MFit: Bringing blockchain efficiency to Mixed Martial Arts
MFIT Coin is a Proof of Stake coin that majors on the mixed martial arts (MMA) industry. Blockchain technology is continually opening up previously unchartered industries to decentralized monetization. Accordingly, MFit is an opening into the fitness industry.
MMA powerhouse, Muayfit, announced their intention to launch a coin that will improve the network’s engagement with stakeholders in the industry. Therefore, this project aims at disrupting the fitness industry with innovative and exciting projects. MFit coin will benefit gym owners, sponsors and even event organizers. Moreover, over five hundred fighters and 12 000 members, and the thousands of social media supporters will be in line.
Paul Teo, Machine Gan and Raymond Lew are the technocrats behind the projects. At the moment, the team is busy handling various logistical operations like listing on CoinMarketCap and sponsorship operations.
A brief history of the project
MFit coin is part of a larger blockchain project from Malaysia. The Muayfit gym is an established network of MMA gyms in Asia. Established in 2010, this Malaysian outfit has conducted more than 30,000 classes in various MMA disciplines. These include the renowned Muay Thai and even Yoga.
Muay Fit achieved a milestone in 2011 when it became the Malaysian network of ONE Championship. This is the most expansive MMA network in Asia with a global viewership north of a billion. Muay Fit has subsequently been able to have a number of its fighters sign professional contracts with ONE championship.
Muay Fit has had a great run since and by 2012 was a top-ten MMA gym in Asia. This is as per the rankings of respected MMA portals like Fight Nation. Muay Fit has a current membership of more than 12,000.
Use cases for M-Fit
How will users apply this coin in their activities? The MFit coin will facilitate payment to Muayfit gyms for membership and purchasing merchandise. Moreover, there will be a sponsorship program for championship matches that will use MFIT coins.
POS and Masternodes
Proof of Stake is an alternative to the original Proof of work mining. As a matter of fact, POS is increasingly becoming the choice mining mechanism for upcoming coins. Ethereum will transition to POS in 2020 because it is more energy efficient and decentralized.
Masternodes are decentralized servers that make the POS network operate efficiently and securely. Besides, they offer a great means to earn passive income. This is because node holders earn daily on account of newly mined MFit coins. Masternodes are an excellent investment with your return on investment contingent on the number of Masternodes and network collateral. Notably, you need 1000 M-fit as Masternode collateral.
Features of MFit coin
Decentralization
This is the essence of cryptocurrency. You can transact using MFit coin without reliance on a central authority of banks. This creates a level of autonomy since you will not be subject to regulatory red-tape.
Anonymity
MFit coin utilized the PrivateSend feature to grant users the option of private or anonymous payments. This means that you can avoid prying eyes on your transactions and ensure that no-one can easily track your identity.
Staking
Staking is the essence of POS mining. Essentially, the network rewards you for storing your coins in the network wallet. Stakeholders are assured of daily rewards in MFit coins for staking for the stipulated time. Staking is helpful because it ensures price stability.
Security
The network relies on the advanced Quark hashing algorithm to ensure security. This algorithm essentially guarantees transaction transparency and makes the leak-proof.
Advanced Quark hashing algorithm protects the blockchain network, keeping all transaction transparent and leak-proof.
Fast transactions and liquidity
The transactions on MFIT are super-fast. You no longer have to wait for lengthy times on processing times. You can make or receive global payments very conveniently at a low cost. The platform also offers a wide array of apps and products to make it globally relevant. The coin is available in multiple exchanges and is generally easily available. This bodes well for trade and ensures that commerce is efficient.
Conclusion
MFit is a bridge to an industry previously beyond the reach of blockchain technology. This platform will be an excellent way to monetize MMA training and make the industry bigger as a whole. MFit will be a great revenue generator for stakeholders and investors alike.
