Most of the people in crypto are just take profits from the price fluctuation of crypto or you can say to trade in crypto, they don't use crypto for doing or accepting payments because of the same fluctuation characteristic of crypto so here fiat currency wins. If you go deep inside the value of the fiat currency of a country also changes with time but that change is very slow or you can say they are anti-high fluctuation {Reference}.
Because of the price fluctuations and manipulation in crypto, people/Govt. fearing to use crypto as a part of the economy because they are thinking it can collapse any moment, so the biggest challenge of crypto to be a part of any country's economy and to promote DeFi (Decentralized finance) where people trust blindly. so crypto needs to accrue feature of fiat currency. And to solve this problem Meter coin (MTR) created which is a global currency created to maintain long-term stable purchasing power and to stop manipulation.
How Meter coin (MTR) will maintain his stability?
Most of the cryptocurrency is working on a deflationary nor inflationary model which is good; For example, when bitcoin demand grows the price also grows since bitcoin's has limited supply but when demand decreases the price also falls badly which is a destructive thing and bitcoin not created to manage that situation because of which bitcoin is good to hold but risky to use for payment.
Meter coin (MTR) is a solution for this problem, so the Meter coin (MTR) created by following the blueprint of bitcoin, but the supply is not limited, deflationary nor inflationary. Meter coin (MTR) adjust its supply according to demand because of which the price fluctuation will stabilize, which gives Meter coin (MTR) to a stable purchasing power.
Now a question may come to your mind that why we will use Meter coin instead of Collateral-backed stable coins like MakerDAO?
Ans: So my friend Meter is a collateral-free stable coin, which means you need not to risk your assets to use stable coins {Reference}.
What problems with Tether USDT, DAI, Paxos (PAX), Gemini Dollar (GUSD), etc?
Ans: Counterparty risk comes with these stable coins that the company behind them is really storing USD/gold behind them or not we don't know {Reference}.
The goal of Meter coin (MTR):
The Meter coin (MTR) created to replace fiat with a better alternative that can use not only for payment making or for shopping but also it has some hidden features to get involved in any country's economy.
Fiat printing controlled by Government and because of this inflation is rising and your money you are saving losing its value but Meter coin (MTR) stores its value for the long term to protect you from inflation {Reference}.
Meter blockchain has a programming layer that allows you to implement Meter blockchain to develop Defi apps and services and do you know Defi is the future of the traditional finance system.
Meter blockchain created by focusing on scalability in the term of transaction fees, speed, security so it will never hike its transaction fees like Ethereum with transactions grow and will never compromise its speed and security.
What is MTRG?
This is the governance token for Meter platform created to observe the volatility and MTRG token worked with proof of stack mechanism while MTR coin worked with proof of work mechanism I understand this paragraph is complex for you but don't worry in future I will publish more articles to make you understand in details about MRT and MTRG, I'm warping this article because if I describe in about MTR and MTRG in this article then it will be so long for us.
Conclusion: After I read the whitepaper of the Meter project, I found it is a masterpiece they will create a hybrid mechanism to improve the features of Meter coin so can it get involved in the economy's mainstream and they are doing so superb work to reach scalability, stability, value creation, Governance, Defi, etc.
For more information, please visit the following links:
Website, Whitepaper, Twitter, Telegram, Telegram (India), Discord, YouTube, Medium
About author:
Name- Jitendra naik (Meter india ambassador)
Email- [email protected]
