Very few ICOs that have launched in 2018 have turned out profitable, and many more are outright in the red. Today we’re going to be taking a look at one of the few cryptocurrency projects launched in 2018 that has continued to remain profitable and build hype. That project is Mainframe, a decentralized, secure platform built to support communication dApps. Those dApps can be anything from a social network to a highly secure messaging service Today we’ll be looking at why people are loving Mainframe, the five principles the platform is built around, and the future of the project.
The Future of Communication
Mainframe is an answer to a problem that has been glaringly apparent since the revealing of the NSA surveillance back in 2013. The internet is not private and communications sent over the internet aren’t either.
Genuine encryption and surveillance resistance of communication is Mainframe’s value proposition. They offer a brand new protocol for communication channels over the internet by creating a communication’s layer that replaces the old, centralized protocols at the heart of the surveillance issue. With their platform and dApps running on that platform, a user can rest assured that the highest quality encryption and routing techniques are employed to keep communication between the desired parties. All of that is then wrapped together with a blockchain enabled incentivization mechanism to encourage participation of users in the system.
Most people would like to know that their messages that are sent to friends or family aren’t being looked at by anyone but the intended recipient. That alone is a very wide use case for a Mainframe messaging dApp, but there also exists needs in the corporate sector for private communications. One such area is in healthcare.
Anyone who works in healthcare will know what I mean when I say HIPAA compliance. For those who have the pleasure of not worrying about HIPAA, it’s simply a law that dictates patient’s healthcare records can only be discussed with the patient or anyone authorized by them. This law is a large concern for healthcare companies since an employee breaking HIPAA compliance can open up the entire company to a lawsuit under federal law (not a fun occurrence for anyone).
Because of the privacy features, a communication dApp on Mainframe could provide an ideal solution for communication between physicians or other healthcare employees for discussing patient care and sharing patient records. If you’ve ever wondered why it takes so long for anything to get done when healthcare offices have to talk to each other (besides being busy) it’s because the mechanisms of communication are limited to fax and phone calls.
A messaging solution designed for healthcare that includes proper credentialing, privacy, and adequate messaging services is a home run waiting to happen. With Mainframe that application is entirely possible. The amount of time that could be saved with such a system is astronomical. Most importantly with that type of system patient experiences would be improved with less wait time, less hassle, and less worry about whether or not an issue regarding a loved one’s health issue is being solved.
The other possibilities with Mainframe include any communication or social media platform in existence today. Thanks to the decentralization and anti-censorship capabilities of the Mainframe protocols there are options for creating new services like Twitter, Facebook, or Reddit that are unable to censor its own user base.
Privacy, censorship, and security are topics I’ve discussed with projects repeatedly in my own articles and they are hot topics in our society today. With Mainframe, there is the option to begin building new applications that can offer the services many are seeking.
The Mainframe Principles
Mainframe describes itself as a Web3 platform and at its core Mainframe is a peer-to-peer network that executes and broadcasts blockchain transactions. That platform is built using a set of five principles: encryption, dark routing, incentivization, peer-to-peer architecture, and interoperability.
Encryption is a concept familiar to those in blockchain. What it means for Mainframe and their dApps is simple. They want to keep your messages private and outside parties whether that be government or a random hacker cannot access your data. What this means in practice for users of a Mainframe dApp is that your messages are going to be secure and only those who you send them to will be able to see them.
Dark routing is the second principle and it’s incredibly important for preventing an outside entity from monitoring a network. Even with encryption in place an attacker to a network can still obtain some pieces of information about who is communicating with each other. With dark routing, Mainframe’s network can prevent that from occurring. How that works is packets are routed to nodes based on partially disclosed destination addresses and sent to that subset. Following that routing the packets are then sent to all matching nodes. Because of that system, an attacker is unable to see where packets are being sent and then use that information to figure out who may be speaking with whom.
