Why Investors Should Pay Attention to Mainframe (MFT)
We live in a time where security, at least online security, is permanently in question. Just look at the recent Facebook hack and it’s clear that our data isn’t safe. By extension, this means that your money and community aren’t safe. Think of the interconnected nature of everything, and how much of that is tied to the INternet. It’s sort of scary.
You have all these telecoms companies and big banks who just serve as massive honeypots of data to hackers. Not only does this leave the end user vulnerable, but also the companies themselves. If you have fragile companies that the entire country is dependent upon, you have a problem. So basically, the Internet isn’t secure or anonymous. It is built on decades old infrastructure, and it might be time for an upgrade.
This is where Mainframe comes into play. When you look at the path that Snowden put us on by showing how the NSA was spying on us all, and how hacker groups like Anonymous have been able to operate nearly unfettered, it is clear we have a problem.
The vision Mainframe is selling is one composed of unstoppable applications. Explained as a web3 communications layer that is invulnerable to the threats currently prevented by hackers, trackers, and censors, Mainframe is the ideal upgrade to the Internet as we currently know it.
So what is Mainframe? In its most basic sense, it is a platform for decentralized applications. None of the regular problems regarding surveillance or censorship are present. The whole point is it can’t be hacked or compromised in all the ways we’ve almost become used to.
These decentralized applications can do all the things that regular applications can do. They can send data, make payments, store files, and complete tasks, but in a much more secure manner.
And the beauty of something like Mainframe is its robustness. Since it is composed of nodes which are distributed all over the world, it is as impossible to compromise as the Bitcoin network.
Mainframe’s Current Status
The token for Mainframe, MFT, is currently trading on several exchanges and has been doing so since July. The company has started to release and outline their roadmap, and has done a strong job of collaborating with the Ethereum Foundation, which tends to lend them a lot of credit. Recently, they presented work at DevCon3, which is a major developer conference.
The investors include Pritzker Group, Techstars Kima Ventures, Hoxton Ventures, and Faber Ventures, among many more, which is a strong signal for the validity of this solution.
Finally, Mainframe has released their version of Slack, the Onyx application. This is their first offering, and it seems to have been well received. The main point of this application is to test the power of the network. The network is designed so nodes run it, and are paid in MFT operations for their work. If the value of the network goes up, so does the value of a token.
MFT reached an all time high of $0.025 shortly after first being listed on major exchanges, but has generally dwindled ever since. According to CoinMarketCap, it is currently trading at $0.00795. Most of this was because you had many “quick flip” investors who just wanted to drop their bags on the retail investors and then get out.
The main reason for this was that they didn’t believe in the long-term potential of Mainframe, and with the current bear market, it didn’t make sense to hold on. Their loss can be an opportunity though. Once Bitcoin begins to recover, altcoins that have survived and done the heavy work will too. Looking at Mainframe, they seem to be a legitimate player who are ready for the long-game.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.