What Is Monetha (MTH)?

Monetha (MTH) is anEthereum-based token of value for users to build identity, shop online, and earn rewards. The project seeks to develop a decentralized trust and reputation system that works flawlessly through a blockchain-based payment gateway for global e-commerce.

According to the web portal and whitepaper, the core features of the project aim to be the following:

• Privacy & security: Data is protected with high-level encryption and proven by the scientific community. Only the advanced recovery key mechanism ensures users access to the data. Further, Monetha aims to invoke a highly secure data exchange protocol that prevents unauthorized access to users' data.

• Scalability & low cost: Because of the Ethereum protocol being the basis of the project, cryptocurrency payments are generally up to 5 times cheaper and up to 10,000 times faster. As a result, merchants can accept speedy payments with a transparent fee structure with no chargeback or hidden fees and an easy user interface with smart contract-enabled crypto wallet security.

• Trust & reputation system: On every transaction, smart contracts update the trust rating based on the behavior of clients that builds the clients' trust. Similarly, the merchants' reputation develops on updating the trust ratings by the smart contracts based on the behavior of merchants. This way, both parties have an opportunity to file/resolve claims, review, and transparently rate each other. 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.

Lastly, Monetha (MTH) is a utility token that seeks to serve mainly two uses. First, users can shop online via the Monetha application, and for every transaction, shoppers aim to get rewards based on the amount they spend. The more the clients pay, the more they get rewards. They can spend their rewards in the form of exclusive gift cards, donations to charity, and tokens, to name a few. Second, when shopping with Monetha partners, clients can receive a special instant discount for sharing their profiles with them.

History of Monetha (MTH)

The project had its whitepaper released in June 2017. The Monetha team includes cofounders Andrej Ruckij working in the technology field, Justas Pikelis in business administration, and Laurynas Jokubaitis in the product development segment.