The third principle is incentivization and its where blockchain and tokens come into play. The idea is quite simple and used in countless blockchain projects, rewards in the form of MFT token are given out to nodes that support the network. For being a part of the network user or node can earn MFT. This step is crucial for the growth of the Mainframe network as they need a cut and dry reason for people participating in the network and securing it. From that growth the network becomes more decentralized and further encourages participation as more people use the network.
The fourth point is that peer-to-peer architecture that I’ve touched on throughout this article. Mainframe is constructed using that peer-to-peer architecture. All application data is distributed throughout that network. There isn’t a central point or server that houses all of the information, it’s in every single node. Because of that design, the Mainframe network cannot be censored or really shut down.
Lastly, we have interoperability. What this means practically is that the Mainframe network can run on a variety of systems. It is the design goal of Mainframe to run on or integrate with any application, existing network, or blockchain.
Overall, what we have with the Mainframe system is a peer-to-peer network that incentivizes users to join by rewarding them with MFT. Those peers serve as nodes to transmit packets between each other. DApps are built on top of that system that use it for communication or even file storage. To ensure users have the best experience and top of the line security the protocols use encryption and dark routing to prevent outside entities from knowing what messages are sent and to whom they are being sent. What results from this set-up is the most robust and secure communications platform this side of the blockchain.
Luckily for us Mainframe was smart enough to understand people are going to see what is capable now and not have to wait. For those who are itching to see what Mainframe can do there is the Onyx application which is the first app that runs on the Mainframe platform. It’s currently in alpha and will serve as the test platform for all of the features developed by the team. To learn more about Onyx and to get started using it hop on over to this link on the Mainframe website. Lastly, there is a requirement of 1 MFT to use Onyx at this time and it’s available for Linux, MacOS, and Windows.
Mainframe is dividing its development up into three phases. The first of which is called Apollo and its where the project currently sits. The whitepaper doesn’t list any specifics in terms of the development of the blockchain or give dates, but it does focus entirely around the Mainframe node and gives information regarding features that will be available in Onyx. Those features in Onyx include reliable direct and group messaging, secure file attachments with file viewers, and full-text search for messages and contacts.
MFT is currently traded at a price of $0.01 or 179 Sats or 0.00003249 ETH. The total supply of the token is 10 billion and the circulating supply is 2.1 billion. Given those numbers the marketcap of the project is $29 million. Daily volume for the token was $4.5 million.
There are a total of seven exchanges currently trading MFT with the majority of volume coming from three exchanges. Those exchanges in descending order of volume are Bittrex, Upbit, and Binance. Bittrex is in the top spot with its BTC pairing at 42.5% daily volume. Upbit is second with its BTC pairing and rakes in 31.4% daily volume. Lastly there is Binance with its BTC pairing and 17% daily volume.
Bittrex – https://bittrex.com/
Upbit – https://upbit.com/
Binance – https://www.binance.com/
To learn more about Mainframe please see the following links.
Website – https://mainframe.com/
Twitter – https://twitter.com/Mainframe_HQ
Blog – https://blog.mainframe.com/
Whitepaper – https://mainframe.docsend.com/view/j39qpui
The Mainframe project is out looking to solve the issue of censorship and privacy of communication on the internet. The project itself actually started out trying to create a better email application but found that the underlying protocols themselves needed to be completely remade to accomplish what they wanted. Now what we have is a fantastic platform with a solution for communication online. That platform will hopefully lead to a series of dApps to serve entire industries and everyday individuals in their communication.
Thank you for reading today’s article. This one marks my first to be released on Whalereports and I’ll be having some fantastic content for everyone going forward. As always follow me on Medium @thant11 on Twitter @thant1194 or on InvestFeed @thant11 in order to stay up to date with my article schedule. In addition, please remember to follow @TheWhaleReports on Twitter to ensure you’re staying up to date on all content released here! I am not associated with the Mainframe project and am a holder of their token. Thank you again! I have to return some video tapes.