Melon (MLN)

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Melon is a technology designed for operating and regulating funds through the watermelon protocol. More on the matter, Melonport (the company) does not own the watermelon protocol.

Joke Name

Melon = Regulating Funds

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (MLN)

Coin or Token

Circulating Supply (1.1 Million)

Total Supply (1.25 million)

Market Cap Ranking

Review

Melon is a technology designed for operating and regulating funds through the watermelon protocol. More on the matter, Melonport (the company) does not own the watermelon protocol. It is designed to be a public good like, say, the internet.

Watermelon protocol

Watermelon is a decentralized, open-source protocol designed for crypto asset management. Its back- and front-end are executed on distributed platforms ensuring transparency and security to the users. More on the matter, the back-end is based on a set of Ethereum smart contracts that function as leverages and enforce fair play in a trustless environment.

Given that Melonport does not own watermelon, they do not charge any commissions or fees from anyone using it.

Decentralized development

Ever since delivering version 1.0 of the watermelon protocol, Melonport has decided to hand all control and governance to a council that consists of two parts – the Technical Council (MTC), and Exposed Business representatives (MEB).

  • The MTC consists of conflict-of-interest free experts in technology who have both a proven track record and deep understanding of the watermelon ecosystem. They are responsible for the development and deployment of the protocol, network parameter adjustments, and resource management.
  • The MEB is represented by users whose business relies on the watermelon protocol. They work on business-oriented decision-making but they cannot proceed with implementation of anything new into the technology without agreeing with the MTC first. This kind of management is designed to create a balance of power where the product comes first.

Brings to the table?

The middlemen bring inefficiency, high running costs (and insane expenses on hidden costs), as well as increased operational risks on any sage of asset management.

Watermelon replaces the middlemen removing the necessity to deal with them whatsoever. Moreover, the protocol is both automated and public so Melonport themselves cannot be considered a middleman as well.
In simpler words, a user is gaining access to a pool of smart contracts that run the very same operations 3-d parties would but autonomously, fairly, and at a fraction of the cost. Blockchain’s encryption mechanisms, in turn, enhance security and minimize the requirements for trust even further.

Press

Melonport came out of the shadows with a massive bang when they have shown their product to the world this February. They had a lot of love and attention from TechCrunch, CNN Money, Coindesk, and even the World Economic Forum.

Summary

This has, indeed, brought a lot of attention to the project making it spike in price over the last couple of month but, given it is only the 1.0 version of the product, we’d suggest you keep an eye on Melon for a tiny bit more.

Pros

  • Aged
  • No middlemen

Cons

  • No direct backing (asset, profits, commodity)
  • Limited exchanges