Moneta is a decentralized blockchain platform that is self-governing and establishes a true digital commonwealth. It is a platform linked to digital tokens, called Moneta(MNT) and Stabila (STB). The platform is not based on mining. Token holders get a reward for participating in the proof-of-stake consensus mechanism.
Moneta issued in circulation is backed by a one-to-one ratio of the equal amount of the corresponding fiat currency kept by Moneta Holdings in reserves. Moneta Holdings LLC serves as a responsible third party accountable for the asset as the trustee and support. This risk is mitigated by a straightforward implementation that jointly decreases the sophistication of both fiat and cryptocurrency inspections while at the same time increasing the protection, availability, and clarity of these tokens.
What is Moneta?
Moneta is a flat pegged cryptocurrency to support all currencies of the world. Each Moneta unit issued into circulation is backed in a one-to-one ratio (i.e., one Moneta USD is one US dollar) by the corresponding fiat currency unit held in deposit by Moneta Holdings.
The idea is to establish a 1-1 reserve ratio between a cryptocurrency coin, Moneta, and its related real-world asset, fiat currency, to maintain transparency and ensure equilibrium in the exchange price. This system uses the blockchain, Proof of Deposits, and other audit methods to show that released tokens are strongly endorsed and reserved at all times.
Countries supported by the Moneta project.
The Moneta project supports 195 countries. This total comprises 193 countries that are member states of the United Nations and two non-member observer states: the Holy See and the State of Palestine.
Of the 195 countries supported by Moneta coins:
54 countries are in Africa
48 in Asia
44 in Europe
33 in Latin America and the Caribbean
14 in Oceania
2 in Northern America
What Problems Does Moneta Token Solve?
Like other cryptocurrencies, the Moneta token was created to solve a particular problem. Its primary purpose is to create a secure network that allows the free flow of money transfer. It is backed by fiat currency and offers a stable and decentralized means of trading value while using a standard accounting unit for individuals and organizations. It removes the need for multiple intermediaries, allowing money transactions much smoother and more uncomplicated to trace.
How does Moneta Token work?
Moneta's implementation team proposes a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-stake, forming a record that cannot be changed without redoing the proof. The longest chain serves as proof of the sequence of events witnessed and proves that it came from the correct CPU. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-stake chain as proof of what happened while they were gone.
Benefits of Moneta
There are a lot of benefits that Moneta brings to the market. For one, Monetas can be used just like bitcoins, i.e., in a p2p, pseudo-anonymous, decentralized, cryptographically secure environment. The fiat currency has purchased the assets of Moneta on reserve, and its price is indefinitely monetized to the fiat currency price. Moneta has the following benefits over other Fiat pegged cryptocurrencies:
- Monetas exist on the blockchain rather than within closed source software running on centralized, private databases.
- Monetas can be integrated with merchants, exchanges, and wallets just as easily as Bitcoin or other cryptocurrencies.
- Monetas inherit the properties of the Moneta Layer protocol, which includes: a decentralized exchange; browser-based, open-source, wallet encryption; blockchain-based transparency, accountability, multiparty security, and reporting functions.
- Moneta Holdings employs a simple but effective approach for conducting Proof of Reserves which significantly reduces our counterparty risk to the custodian of the reserve assets.
- Moneta issuance or redemption will not face any pricing or liquidity constraints. Users can buy or sell as many Monetas as they want, quickly and with low fees.
- Moneta's one-to-one backing implementation is more manageable for non-technical users to understand instead of collateralization techniques or derivative strategies. At any given time, the balance of fiat currency held in our reserves will be equal to (or greater than) the number of Monetas in circulation.
Main Applications
The main applications of Moneta are divided into three classes of users:
Exchanges, Individuals, and Merchants.
For Exchanges
The primary purpose of the exchanges is to resolve the difficulty and costly acceptance of deposits and withdrawals using the traditional banking system.
For Individuals
Moneta can assists individual in the following ways:
- Transact in any country/fiat value, pseudo anonymously, without any mediators/intermediaries
- Cold store any country/fiat value by securing one's private keys.
- Avoid the risk of keeping Fiat on exchanges and move crypto-fiat in and out of the exchanges quickly.
- Avoid having to open a fiat bank account to store fiat value.
- Easily enhance applications that work with bitcoin also to support Moneta.
For Merchants
These are several ways in which Moneta can assist merchants:
- Price goods in any country/fiat value rather than crypto
- Avoid conversion from crypto to any country/fiat and associated fees and processes.
- Prevent chargebacks, reduce costs, and gain greater privacy
- Provide novel services because of fiat-crypto features
What's Different About Moneta?
The main thing that separates moneta from most other cryptocurrencies is that it is pegged to every nation dependent on blockchain fiat. Monetas are solely allocated in a one-to-one ratio, totally independent of business forces, pricing, or liquidity restrictions. Moneta has a clear and convincing delivery of Evidence of Reserves and undergoes frequent competent audits. Monetas will not face any market risks, liquidity crunches, etc., as reserves are maintained in a one-to-one ratio rather than on market forces.
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