Master contract token price

admin 29/05/2021

Introduction

With the kind of cryplớn bear market we saw recently, it has become ever more important that the most famous blockchains (BTC/ETH/NEO) start getting real-world adoption. Without adoption, the whole crypkhổng lồ industry will slowly thảm bại relevance. This is what Vitalik Buterin (founder of ETH) has lớn say:

Da Hongfei’s response on an AMA question

In such a scenario, I feel MCT might act as a brilliant utility token for these games. Users won’t have to lớn go to various exchanges to piông chồng up different tokens for various games; its convenient.

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This naturally opens up a question — in the present market scenario every project wants to have sầu their own token. How does a project decide to choose between their own token vs. using MCT?

Hal gave sầu some intersting insights on this:

It’s really a question of why they need a token — if it’s for large-scale fundraising, then they might choose khổng lồ use their own token. But not all dApps need millions of dollars for development, so in those cases there’s really no functional reason to lớn use their own token and every reason lớn use MCT instead.1. It’s already available so no need lớn write any NEP-5 contract code2. It’s already on listed on exchanges so new users can obtain it easily3. It’s in a lot of users’ hands already due to the 98% airdrop4. It’s convenient for users who already use MCT with another dApp

The Team

Let’s look at the team behind the project. MCT has been developed by Splyse, the team behind the highly awaited Cryptokitties-lượt thích game on the NEO blockchain called HashPuppies. Do you rethành viên Cryptokitties had broken the Ethereum blockchain with its high number of transactions! It is expected HashPuppies might bởi vì the same khổng lồ NEO. However, it is still a couple of months away from getting live sầu.

The team had previously won the inaugural City of Zion dApp competition by developing NEO Smart IoT & came 3rd in the NEO/Microsoft dApp competition by developing the Non-Fungible token (NFT) smart contract template. So, we can say the team has strong credentials. Also, development of MCT has already been completed and the token is live sầu for usage. Awesome, right?

Since, I got really interested in the project. I had further discussions with Hal which are provided verbatyên below. Its a gem of a project, & will start gaining traction as one reads about it more!

Further discussions

Q: It seems NEO 3.0 will solve sầu the specific issues MCT plans khổng lồ solve, in that case isn’t MCT redundant?Hal: Interestingly no.1. Backwards compatibility:The NEO team prefers if developers can make changes to lớn the NEO blockchain using contracts rather than making changes lớn the core code. It makes it easier for backwards compatibility. For e.g. NEPhường 7 solves some of the changes MCT brings. However, it will be an extremely tedious task to lớn roll it out as it impacts all past transactions as well as future ones. One mistake, & you can invalidate previous ICO token sales if every interaction of every previously deployed contract is not considered.2. NEO 3.0 might solve sầu all changes MCT brings. However, it is around 1–2 years down the line.

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3. MCT solves the required NEO issues NOW, not a year down. It is extremely important lớn note that. So, there will be many developers who use MCT as a utility token now. Eventually, when NEO 3.0 is released, MCT will be valuable due khổng lồ these network effects. It will be a multi-dApp utility token amuốn the various single dApp utility tokens.

Q: If MCT is so beneficial for the NEO ecosystem, what stops someone from forking it and creating their own version of MCT, then repeating the same process of airdrop etc.? Doesn’t this undermine MCT’s future potential?

This was one of the questions someone asked in MCT’s Discord channel. MCT’s lead developer Hal had a convincing answer, which makes MCT more valuable in my eyes.

Hal: They’d have sầu to lớn solve all the problems that we solved to get khổng lồ this point — right now there aren’t that many developers who have deep of knowledge of the Neo VM lớn underst& how khổng lồ write this contract securely. The contract is not open source so they’d have to reverse-engineer the whole thing. And they’d have to be willing khổng lồ front 990 GAS khổng lồ deploy their clone token and hope they didn’t just throw away $26,000 if they made a mistake in the code trying khổng lồ replicate it.

Conclusion

So, thats all about MCT! Splyse, the team behind MCT, seems to lớn have sầu picked up an extremely important problem statement và have delivered a working product. It can effectively replace GAS in various transactions. Now, the success can only be gauged by how effectively the developer community picks up using the token. I wish the team all the best.

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