MobileCoin (MOB)
Rank #738
Market snapshot
- Price
- $0.076592
- Market cap
- $15.2M
- 24h volume
- $5,793.82
- Circulating supply
- 198,399,727
- Total supply
- 250,000,000
- Max supply
- N/A
What is MobileCoin?
MobileCoin is a security-focused cryptocurrency intended for use in everyday transactions. It addresses the need for a cryptocurrency that combines both security and speed, which are often lacking in current options. Additionally, MobileCoin is recognized as the first carbon negative cryptocurrency.
How MobileCoin works
MobileCoin operates on a public blockchain that is encrypted to ensure security. The entire ledger is opaque, meaning that individual transactions are cryptographically protected. The network employs forward secrecy to enhance privacy. Instead of using traditional Proof of Work, MobileCoin utilizes the Federated Byzantine Agreement, which allows node servers to remain idle until there is work to do, significantly reducing energy consumption.
Key information
- Symbol
- MOB
- CMC rank
- #738
- Network / platforms
- N/A
- Categories
- N/A
- Date added
- Dec 7, 2020
Key characteristics
MobileCoin is open-source, allowing anyone to review the code and propose improvements. The MobileCoin Protocol, established by the MobileCoin Foundation, emphasizes security, transaction speed, energy efficiency, and mobile optimization. The protocol was open-sourced in 2020.
Documented uses
MobileCoin is designed for fast and secure mobile transactions. It is currently being utilized for payments in some of the world’s most secure messaging applications, offering a simple, encrypted currency utility akin to PayPal but with enhanced security features.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and the destination details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is MobileCoin?
- MobileCoin (MOB) is a cryptocurrency designed for secure and fast transactions, particularly in mobile applications.
- How does MobileCoin operate?
- MobileCoin operates on an encrypted public blockchain, using a Federated Byzantine Agreement for transaction validation.
- What are the technical features of MobileCoin?
- MobileCoin is open-source and governed by the MobileCoin Foundation, focusing on security, transaction speed, and energy efficiency.
- What are the risks associated with transferring MobileCoin?
- Users should ensure secure handling of private keys and verify transaction details, as transfers may be irreversible.
- Where can I find official resources for MobileCoin?
- Official resources for MobileCoin can be found at the MobileCoin Foundation website and its GitHub repository.
- How can I verify the acquisition of MobileCoin?
- Verify the asset name and network details before transferring MobileCoin to ensure accuracy.
Related cryptocurrencies
Listed from stored network and category relationships, not a similarity score.
