What is Mercury (MER)?
Future of MER Cryptocurrency and know how to buy MER

#1 – Mercury – The Basics

What is Mercury?

The problem with modern communication platforms is their centralized system of operation. User privacy is vulnerable and the behavioural data is often sold to advertisers. Bringing a change in this scenario by fixing these fundamental issues is the Mercury Protocol.

  1. Mercury is an open source communication protocol designed on a blockchain network to provide enhanced user privacy and security of their data at a nominal cost.
  1. It creates monetization strategies for advertisers and companies that do not exploit the behavioural data of the users. It works with leveraging tokens in order to promote user participation. Its chief purpose is to create a much stronger system of security than private messaging apps.
  1. Dust is the first application to work with the Mercury protocol and it is already in the market.

Mercury Development

The primary objective of building this protocol and its app was to give the users the control over and ownership of their private data. Ryan Ozonian founded the Dust messaging app in 2014. MER’s ICO was launched in October 2017. It has a team of total 15 members with blockchain experts and mobile app developers.

 

#2 – What are the benefits of Mercury?

Mercury Technology

  1. Mercury uses the Ethereum blockchain network to store all data on a decentralized system that is public and transparent but also anonymous. It makes use of the smart contracts feature. This way, users can maintain their privacy and keep the data stored safely on an immutable network.
  2. The protocol integrates the Global Messaging Token, a new Ethereum blockchain token, to reward positive user activities. It will also enable the users to transfer their communication data from one platform to another on the Mercury ecosystem.
  3. A problem with the Ethereum blockchain, however, is its scalability. The growing number of users presents scaling challenges that the network is unable to remedy, leading to the unsatisfactory user experience. Mercury addresses this issue through State Channels. They are a mechanism that diverts the on-chain interactions to off the blockchain and improves the speed by minimizing blockchain latency. With their scalability levels, Mercury apps can support a large number of users.
  4. Mercury also uses oracles to connect the external data sources to the smart contracts on the Mercury protocol. This enables the users to manage their communications even with the world outside Mercury.

Transactional Process

The process of a transaction on the Mercury protocol enables three forms of communication:

- 1-to-1: This is a dialogue between the two parties.

- 1-to-many: This is an announcement broadcasted by a single entity to multiple users.

- Many-to-many: This is a discussion amongst many users.

The protocol allows the users to access these communications via its GMT, MER. When the users use MER at the Dust app, the tokens are transferred for the further development of the application. Users can also receive MER in the form of incentives for their content and behaviour.

Features

  1. Accessibility: Since the protocol is distributed across many networks, the users can, therefore, access their data from any app integrated with the protocol.
  2. Pseudonymity: All the data on blockchain is public. But the users’ personal details are essentially hidden in the form of pseudonyms.
  3. Security: The biggest advantage of communicating over blockchain is the security that comes from operating within a decentralized network.

 

#3 – How to buy and store Mercury?

The MER token is a Global Messaging token. It is used as a reward for promoting positive behaviour among the users. It provides access to premium services, thereby, leveraging more user participation. It is available for purchase on exchanges like Upbit, Bittrex, Coinexchange, and Tidex.

  1. CoinSwitch, as the largest cryptocurrency conversion platform, offers you to exchange your cryptos for Mercury. You have the option to go through over 45,000 pairs of crypto exchange to choose your preferred one.
  2. What’s more - with CoinSwitch, you do not rely on a separate wallet from the exchange to store your MER cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

Storage

The MER token is an ERC20 compliant token. It can be stored on Mercury’s own hardware wallets that come with backup keys. Other options include Ethereum wallets like MyEtherWallet, Mist, and more.

 

#4 – What is the future of Mercury?

  1. Mercury has been working in three phases, as listed in its roadmap. The first phase was the development of Dust in Q3 2017. The second phase was Q4 2017 focusing on the completion of Broadcast 1.0.0. The protocol is closed source until the complete development and launch of these apps.
  2. Mercury’s roadmap for 2018 is divided into three stages. Jupiter, the first stage, focused on building a bigger user base. Research and design in the blockchain technology and content were some of its main concerns.
  3. The second stage of development named Perseus, is centered on building KYC for Mercury wallets, make designs for third-party integrations within the apps, create solutions to convert MER into fiat.
  4. Mars is the final stage of development for this year. It will release the beta version of Broadcast and host a hackathon to promote the protocol. They also plan to develop frameworks for network growth.

Also Read: Complete Analysis of Mercury | Live Mercury (MER) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

July 01, 2018

0.128901

0.134546

0.122005

0.134533

1,450,710

12,890,100

June 01, 2018

0.173516

0.177111

0.169370

0.173831

272,415

17,351,600

May 01, 2018

0.307755

0.319169

0.288753

0.300908

4,403,250

30,775,500

Mar 01, 2018

0.346160

0.358937

0.320695

0.354242

1,448,310

34,616,000

Dec 01, 2017

0.304959

0.341513

0.297728

0.336537

2,772,110

30,495,900

Aug 01, 2017

0.011037

0.013788

0.010901

0.013229

1,482

1,103,690

 

#5 – How is Mercury different from other cryptos?

  1. Some of the main competitors of Mercury are apps like Status, Signal, Messenger, and Toshi. Dust and Broadcast, apps working with the mercury protocol, have an edge over these platforms with their decentralized blockchain network.
  2. Their participation incentive feature makes them stand out from the rest. They operate on an open-source protocol with privacy at the helm of their services.
  3. Mercury’s usage of GMT also makes it a one of its kind protocol employing tokens for encouraging user participation and positive content.

 

#6 – Should you invest in Mercury?

  1. Mercury’s potential can be measured in terms of the massive need for user privacy on communication platforms today. Although the protocol is considerably new, it can contribute a good deal to the positive evolution of modern communication in the long run with its decentralized social media.
  2. The chief advisor of the protocol, Mark Cuban has enough reputation to his name to attract users to the apps. At the same time, the apps have been designed for both the big and small players.
  3. It has a detailed website and whitepaper offering complete details of the project. Its current circulating supply is 100,000,000 MER with a market cap of $13,864,800 USD.
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