Lets see what are the two most important questions that can be answered with the usage of MYCoin International.
How does MYCoin International ensure security for its users?
In this hacking dominated world, security and reliability are the most important aspects concerning cryptocurrency. The answer to all the security-related questions is answered by MYCoin International’s Web Wallet Application. So, what is so great about this wallet application? Let us explain the mechanics behind the wallet’s working methodology. The complete database which in essence is the whole transactional history. This is stored in MongoDB. MongoDB is basically one of the many database types to arrived around mid-2000s under the NoSQL banner. The transaction is reflected in both web-wallet and “mycoind”. The transaction reflected in “mycoind” can be seen by blockchain explorers.
But there’s a catch here, even the blockchain explorers can’t see the names of the people or the monetary value associated with that person. The flow begins from database MangoDB to API calls to blockchain nodes and back which is fully secured. Only the reference that has been carried by one singular transaction can be seen by the blockchain developer. This process creates a transparent system making sure that there isn’t any discrepancy.
How will vendors come on board for MYCoin International’s success?
Vendors or sellers in general will have trust issues relating to the genuinity of cryptocurrencies. MYCoin makes sure that the vendors are paid in fiat currency (backed by US government) so that they don’t become a victim of the fluctuating market trends and deflated economies. This reduces the market uncertainty faced by the vendors thus they can be come on board and help maintain the balance of demand and supply in the cryptocurrency ecosystem. MYCoin can be compared to the Paypal for cryptocurrencies.
MYCoin aims at solving the most basic trust issues that is the basis of people not using services. MYCoin uses new process and techniques to make sure you use your favourite cryptocurrencies hassle-free any and everywhere. This provides a self-sustaining method for user protection and risk aversion for both buyers and sellers. The company also aims at providing a transparent view of the prices and show the most accurate results.
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