What is Melon (MLN)?
Future of MLN Cryptocurrency and know how to buy MLN

#1 - What is Melon?

The fast-growing demand for cryptocurrencies calls for a convenient way to administer them. Melon is one such platform that works through a blockchain protocol allowing easy and efficient maintenance of cryptocurrencies. Acting as a hedge fund, Melon presents a fully customizable administration of your digital assets. You can use it as an online vault that allows you to store and transact your funds through its web portal.

MLN Development

  1. Melon was developed to meet the need for a cost-efficient and technologically advanced hedge fund to manage digital assets.
  2. Reto Trinkler and Mona El Isa founded the company, Melonport AG in July 2016. The company created Melon as a digital asset management protocol. It is a first of its kind system that enables the users to store, administer, and invest in crypto assets through a decentralized network.
  3. Melonport AG sold out all its MLN tokens within 10 minutes of launch, earning a total $2.5 million during its ICO in February 2017.

 

#2 - What are the advantages of MLN?

Melon Technology

  1. The Melon protocol works through a digital asset management strategy. It includes a portfolio containing a finite number of digital assets and distributes the assets into the following categories:
    1. - Collateralised assets
    2. - Un-collateralised assets
    3. - Derivatives


  2. Every portfolio is divided into a core section which is further divided into modules. As the name suggests, the core part regulates everything through a set of smart contracts. The modules perform a supplementary role. A portfolio’s modular part is subjective and can be changed as per the requirements.
  3. The following are the foundation modules that comprise a portfolio:
    1. - Registrar
    2. - Functionality
    3. - Price Feeds
    4. - Exchanges
    5. - Trading
    6. - Management Fee
    7. - Performance Fee
  4. The user has to decide on the modules he/she would like to use. They can then invest in the portfolio by either buying its shares from its respective market or by investing Ether directly in the portfolio’s smart contract.

Transactional Process

The Melon ecosystem is composed of the investors, the managers, and the module developers. The managers provide the investors with the portfolios to invest. The usage fees derived from the investments is directed to a smart contract fund used for the governance of the protocol and for payment to the developers.

 

Features

  1. Decentralized infrastructure: Melon works through a fully decentralized infrastructure. All the information of the user, such as smart contracts, assets, and records are saved on a decentralized blockchain network. It not only offers reliability for the storage of information but also reduces the risk of custody.
  2. Decentralized execution: The protocol also offers a decentralized system of execution through the Ethereum Virtual Machine (EVM). Smart contracts are distributed across multiple Ethereum networks to provide better efficiency and security for the assets.
  3. Blockchain coding: MLN’s unique blockchain coding makes it a secure token for transactions. It removes the risk of counterfeit tokens and provides better safety against fraud.
  4. Removes third parties: With the Melon protocol, users can save both time and money for investing in a hedge fund. Additionally, there is no requirement of a third party approval from a lawyer or advisor.

 

#3 - How to buy and store MLN?

The Melon protocol works only with its own MLN tokens . Therefore, if you wish to invest in a Melon portfolio or set up your own fund, you need MLN tokens. It is available for purchase on exchange portals like Bittrex, Kraken, Etherdelta, Liqui, Livecoin, and Radar Relay.

  1. You can purchase MLN with BTC, ETH, USDT and USD. Cryptocurrency exchanges provide the option to buy or sell MLN tokens. CoinSwitch, on the other hand, as the largest cryptocurrency conversion platform, provides you with 45,000 pairs of cryptocurrencies to choose from. In addition to an integrated experience, you can compare the exchange rates for all cryptocurrencies and decide on your preferred price.
  2. What’s more - with CoinSwitch, you do not rely on a separate wallet from the exchange to store your MLN cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

Storage

The MLN token is compliant with Ethereum, since it an ERC20 token. You can store it in any Ether wallet such as myEtherWallet and Mist Wallet, among others. You have to create an account and set up your wallet. Once the setup is complete, transfer your MLN tokens into this wallet. Hardware wallets like Ledger Nano S and Trezor also support MLN storage.

 

#4 - What is the future of MLN?

  1. Melon’s ICO was launched in February 2017 and sold out within 10 minutes. MLN’s coin price reached $260 back in January 2018 following an exponential rise in the crypto market.
  2. Analysts believe that MLN’s price will rise substantially once the ongoing developments are finished. A five-year forecast of its current price of $23.4175 suggests a 395.33% rise to $115.99.

Also Read: Complete Analysis of Melon | Live Melon (MLN) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

1 July 2018

27.78

28.24

27.68

28.17

195,009

16,649,400

1 June 2018

39.41

40.08

38.75

39.34

265,567

23,622,900

1 May 2018

75.28

75.28

71.41

73.26

343,436

45,120,100

Mar 01, 2018

109.56

114.38

109.23

113.32

473,111

65,672,900

Dec 01, 2017

64.27

69.38

60.85

68.90

472,646

38,521,600

Aug 01, 2017

43.91

47.14

42.31

45.93

301,248

26,320,300

 

#5 - How is MLN different from other cryptocurrencies?

  1. Melonport is aiming to bridge the gap between the portfolio managers and the investors by removing the role of the third parties such as law firms.
  2. In doing so, the Melon protocol offers transparency and modularity at low fees.
  3. It is more of a decentralised hedge fund than an actual token of monetary value, unlike other major cryptocurrencies such as Bitcoin.

#6 - Should you invest in MLN?

  1. Melonport already enjoys a strong and growing community of investors. With the Melon protocol in action, more investors are willing to invest using MLN.
  2. Melonport’s CEO, Mona El Isa comes from a strong financial background and is versed with the problems of the investment industry. Its current circulation proportion is 599,400 million MLN tokens.
  3. The idea behind Melon is to provide a new framework for investing in and administering a variety of digital assets. The spectrum of assets that a Melon fund offers to you is an incentive to invest. Melonport claims security as its strong point with fewer worries to the investors. Melonports’s user interface, however, is a problem. It is not user-friendly, focused mainly on the technical aspect, and lacks an appeal.
  4. The best way to go about a decision to invest in MLN is to go through the available funds on Melonports’s website. You will get all the information regarding the fund, its organization, and its history.
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