ONEm is Minting a Cryptocurrency That Can Be Traded Without the Internet
- Anyone can access mCoin simply by using SMS.
Since the inception of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term technology by the mysterious figure Satoshi Nakamoto Satoshi Nakamoto “Satoshi Nakamoto” is the alias of the mysterious person (or group of people) that are responsible for the creation and launch of Bitcoin back in 2009 and the authorship of the Bitcoin whitepaper, published in 2008. As such, Satoshi Nakamoto is also the entity who conceptualized and created the first-ever blockchain network. Nakamoto was the first to effectively solve the double-spending problem for digital currency using a Peer-to-Peer (P2P) network. Nakamoto was active in the development of bitcoin up until December 2010, making all modifications to the source code himself. In 2010, he handed over control of the source code repository and network alert key to Gavin Andresen, and transferred several related domains to various prominent members of the bitcoin community.Who is Satoshi Nakamoto?While Nakamoto claimed on his P2P Foundation profile in 2012 that he was a 37-year-old man from Japan, others speculated that he was from an English-speaking country due to his use of perfect English and the fact that none of his work was documented or labelled in Japanese. Analyses of Nakamoto’s post suggest that his sleeping patterns were most similar to those of people living in the UK, and his use of British English in spelling and terminology have led many to believe that Nakamoto is actually of British origin.Several years after the publication of the Bitcoin network, the entity posting under the name Satoshi Nakamoto disappeared from the internet, never known to publish anything under that name again. However, a few bold actors have claimed to be Nakamoto. There has been much speculation about whether any of these claims could be true. Ultimately, the real-world identity of Satoshi has never been established and remains a mystery to this day. “Satoshi Nakamoto” is the alias of the mysterious person (or group of people) that are responsible for the creation and launch of Bitcoin back in 2009 and the authorship of the Bitcoin whitepaper, published in 2008. As such, Satoshi Nakamoto is also the entity who conceptualized and created the first-ever blockchain network. Nakamoto was the first to effectively solve the double-spending problem for digital currency using a Peer-to-Peer (P2P) network. Nakamoto was active in the development of bitcoin up until December 2010, making all modifications to the source code himself. In 2010, he handed over control of the source code repository and network alert key to Gavin Andresen, and transferred several related domains to various prominent members of the bitcoin community.Who is Satoshi Nakamoto?While Nakamoto claimed on his P2P Foundation profile in 2012 that he was a 37-year-old man from Japan, others speculated that he was from an English-speaking country due to his use of perfect English and the fact that none of his work was documented or labelled in Japanese. Analyses of Nakamoto’s post suggest that his sleeping patterns were most similar to those of people living in the UK, and his use of British English in spelling and terminology have led many to believe that Nakamoto is actually of British origin.Several years after the publication of the Bitcoin network, the entity posting under the name Satoshi Nakamoto disappeared from the internet, never known to publish anything under that name again. However, a few bold actors have claimed to be Nakamoto. There has been much speculation about whether any of these claims could be true. Ultimately, the real-world identity of Satoshi has never been established and remains a mystery to this day. Read this Term in 2008, thousands of projects are now using decentralized technology. Many teams worldwide are pushing the boundaries to innovate with this efficient technology - London-based ONEm is one of these players.
ONEm recently introduced a cryptocurrency which can be accessed by people without access to an active internet connection.
The technology leverages legacy telecom protocols on the top of a blockchain network, allowing people to use virtual coins by use of the SMS function.
With this coin, called mCoin, ONEm is targeting markets which lack infrastructural development and thus have a relatively small amount of internet penetration. The firm claims that out of 5.8 billion total mobile phone users around the world, 3 billion still do not have internet access on their phones.
In the press statement, Christopher Richardson, CEO of ONEm, commented: “We are very passionate about the inclusive nature of our services as they consider the needs of billions of people who don't have reliable or ready access to the internet.”
According to ONEm, mCoin can reach around 261 million mobile phone users around the world by way of ONEm-connected mobile networks in 13 different countries.
To protect the token from inflation, ONEm is also using a reducing supply algorithm, which will limit the supply of the mCoin token to 32 billion over the next 34 years. Users can use these tokens to carry out transactions with ONEm commerce services.
ONEm has been working on this technology since 2012, and finally, after solving the technical puzzle, the company has a working product.
Mr. Richardson added: “Non-Internet users will be able to access a virtual wallet via SMS, using the ONEm platform, giving them access to their mCoins and doing away with the need to access the internet or mobile data.”
