimer: This MFT price prediction is our estimate. Investing in cryptocurrencies is always a risk. Don’t invest all your deposit in one crypto.
Featured image by Pixabay.