A team of software developers supported by serial entrepreneur Mark Cuban has launched the digital currency Ethereum-based Mercury Protocol for the communication industry on Aug. 24. The protocol’s system is underpinned by the ERC20 token called the “Global Messaging Token” (GMT).
According to Mercury Protocol lead Blockchain developer Preethi Kasireddy, the protocol uses the GMT token as a utility metric for communication platform participation.
Concept of Mercury Protocol
Based on the white paper released by the protocol’s developers, Mercury Protocol is designed as an alternative to centralized communication platforms that aims to ensure the privacy of its users. By using the protocol, communication platforms will reap the benefits of decentralized Blockchain technology at low cost.
The protocol will allow platforms that embrace it to exchange content across previously isolated privatized applications, boost user privacy by establishing monetization strategies that do not rely on their behavioral data and leverage tokens to promote user participation. The protocol will also offer stronger network security than those provided by a private system that has single point of failure.
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Wow, I'm excited for this! Mark Cuban came to his senses after hating on cryptocurrencies for a while.
Kevin Oleary needs to do the same!