M-Coin Unveils Plans for IEO on Coinsbit

UTC by Babafemi Adebajo · 3 min read
M-Coin Unveils Plans for IEO on Coinsbit
Photo: Shutterstock

Users will be able to stake their M-coins in staking pools on Coinsbit for up to one month and earn up to 3.5%.

M-Coin Tech has announced the launch of its Initial Exchange Offering (IEO) on the Coinsbit exchange.

The network is a transparent ecosystem built for decentralized cloud storage. It solves the problems of security, transparency, and privacy associated with centralized data storage systems. By combining the power of blockchain with cryptography and encryption, the network can ensure low costs for users. Also, it will guarantee higher levels of data security, data privacy, and unique ownership of data.

m-Coin is the base utility coin of the decentralized cloud storage ecosystem. It is built on the Binance Smart Chain (BEP20). Holders of the coin will be able to earn while renting their space out in an open and sustainable product and service ecosystem for the global community of users & hosts. The coin will be listed on reputable global crypto exchanges starting with Coinsbit at the end of January.

What to Expect During the IEO

There are 1,500,000,000 M-Coin tokens in circulation. Of these numbers, 50,000,000 tokens have been allocated for the IEO on Coinsbit. The IEO will hold in two stages. In the first stage, 20,000,000 M-coin tokens will be offered a $0.25 from 16 January 2022 till 23 January 2022. The remaining 30,000,000 M-coin tokens will be offered at $0.30 from 23rd January 2022 till 30th January 2022.

To participate in the IEO, users can visit Coinsbit here. Afterward, the coin will be listed on the exchange after which M-coin trading will be functional. Available trading pairs for M-coin after listing will be Bitcoin (BTC), Ethereum (ETH), and USDT.

Additionally, users will be able to stake their M-coins in staking pools on Coinsbit for up to one month and earn up to 3.5%.

What Makes M-Coin Different?

M-Coin offers a host of advantages to what currently obtains in the decentralized storage space. Some of its key features include:

  • Low Storage Costs: By using millions of nodes to host data across the globe, the amount of available storage will increase. Thus, the availability of more storage infrastructure will help lower the associated cost.
  • Fair Market Price: By rewarding node hosts with M-coin for participation in the process, a fair market price will be ensured. This will in turn ensure only high-quality nodes survive the competition.
  • Faster Speeds: Traditional storage systems are known to suffer from the throttling of their networks particularly when the traffic on the network increases. By employing P2P technology and eliminating a central server, multiple copies are stored on different nodes, therefore allowing more copies of the data which then leads to faster download speeds.
  • Data Security and Privacy: First, data is encrypted. Then, it is sharded and sent to multiple host nodes for storage. These hosts compete for data storage while abiding by the terms of the smart contract. Any host who breaches the agreement is kicked out and loses his rewards.
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