History of Innovative Product Development:
Metrixcoin’s head developer is David Grunge who, with a team of developers, created mystakingwallet (MSW).
Mystakingwallet was the very first mobile staking wallet and it was also the first to be available on the Google Play and Apple stores for purchase. It allows people to stake and perform coin control straight from their mobile devices. MSW is non-custodial and users are the only ones with access to their wallet’s private keys as they are all hosted on virtual private servers. Additionally, the app allows users to turn their mobile devices into masternode-ready devices with the click of a button, simplifying the process of masternode creation and making it more accessible to people. They went on to create partnerships with over a dozen other projects that harbor staking and masternode capabilities to take advantage of the one-click, turnkey masternode solutions.
Grudge Match Gaming (GMG)
GMG is an online gaming platform where users can compete against one another for Metrixcoin, or its ticker MRX. There are no online gaming platforms that I am aware of that allow people to wager cryptocurrency on who is playing the game and also bet in a match against other players. It features many of the top games, and will continue to add new releases as they come out. Competitive Esports is a rapidly growing industry and GMG has the potential, with the right execution, to become very popular. Whilst GMG is currently in beta testing phase, the team is currently working on a new partnership with BA Consult as outlined below.
Partnership with BA Consult:
Metrix has recently partnered with BA Consult, an IT and systems integration company. Their core business is automated payment management systems and are operating nationally throughout Italy. Some of their customers include casinos, large retailers, public transit systems like Trenitalia, and more.
BA Consult is looking to implement blockchain as a scalable solution for their business clients. They have selected Metrixcoin. The current plan is to use API integration to allow clients to market buy and sell Metrixcoin when needed. Customers and players will be rewarded for using Metrixcoin instead of Euros with each application.
The proposed plan is that consumers (i.e. people in the grocery store buying milk) will provide payments as either cash or credit card for purchase and will have the option to pay using conventional methods of payment or MRX. If they choose to pay with MRX, they participate in a Loyalty Program where they may either benefit from reward points or a discount. The grocery store may then choose to hold their MRX in a wallet, or may choose to sell at market price instantly through the payment system. Clients that hold Metrixcoin may benefit from staking rewards at 10% interest annually, and other perks that have not been released to the public yet.
Another example would be at the casino - using MRX instead of Euros would lead to reward points similar to existing reward structures for casino players. Alternatively, they may offer 5 bonus games for free if they select MRX for payment. The players do not need to have any knowledge of cryptocurrency. Everything is handled by BA Consult and their business clients.
Upcoming Hard Fork:
For all of this to become a reality, Metrix has an upcoming hard fork which will decrease staking rewards significantly (down to 10% initially) and will also allow for Governance. A Governor must hold 7.5 M of MRX to have voting privileges. Essentially, anyone can submit a proposal to the Governors for a fee, and the Governors will vote to determine whether or not a proposal would pass.
The new chain will also facilitate up to 10,000 transactions per second, and will have extremely low fees (roughly 2 MRX per standard transaction) which, in today’s prices, is roughly 0.05 cents (0.00055 USD). It also has both UTXO and EVM functionality which gives Metrixcoin more flexibility to be able to create smart-contracts and deploy dApps or MRC20 tokens.
The team has already started development on ledger apps and chrome extensions to facilitate holding MRX on hardware wallets. They are also looking to implement offline staking which would require delegation of coins to an online node. Users could delegate and get rewards without needing to be active on the network and be accomplished in a secure way.
This Medium post outlines some of the changes (there have been some further changes to specific numbers, but this summarizes the main points very well) - https://medium.com/@Metrix/metrix-2020-new-direction-7ef7d2e9932b
Recent Increased Activity and Renewed Enthusiasm:
Recently, Metrix has seen a significant increase in activity and enthusiasm surrounding the project. With Trent now in charge of business development, things have been moving quickly and the project has been gaining traction on its current exchanges. With this new partnership, Metrix will have a significant use case and a strong potential for exponential growth and adoption.
Thank you for taking the time to review the background about this project!
(Credits go to a few Discord members who collaborated to bring the community this information - Eyegug for the initial article content, Jude Newcomb for his help with the background on Metrix, Trent for information about the new partnership, CryptoHal for information about the hard fork, and Guillermo for editing)