Since the inception of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term technology by the mysterious figure Satoshi Nakamoto Satoshi Nakamoto “Satoshi Nakamoto” is the alias of the mysterious person (or group of people) that are responsible for the creation and launch of Bitcoin back in 2009 and the authorship of the Bitcoin whitepaper, published in 2008. As such, Satoshi Nakamoto is also the entity who conceptualized and created the first-ever blockchain network. Nakamoto was the first to effectively solve the double-spending problem for digital currency using a Peer-to-Peer (P2P) network. Nakamoto was active in the development of bitcoin up until December 2010, making all modifications to the source code himself. In 2010, he handed over control of the source code repository and network alert key to Gavin Andresen, and transferred several related domains to various prominent members of the bitcoin community.Who is Satoshi Nakamoto?While Nakamoto claimed on his P2P Foundation profile in 2012 that he was a 37-year-old man from Japan, others speculated that he was from an English-speaking country due to his use of perfect English and the fact that none of his work was documented or labelled in Japanese. Analyses of Nakamoto’s post suggest that his sleeping patterns were most similar to those of people living in the UK, and his use of British English in spelling and terminology have led many to believe that Nakamoto is actually of British origin.Several years after the publication of the Bitcoin network, the entity posting under the name Satoshi Nakamoto disappeared from the internet, never known to publish anything under that name again. However, a few bold actors have claimed to be Nakamoto. There has been much speculation about whether any of these claims could be true. Ultimately, the real-world identity of Satoshi has never been established and remains a mystery to this day. “Satoshi Nakamoto” is the alias of the mysterious person (or group of people) that are responsible for the creation and launch of Bitcoin back in 2009 and the authorship of the Bitcoin whitepaper, published in 2008. As such, Satoshi Nakamoto is also the entity who conceptualized and created the first-ever blockchain network. Nakamoto was the first to effectively solve the double-spending problem for digital currency using a Peer-to-Peer (P2P) network. Nakamoto was active in the development of bitcoin up until December 2010, making all modifications to the source code himself. In 2010, he handed over control of the source code repository and network alert key to Gavin Andresen, and transferred several related domains to various prominent members of the bitcoin community.Who is Satoshi Nakamoto?While Nakamoto claimed on his P2P Foundation profile in 2012 that he was a 37-year-old man from Japan, others speculated that he was from an English-speaking country due to his use of perfect English and the fact that none of his work was documented or labelled in Japanese. Analyses of Nakamoto’s post suggest that his sleeping patterns were most similar to those of people living in the UK, and his use of British English in spelling and terminology have led many to believe that Nakamoto is actually of British origin.Several years after the publication of the Bitcoin network, the entity posting under the name Satoshi Nakamoto disappeared from the internet, never known to publish anything under that name again. However, a few bold actors have claimed to be Nakamoto. There has been much speculation about whether any of these claims could be true. Ultimately, the real-world identity of Satoshi has never been established and remains a mystery to this day. Read this Term in 2008, thousands of projects are now using decentralized technology. Many teams worldwide are pushing the boundaries to innovate with this efficient technology - London-based ONEm is one of these players.
ONEm recently introduced a cryptocurrency which can be accessed by people without access to an active internet connection.
The technology leverages legacy telecom protocols on the top of a blockchain network, allowing people to use virtual coins by use of the SMS function.
With this coin, called mCoin, ONEm is targeting markets which lack infrastructural development and thus have a relatively small amount of internet penetration. The firm claims that out of 5.8 billion total mobile phone users around the world, 3 billion still do not have internet access on their phones.
In the press statement, Christopher Richardson, CEO of ONEm, commented: “We are very passionate about the inclusive nature of our services as they consider the needs of billions of people who don't have reliable or ready access to the internet.”
According to ONEm, mCoin can reach around 261 million mobile phone users around the world by way of ONEm-connected mobile networks in 13 different countries.
To protect the token from inflation, ONEm is also using a reducing supply algorithm, which will limit the supply of the mCoin token to 32 billion over the next 34 years. Users can use these tokens to carry out transactions with ONEm commerce services.
ONEm has been working on this technology since 2012, and finally, after solving the technical puzzle, the company has a working product.
Mr. Richardson added: “Non-Internet users will be able to access a virtual wallet via SMS, using the ONEm platform, giving them access to their mCoins and doing away with the need to access the internet or mobile data.”