Martkist Progress — Plans For The Future

“Without deviation progress is not possible.” Frank Zappa

The recent events around the world got us in a position where we can spend more time in the online environment. Almost every online activity has increased a lot in this period. This extra time could be used for relaxation, learning, meditation, and whatnot. For some instead, this was a good time to speed up the progress of our projects.

The Martkist team understood that this period is an opportunity to further improve the quality of their project and also step up their game by introducing new features into their blockchain.

The bond with their community is always on the first place, so they frequently asked for feedback and constantly introduced new proposals for future development.

One of their recent proposals includes the implementation of a wrapped token. This integration would help to bring liquidity to their upcoming market place and further improve the transaction speed.

A wrapped token is basically a token that is deployed through smart contracts and its price is usually tied to a certain blockchain asset. For example, multiple projects created Wrapped Bitcoins (wBTC) as a more viable method than transacting the real bitcoins. This avoids the necessity of a cross-chain operation that would require more time and fees.

By proposing this method, Martkist team will increase the efficiency of their platform, allowing users to handle different currencies through their DApps, without having the need to work on two blockchains at the same time.

The governance of a wrapped token is usually done through different assigned roles and cryptographic checks. This makes it a safe and secure alternative to using the actual cryptocurrency.

The wMARTK could be considered a stable coin only because its value will always be tied to the MARTK value directly. Unlike the MARTK coins, wMARTK will be centralized only to make sure that only a certain amount of wMARTK tokens will be present on the market and will always be backed by an equal amount of MARTK coins.

The demand and supply of wMARTK will always be controlled by smart contracts which will use algorithmic rules to make sure the value is always correct. As a transparency rule, the issuing organization will regularly prove the existence of the original coin in the same amount as the wrapped token.

The wMARTK tokens will be constantly minted or burned, depending on the status of the reserves, which can be variable in time.

Efficiency should be the strong point of any main-stream orientated blockchain project. The adoption of efficiency-increasing technologies can only add a plus to any project.

MARTK Project is constantly developing new technologies and keeps close contact with their community for the best feedback on every update.

Stay close to find out the latest news and updates about the Martkist Project.

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