GoldMint aims to issue and administer the turnover of gold-backed cryptoasset pawn shop loans. The project comprises: Crypto asset GOLD, with a price equal to the current value of a 999 sample troy gold ounce on the CME exchange.
Utility token MNT (P), which has various applications within the GoldMint ecosystem.-MINT high-speed blockchain network, using a proof-of-stake algorithm for consensus. CUSTODY BOT robotic repository, equipped with a diagnostic system for jewelry items.
Uses cases for the MNT(P) token include:
- Pawn shops using a Custody Bot need MNT(P) tokens to record information about pledges in the MINT blockchain.
Having a certain amount of MNT(P) allows earn a discount when sending GOLD.
Users that have more than 10,000 MNT(P) tokens are allowed to run the MINT blockchain node on their own servers, connect it to the MINT blockchain, and receive remuneration from each transaction in GOLD and MNT(P).
There is no commission for buyers/sellers of crypto assets GOLD on the GoldMint website who have more than 1000 MNT(P) tokens.
How It Works
GoldMint.io order to use the network, pawn shops pay a commission for transactions. 75% of these commissions are received by the holders of MNTP tokens for storing data and participating in transaction verification. The reward for MNTP holders is paid in an internal system in crypto asset GOLD. The cost of crypto asset GOLD is tied to the troy ounce of 24K gold. Token holders should launch a Master Node in the MINT blockchain to receive a reward.
-secured loans are regularly used by more than 500 million people around the world. The estimated value of gold-secured loans is close to 110 billion dollars. It is a stable enough business, 90% of loans are returned, and the remaining 10% are compensated for the sale of pledges for scrap.
Gold Backed Crypto
Crypto asset GOLD coin is securitized pawn shop loans backed by real gold items. It is the heart of the GoldMint ecosystem. The cost of 1 crypto asset GOLD is equal to the cost of 1 troy ounce of 24K gold on the LME London Stock Exchange. Emission of crypto assets GOLD does not exceed the amount of gold held in partner pawn shops as collateral for loans and recorded in the MINT blockchain network. When you buy 1 GOLD they invest money into different pawn shop chain loans around the world.
GoldMint have developed MINT Blockchain for doing data consolidation. Developing your own blockchain based on proof-of-stake consensus has a number of technological benefits for inventory and asset management, and for the process of coordination between pawn shop chains. However, MINT Blockchain (based on the original pBFT protocol) has no analogs in the world.
MNTP (ERC20) or MNT (MINT blockchain) is a utility token serve for transaction verification within the MINT Blockchain network. MNT(P) tokens as master node are used by the holders to verify every single GOLD transaction and any data in the blockchain. Two types of the commission (in the form of GOLD and MINT) received for data recording go to the system wallet, and 75% of the total amount of these proceeds is distributed among the active master nodes that are ready to participate in consensus.The distribution is in proportion to the MNT(P) tokens frozen at the address tied to the master node.
Goldmint Lite Wallet
Tips for securely storing your
- Do your own research. Before sending any coins or private data to a wallet, make sure you have researched the wallet provider to make sure everything is above board. Keep an eye out for scam wallets, such as those using URLs only slightly different to the URLs of legitimate wallet providers, and check out some independent reviews for all the pros and cons.
- Back it up. Make use of your wallet’s back-up and restore facility so that if something ever goes wrong with your wallet, you’ll be able to recover your funds.
- Set a strong password. Now is not the time to be lazy when creating a password; take your time to create a strong and uncrackable code.
- Make use of all available security features. Make the most of all the security features your wallet offers, such as two-factor authentication or multi-signature transactions. It’ll offer increased protection for your funds and greater peace of mind for you.
- Update your antivirus software. Take care to regularly update the antivirus protection and anti-malware software on any device you will be using to access your wallet.
- Keep your private keys private. Last but not least, don’t underestimate the importance of your private keys. Store them somewhere safe and don’t share them with anyone else.
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