What Is Mir Coin (MIR)?
MIR COIN (MIR) is a platform developed to allow users to avail productive services in the cryptocurrency environment. These everyday services include payment of goods and services and transportation fare payment. Thus, the project aims to form an ecosystem that allows the exchange of MIR coins with other cryptocurrencies through exchange markets with a variable value determined by the market situation.
MIR COIN is a delegated proof-of-stake (DPoS)-based token with a Scrypt algorithm. Scrypt is an improved version of the algorithm used in Bitcoin to manage the mining efficiency. Further, the token is based on the EOS network that helps in eliminating threats. EOS is a network used to develop and run dApps.
According to the whitepaper, the core features of the project are:
DPoS (scalability & energy efficiency): Based on DPoS technology, MIR COIN seeks to provide safe and fast processing of a large volume of transactions (users can confirm 99% of trades within 0.25 seconds) within the blockchain connected to an electronic payment platform. MIR Coin seeks to enable immediate payment based on EOS protocol to increase user convenience.
MIR Land (integrated solution): MIR Coin is the MIR platform's core element, an integrated decentralized solution designed to share MIR Land partners' various user contents and affiliated business plans. MIR Land, also called the MIR platform, aims to connect partners, seeking to provide multiple goods and services with MIR COIN and MIR PAY users.
Payment (global exchange): Users can choose MIR COIN or MIR PAY when using goods and services provided by partners of MIR Land. Also, fixed MIR PAY can be exchanged equivalently with variable MIR COIN for goods and services from partners of MIR Land.
MIR Wallet: MIR Wallet is an electronic crypto wallet where users can store and transmit MIR COIN and MIR PAY. MIR Wallet's encryption method helps to avoid exterior attacks, information leaking, and information forgery.
Audit: Certik foundation (audit firm) verified the project's smart contracts and issued the blockchain security certificate. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain.
Token Economy: On payment by users for the goods and services to MIR Land partners, the partners pay 10% of the total amount to MIR Land as commission. Further, MIR Land pays 5% out of this total amount of commission to the users as a payback. This way, the partners seek to get economic benefits as they pay the commission only when an income occurs, and users seek to benefit from the payback of 5% they spent.
Ecosystem & Utility: The MIR Coin ecosystem aims to comprise smart mobility for MIR Land and a comprehensive distribution system. Users can use MIR Coin and MIR Pay for payments at vehicle maintenance sites, taxi line sharing, gas stations, electronic vehicle charging stations, or paying a designated driver using smartphone applications. Besides this, users can get travel tickets from various partner companies of MIR Land at discounted rates. Moreover, users can even use MIR Land's shopping mall partners' goods and services using MIR Coin or MIR Pay.
History of Mir Coin (MIR)
The MIR Coin project had its whitepaper released in February 2019 with a maximum total supply of 1,300,000,000 MIR. The project team includes Daniel Shin, CEO, as the project's founder. As a part of the roadmap, the project has plans to provide smart mobility by combining the database collected with AI (artificial intelligence) technology.
