Ever since Airbnb and Uber disrupted their respective industries, there has been a push to see just how far, and how many things, are susceptible to disruption. Unsurprisingly disruption has arrived at the doorstep of blockchain and the army of digital currency platforms that are springing up. Leading the charge among the disruptors is Melon (MLN), a digital currency platform that is aiming to take a huge chunk out of the $84.9T asset management industry. Naturally it won’t be an easy task so let’s take a deep dive into the methods and devices that form MLN’s very ambitious proposition.
The core underpinning for MLN is its philosophy which is based on the idea that its systems, processes and tangible benefits should be for the public good. The platform is based on the principles of inclusivity, reliability and transparency. As such, users on the platform needn’t go through a complicated process to set up funds. No permission is required from the developers and associated Melon properties (namely Melonport AG) do not take fees for access to the platform. This hands-off approach means that MLN, like a lot of the digital currency platforms, remains open-source and fully decentralized.
The actual nuts and bolts of Melon involve the fully formed Melonport AG, a fully partner-owned private company based in Zug Switzerland. The launch of Melon saw the issue of MLN tokens. These token started the growth of the platform and the token which is now distributed as an asset management computer. This computer as defined by developers is the first autonomous system developed exclusively for the management of crypto-assets. The decentralized nature of the platform helps to create a stable, secure environment for the management of the constantly evolving digital currencies ecosystem.
MLN has its core, two important structural features. By themselves these structures are no different from the sort of structures found in most digital platforms. There is a backend and a front end; but MLN has deployed a frontend that operates on top of a IPFS with a backend that is set solidly on the foundations of the crypto-giant Ethereum with smart contracts helping to round out the robustness of the platform.
MLN is also found on a solid governance structure. This structure sees MLN token holders interacting with the blockchain via a technical council elected by them. The council then plugs into the Melon Protocol along with the Melon Chain and Melon Economics. This triad forms the decision-hub for the platform and subsequent management of the token itself.
The end result of this seamless integration of token holders, technical digital representatives and a structural platform based on security and integrity is an asset management system that far outstrips the levels of efficiency associated with traditional asset management systems. The decentralized nature of MLN means that middlemen, high running costs and undue exposure to operational risks are banished to the past. This improved system for managing digital assets help token holders to do more and in less time.
The MLN token has seen some growth as more and traders and investors come to grips with the platform and what it has to offer. Although current trading reflects an improved pricing paradigm or the token, MLN managed to climb to a high of nearly $60 on May 20, 2018. Since achieving that high there has been a pullback; but that hasn’t dented the general enthusiasm for the digital token. The 7-day high of $36.44 is a marked contrast to the low of $31.86 set on June 13. The big question now is what the next breakout level will mean for the token. Only time will tell in that regard.